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FTC Charges Payday Lender With ?Deceptively? Overcharging Clients

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After a payday lender allegedly left consumers to pay more than promised by drawing continued interest-only deductions, the Federal Trade Commission (FTC) has charged a lending operation with overcharging customers and taking money from their bank accounts without authorization. Lead Express, Inc.; Sea Mirror, Inc; Naito Corp.;

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FTC Submits Progress Report To The Senate

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The Federal Trade Commission wants changes to the FTC Act that would allow it to provide better protection to consumers and increase competition. The FTC provided written testimony by FTC Chairwoman Edith Ramirez and Commissioners Maureen K. The testimony estimated that the agency has saved consumers over $3.4

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FTC Calls For Tighter Small Biz Lending Scrutiny

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Federal Trade Commission (FTC) is eyeing tighter scrutiny of small business lending practices as Commissioner Rohit Chopra calls on the regulator to combat predatory SMB loan contracts, reports in Bloomberg said on Wednesday (May 8). Chopra spoke at an agency forum in Washington, D.C.,

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FTC Reports Record Surge In eCommerce Complaints Amid Pandemic

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While online purchasing has skyrocketed since March as the country shut down as a defense against COVID-19, so have complaints to the federal watchdog agency responsible for regulating eCommerce. The most common missing items included face masks, sanitizer, toilet paper, thermometers and gloves, the FTC said.

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FTC Launches Merchant Cash Advance Probe

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The Federal Trade Commission has launched an investigation into the merchant cash advance industry just days after FTC Commissioner Rohit Chopra called on the watchdog to tackle unfair small business lending practices. The FTC’s Chopra spoke at a forum in Washington, D.C. ”

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FTC Bans Rogue Payment Processor In Settlement Over Alleged Scams

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A Texas operator of several payment processing centers has agreed to be permanently banned from the industry in order to settle charges by the Federal Trade Commission (FTC) and the state of Ohio that they unlawfully participated in scams, according to a press release. The FTC and Ohio officials filed their complaint against the trio in U.S.

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FTC Looking For Comments On Customer Privacy, Security Amendments

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The Federal Trade Commission (FTC) has requested comment on the proposed amendments of two rules that protect the privacy and security of customer data held by financial institutions (FIs). The proposed changes are related to the Safeguards Rule and the Privacy Rule under the Gramm-Leach-Bliley Act.

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