Financial Technology: Protecting Consumers on the Cutting Edge of Financial Transactions
The Federal Trade Commission is committed to protecting consumers in the fast-moving realm of financial technology, also known as FinTech. Consumers today have ever greater options to store, share, and spend money with the aid of new technologies entering the market at breakneck speed. These emerging financial technologies can empower consumers by providing greater financial choices and unprecedented convenience. At the same time, market participants offering these exciting new products must keep in mind important consumer protection principles as they continue to innovate for consumers’ benefit.
The FTC continues to focus on how consumers are putting FinTech tools to use—from mobile payments to virtual currencies to crowdfunding, and more. The agency conducts workshops and writes reports examining issues related to financial technology and examining the benefits and risks to consumers. In addition, the FTC uses its authority under the FTC Act and other laws to bring law enforcement actions against companies whose deceptive or unfair actions harm consumers.
- Cleo AI, Inc., FTC v. ( )
- WealthPress, Inc., et al., FTC v. ( )
- FloatMe ( )
- Voyager Digital, LLC., et al., FTC v. ( )
- Celsius Network, Inc., et al., FTC v. ( )
- LendingClub Corporation ( )
- Avant, LLC ( )
- Beam Financial Inc. ( )
- Thomas Dluca, et al. (Bitcoin Funding Team) ( )
- The Western Union Company ( )
- AlliedWallet, Inc. ( )
- Social Finance, Inc. and Sofi Lending Corp., In the Matter of ( )
- MoneyGram International, Inc. ( )
- Tatto, Inc., also d/b/a Winbigbidlow and Tatto Media, et al. ( )
- NetSpend Corporation ( )
- PayPal, Inc., In the Matter of ( )
- Pact, Inc. ( )
- Blue Global and Christopher Kay ( )
- Amazon.com, Inc. ( )
- T-Mobile USA, Inc. ( )
- Cash Advance Company Cleo AI Agrees to Pay $17 Million As Result of FTC Lawsuit Charging It Deceives Consumers ( )
- FTC Refers Case Against Online Cash Advance Firm Dave Inc. to Department of Justice ( )
- FTC Takes Action Against Online Cash Advance App Dave for Deceiving Consumers, Charging Undisclosed Fees ( )
- FTC Sends More Than $17 Million to Consumers Harmed by Brigit’s Deceptive Claims, Junk Fees, and Confusing Cancellation Process ( )
- FTC Sends More Than $2.6 Million to Consumers Harmed by FloatMe’s Deceptive and Discriminatory Lending Practices ( )
- New FTC Data Shows Massive Increase in Losses to Bitcoin ATM Scams ( )
- FTC Sends $1.2 Million in Refunds to Consumers Harmed by Deceptive Investment Claims ( )
- FTC Acts to Stop FloatMe’s Deceptive ‘Free Money’ Promises, Discriminatory Cash Advance Practices, and Baseless Claims around Algorithmic Underwriting ( )
- FTC Reaches Settlement with Crypto Company Voyager Digital; Charges Former Executive with Falsely Claiming Consumers’ Deposits Were Insured by FDIC ( )
- FTC Reaches Settlement with Crypto Platform Celsius Network; Charges Former Executives with Duping Consumers into Transferring Cryptocurrency into their Platform and then Squandering Billions in User Deposits ( )
- New Analysis Finds Consumers Reported Losing More than $1 Billion in Cryptocurrency to Scams since 2021 ( )
- FTC Finds Huge Surge in Consumer Reports about Losing Money To Scams Initiated Through Social Media ( )
- FTC Returns More Than $3.7 Million To Consumers Harmed by Online Lender Avant ( )
- FTC Urges Federal Reserve Board to Require Debit Card Gatekeepers to Compete Fairly ( )
- FTC Data Shows Huge Spike in Cryptocurrency Investment Scams ( )
- Mobile Banking App Settles FTC Allegations that It Misled Users about Access to Funds and Interest Rates ( )
- FTC Alleges Mobile Banking App Misled Users About Access to Their Funds, Failed to Deliver on Promised High Interest Rates ( )
- FTC Sends Refunds to Victims of Deceptive Money-Making Schemes Involving Cryptocurrencies ( )
- Operator of Deceptive Crowdfunding Scheme Banned from Future Crowdfunding as Part of FTC Settlement ( )
- Promoters of Deceptive Chain Referral Schemes Involving Cryptocurrencies Agree to Settlement with FTC ( )
- Bitcoin ATMs: A payment portal for scammers ( )
- Back to business #3: Looking for small business financing?( )
- FTC says banking app Beam made unbalanced claims( )
- Protecting small businesses seeking financing during the pandemic( )
- Small business financing: Considerations for borrowers and lenders during the coronavirus crisis( )
- Small business financing: Staff Perspective outlines issues( )
- FTC consumer protection year in review offers 2020 vision for your business( )
- FinTech finds a home in the FTC Business Center( )
- Forum on small business financing: Watch the webcast now( )
- FTC case against backpack seller unpacks how law applies in crowdfunding( )
- Putting the focus on small business financing( )
- The Avant settlement: New financial platforms, established consumer protections( )
- The “law” of averages: FTC challenges SoFi’s student loan refinancing claims( )
- FTC challenges Lending Club’s “No Hidden Fees” claims( )
- Venmo settlement addresses availability of funds, privacy practices, and GLB( )
- So You Received a CID: FAQs for Small Businesses( )
- Lead generation: When the “product” is personal data( )
- FTC settlement with Amazon yields $70 million for consumers, advice for business( )
- $20 million FTC settlement requires Uber to have proof for earnings, auto financing claims( )
- $586 million Western Union settlement: Be careful about the company your company keeps( )
- Strictly Business: An FTC Forum on Small Business FinancingMay 8, 2019
- Decrypting Cryptocurrency ScamsJune 25, 2018
- FinTech Forum: Artificial Intelligence and BlockchainMarch 9, 2017
- FinTech Series: Marketplace LendingJune 9, 2016
- Follow the Lead: An FTC Workshop on Lead GenerationOctober 30, 2015
- Big Data: A Tool for Inclusion or Exclusion?September 15, 2014
- Spring Privacy Series: Mobile Device TrackingFebruary 19, 2014
- Internet of Things - Privacy and Security in a Connected WorldNovember 19, 2013
- Mobile Security: Potential Threats and SolutionsJune 4, 2013
- Mobile Cramming: An FTC RoundtableMay 8, 2013
- Paper, Plastic... or Mobile? An FTC Workshop on Mobile Payments April 26, 2012
- Big Data: A Tool for Inclusion or Exclusion? Understanding the Issues (FTC Report) ( )
- Federal Trade Commission Staff Report On the November 2013 Workshop Entitled The Internet of Things: Privacy and Security in a Connected World ( )
- What's the Deal? A Federal Trade Commission Study on Mobile Shopping Apps (August 2014) ( )
- Mobile Cramming: A Federal Trade Commission Staff Report (July 2014) ( )
- Start with Security: A Guide for Business ( )
- FTC's Endorsement Guides: What People Are Asking ( )
- Stick with Security: A Business Blog Series ( )
- Protecting Personal Information: A Guide for Business ( )
- Comience con seguridad: una guía para negocios ( )
- Cómo Proteger la Información Personal: Una Guía para Negocios ( )
- How To Comply with the Privacy of Consumer Financial Information Rule of the Gramm-Leach-Bliley Act ( )
