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FTC Approves Franchise Services of North America’s Application to Sell Advantage Rent a Car to The Catalyst Capital Group, Inc.

Following a public comment period, the Federal Trade Commission has approved an application by Franchise Services of North America, Inc. (FSNA) to sell assets it acquired from Hertz Global Holdings, Inc. to The Catalyst Capital Group, Inc. The FTC’s 2012 settlement required Hertz to sell its Advantage rental car business and other assets to a Commission-approved buyer (FSNA) in order to resolve charges that its proposed $2.3 billion acquisition of Dollar Thrifty Automotive Group, Inc. would have been anticompetitive. The FTC’s settlement requires FSNA, for three years, to get the FTC’s approval before selling any of the Advantage assets it acquired.

On November 5, 2013, FSNA through its direct subsidiary Simply Wheelz filed for Chapter 11 bankruptcy protection, and sought to sell Advantage, which has continued to operate during this process. Following a bankruptcy auction held in December 2013, Catalyst was declared the winning bidder for the Advantage assets. The bankruptcy court approved Catalyst’s acquisition of Advantage, subject to FTC approval. The Commission now has approved FSNA’s application to sell the Advantage assets to Catalyst following the public comment period.

The Commission vote approving the application and responses to commenters was 3-0-1, with Commissioner Joshua D. Wright not participating. (FTC File No. 121-0120, Docket No. C-4376; the staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526)

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

FTC Chairwoman Edith Ramirez Names Public Affairs Director

Federal Trade Commission Chairwoman Edith Ramirez has announced the appointment of Justin Cole as Director of the agency’s Office of Public Affairs.

“I am very pleased to welcome Justin to our leadership team,” Ramirez said. “His knowledge and extensive communications experience will help us to advance the public’s understanding of the important work we do to protect American consumers.”

Cole, who will join the agency on February 10, 2014, has 18 years of experience working in diverse communications-related and media roles. He most recently has served as press secretary for the Chairman of the Federal Communications Commission, providing strategic communications counsel to the Chairman and the agency’s senior leadership team. Cole previously worked as the U.S. corporate communications manager for Tata Communications, and as a deputy editor in Fitch Ratings’ EMEA Corporate Communications Group in London. As a journalist, Cole worked as a business and economics correspondent for the Agence France-Presse (AFP) news agency in Washington, D.C., after starting his reporting career at Dow Jones Newswires in London as an energy journalist. He holds a bachelor’s degree, with honors, in Comparative American Studies from the University of Warwick, U.K.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

FTC’s ‘Net Cetera’ Advises Parents on How to Talk to Their Kids About Internet Use

The Federal Trade Commission has issued an updated version of the popular free consumer guide, “Net Cetera: Chatting with Kids About Being Online.” The revised booklet contains updated information for parents and other adults to use when talking with kids about how to be safe, secure and responsible online.

The revision adds new topics that reflect changes in the online world since the guide was first issued in 2009. In the revised booklet, adults can find advice on how to talk with kids about mobile apps, using public Wi-Fi securely and how to recognize text message spam. The booklet also includes information about the recent changes to the Children’s Online Privacy Protection Act Rule.

“We’re pleased to put this incredibly popular free booklet back in the hands of parents, teachers and others who can help kids make good decisions about their online habits,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “If the last version is any indication, this booklet will inspire good discussions with children about this important issue.”

More than 9.3 million copies of the original version of the booklet were distributed, making it one of the Commission’s most-requested publications. The new version can be ordered for free on the FTC’s bulk order site.

Information from the booklet is also available online at OnGuardOnline.gov, the federal government’s website to help Americans be safe, secure and responsible online, as well as on consumer.ftc.gov, the FTC’s consumer information site.

FTC Issues Final Agenda for February 4 Workshop on Follow-on Biologics

The Federal Trade Commission today issued the final agenda for its one-day public workshop on competition and follow-on biologics, which will be held on February 4 at its Conference Center located at 601 New Jersey Ave., NW, in Washington, DC. The workshop, which was postponed due to a weather-related closure of the federal government last December, will examine competition issues surrounding biologic and follow-on biologic medications.

As explained in the Commission’s Federal Register notice and press release that originally announced it, the workshop will specifically focus on how state regulations and naming conventions may impact the development of, and competition for, follow-on biologics.

The workshop reflects the FTC’s longstanding interest in promoting competition in the pharmaceutical industry. It is free and open to the public. It will be webcast on the FTC’s web site. The Commission is accepting public comments on the workshop through March 1, 2014.

Reasonable accommodations for people with disabilities who wish to attend the workshop in person are available upon request. Requests should be submitted via email to [email protected] or by calling Lara Busby at 202-326-3388. Requests should be made in advance. Please include a detailed description of the accommodation needed and provide contact information. Directions to the FTC Conference Center and instructions for pre-registration can be found on the Commission’s website. Pre-registration is not required, but strongly encouraged.

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., N.W., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

FTC Staff Supports NACHA’s Proposed Rule Changes

The Federal Trade Commission staff filed a comment with NACHA (The Electronic Payments Association), supporting its proposal to strengthen its rules to monitor bank debit transactions conducted through the Automated Clearinghouse (ACH) Network.

The FTC’s comment focuses on NACHA’s proposed changes to how it monitors returned ACH transactions. A high level of returned transactions might indicate problematic business practices, and high rates of returns coded as “unauthorized” by the consumer, which can trigger inquiry, investigation, or enforcement proceedings. NACHA proposes to lower the return rate threshold that could trigger such inquiry for unauthorized debits from one percent to 0.5 percent. NACHA also proposes to establish for the first time return rate thresholds of 3 percent for administrative returns (for example, debits returned for invalid account numbers) and 15 percent for overall returns.

The FTC staff comment supports NACHA’s proposal to strengthen its risk management oversight to reduce the incidence of returned ACH debits, including those that have been most closely associated with consumer fraud. FTC staff supports NACHA’s proposal to lower the threshold for unauthorized returns. This change would provide a useful tool for payment processors, banks, and NACHA to identify conduct that falls substantially outside the norm that legitimate businesses experience. The comment supports NACHA’s proposal to set an administrative return rate threshold trigger, because excessive administrative returns may signal problematic business practices, such as the use of lists of purchased consumer account numbers. Further, the comment supports NACHA’s proposal to look more globally at all returned transactions and to monitor total return rates. FTC staff cautions, however, that perpetrators of fraud are increasingly employing techniques designed to mask and artificially reduce their actual return rates to avoid scrutiny, a factor NACHA should consider in setting appropriate thresholds. Finally, the comment urges NACHA to make clear that its thresholds do not “represent an acceptable level for returns,” but rather a signal that enhanced scrutiny of a merchant’s business is warranted.

The Commission vote approving the comment was 4-0. (FTC File No. V124402; the staff contact is Karen S. Hobbs, Division of Marketing Practices 202-326-3587).

FTC Seeks Public Comment on Nielsen Holdings N.V. and Nielsen Audio, Inc.’s Application to Sell its LinkMeter Technology and Related Assets to comScore, Inc.

The Federal Trade Commission is seeking public comment on an application by Nielsen Holdings N.V. and Nielsen Audio, Inc. (collectively, Nielsen) requesting FTC approval to sell its LinkMeter cross-platform audience measuring services to comScore, Inc., and to enter other arrangements supporting the divestiture. The divesture is required under the proposed FTC order settling charges that Nielsen’s acquisition of Arbitron, Inc. would lessen competition in cross-platform audience measurement services.

According to the FTC’s September 2013 complaint, at the time of the acquisition, Nielsen and Arbitron were both developing national syndicated cross-platform audience measurement services, which allow audiences to be measured accurately across multiple viewing platforms, such as TV and online. The complaint alleges that the elimination of future competition between Nielsen and Arbitron in this market would increase the likelihood that Nielsen would exercise market power and likely cause advertisers, ad agencies, and programmers to pay more for national syndicated cross-platform audience measurement services.

The proposed order requires Nielsen to sell and license, for at least eight years, certain assets related to Arbitron’s cross-platform audience measurement services to an FTC-approved buyer. Accordingly, in its petition Nielsen is seeking FTC approval to divest the LinkMeter assets, license certain assets and capabilities, and provide equipment and services, to comScore. The petition details why Nielsen believes that comScore would be an appropriate party to acquire these assets.

The Commission will decide whether to approve the proposed divestiture after expiration of the public comment period. Public comments may be submitted until February 24, 2014. Written comments should be sent to: FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. Comments can be submitted electronically. Copies of the application can be found on the FTC’s website and as a link to this press release. (FTC File No. 131-0058; the staff contact is Naomi Licker, Bureau of Competition, 202-326-2851)

Statement of FTC Chairwoman Edith Ramirez on the U.S. District Court in the District of Idaho Ruling in the Matter of the Federal Trade Commission and the State of Idaho v. St. Luke’s Health System Ltd. and Saltzer Medical Group, P.A.

Following the favorable court decision issued today, Federal Trade Commission Chairwoman Edith Ramirez said:

“The district court’s ruling is an important victory that will benefit both competition and consumers in Nampa, Idaho, and the surrounding areas. The combination of St. Luke’s and Saltzer would have given the merged hospital system the market power to demand higher rates for health care services, ultimately leading to higher costs for both employers and consumers. Keeping health care costs low and quality high by ensuring vigorous competition between providers is, and will continue to be, a top Commission priority.”

On March 12, 2013, the FTC filed a joint complaint with the Idaho Attorney General challenging St. Luke’s Health System’s acquisition of Saltzer Medical Group. The complaint alleged that the merger between Idaho’s largest health system and the state’s largest independent, multi-specialty physician practice would be anticompetitive, creating a dominant single provider of adult primary care physicians in the Nampa, Idaho area, with almost a 60 percent market share.

The federal district court held that the acquisition violated Section 7 of the Clayton Act and the Idaho Competition Act, and ordered St. Luke’s to fully divest itself of Saltzer’s physicians and assets.

FDIC Announces Upcoming Community Affairs Webinar:Savings Strategies During America Saves Week 2014

FIL-5-2014
January 24, 2014

FDIC Announces Upcoming Community Affairs Webinar:
Savings Strategies During America Saves Week 2014

Summary:

The FDIC’s Division of Depositor and Consumer Protection (DCP) Community Affairs Branch will host a webinar titled Savings Strategies During America Saves Week 2014 on February 4, 2014, from 2:30 p.m. to 3:30 p.m. (EST). The webinar will highlight potential strategies and approaches for institutions to consider pursuing to promote savings during America Saves Week. This webinar is one in a series of webinars highlighting strategies institutions can use to promote community development and expand access to the banking system.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised institutions.

Highlights:

America Saves Week 2014 is February 24 through March 1, 2014, and the theme is “Set a Goal, Make a Plan, Save Automatically.”
During the upcoming webinar, representatives from America Saves, the Internal Revenue Service (IRS), and the Department of Labor will join the FDIC to explore opportunities to participate in America Saves Week 2014. The IRS presenter will speak about the Volunteer Income Tax Assistance program, and the Department of Labor grantee will explore youth employment programs institutions can work with to promote savings.
The webinar will be held on Tuesday, February 4, 2014, from 2:30 p.m. to 3:30 p.m. (EST). To participate, institutions must register here by January 31.
Each institution is responsible for assessing whether the ideas and information presented during the webinar are appropriate for the institution to pursue, given factors such as the institution’s business focus, existing economic inclusion/community development strategies, financial condition, and market.
The FDIC welcomes suggestions for topics to be covered during future webinars. Please submit suggestions to [email protected].

Revisions to Regulatory Reports

FIL-4-2014
January 24, 2014

Revisions to Regulatory Reports

Summary:

The Federal Financial Institutions Examination Council (FFIEC) has approved several revisions to the Consolidated Reports of Condition and Income (Call Report) for implementation as of March 31, 2014, and March 31, 2015. The FFIEC also has approved revisions to the FFIEC 101, Regulatory Capital Reporting for Institutions Subject to the Advanced Capital Adequacy Framework, that will take effect March 31, 2014. These regulatory reporting revisions are subject to approval by the U.S. Office of Management and Budget.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised banks and savings associations, including community institutions. Certain Call Report revisions are not applicable to institutions under $1 billion in total assets, and other Call Report changes will not be applicable to certain institutions of this size because of the subject matter of the new data items. The FFIEC 101 report is generally not applicable to institutions with under $1 billion in total assets.

Highlights:

Call Report changes taking effect in March 2014 include:
- Questions about international remittance transfers for all institutions and, for those institutions with more than 100 transactions per calendar year, the estimated number and dollar value of remittance transfers. This information will be collected in Schedule RC-M, Memoranda, initially in March 2014, and semiannually thereafter each June and December;
- The reporting in Schedule RC-M of any trade names used to identify physical offices and addresses of public-facing Internet Web sites at which the reporting institution accepts or solicits deposits from the public;
- A question in Schedule RC-E, Deposit Liabilities, asking whether the reporting institution offers deposit account products primarily intended for consumers; and
- For institutions with $1 billion or more in total assets that offer consumer deposit account products, the total balances of these products in Schedule RC-E.
In March 2015, institutions with $1 billion or more in total assets that offer consumer deposit account products will begin to report in Call Report Schedule RI, Income Statement, the year-to-date income earned from three types of service charges on these products.
In addition, a revised version of the regulatory capital components and ratios portion of Call Report Schedule RC-R, Regulatory Capital, will take effect in March 2014 for advanced approaches institutions and in March 2015 for all other institutions.
Institutions should review FIL-3-2014, dated January 22, 2014, for further information about the regulatory reporting revisions for March 2014 and March 2015. FIL 3 2014 can be accessed at http://www.fdic.gov/news/news/financial/2014/fil14003.html.

FTC Staff: Massachusetts Should Consider Removing Physician Supervision Requirements for Nurse Practitioners and Nurse Anesthetists

Federal Trade Commission staff, in response to a request from Massachusetts State Representative Kay Khan, provided comments on Massachusetts House Bill 2009, stating that, as proposed, the elimination of certain supervision requirements for nurse practitioners (NPs) and nurse anesthetists (NAs) would likely benefit consumers and competition in Massachusetts.

According to the FTC staff comment, H.2009 would permit NPs and NAs to order tests and therapeutics, and issue written prescriptions, without a supervisory agreement with a Massachusetts physician. It also would permit them to administer and dispense certain controlled substances without such supervisory agreements.

Citing serious physician shortages in some areas of practice and some geographic regions in Massachusetts, the comment noted that excessive supervision requirements can exacerbate provider shortages and access problems, particularly for underserved populations that already lack adequate and cost-effective primary care services. “[W]e encourage the Massachusetts legislature to consider adopting provisions that would permit APRNs [advanced practice registered nurses] to deliver the full range of health care services they are trained and certified to provide.”

The staff comment concluded that H.2009 would streamline the regulation of NPs and NAs, and permit NPs and NAs to more fully utilize their education and experience in serving Massachusetts health care consumers. Absent good grounds to continue existing supervision requirements, removing them could “benefit consumers by improving access to care, containing costs, and expanding innovation in health care delivery. . . Removing unnecessary and burdensome requirements may benefit Massachusetts consumers by increasing competition among health care providers.”

The comment is part of the FTC’s ongoing efforts to promote competition in the health care sector, which benefits consumers through lower costs, better care, and more innovation.

The Commission vote approving the comment was 4-0. (FTC File No. V140002; the staff contact is Daniel J. Gilman, Office of Policy Planning, 202-326-3136).

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FDIC Announces Upcoming Community Affairs Webinar:Savings Strategies During America Saves Week 2014

Summary:

Highlights:

Related posts:

Revisions to Regulatory Reports

Summary:

Highlights:

Related posts:

Related posts:

FDIC Announces Upcoming Community Affairs Webinar:
Savings Strategies During America Saves Week 2014