Tag: FTC
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FTC, FloatMe reach $3M settlement
Overview The Federal Trade Commission (FTC) and the payday loan app company, FloatMe, have reached a settlement of $3 million after allegations that the company engaged in deceptive practices. This settlement aims to provide restitution to consumers and deter similar conduct in the future. The Allegations The FTC accused FloatMe of misleading customers about its…
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FTC to hold January hearing on ‘click to cancel’ rule
FTC to Hold January Hearing on ‘Click to Cancel’ Rule The Federal Trade Commission (FTC) has announced that it will be conducting a hearing in January to address the highly debated “click to cancel” rule. With the increasing prevalence of subscription-based services across various industries, this rule is aimed at providing consumers with a simplified…
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FTC, Florida reach $150,000 settlement with Chargebacks911
The Federal Trade Commission (FTC) and the state of Florida have announced a settlement of $150,000 with Chargebacks911, a company accused of deceptive business practices. The settlement was reached after an investigation into allegations that Chargebacks911 provided false testimonials, failed to fulfill refund promises, and used deceptive marketing techniques. The FTC, an independent agency of…
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Non-bank financial institutions must report data security breaches: FTC
Non-bank Financial Institutions Must Report Data Security Breaches: FTC In a bid to strengthen data security and protect consumers’ sensitive information, the Federal Trade Commission (FTC) has announced that non-bank financial institutions will be required to report any data security breaches. This decision marks a significant step forward in safeguarding electronic transactions and bolstering trust…
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FTC lawsuit knocks Amazon on payments play
FTC Lawsuit Knocks Amazon on Payments Play The Federal Trade Commission (FTC) has filed a lawsuit against Amazon, accusing the retail giant of engaging in unfair practices that negatively impact online sellers. This move by the FTC comes as a heavy blow to Amazon’s payments play, potentially leading to significant financial consequences and a…