Category Archives: Federal Trade Commission

More on Debt Collection: CFPB To Go After Banks’ Collection Practices

Suddenly, there's a lot going on the in the world of debt collection regulation. On the heels of yesterday's announcement by the FTC of a huge debt-collection settlement (discussed in the post below), the CFPB is announcing today that it will use its UDAAP authority to regulate the collection practices of banks. “It doesn’t matter […]

Times Article on Paid Celebrity Endorsements on Twitter and the FTC

Here.  When consumers see celibrities endorse products on TV, they are likely to believe that the celebrities are being paid.  Do consumers have the same reaction to tweets endorsing things?  Should celebrities disclose that when they are paid for tweets? 

Reports on FTC-CFPB Debt Collection Roundtable

On Thursday, the FTC and CFPB held a joint roundtable titled Life of a Debt: Data Integrity in Debt Collection.  Journalist Fred Williams has a report at the Taking Charge blog. An except: At Thursday's  meeting, [debt buyer and industry association president Richard] Munroe and other debt buyers didn't repeat the argument the collection  industry […]

FTC Pursues Phone Text Spammers

The Times report is here.  An excerpt: The messages, which typically promise gift cards to national chain stores or other prizes, are sent to random phone numbers and usually direct recipients to a Web site where they are asked for personal information like Social Security numbers or credit card numbers, agency officials said.        Rarely, if […]

Reuters: States probing top U.S. banks over debt collection

by Jeff Sovern Here.  An excerpt: As with the mortgage cases, the investigation focuses on the banks' poor paperwork and their weak tracking of the debts. When they sold delinquent credit card debt to the buyers, often at only a few cents on the dollar, they allegedly failed to provide them with the evidence that […]

Jon Leibowitz Leaves the FTC

Jon Leibowitz announced his departure from the FTC today, the Blog of the Legal Times reports: After a four-year tenure marked by an increased focus on privacy and aggressive consumer protection, Federal Trade Commission Chairman Jon Leibowitz announced today that he is stepping down on February 15. "I don't have any regrets," Leibowitz said in […]

Looking Back on David Vladeck’s Soon-to-be-Completed Tenure at the FTC

Next month, David Vladeck will a leave the helm of the FTC's Bureau of Consumer Protection–by all accounts reinvograted under his dynamic leadership–to go back to Georgetown Law. Jeff Gelles, the Philadelphia Inquirer's consumer columnist, attempts to sum up David's tenure in a piece entitled "Consumer chief leaves FTC a feistier place." A snippet: Speaking […]

President to Nominate Joshua Wright to FTC

You can read a New York Law Journal report here.  Wright is a professor at George Mason.  The article highlights his devotion to Chicago-school economics and reports that he rejects the use of behavioral economics in antitrust. The article also opines that if Governor Romney wins the presidency, Wright would be a potential FTC Chairman. […]