Links in “FTC”
- FTC Finalizes Telemarketing Rule
The FTC has issued a final telemarketing rule that might have some adverse effect on the payment systems used by credit unions. The new amendments affect state-chartered credit unions, but not federally chartered credit unions, and third party telemarketers used by both, could, in particular, raise issues with remotely created checks. [12/14/15]
- Is the FTC’s Understanding of “Inherently Deceptive” Inherently Flawed?
The FTC is not a fan of online lead generation for loans in which the customer fills out a form and gets back results that may not offer the "best" results at the top, but may offer the info on the lender willing to pay the most for the opportunity, finding such a practice "inherently deceptive." Um, let's discuss Marketing 101, shall we? [12/11/15]
- Focus Increases on Debt Collection Activity
You donât need to look any further than the high volume of consumer complaints about collection practices and recent CFPB enforcement actions against debt collectors to recognize that the focus on collection activities has increased. Recently, the FTC as well as federal and state law enforcement agencies have jointly launched Operation Collection Protection to focus on enforcement of the Fair Debt Collection Practices Act and other federal and state laws that govern collection activities. [11/24/15]
- Massive Debt Collection Crackdown
The FTC has joined with other law enforcement authorities around the country to launch "Operation Collection Protection" against debt collectors who use illegal tactics. The crackdown announcement was accompanied by the announcement of 30 new law enforcement actions. [11/5/15]
- FTC to Crack Down on Collection Industry
FTC is expected to announce today an initiative to crack down on the debt collection industry. [11/4/15]
- What Banks Can Learn from Why the FTC Went After Sprint
Sprint charged customers with lower credit scores an extra monthly fee. But what got the mobile service provider in hot water with the FTC wasn't that it charged these customers more, it was that it failed to let the consumers know until it was too late for them to choose another mobile carrier. [10/23/15]
- Auto Dealers In Hot Water For Misleading Advertising
The Federal Trade Commission (FTC) has approved final consent orders against two Las Vegas auto dealers for misrepresenting the cost of cars in advertising, including the promotion of heavily discounted prices which were not generally available to consumers. [10/21/2015]
- Avoiding Wyndam’s “Naughty 9” Security Failures
The FTC went after Wyndham hotels for its nine security failures that resulted in three data breach incidents that exposed more than 600,00 payment cards and more than $10 million in fraudulent charges. Do any of these nine hit too close to home? [9/28/15]
- Appeals Court: FTC Has Authority to Police Cyber Security
A U.S. appeals court gives the Federal Trade Commission power to hold a hotel operator accountable for breaches in which hackers stole credit card and other details from more than 600,000 consumers. [8/25/15]
- Pharmaceutical Companies Busted for Conspiring to Raise Prices of Generic Drugs
Two pharmaceutical companies (Concordia and Par) have settled charges from the FTC for entering an illegal non-compete agreement. The agreement would reduce competition in the market for a generic ADHD drug, which in turn would increase profits for the companies at the expense of higher prices for consumers. Under the FTC settlement, the two companies are prohibited from entering further agreements to keep prices artificially high. [8/19/15]
