The FTC’s past week invited change as the Commission finalized an updated Energy Labeling Rule and welcomed two new senior agency leaders. This story and more after the jump.
FTC Updates (October 3-7, 2022)
FTC Updates (September 5-9, 2022)
The FTC had a lighter week following Labor Day as the Commission hosted a public forum on its proposed rulemaking on commercial surveillance and lax data security practices. A D.C. federal court judge handed the FTC a victory when it denied a request from Facebook to turn over the FTC’s analysis of Facebook’s acquisition of Instagram and WhatsApp. The Commission ended the week by announcing its agenda for an open commission meeting scheduled for September 15. This story and more after the jump.
FTC Updates (August 8-12, 2022)
The FTC unveiled its Proposed Rule on Commercial Surveillance and Data Security. The Commission relied on the COVID-19 Consumer Protection Act and the Made in USA Labeling Rule to refer a complaint against personal protective equipment (“PPE”) and light fixture manufacturers. The case marks the second time the FTC has used the Made in the USA Labeling Rule to target companies for allegedly deceptive claims. Commissioner Alvaro Bedoya spoke at the National Association of Attorneys General Presidential Summit on technology threats to consumer protection. These stories and more after the jump.
FTC Updates (June 6-10, 2022)
The past week witnessed a big win to the FTC—its lawsuit against RCG Advances, LLC and its owner Robert Giardina has resulted in a permanent ban and return of more than $2.7 million to consumers. In the meantime, the Commission is sending checks totaling more than $164,000 to consumers who were harmed by a bogus mortgage relief scam. Lastly, the FTC initiated a new action against California-based Gravity Defyer Medical Technology Corporation and its owner Alexander Elnekaveh for allegedly deceptive pain-relief claims for Gravity Defyer footwear. These stories and more after the jump.
FTC Updates (April 25-April 29, 2022)
The FTC, in partnership with the DOJ, filed a complaint against a Voice over Internet Protocol service provider for the transmission of millions of allegedly illegal prerecorded telemarketing robocalls. The company and its owner are now facing injunctive and monetary penalties. The Commission also announced its intentions to update the Telemarketing Sales Rule with a notice and advance notice of proposed rulemaking. More on these stories after the jump.
Continue Reading FTC Updates (April 25-April 29, 2022)
FTC Updates (April 1-8, 2022)
This week, the FTC announced that it reached settlements with a state real estate board and an international online business coaching organization. It also announced that millions of dollars in refunds would be made available following a win at trial against a private website attempting to assist consumers with government services. The conduct ranges from allegedly anticompetitive behaviors in violation of Section 5 of the FTC Act as well as false and deceptive marketing and advertising practices. These stories and more after the jump.
Continue Reading FTC Updates (April 1-8, 2022)
FTC Updates (March 21-25, 2022)
The FTC’s Bureau of Consumer Protection issued a number of press releases regarding advertising and marketing practices in the fashion, finance, and the dietary supplement industries. The agency finalized a settlement over false and suppressed endorsement reviews. It also obtained injunctions over allegations ranging from false claims of removing negative information from credit reports to false health claims related to dissolvable film strips. The Commission also proactively issued warning letters to companies allegedly selling and advertising COVID-19 treatments.
Continue Reading FTC Updates (March 21-25, 2022)
FTC Updates (March 14-18, 2022)
The FTC had a busy week in the consumer protection realm. The agency settled with several companies over allegations ranging from shoddy data security to a full-on credit card laundering scam. Chair Khan and DOJ Assistant AG Kanter have remained busy in their efforts to gather information on merger guidelines, and, in case there wasn’t enough on the FTC’s plate, a U.S. Senator has asked the agency to dig up evidence of wrongdoing in the gas and oil markets. More on all of this after the jump.
Continue Reading FTC Updates (March 14-18, 2022)
FTC Updates (March 7-11, 2022)
Tuesday, March 8, 2022
Bureau of Consumer Protection: Deceptive/Misleading Conduct on Online Stock Trading Site
- The FTC is requiring RagingBull.com, an online stock trading site, to pay $2.425 million and to implement tactics that end the alleged deceptive acts, require affirmative approval from consumers signing up for a subscription, and provide consumers with a simple method of cancelation. According to FTC allegations, the online stock trading site used bogus earnings claims to trick consumers into signing up for services and then trapped them in hard to cancel subscription plans. More specifically, RagingBull.com allegedly made claims that consumers who followed the advice and trade recommendations of its “gurus” could “double or triple” their trading accounts quickly and easily. The FTC complaint further alleges that the defendant included testimonials from purported customers claiming to have made significant amounts of money in short periods of time, e.g., “$6500.00 in 20 minutes.” The complaint noted that Raging Bull’s services, which costs hundreds or thousands of dollars, were set up as recurring subscriptions that are charged quarterly or annually, and that subscribers faced significant hurdles in preventing those recurring charges. The FTC took issue with the allegedly different cancellation requirements that each service had. The proposed order comes on the coat-tail of the FTC’s efforts to crackdown on false earnings claims, returning millions to consumers and requiring click-to-cancel online subscriptions.
FTC Updates (February 28-March 4, 2022)
Monday, February 28, 2022
Bureau of Consumer Protection: Credit Card Debt Fraud
- The FTC has permanently banned a group of alleged scammers from the debt relief industry and has imposed a monetary judgment of $5.3 million. The ban and judgment stem from a settlement related to a lawsuit in which the Commission and the Florida Office of the Attorney General alleged that the defendants tricked seniors and financially distressed consumers into signing up for a debt relief scheme by “bombarding” them with telemarketing calls. Under the alleged scheme, the defendants falsely claimed that consumers could save thousands of dollars in credit card interest, when in reality the defendants did little more than collect upfront fees from consumers. The Commission voted unanimously to approve the stipulated final order based on the settlement.