The Federal Trade Commission has approved the publication of a Federal Register notice announcing the rules and guide that it will review in 2008 under its routine regulatory review process. As detailed in the notice, which will be published soon and is available now on the FTC’s Web site and as a link to this […]
Category Archives: Federal Trade Commission
Student Lender Settles FTC Charges That It Failed to Safeguard Sensitive Consumer Information and Misrepresented Its Security Practices
A student loan company has agreed to settle Federal Trade Commission charges that it failed to provide reasonable and appropriate security for consumers’ sensitive personal information in violation of federal law. The proposed settlement will require the company to implement a comprehensive information-security program and obtain audits by an independent third-party security professional every other […]
Work-At-Home BizOpp Marketers Settle FTC Charges
A group of business opportunity marketers who told consumers they could make substantial income processing medical claims from home have agreed to settle Federal Trade Commission charges that they misled consumers in violation of federal law. The settlement is a result of Project Fal$e Hope$, an FTC-led effort that targeted bogus business opportunities and work-at-home […]
National Consumer Protection Week Focuses Efforts on Promoting Financial Education
The Federal Trade Commission has launched the 10th annual National Consumer Protection Week, March 2 – 8, 2008, in collaboration with federal, state, and local agencies and national consumer advocacy organizations committed to consumer protection and education. This year’s theme, “Financial Literacy: A Sound Investment,” encourages consumers to take steps to increase their financial know-how […]
FTC Sues Two Mortgage Foreclosure Rescue Operations
As part of the Federal Trade Commission’s intensified efforts to protect consumers from mortgage foreclosure rescue scams, the agency has filed two lawsuits charging six individuals and their businesses with falsely claiming that they will stop foreclosure. The FTC will seek to bar them from further violations and make them forfeit their ill-gotten gains. “Consumers […]
FTC Charges Mortgage Foreclosure Rescuers with Deceiving Homeowners
In an ongoing effort to crack down on businesses that prey upon homeowners facing foreclosure, the Federal Trade Commission has charged six businesses and three individuals with violating the Home Ownership and Equity Protection Act (HOEPA), the FTC Act, and the Truth in Lending Act (TILA) by enticing homeowners into high-cost, short-term loans secured by […]
Chairman Deborah Platt Majoras to Leave FTC in Late March
Federal Trade Commission Chairman Deborah Platt Majoras today announced her decision to leave the FTC in late March. Majoras was appointed by President George W. Bush and sworn into office on August 16, 2004. “It has been my honor to serve U.S. citizens as Chairman of the Federal Trade Commission,” Majoras said. “The FTC plays […]
FTC Testifies Before House Appropriations Subcommittee on Consumer Protection in Financial Services
The Federal Trade Commission today presented testimony before the U.S. House Committee on Appropriations, Subcommittee on Financial Services and General Government, discussing how the Commission protects consumers at every stage of the consumer credit life cycle, from the advertising and marketing of financial products to debt collection and debt relief. Lydia B. Parnes, Director of […]
Marketers of 7 Day Miracle Cleanse Program Banned From Infomercials
The marketers of the 7 Day Miracle Cleanse Program, a purported herbal colon-cleansing program, have agreed to settle Federal Trade Commission charges that they falsely claimed that their program would cure cancer and other serious diseases. Among other things, the settlements broadly ban them from involvement in future infomercials for any product, service, or program, […]
FTC Charges Three Internet Payday Lenders with Not Disclosing Required APR Information in Ads
Three payday lenders have agreed to settle Federal Trade Commission charges that their Internet advertising stated the cost of loans without disclosing annual percentage rate information that federal law requires. This information helps consumers compare the costs of these payday loans to other payday loans and to alternative forms of short-term credit. The settlements require […]