Tag: Credit Reporting

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If you’re in the financial field, chances are you’re familiar with the FACT Act (sometimes called FACTA by friends and family).  It’s the Fair and Accurate Credit Transactions Act, which amended portions of the Fair Credit Reporting Act.  Research just released by the FTC puts the...
You know that phrase “If it quacks like a duck. . . “?  It’s applicable in the Fair Credit Reporting Act context, too.  If a company meets the legal definition of a “consumer reporting agency,” it’s a consumer reporting agency.  Including a disclaimer that says, in effect, “But we’re...
Every business generates paper destined for the circular file.  But if documents contain sensitive information, don’t toss them out in a way that could invite unauthorized access.  According to the FTC’s lawsuit against PLS Financial Services, PLS Group, and The Payday Loan Store of...
Some things you’d expect to find in a trash can:  last night’s potato peelings, the casserole that looked so promising in the cookbook photo, and Oscar the Grouch.  But if you run a business, the one thing you don’t want in the dumpster behind your office is paperwork containing...
If information is your stock in trade, FTC settlements with consumer reporting giant Equifax Information Services and San Diego-based Direct Lending Source merit your attention.  The cases are a timely reminder to businesses that when buying and selling data, it’s important to build...
Are you in the mobile app business?  If so, you’re probably considering some important questions, like what to tell users about your app, what information to collect from users, and what to do with any information you collect.  Whether you work for a tech giant or are striking out on...
HR could use better PR.   Say "human resources" and some people think of Dunder Mifflin’s joy-deficient Toby Flenderson from "The Office."  But you know better and appreciate the job your HR team does to keep your organization up and running.  They're also a critical line of defense...
The terms of the FTC’s Spokeo settlement apply just to Spokeo, but that case and other recent law enforcement actions offer insights for a much broader audience.
The lawsuit against data broker Spokeo is the FTC’s first Fair Credit Reporting Act case addressing the collection of online info — including data from social networking sites — when used in the context of employment screening.  But that’s not the only way the Spokeo settlement...
Like chicken and waffles or ham and pineapple on pizza, some combos don’t sound like they’d go together, but make sense once you find out more.  Put the FTC’s settlement with Spokeo on that list.  According to the FTC, data broker Spokeo violated the Fair Credit Reporting Act and used...
In Short: Advertising and Privacy Disclosures in a Digital World — an FTC workshop to discuss guidance on disclosures in the online and mobile world — is set for May 30, 2012.  This is the latest development in the ongoing conversation about revising the FTC’s 2000 guidance...
If you haven’t already, hover up to your toolbar and bookmark the FTC’s Regulatory Review page.  It’s your one-stop resource for what's coming up and what’s going down with Commission rules and guides of interest to your business and your clients.  Recent announcements about the FTC's...
Imagine for a moment your ideal customer.  They consider their choices carefully before buying.  They keep their accounts current.  When service is top-notch, they spread the word to friends and family.  If there’s a glitch, they give you a chance to correct the problem before posting...
In a world of smart phones and smart grids, the smart money is on companies that play it smart with consumers’ information.  Consistent with its 40 years’ experience protecting consumer privacy, the FTC’s just-released Report — Protecting Consumer Privacy in an Era of Rapid Change: ...
When the FTC conducts an investigation to see if a company has violated the law, it’s important that the process is efficient and not unduly burdensome on those involved.  The FTC’s Rules of Practice lay out the procedures the Commission follows.
To our knowledge, there’s no app yet that tells people when the FTC staff has sent warning letters discussing how the Fair Credit Reporting Act operates in the world of mobile applications. But the way the app market is growing, some savvy developer will have one out by the time you...
Of course, people are responsible for their debts.  However, at a certain point, how much time has passed becomes an affirmative defense under state law and creditors can’t prevail in court.  But what happens if a payment is made on a time-barred debt?  A consumer can really get...
In celebration of Halloween — and with apologies to Edgar Allen Poe — here’s our take on what companies can do to make sure spooky business practices don’t come back to haunt them. Once upon a midnight lawful Pondering practices, good and awful, Reading through the U.S. Code For dos...
Savvy executives like to stay in the loop on FTC activities that could affect their industry.   They make it a habit to scan the headlines or check for relevant workshops or reports.  But there’s a third category of information a bit less understood: closing letters from BCP staff.In...

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