The FTC announced that its roundtable discussion with state attorneys general, which had been set for March 25, will be postponed due to logistical issues. A new date is not yet available on the FTC’s Hearings Calendar, and an agenda has not been posted. This scheduled hearing is part of a larger series of
The FTC issued a press release last week seeking comment on proposed changes to two rules under the Gramm-Leach-Bliley Act of 1999 (the “GLBA Act”) to increase data security for financial institutions and better protect consumers.
The Commission has sought comment on the Safeguards Rule and the Privacy Rule under the GLBA Act. The
On February 25, the Federal Trade Commission announced that it had finalized a consent order settling its claims against online lender SoFi in connection with SoFi’s allegedly misleading advertising of its student loan refinancing products.
The FTC issued a complaint in October 2018 alleging that SoFi, for more than two years, had overstated the
On February 25, the Federal Trade Commission and the Consumer Financial Protection Bureau reauthorized their Memorandum of Understanding, or “MOU.”
The MOU, which governs the FTC’s and CFPB’s joint operations, focuses on five key areas of cooperation:
A federal bankruptcy court for the Southern District of Florida has ruled that the owner of a computer-financing scheme cannot hide behind a bankruptcy filing to shield himself from complying with a contempt order that required him to pay $13.4 million for violating an FTC order.
Joseph K. Rensin founded BlueHippo Funding, LLC and its
The Supreme Court agreed to hear a consumer’s appeal from the Third Circuit’s ruling that his claims under the Fair Debt Collection Practices Act were time-barred despite being brought within one year of discovering the violation. The circuits have been split on whether the one-year statute of limitations under the FDCPA begins to run when
On February 13, the Federal Trade Commission issued its annual report for fiscal year 2018 and announced that enforcement actions from July 2017 through June 2018 yielded more than $2.3 billion in refunds to allegedly defrauded U.S. consumers. To put the total sum in perspective, the $2.3 billion figure was almost eight times the FTC’s
The Federal Trade Commission has announced that it is retaining the CAN-SPAM Rule as is, deciding to keep the Rule unchanged as a result of a regulatory review. Hence, any business that sends marketing email must redouble efforts to comply with the CAN-SPAM Rule.
What is the CAN-SPAM Rule?
The CAN-SPAM Rule establishes requirements for
In a recent ruling, the Second Circuit Court of Appeals affirmed the district court’s $10 million disgorgement order assessed jointly and severally not only against collection agencies but also their individual owners. The Second Circuit’s decision can be found here.
This case involved thirteen debt collection companies that operated pursuant to the same strategy:
On February 13, the U.S. Chamber of Commerce released model data privacy legislation and urged Congress to pass a federal data privacy law.
“Technology has changed the way consumers and businesses share and use data, and voluntary standards are no longer enough,” said Tim Day, senior vice president of the Chamber’s Technology Engagement