The Federal Trade Commission is taking action against two New York-based companies engaged in small-business financing, along with several of their owners and officers, for allegedly using deception and threats to seize personal and business assets from small businesses, non-profits, religious organizations, and medical offices. The FTC filed a complaint against RCG Advances, LLC—formerly known […]
Monthly Archives: June 2020
FTC Reaches Settlement with Kohl’s over Allegations it Failed to Provide Victims with Information Related to Identity Theft
Kohl’s Department Stores, Inc. has agreed to pay a civil penalty of $220,000 to settle Federal Trade Commission allegations that the Wisconsin-based retailer violated the Fair Credit Reporting Act (FCRA) by refusing to provide complete records of transactions to consumers whose personal information was used by identity thieves. In a complaint filed by the Department of […]
Rogue Payment Processor that Helped Perpetuate Multiple Scams Is Banned from the Payment Processing Business Under FTC Settlement
A rogue payment processor and its owners agreed to be permanently banned from payment processing in order to settle charges by the Federal Trade Commission and the State of Ohio that they unlawfully processed payments for multiple scam operations. Madera Merchant Services, LLC, B&P Enterprises, LLC, and their owners Bruce C. Woods and Patricia Woods, along […]
Statement from Secretary Steven T. Mnuchin on the Expansion of the Main Street Lending Program
WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the expansion of the Main Street Lending Program announced by the Federal Reserve Board: “The expansions announced yesterday to the Main Street Lending Program are the result of an extensive comment period, and are designed to better meet the needs of small and […]
OCC Hosts Mutual Savings Association Advisory Committee Meeting June 29 Via Webinar
News Release 2020-77 | June 8, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Monday, June 29, 2020, via webinar. The teleconference is open to the public and will begin at 1:00 p.m. Eastern […]
Joint Statement by Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza Regarding Enactment of the Paycheck Protection Program Flexibility Act
WASHINGTON—U.S. Treasury Secretary Steven T. Mnuchin and Small Business Administration (SBA) Administrator Jovita Carranza issued the following statement today following the enactment of the Paycheck Protection Program (PPP) Flexibility Act: “We want to thank President Trump for his leadership and commend Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working on a bipartisan […]
Readout from a Treasury Spokesperson on Secretary Mnuchin’s Meeting with Anton Siluanov, Minister of Finance of the Russian Federation
WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin spoke today with Anton Siluanov, Minister of Finance of the Russian Federation. The Secretary and Minister discussed the COVID-19 pandemic and response measures to support economic recovery in the United States and in Russia. The Secretary and Minister discussed progress on the Debt Service Suspension Initiative, designed […]
FTC Releases Funeral Home Compliance Results, Offers New Business Guidance on Funeral Rule Requirements
Federal Trade Commission investigators, working undercover in five states, found failures to disclose timely itemized pricing information, as required by the Funeral Rule, in 17 of the 90 funeral homes they have visited since 2018. The FTC periodically conducts undercover inspections to monitor funeral homes’ compliance with the Funeral Rule. The Rule gives consumers important […]
FTC Sends Second Round of Warning Letters to Multi-Level Marketers Regarding Coronavirus Related Health and Earnings Claims
The Federal Trade Commission today announced it has sent six letters warning multi-level marketing companies (MLMs) to remove and address claims about their products’ ability to treat or prevent coronavirus 2019 (COVID-19) or about the earnings people who have recently lost income can make, or both. This is the second set of warning letters to […]
FTC Sends Second Round of Warning Letters to Multi-Level Marketers Regarding Coronavirus Related Health and Earnings Claims
The Federal Trade Commission today announced it has sent six letters warning multi-level marketing companies (MLMs) to remove and address claims about their products’ ability to treat or prevent coronavirus 2019 (COVID-19) or about the earnings people who have recently lost income can make, or both. This is the second set of warning letters to […]