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.
- Celsius Network, Inc., et al., FTC v. ( )
- WealthPress, 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. ( )
- BF Labs, Inc. ( )
- Equiliv Investments (Prized) ( )
- Erik Chevalier (The Forking Path) ( )
- 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 ( )
- Operators of Payment Processing Firm Settle Charges for Assisting Fraudulent Schemes that Took More than $110 Million from Consumers ( )
- FTC to Host Strictly Business: A Forum on Small Business Financing ( )
- FTC Charges Operator of Crowdfunding Scheme ( )
- FTC Announces Agenda for May Forum on Small Business Financing ( )
- Online Lending Company Agrees to Settle FTC Charges It Engaged in Deceptive and Unfair Loan Servicing Practices ( )
- PayPal Settles FTC Charges that Venmo Failed to Disclose Information to Consumers About the Ability to Transfer Funds and Privacy Settings; Violated Gramm-Leach-Bliley Act ( )
- FTC Announces Agenda for March 9 FinTech Forum on Artificial Intelligence and Blockchain Technology ( )
- Western Union Admits Anti-Money Laundering Violations and Settles Consumer Fraud Charges, Forfeits $586 Million in Settlement with FTC and Justice Department ( )
- Brigit’s misleading financial practices were a bridge too far for consumers, FTC says(November 1, 2023)
- Back to business #3: Looking for small business financing?(June 16, 2021)
- FTC says banking app Beam made unbalanced claims(November 18, 2020)
- Protecting small businesses seeking financing during the pandemic(August 3, 2020)
- Small business financing: Considerations for borrowers and lenders during the coronavirus crisis(April 15, 2020)
- Small business financing: Staff Perspective outlines issues(February 26, 2020)
- FTC consumer protection year in review offers 2020 vision for your business(January 8, 2020)
- FinTech finds a home in the FTC Business Center(May 24, 2019)
- Forum on small business financing: Watch the webcast now(May 8, 2019)
- FTC case against backpack seller unpacks how law applies in crowdfunding(May 6, 2019)
- Putting the focus on small business financing(April 23, 2019)
- The Avant settlement: New financial platforms, established consumer protections(April 15, 2019)
- The “law” of averages: FTC challenges SoFi’s student loan refinancing claims(October 29, 2018)
- FTC challenges Lending Club’s “No Hidden Fees” claims(April 25, 2018)
- Venmo settlement addresses availability of funds, privacy practices, and GLB(February 27, 2018)
- So You Received a CID: FAQs for Small Businesses(January 19, 2018)
- Lead generation: When the “product” is personal data(July 5, 2017)
- FTC settlement with Amazon yields $70 million for consumers, advice for business(May 30, 2017)
- $20 million FTC settlement requires Uber to have proof for earnings, auto financing claims(January 19, 2017)
- $586 million Western Union settlement: Be careful about the company your company keeps(January 19, 2017)
- 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) ( )
- 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 ( )
- Start with Security: A Guide for Business ( )
- 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 ( )
