Blog Posts Tagged with Credit and Finance

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Advertisers should be uneasy about unproven disease claims

The “before” photo showed a silver-haired lady in a wheelchair with a hand on her furrowed brow. “24 hours after” and she’s smiling and knitting on the sofa, thanks to a dietary supplement proven in a 1200-person clinical study to reduce or eliminate the symptoms of joint pain, hypertension, diabetes, and depression. And how’s this for a bonus? Users can “easily lose between 8-13 lbs. per week.”

Fauxmats, false claims, phony celebrity endorsements, and unauthorized charges

Online news reports appeared to feature the miraculous results celebrities like Will Ferrell and Paula Deen achieved from muscle-building supplements, weight loss products, and other merchandise. But according to the FTC, those “news reports” were deceptively formatted ads and the claims about “miraculous” results were false or misleading. And those weren’t the only secrets hidden within the promotions.

Lone Star, but united partners

Everyone knows that The stars at night are big and bright, deep in the heart of Texas. But did you know that The AG’s team is a partner’s dream, deep in the heart of Texas?

That’s the tune we’re humming to honor our colleagues at the Consumer Protection Division of the Office of the Texas Attorney General – recipients of the FTC Bureau of Consumer Protection’s Partner Award. The Award recognizes their extraordinary contribution to our shared mission to fight fraud and deception in the marketplace.

Game of Loans: The stark truth about student loan “debt relief” claims

If you think the feuds among the Great Houses of Westeros get intense, consider the dinner table discussions about student loan debt. It’s not just taking a toll on the home front. Experts report that the $1.4 trillion debt burden carried by 42 million Americans is affecting workplace productivity, too. But at a time when consumers need accurate information, opportunistic outfits fly in like Daenerys Targaryen’s dragons with false promises of debt reduction or forgiveness.

Who won the FTC Criminal Liaison Unit’s Consumer Shield Award? Here’s a clue.

Many historians acknowledge it as the oldest federal law enforcement agency, tracing back to 1772. Benjamin Franklin was integral to its establishment. And the FTC’s Criminal Liaison Unit (CLU) is proud to present one of its employees with the Consumer Shield Award, which recognizes outstanding work by a law enforcement officer in fighting consumer fraud.

FTC alleges ISO, sales agents laundered millions in credit card charges

Consumer scams need four things to survive: food, water, air – and access to the credit card system. Credit card networks build protections into the system to engage lawful businesses while keeping an eye out for fraud. When people use tactics to try to work around those protections, law enforcers take notice.

We can’t go for that (no can do)

Of course, phantom debt collection – the practice of pressuring people to pay “debts” they don’t owe – harms consumers. But as an FTC complaint demonstrates, when phantom debt collectors strike, they could affect your company, too. According to the FTC, a Florida-based outfit engaged in a scheme to defraud consumers through the collection of debts people didn’t actually owe or the company didn’t have the authority to collect.

How is your business honoring Month of the Military Consumer?

Pork Chop Hill Road, Screaming Eagle Boulevard, Hell on Wheels Avenue, or my former home on Patton Drive. If those street names sound familiar, chances are you’re a servicemember, a veteran, or part of a military family. July is the Month of the Military Consumer and the FTC has resources to help keep members of the military fiscally fit and scam savvy – and a tip for businesses that do business with military consumers.

Lead generation: When the “product” is personal data

There’s been a lot of talk about “ping trees” and other activities associated with the lead generation industry. The FTC’s concern is that consumers don’t get ponged in the process. A proposed settlement gives a glimpse into how one lead generation company operated and offers insights for businesses about compliance considerations when the “product” in question is consumers’ personal data.

FTC settlement with Amazon yields $70 million for consumers, advice for business

The FTC’s law enforcement action against Amazon for unauthorized billing recently settled, leaving two key takeaways: 1) Consumers are eligible for more than $70 million in refunds; and 2) Businesses need to get customers’ express consent before placing charges on their credit or debit cards.

Students not a-loan in fighting debt relief deception

First came the companies claiming they could reduce consumers’ credit card debt. Next were the outfits saying they could renegotiate mortgages or save homes from foreclosure. Now that people are struggling with the trillion-dollar burden of student loan debt, some marketers are making dramatic promises about reduced payments and loan forgiveness – representations the FTC alleges are false or misleading.

Annual highlights shed light on FTC year in review

On the first day of law school, students learn the Latin maxim Res ipsa loquitor – “The thing speaks for itself.” Pardon the inaccurate translation, but in the case of the FTC’s Annual Highlights, we think Tabula crustum ipsa loquitor – “The pie chart speaks for itself.” In other words, the statistical recap of the past year tells an important story about what the FTC is doing to protect consumers and promote competition.

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