FOR RELEASE: FEBRUARY 28, 1997 FTC Seeks Public Comment on Proposed Notices of New Rights and Duties under the Fair Credit Reporting Act
Recent amendments to the Fair Credit Reporting Act ("FCRA") will require consumer reporting agencies to provide (1) a summary of rights under the law to consumers, (2) a notice of responsibilities under the law to parties who regularly furnish such agencies with consumer information, and (3) a notice of responsibilities under the law to parties who obtain consumer reports from the agency.
February 26, 1997
FOR RELEASE: FEBRUARY 28, 1997 FTC Requires Divestiture of Electronic Autoparts Catalog To Preserve Competition in the Automotive Aftermarket
The Federal Trade Commission today announced a settlement resolving competitive concerns arising from the proposed merger of the two leading providers of management information systems and electronic parts catalogs for the automotive parts aftermarket. According to the FTC, absent relief, the proposed acquisition of Triad Systems Corporation ("Triad") by Cooperative Computing, Inc. ("CCI") would have substantially lessened competition in the development and sale of electronic parts catalogs and likely resulted in increased prices and reduced services in violation of antitrust laws.
For Your Information: FEBRUARY 28, 1997 FTC Seeks Public Comment on Revisions to Franchise Rule
The Federal Trade Commission is seeking public comment on whether it should revise its Franchise Rule to reduce incon sistencies in federal and state disclosure requirements governing franchise sales, and to address changes in the marketing of franchises, such as the sale of franchises internationally and through the Internet.
FOR RELEASE: FEBRUARY 28, 1997 Defendant in Credit Repair Case Agrees To Settle FTC's Charges
Brian W. Cutright has agreed to settle charges the Federal Trade Commission brought against him in connection with his role in the now-defunct National Credit Foundation, Inc. ("National"), a credit repair business based in Phoenix.
FOR RELEASE: FEBRUARY 28, 1997 Figgie International To Pay $150,000 Civil Penalty To Settle Federal Charges
Harry E. Figgie, Jr. and Figgie International Inc., have agreed to pay a $150,000 civil penalty to settle federal charges that they failed to notify the nation's two antitrust enforcement agencies before Mr. Figgie acquired restricted voting stock in Figgie International, the Federal Trade Commission announced today.
FOR RELEASE: FEBRUARY 28, 1997 Splitfire Settles FTC Charges: Economy, Efficiency Claims are Deceptive
In the latest in a series of FTC cases targeting deceptive ads for products that promise to improve automobile performance and economy, SplitFire, Inc., has agreed to settle Federal Trade Commission charges that economy, efficiency and improved performance claims for its spark plugs were false or unsubstantiated.
FOR RELEASE: FEBRUARY 28, 1997 Wireless Communications Company Settles FTC Charges
Republic Communications Corp. has agreed to settle Federal Trade Commission charges that it misrepresented its management of federal wireless communications licenses, and that its subsidiary sold bogus brokerage services to consumers holding such licenses.
FOR RELEASE: FEBRUARY 28, 1997 New FTC Report Documents Fraud-Busting Campaigns
Federal and state law enforcement actions, combined with innovative public-private sector consumer education campaigns, have stopped many fraudulent operations and are slowing the growth of several others, according to a report issued today by the Federal Trade Commission.
For Your Information: FEBRUARY 28, 1997 Announced Actions for February 11, 1997
The Commission’s consent orders with five major automobile manufacturers -- General Motors Corporation, of Detroit, Michigan; American Honda Motor Co., Inc., of Torrance, California; American Isuzu Motors Inc., of Whittier, Califorinia; Mazda Motor of American, Inc., of Irvine, California; and Mitsubishi Motor Sales of America, Inc., of Cypress, California -- settle charges that the companies’ car lease advertising violated the Consumer Leasing Act, Regulation M and the FTC Act, in part, by inadequately disclosing significant fees and lease terms.
FOR RELEASE: FEBRUARY 28, 1997 FTC Gives Final Approval to Time/Warner Deal
Following a public comment period in which 12 comments were received, the Federal Trade Commission announced today it has made final, without modification, a consent agreement with Time Warner Inc. and Turner Broadcasting System, Inc.
For Your Information: FEBRUARY 28, 1997 Announced Actions for February 7, 1997
Wesley-Jessen Corporation, of Des Plaines, Illinois, has applied for FTC approval to divest the opaque lens business of Pilkington Barnes Hind International, Inc., which Wesley-Jessen acquired in its merger with Pilkington, to The Cooper Companies, Inc., of Irvine and Pleasanton, California.
FOR RELEASE: FEBRUARY 28, 1997 Money Tree To Pay $75,000 in Civil Penalties, up to $1.2 Million in Consumer Redress
The Federal Trade Commission today announced two separate but related settlement agreements with The Money Tree, Inc. ("Money Tree"), a Georgia-based lender, and its president, Vance R. Martin -- one involving allegations that Money Tree and Martin discriminated against consumers who receive public assistance and elderly consumers when these consumers applied for loans from Money Tree, and the other involving allegations that Money Tree required consumers to purchase credit-related insurance and auto club memberships (thus substantially increasing the cost of their loans) but failed to disclose to consumers the true cost of their credit.
February 3, 1997
For Your Information: FEBRUARY 28, 1997 MARTA, FTC Fight Telemarketing Fraud in Atlanta
The Federal Trade Commission and the Metropolitan Atlanta Rapid Transit Authority (MARTA) have entered into a partnership to stamp out telemarketing fraud in the Atlanta area.