PYMNTS

APRIL 26, 2019

In reporting its quarterly earnings this week, Facebook said it could face a fine of between $3 billion and $5 billion from the Federal Trade Commission (FTC) over how it handles customers data. The one-time fine stems from the agency’s investigation into Facebook’s privacy practices.

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Federal Trade Commission FTC Privacy Addressing 40

PYMNTS

APRIL 24, 2019

The anticipated and one-time fine that Facebook will pay to the FTC stems from the agency’s investigation into Facebook’s privacy practices. The federal agency has accused the social media platform of violating a privacy consent decree from 2011. So far, the largest fine the agency has imposed on a tech company was the $22.5

Privacy 43

Privacy FTC Federal Trade Commission Payments 43

PYMNTS

APRIL 12, 2018

It would also give enforcement authority to the Federal Trade Commission (FTC). Consumer Watchdog pointed out that Facebook’s latest breach violates its 2011 consent decree with the FTC, adding that the social media giant should be fined.

Regulations 40

Regulations Consumer Federal Trade Commission Privacy 40

PYMNTS

FEBRUARY 13, 2020

The Electronic Privacy Information Center said in a 2018 letter that the sharing violated Europe’s data-privacy law and Facebook’s obligations under its 2011 Federal Trade Commission (FTC) consent decree. . Some privacy advocates were against the project.

Privacy 64

Privacy Federal Trade Commission Research FTC 64

PYMNTS

MARCH 14, 2019

The sharing agreements with technology companies are now being included in the FTC’s investigation over whether or not Facebook violated a 2011 consent agreement. The New York Times reported the FTC is mulling whether or not to use the sharing deals as part of negotiations to extract a huge fine from Facebook.

Agreements 49

Agreements Federal Trade Commission FTC Privacy 49

PYMNTS

OCTOBER 18, 2019

Facebook started the facial recognition technology in 2011, when it would ask users to identify if people tagged in photos were friends they knew. The last large settlement paid by Facebook was a $5 billion fine to the Federal Trade Commission (FTC) for violating a consent decree. Facebook’s revenue last year was $55 billion.

Federal Trade Commission 43

Federal Trade Commission FTC Privacy Settlement 43

PYMNTS

OCTOBER 22, 2018

In yet another addition to the “why we can’t have nice things” files, the Federal Trade Commission (FTC) released a report this week indicated that fraudsters love gifts cards to the extent that many are requesting them as a form of payment these days. Gift Cards’ New Unfavorable Fans.

Laws 53

Laws Privacy FTC Push-to-Card 53

PYMNTS

APRIL 12, 2017

In an agreement with the FTC, the online retail giant will end appeals to last year’s court findings that Amazon billed consumers for unauthorized in-app charges incurred by children. Well, as long as it happened between November 2011 and May 2016.).

FTC 40

FTC Agreements Authentication Data Breach 40

PYMNTS

MARCH 13, 2017

According to FTC data (from a report mandated by Congress), one in five consumers have at least one error on one of their three major credit reports. According to the CFPB, the three credit bureaus received around eight million requests disputing information since 2011.

CFPB 44

CFPB Settlement FTC Disputes 44

FICO

AUGUST 12, 2019

In part, this is due to a change made in 2011 by the U.S. You also can file a complaint with the FTC , and call the Identity Theft Resource Center at 888-400-5530. It differs from identity theft, in which the personal information of an existing adult consumer is stolen and used by the fraudster to acquire credit. .

Identity Theft 40

Identity Theft Federal Trade Commission Credit Cards Social Security 40

PYMNTS

APRIL 30, 2018

In 2011, Buffett made a $10 billion investment in the company in support of then-new CEO Ginni Rometty’s turnaround plans. LendingClub was hit with a lawsuit by the Federal Trade Commission (FTC) last week over claims of “deceptive” practices. The first quarter of 2018 saw that shrink to 15 percent growth and 47 percent revenue.

FinTech 73

FinTech Blockchain Distributed Ledger Technology (DLT) FTC 73

PYMNTS

OCTOBER 1, 2018

Earlier this year, LendingClub saw its stock price hit record lows when news broke that the firm was being sued by the FTC for reportedly charging consumers with hidden fees and, in some cases, double-withdrawing payments from consumer accounts. Those effects, however, were short-lived. In 2010, LendingClub added to its war chest with a $24.5

P2P 54

P2P Origination Underwriting Returns 54

PYMNTS

SEPTEMBER 18, 2017

has strongly hinted that the agency she birthed in 2008 and opened for business in 2011 — the Consumer Financial Protection Bureau (CFPB) — should be given the authority to do even more. After all, The Big Three were regulated by the CFPB and the FTC, and look where that got us. Senator Elizabeth Warren (D – Mass.)

Regulations 81

Regulations CFPB Database Consumer Financial Protection Bureau (CFPB) 81

PYMNTS

MAY 6, 2019

Listening intently, the executive team, now very much consumed by negotiations with the FTC and every other regulator in the world about how to be better stewards of consumer data, tells the team they have their blessing. But not their money. Go find your billion dollars elsewhere, they say. billion of which came from the U.S.

Online and Mobile Banking 83

Online and Mobile Banking PayPal Innovation Blockchain 83

PYMNTS

MAY 5, 2019

With Facebook and the Federal Trade Commission in the final stages of settlement talks, disagreements between the five-member FTC panel are complicating the discussions. Facebook is in talks with the FTC to settle a lawsuit stemming from its scandal with Cambridge Analytica.

FTC 49

FTC Federal Trade Commission Settlement Privacy 49

PYMNTS

MARCH 20, 2018

Facebook , the social media giant embroiled in a new consumer data scandal, is being pursued by the Federal Trade Commission (FTC), the main agency for enforcing privacy policies. The FTC should use all of its power to prevent this from ever happening again.”.

FTC 46

FTC Federal Trade Commission Data Breach Privacy 46

PYMNTS

JANUARY 24, 2019

The FTC is about to complete an investigation into the data breach and whether Facebook violated a consent decree reached in 2011 and could levy Facebook with a sizeable fine, reported The Wall Street Journal. In 2011 the FTC said Facebook deceived customers by sharing data it said it was kept private.

FTC 46

FTC Federal Trade Commission Request for Comment Data Breach 46

PYMNTS

APRIL 6, 2018

Federal Trade Commission (FTC) over Facebook ’s use of facial recognition to tag photos. In 2011, EPIC lodged complaints against Facebook, and the social media platform ended up settling those charges related to privacy with the FTC. A coalition of consumer groups are planning to file a complaint with the U.S.

Federal Trade Commission 44

Federal Trade Commission Consumer FTC Privacy 44

PYMNTS

MARCH 27, 2019

As reported, the data sharing agreements are now part of the ongoing investigation by the Federal Trade Commission (FTC) into whether Facebook violated the terms of a 2011 consent agreement. attorney’s office for the Eastern District of that state.

Regulations 43

Regulations Federal Trade Commission Consulting FTC 43

PYMNTS

JUNE 18, 2019

That means that 69 percent of the world’s population now has a bank account or something similar, up from 62 percent in 2014 and 51 percent in 2011. Between 2014 and 2017, the report says that 515 million people gained access to an account at a bank, a mobile money account with a telco or other third party.

Payments 98

Payments Cross-Border Online and Mobile Banking Financial Inclusion 98

PYMNTS

JULY 22, 2019

The FTC voted 3-2 in favor of a settlement with Facebook, and a Republican majority supported it, while the Democratic commissioners objected to it. The company already has an internal privacy team, and in 2011, it allowed for its privacy practices to be assessed by PricewaterhouseCoopers.

FTC 46

FTC Federal Trade Commission Privacy Settlement 46

PYMNTS

APRIL 6, 2018

Facebook is defending its data sharing tool, saying it was in compliance with a 2011 privacy agreement with the Federal Trade Commission. According to Bloomberg , the FTC is investigating whether Facebook violated the 2011 law that requires the company to get consent from users before sharing information.

FTC 40

FTC Federal Trade Commission Privacy Compliance 40

PYMNTS

DECEMBER 27, 2016

The CFPB has had a busy year every year since it was created in 2011. Saying the CFPB had a busy year is true, if a bit misleading. Still, the breadth of topics the Dodd-Frank consumer protection watchdog took on in 2016 was fairly impressive — even by the CFPB’s aggressive internal standards.

Finance 46

Finance CFPB P2P Underwriting 46