The Federal Trade Commission has charged the operators of dozens of companies with deceiving consumers by using fake newspaper subscription notices. According to the FTC’s complaint, through a complicated web of companies, the defendants send consumers “Notice of Renewal/New Order” mailers for subscriptions to newspapers such as The New York Times, The Wall Street Journal, […]
Author Archives: Allison Zieve
Marketers of green coffee bean extract weight-loss supplements, male enhancement products, and skin care products will forfeit assets totaling approximately $9.2 million, and have already turned over a Ferrari to settle the Federal Trade Commission’s court action brought against them in October 2014. The proposed stipulated final order bans individual defendants Danelle Miller and Jason […]
The Consumer Financial Protection Bureau announced yesterday the "Payback Playbook"—a set of prototype disclosures that outline a path to affordable payments for borrowers trying to avoid student debt distress. The CFPB explained that Payback Playbook provides borrowers with personalized information about their repayment options from loan servicers so they can secure a monthly payment they […]
A new study by the Centers for Disease Control and Prevention found a link between exposure to e-cigarette advertisements and the use of e-cigarettes by middle and high school students. The study is the first to assess the link between exposure to e-cigarette advertising and current e-cigarette use, and it concludes that efforts to reduce […]
Yesterday, the Consumer Financial Protection Bureau ordered the debt collection law firm Pressler & Pressler, LLP, two principal partners, and New Century Financial Services, Inc., a debt buyer, to stop churning out unfair and deceptive debt collection lawsuits based on flimsy or nonexistent evidence. The consent orders bar the companies and individuals from illegal practices […]
The Consumer Financial Protection Bureau today issued a report that found that attempts by online lenders to debit payments from a consumer’s checking account add a steep, hidden cost to online payday loans. Half of online borrowers rack up an average of $185 in bank penalties because at least one debit attempt overdrafts or fails. […]
The Federal Trade Commission announced yesterday: Four companies that market skin care products, shampoos, and sunscreens online have agreed to settle Federal Trade Commission charges that they falsely claimed that their products are “all natural” or “100% natural,” despite the fact that they contain synthetic ingredients. The Commission has issued a complaint against a fifth […]
The Washington Post reports: The head of a payday lending enterprise accused of charging more than 700 percent interest on short-term loans was indicted Thursday on federal racketeering charges. Charles M. Hallinan, 75, led a group that preyed on customers while taking in nearly $700 million from 2008 to 2013, according to the indictment. Hallinan […]
The Hill reports: The head of the Consumer Financial Protection Bureau defended its record Thursday to critical Republican senators, who charged it with preferring punitive action over transparent rules and stifling the country’s credit market through unaccountable actions. CFPB Director Richard Cordray told the Senate Banking Committee that the agency's actions to crack down on […]
In addition to the Federal Trade Commission action described in the blog post below, the FTC also announced yesterday that it is mailing 474 checks totaling more than $33,000 to consumers who lost money to a scheme that charged homeowners an up-front fee for mortgage relief services they promised but never provided. In September 2015, […]