Tag: FinTech

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The Western Union Company (Western Union), a global money services business headquartered in Englewood, Colorado, has agreed to forfeit $586 million and enter into agreements with the Federal Trade Commission, the Justice Department, and the U.S. Attorneys’ Offices of the Middle District of...
“For many years, Western Union’s money transfer system has been used by fraudsters around the world to obtain money from their victims.” That’s how the FTC’s complaint against Western Union opens – and it tells a compelling story of a corporation the FTC says knew that massive fraud...
The Federal Trade Commission will host its third FinTech Forum on March 9, 2017, focusing on the consumer implications of two rapidly developing technologies: artificial intelligence and blockchain.Artificial intelligence focuses on the capability for machines to mimic human thinking or actions,...
Chances are that you or someone you know will be among 2.7 million AT&T Mobility customers who will be getting a refund soon. The FTC is returning a total of $88 million to people who were billed for premium text message services they didn’t authorize.
From the perspective of consumers, the whole purpose of prepaid debit cards – their reason for living, if you will – is to give consumers immediate access to their money. Those cards are an especially important financial lifeline for people who don’t have traditional bank accounts...
The Federal Trade Commission will host its second FinTech Forum on Oct. 26, focusing on two topics of increasing interest to consumers: crowdfunding and peer-to-peer payment systems. The event is designed to bring together perspectives from across the landscape of these two growing sectors, and it...
Technology experts, consumer advocates, and industry and government representatives will be part of the Federal Trade Commission’s first FinTech Forum event examining marketplace lending and its impact on consumers, taking place June 9.FTC Chairwoman Edith Ramirez will give opening remarks at the...
In Amazon’s Appstore, many apps geared toward kids prompted them to use fictitious currency, like a “boatload of doughnuts” or a “can of stars,” as part of game play. But a federal district court recently agreed with the FTC that Amazon’s practice of charging cold, hard cash for those...
Court will decide amount of monetary relief Amazon owes in coming months
Starting in summer 2016, the FTC began a forum series exploring emerging financial technology and its implications for consumers. The first FinTech Forum, held June 9, 2016, addressed marketplace lending. Marketplace lenders are typically nonbank financial platforms that leverage...
Butterfly Labs and two of its operators have agreed to settle Federal Trade Commission charges that they deceived thousands of consumers about the availability, profitability, and newness of machines designed to mine the virtual currency known as Bitcoin, and that they unfairly kept consumers’ up-...
A new report from the Federal Trade Commission outlines a number of questions for businesses to consider to help ensure that their use of big data analytics, while producing many benefits for consumers, avoids outcomes that may be exclusionary or discriminatory.“Big data’s role is growing in nearly...
The Federal Trade Commission hosted a workshop on October 30, 2015 to explore online lead generation in various industries including lending and education. The workshop brought together a variety of stakeholders, including industry representatives, consumer advocates, and government...
Defendants’ app installed malware that left phones with drained batteries, depleted data plans

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