Tag: Credit and Loans

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Peer-to-peer payment systems and crowdfunding are emerging financial technologies that could render the “Sorry, I forgot my wallet” cliché obsolete. Those talked-about trends are up for discussion at the FTC’s second FinTech Forum, set for Wednesday, October 26, 2016.
“Thank you for being a friend” – to consumers, that is. We admit it. We’re prone to break out in song a little too enthusiastically, but the recipient of the FTC Criminal Liaison Unit’s Prosecuting Attorney’s Award merits a chorus of congratulations.
The FTC’s lawsuit against AMG Services, Scott Tucker, and others challenged deceptive and unfair payday lending and debt collection practices that targeted cash-strapped consumers. The case has already resulted in an important ruling related to the scope of the FTC Act. But an order...
At the request of the Federal Trade Commission, a federal court has found that racecar driver Scott A. Tucker and several corporate defendants in a Kansas City-based payday lending scheme violated Section 5 of the FTC Act and has ordered them to pay $1.3 billion for deceiving consumers across the...
Not many kids play with yo-yos these days, but an FTC complaint against nine related Los Angeles-area car dealers charges that the companies engaged in (among other things) illegal yo-yo financing practices – and for affected consumers, it was no game. Even if you don’t have clients...
The Federal Trade Commission will return almost $20 million to more than 145,000 consumers across the country who were victimized by One Technologies LP and its two partner companies, in an online scheme that lured consumers with “free” access to their credit scores and then billed them a recurring...
One pundit has called it the most pervasive industry that nobody knows about, which is why the FTC has sponsored a workshop, brought law enforcement actions, and just published a Staff Perspective to call attention to the consumer protection implications.
The Staff Perspective recounts important themes arising out of the discussion by panelists at the full-day workshop. It discusses the mechanics of lead generation and how it functions in the modern economy. The paper describes who collects leads and how they are used – in particular...
The Federal Trade Commission announced today that it is issuing a second Federal Register Notice (FRN) on a proposed qualitative survey of consumers to learn about their experiences in buying and financing automobiles at dealerships, and is seeking clearance from the Office of Management and Budget...
The Federal Trade Commission is seeking public comment on its Disposal Rule, a rule which implements part of the Fair and Accurate Credit Transactions Act of 2003 (FACTA). The Rule, formally known as the Disposal of Consumer Report Information and Records Rule, requires certain persons who have...
According to the Sinatra standard, "Love is lovelier the second time around.” But the same can’t be said when a car dealership that has already settled an FTC law enforcement action for deceptively advertising financing and leasing terms engages in further misrepresentations.
Innovative financial technology is changing the way consumers borrow, share, and spend money, offering the promise of increased convenience and access to financial services. The FTC is hosting a series of FinTech events to broadly explore the implications of this financial technology...
Join law enforcement and consumer advocates for this free event to discuss issues affecting Michigan’s consumers. Learn about emerging trends and new and existing challenges. Explore ways to collaborate and share information and resources. Discussions will include recent consumer...
FinTech is the latest word in emerging financial technology and the FTC’s FinTech Forum will offer the latest word on the latest word. The topic for today’s half-day conference is marketplace lending – nonbank financial platforms that use technology to reach potential borrowers,...
The Federal Trade Commission’s Fintech Forum on marketplace lending is being held tomorrow, June 9, 2016, from 9:30 a.m. to 12:30 p.m. FTC Chairwoman Edith Ramirez will provide opening remarks. The event will feature panels panel exploring the current state of marketplace lending and its...

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