The deadline for motor vehicle dealer compliance with the Federal Trade Commission’s revised Used Car Rule is rapidly approaching. The January 28, 2018 compliance date imposed by the FTC requires dealers, as of that date, to use the agency’s revised window sticker, known as the “Buyers Guide,” on all used vehicles offered for public sale.
On January 10, the FTC issued a report summarizing the themes and key takeaways from a recent workshop it jointly hosted with the National Highway Traffic Safety Administration (NHTSA) on privacy and security issues related to connected and autonomous cars.
The report – styled a “Staff Perspective” – noted several important themes that emerged from
2017 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation and forthcoming changes from the Trump Administration, Troutman Sanders is uniquely positioned to help its clients find successful resolutions and stay ahead of the compliance curve.
In this report, we share developments on consumer
In its Office of Claims and Refunds Annual Report, the Federal Trade Commission reports that its law enforcement efforts between July 1, 2016, and June 30, 2017, returned $6.4 billion in refunds to consumers, including $391 million sent directly by the FTC to 6.28 million consumers. This is the first such report on money returned
On December 22, the Federal Trade Commission issued its biennial report to Congress on the use of the National Do Not Call Registry, which is the database maintained by the federal government listing the telephone numbers of individuals who have requested that telemarketers not call them.
According to the report, 3.8 million phone numbers were
On December 13, the U.S. Court of Appeals for the Eleventh Circuit affirmed the imposition of joint and several liability on a payment processor that had provided “substantial assistance” to another entity that violated a federal ban on improper telemarketing practices. The decision leaves the payment processor responsible for paying the $1.7 million judgment with
The Board of Governors of the Federal Reserve System recently issued a Consent Order against Peoples Bank, based in Lawrence, Kansas, to settle claims of deceptive residential mortgage origination practices that arose from the bank’s charging of fees in mortgage originations. The Federal Reserve alleged that Peoples told mortgage borrowers that certain additional fees that
On November 8, the Federal Trade Commission announced that it had approved a final order settling claims arising out of a data breach at Georgia-based tax preparation firm TaxSlayer, LLC.
In late 2015, hackers hit TaxSlayer with a “list validation” or “credential stuffing” attack. With that type of attack, hackers attempt to use login credentials
The FTC has reached a proposed consent agreement with Victory Media, Inc., resolving allegations that Victory violated Section 5 of the FTC Act. The allegations stem from Victory’s promotion of post-secondary schools to members of the armed forces.
Victory advertises to members of the armed forces in a variety of ways, including through its publications
New York Attorney General Eric Schneiderman announced two settlements with motor vehicle dealer groups that provide for over $900,000 in restitution to approximately 6,400 New York State consumers. The settlements also require the dealers to pay $135,000 in penalties and costs to the state for the unlawful sale of credit repair and identity theft protection