Blog

Earlier this fall, the Commission announced two separate rulemaking initiatives aimed at updating the rules and interpretations that implement the Hart-Scott-Rodino Act. After publication of the notice in the Federal Register, the deadline for comments on both initiatives is now set for February 1, 2021. Understanding the breadth of topics and the significance of the proposed changes, we want to encourage a wide range of stakeholders to submit...

What are the biggest risks of parking? A dinged door? A bruised bumper? For consumers victimized by the pernicious practice of debt parking, the impact on their financial health can be devastating. And if you’re a debt collector who engages in debt parking, an FTC settlement with Midwest Recovery Systems suggests you could face law enforcement action for violations of the FTC Act, the Fair Debt Collection Practices Act, and the Fair Credit...

A mobile banking app that promises consumers 24/7 access to their money and a high rate of interest? Sounds like a perfect 10. But according to a lawsuit filed by the FTC, San Francisco-based Beam Financial stumbled on required skills and definitely didn’t stick the dismount. Since March 2018, Beam Financial and CEO Aaron Du have advertised that people using the Beam app will “get 24/7 access to [their] funds” with “NO LOCKUP.” On its website...

For people dealing with student loan debt – your employees, a family member, or maybe you – the CARES Act gives emergency grants to qualifying borrowers. But like other financial assistance programs, consumers need to know key details up front. As part of its ongoing effort to monitor the marketplace for questionable claims arising from the COVID pandemic, FTC staff just sent a warning letter to New York-based Frank Financial Aid, raising...

The FTC continues to monitor the marketplace to protect consumers from allegedly unsubstantiated COVID-19 claims. What are we seeing? Whether they’re selling tablets, treatments, or trinkets, companies are still making questionable representations about their products or services. The following 20 businesses are the latest to receive warning letters from the FTC about unsupported prevention or treatment claims, bringing the total to more than 330...

Interested in what’s going on with the Franchise Rule? Reviewing the Franchise Rule: An FTC Virtual Workshop begins at 1:00 Eastern Time today – Tuesday, November 10, 2020. Minutes before the start of the workshop, follow the link on the event page to watch the webcast. In addition, FTC staff will live tweet from the FTC’s Twitter page using the hashtag #FranchiseRuleFTC.

This time last year, “zoom” was just a word related to speed. But the pandemic has made video conferencing platform Zoom a daily fixture for business people conferring about trade secrets, doctors and mental health professionals discussing sensitive patient information, kids keeping up with school work, and the rest of us sharing everything from the details of day-to-day life to confidential family matters. According to a just-announced FTC...

For years, the FTC has warned about imposters – scammers who masquerade as government officials, financial institutions, family members, etc., in an attempt to flimflam consumers and businesses. The FTC just filed a lawsuit alleging a variation on the imposter scheme. According to the complaint, the defendants set up dozens of look-alike websites to fool people into thinking they were ordering name-brand merchandise from established national...

Next Monday and Tuesday, November 9 and 10, we will be hosting a virtual Question and Answer session to discuss the Commission’s Hart-Scott-Rodino Rulemaking initiative. On Monday from 1 to 2 pm, we will be discussing the proposed changes in the Notice of Proposed Rulemaking (NPRM) that would, if adopted, require filers to disclose additional information about their associates and to aggregate acquisitions in the same issuer across those entities...

Buying a franchise is a major financial commitment for consumers. The Franchise Rule was put in place to ensure consumers have key information to weigh the risks and benefits of their potential investment. As part of its ongoing regulatory review process, the FTC is hosting an online workshop, Reviewing the Franchise Rule, on Tuesday, November 10, 2020. Check out the just-released agenda. FTC Bureau of Consumer Protection Director Andrew Smith...