Tag: Credit and Finance

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Federal Trade Commission Acting Chairwoman Rebecca Kelly Slaughter issued the following statement regarding today’s decision from the U.S. Supreme Court in the matter of AMG Capital Management LLC v. FTC:
Yellowstone Capital, a provider of merchant cash advances, will pay more than $9.8 million to settle Federal Trade Commission charges that it took money from businesses’ bank accounts without permission and deceived them about the amount of financing business owners would receive and other features...
The Federal Trade Commission and the Office of the Illinois Attorney General are sending payments totaling more than $4 million to more than 10,000 consumers who lost money to the Stark Law phantom debt collection scheme.
The Federal Trade Commission is sending refund payments totaling more than $9.7 million to consumers who were automatically billed for ABCmouse renewals and consumers who were prevented from canceling their memberships.
The FTC’s long-standing Holder Rule requires businesses to include a special notice in credit contracts that gives consumers certain protections. Today, a Staff Note reiterates the Commission’s determination that the Rule applies regardless of the size of the transaction – and...
The staff of the Federal Trade Commission has issued a note correcting previous staff guidelines on the FTC’s Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses—commonly known as the Holder Rule.
Have you marked your calendar for April 29, 2021, to attend Bringing Dark Patterns to Light: An FTC Workshop? The virtual event will examine digital “dark patterns,” potentially deceptive or unfair user interfaces on websites and mobile apps. In addition to your participation, the FTC...
En artículos publicados en los blogs de la FTC se destacan los requerimientos clave de la moratoria de los CDC y se advierte a los arrendadores: no desalojen—ni amenacen con el desalojo— a los inquilinos en incumplimiento de la moratoria de los CDC o de cualquier otra medida estatal o local...
Federal Trade Commission Acting Chairwoman Rebecca Kelly Slaughter and Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio issued the following statement today regarding the national moratorium on evictions during the pandemic:
The Federal Trade Commission has provided guidance for consumers and businesses related to the national moratorium on evictions during the pandemic, which was extended today by the Centers for Disease Control and Prevention (CDC). A recent Consumer Financial Protection Bureau (CFPB) report showed...
The operator of a mobile banking app will be banned from offering such services and must give full refunds to users as part of a settlement with the Federal Trade Commission over allegations the company falsely promised users they would have “24/7” access to their funds and earn high interest rates...
Equal access to credit based on non-discriminatory criteria is an essential component of economic opportunity and a fair marketplace. The Equal Credit Opportunity Act prohibits creditors from denying credit based on a host of discriminatory criteria, including race, religion, national...
This time last year, we all were adjusting to a new normal. As the pandemic took hold, the FTC kicked into high gear on COVID-19-related issues, while continuing its work on other fronts, too. The just-announced 2020 Annual Highlights reflect important enforcement actions, policy...
The staff of the Federal Trade Commission has provided the Consumer Financial Protection Bureau (CFPB) with an annual summary of the FTC’s activities in the debt collection arena.
Defendants in two Federal Trade Commission cases will be permanently banned from the debt collection industry as part of settlements resolving FTC charges they threatened consumers with legal action to collect on debts that did not exist.
Misleading tactics in the sale of magazine subscriptions is an illegal practice the FTC has challenged in numerous cases. But an action just filed by the FTC and the State of Florida focuses on a new audience allegedly targeted for deception: the families of people who are...
It’s like a scene from an Indiana Jones movie. Our hero enters a cave in search of treasure and every labyrinthine turn poses another unexpected hazard – trip-wired blades, runaway boulders, and snakes (“I hate snakes”). But we’re not talking about a rollicking adventure flick. We’re...
The owners and operators of a vast payday lending scheme that overcharged consumers millions of dollars will be permanently banned from the lending industry under the terms of a settlement with the Federal Trade Commission. The settlement also provides that nearly all outstanding debt—made up...

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