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Sep15

Open Commission Meeting – September 15, 2021

Agenda items: Proposed Policy Statement on Privacy Breaches by Health Apps and Connected Devices, Non-HSR Reported Acquisitions by Select Technology Platforms, 2010-2019: An FTC Study, Proposed...

FTC Approves Changes to Five FCRA Rules

Date
The Federal Trade Commission approved final revisions that would bring several rules that implement parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Wall Street Reform and...

Online Trading Academy

Online Trading Academy is required to offer debt forgiveness to thousands of consumers who purchased its “training programs,” while the company’s founder and other individuals will together pay between $5 and $9.1 million and turn over assets under the terms of a settlement with the FTC.

The FTC brought a lawsuit alleging that OTA, led by Eyal Shachar, had deceived consumers for years with claims that purchasers of OTA’s investment training were likely to generate significant income. OTA claimed that anyone could learn to use its strategy, and filled its sales pitch with testimonials and hypothetical trades showing significant profits. In August 2021, the Commission announced it is returning more than $5.4 million to defrauded consumers.

Type of Action
Federal
Last Updated
FTC Matter/File Number
182 3175
X200032
Case Status
Pending