FTC revs up money transfer case against Walmart
Payments Dive
JULY 6, 2023
The Federal Trade Commission revved up its case against Walmart last week, alleging the retailer facilitated fraudulent transactions, despite a court ruling setback in March.
Federal Trade Commission Related Topics 
US fraud losses top $10bn in 2023
Finextra
FEBRUARY 12, 2024
Americans lost more than $10 billion to fraud in 2023, with investment scams accounting for nearly half of the losses, Federal Trade Commission data shows.
FTC investigates 'surveillance pricing' based on customer data
Finextra
JULY 23, 2024
The Federal Trade Commission is investigating how companies including Mastercard and JPMorgan Chase use AI and personal data for services that let firms set different prices for different people.
Federal Trade Commission introduces final click-to-cancel rule
The Paypers
OCTOBER 24, 2024
The Federal Trade Commission (FTC) has announced a final click-to-cancel rule that is set to require sellers to simplify how consumers cancel their recurring subscriptions and memberships.
FTC Report: Largest Mega-Stores, Grocery Conglomerates Profit Off Pandemic Price Hikes
Electronic Payments Coalition
APRIL 9, 2024
The Federal Trade Commission (FTC) recently released a report questioning whether COVID-19 price increases at grocery conglomerates, including corporate mega-stores, were necessary and if the continued higher prices were all about increasing profits.
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FTC demands pricing input from Mastercard, others
Payments Dive
JULY 23, 2024
The Federal Trade Commission demanded information from eight companies, including the card network, to better understand how consumer data is being used in the pricing of products and services.
SnapPay pushes 'facial payments' for its North American expansion
Payments Source
OCTOBER 15, 2019
The facial recognition development trail is dotted with starts and stops in its search for consumer adoption, from Mastercard's "selfie pay" to Apple's 3-D facial scan tests and the Federal Trade Commission's approval of biometric authorization.
The FTC comes after neobank Dave for misleading marketing, hidden fees
TechCrunch Fintech
NOVEMBER 6, 2024
The Federal Trade Commission (FTC) announced on Tuesday it will be taking action against the online cash app and neobank Dave, which it says used “misleading marketing to deceive consumers.”
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PayPal settles Venmo disclosure complaints with the FTC
Payments Source
FEBRUARY 27, 2018
The Federal Trade Commission contends Venmo misled consumers on funds availability and security disclosures.
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Payments processor BlueSnap reaches $10m settlement with FTC
Finextra
MAY 2, 2024
BlueSnap and its former CEO have settled with the Federal trade Commission (FTC) for knowingly processing payments for "deceptive and fraudulent" companies.
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FTC to hold January hearing on ‘click to cancel’ rule
Payments Dive
DECEMBER 5, 2023
The Federal Trade Commission is scheduled to hear from six industry organizations concerned about a proposed rule that would crack down on automatically renewing subscriptions.
Walmart lashes back at FTC over money-transfer lawsuit
Payments Dive
JULY 6, 2022
In a fiery rebuttal to the Federal Trade Commission lawsuit last week, the nation’s biggest retailer is already doing battle in the court of public opinion.
FTC sues FleetCor and its CEO, alleging deceptive fee practices
Payments Source
DECEMBER 23, 2019
The Federal Trade Commission has filed a lawsuit against FleetCor Technologies and its CEO Ronald Clarke, alleging they used deceptive practices that defrauded its business customers of hundreds of millions of dollars in fees and false claims about fuel savings.
FTC sues fintech Dave over marketing, fees
Payments Dive
NOVEMBER 7, 2024
The Federal Trade Commission filed a complaint Tuesday alleging the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.
Waze Introduces Contactless Payments At ExxonMobil, Shell Stations
PYMNTS
AUGUST 13, 2020
In June, Reuters reported the Federal Trade Commission (FTC) is conducting a preliminary inquiry of Google’s $1.1 Founded in 2007, Waze said it had 130 million monthly users as of February 2020. Google, the world’s dominant online search engine, has faced growing regulatory scrutiny in recent years.
FTC inquiry casts fresh attention on U.S. debit routing issues
Payments Source
JANUARY 14, 2020
The specific impetus for the Federal Trade Commission's inquiry into Visa and Mastercard's debit transaction routing processes is not entirely clear, but it likely stems from the effect that advanced payments technology has had on Durbin amendment compliance.
Equifax nears $700 million settlement of probes into data breach
Payments Source
JULY 19, 2019
The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday.
FTC sues NetSpend over prepaid ad claims
Payments Source
NOVEMBER 10, 2016
The Federal Trade Commission filed a lawsuit against NetSpend on Thursday, alleging that the prepaid card issuer deceived consumers in its advertising.
Prosecutors Target Loosely-Regulated Business Lending Sector
PYMNTS
AUGUST 11, 2020
Representatives of the companies either denied wrongdoing or declined to comment.
DOJ Antitrust Lawsuit Against Facebook No Slam Dunk
PYMNTS
OCTOBER 4, 2020
While the transactions were approved by regulators, some Capitol Hill lawmakers have raised antitrust concerns and urged the Federal Trade Commission (FTC) to break up the company and its subsidiaries.
TikTok?s Data Privacy Policies Draw Eyes Of EU Authorities
PYMNTS
JUNE 10, 2020
senators urged the Federal Trade Commission (FTC) to investigate allegations that TikTok violated a consent decree protecting children’s privacy, Dig.Watch reported. Authorities said there are concerns about potential misuse. Wednesday’s announcement by the investigative panel comes weeks after four U.S.
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FinCEN Issues Warning About COVID-19 Vaccine Scams, Cyberattacks
PYMNTS
DECEMBER 28, 2020
More than 200,000 Americans were scammed out of $145 million relating to the pandemic since the beginning of 2020, the Federal Trade Commission (FTC) said. .
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FTC Officials Look Into Amazon’s Use Of Market Power
PYMNTS
SEPTEMBER 11, 2019
To find out if Amazon is utilizing its market power to hurt competition, a Federal Trade Commission (FTC) team of investigators has started to interview small businesses that sell items on Amazon. 11), citing unnamed merchants.
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Google Faces Lawsuit From Multiple States Over Digital Ad Tactics
PYMNTS
DECEMBER 16, 2020
Facebook is also set to face legal action from the Federal Trade Commission (FTC) and numerous states, with FTC commissioner Rohit Chopra saying U.S. He led a 48-state investigation into the company's practices in 2019. Earlier this month, he said more states could still add their names to the lawsuit against Google.
First Data will pay $40 million in FTC deal over consumer scams
Payments Source
MAY 20, 2020
First Data Merchant Services LLC and a former executive agreed to pay more than $40 million to settle a claim by the Federal Trade Commission that the company processed payments and laundered credit card transactions for scams targeting hundreds of thousands of consumers.
40+ States Could Join Antitrust Lawsuit Against Facebook
PYMNTS
NOVEMBER 19, 2020
Facebook could soon be staring down a lawsuit as the Federal Trade Commission and numerous states attorneys general finish up one or more antitrust cases against the social media giant, Reuters reports.
FTC Releases State Data Of COVID-19 Related Consumer Complaints
PYMNTS
JUNE 12, 2020
Fraud was the top complaint related to coronavirus logged by the Federal Trade Commission (FTC), according to new reports released on the organization’s website. There were 47,881 fraud complaints to the FTC across the country , the majority in every state. There were 14,079 complaints about identity theft, and 3,738
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JPMorgan Ups Payment Fraud Protection For SMBs
PYMNTS
SEPTEMBER 28, 2020
Since August, PYMNTS reported , the Federal Trade Commission (FTC) has tracked 184,000 cases related to the pandemic. Fraud has particularly been an issue during the pandemic, with increased cases sprouting up since March as fraudsters feed off the confusion and disarray of the world's scramble to adapt to the new reality.
Refund checks sent to more than 430,000 NetSpend prepaid card users
Payments Source
SEPTEMBER 17, 2018
The payments, which total more than $10 million, stem from a 2017 settlement with the Federal Trade Commission. The agency charged that NetSpend deceived consumers by advertising that they could get immediate access to their funds.
People expecting $125 from Equifax will be disappointed, FTC says
Payments Source
AUGUST 1, 2019
The Federal Trade Commission just updated its website with disappointing news: No, you aren’t getting $125 because of the Equifax Inc. data breach.
FTC accuses Dave of misleading marketing and hidden fees
Finextra
NOVEMBER 7, 2024
The Federal Trade Commission has filed a complaint against fintech Dave for using "misleading marketing" and charging "surprise" fees for its cash advance service.
Rent-A-Center Acquires Acima For Virtual Lease-To-Own Platform
PYMNTS
DECEMBER 21, 2020
The Federal Trade Commission (FTC) alleged the companies cut deals that left customers with limited choices. . Upon the closing of the transaction, the current Acima management team will report to Preferred Dynamix Executive Vice President Jason Hogg , and the combined business will be reported in the Preferred Lease segment.
Zuckerberg ‘Cooperating’ With FTC In Facebook Antitrust Hearing
PYMNTS
AUGUST 20, 2020
Facebook CEO Mark Zuckerberg testified before the Federal Trade Commission (FTC) as part of the agency’s antitrust investigation into the popular social media giant, CNBC reported.
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Study: COVID-19 Fraud Reaches $100M
PYMNTS
AUGUST 5, 2020
These states accounted for one third of more than 150,000 instances of COVID-related fraud reported nationally by the Federal Trade Commission (FTC) since mid-March. The five most targeted states by the scams include the ones with the biggest populations: California, Florida, New York, Texas and Pennsylvania.
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112 Apple CEO Wants FTC To Let Consumers Control Their Data
PYMNTS
JANUARY 17, 2019
Federal Trade Commission (FTC) to put in place a new framework to increase the transparency of companies that handle user data. Tim Cook, Apple’s chief executive who has emerged as a powerful privacy advocate, has called on the U.S.
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74 Senators ask FTC to probe Amazon actions in Capital One breach
Payments Source
OCTOBER 24, 2019
The Federal Trade Commission should look into whether Amazon’s failure to secure its services “constitutes an unfair business practice,” which would violate federal law, Sens. Elizabeth Warren and Ron Wyden wrote the agency's chairman.
Using AI And Biometrics To Digitize Estate Planning
PYMNTS
MAY 14, 2020
The COVID-19 pandemic has triggered an uptick in digital fraud and identity theft, with 18,235 pandemic-related fraud reports received by the Federal Trade Commission (FTC) since the beginning of the year.
Is CFPB punting on Equifax? It's complicated
Payments Source
FEBRUARY 6, 2018
It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau.
FTC Charges Payday Lender With ?Deceptively? Overcharging Clients
PYMNTS
MAY 22, 2020
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.
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FTC Reports $145M In COVID-Related Scams Since January
PYMNTS
SEPTEMBER 22, 2020
More than 200,000 Americans have lost $145 million linked to the COVID-19 pandemic since the start of the year, the Federal Trade Commission (FTC) reported on Tuesday (Sept. The median loss was $300, but it was more than twice that amount, $665, for victims 80 years of age or older.
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FTC Warns Of COVID Scams, Cracks Down On Fake Job Schemes
PYMNTS
DECEMBER 14, 2020
The Federal Trade Commission (FTC) has announced a new operation, Operation Income Illusion, to crack down on fraudsters targeting victims with fake promises of jobs or income, according to a press release. The FTC is working with 19 other federal, state and local law enforcement partners in the effort.
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FTC, 48 States Launch Massive Antitrust Suit On Facebook
PYMNTS
DECEMBER 9, 2020
The Federal Trade Commission (FTC) and 48 states launched a massive antitrust lawsuit on Facebook Wednesday (Dec. The FTC is seeking an injunction in federal court that could require divestitures of assets, including Instagram and WhatsApp.
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Big Tech Faces Regulation Reckoning As 2021 Dawns
PYMNTS
JANUARY 1, 2021
The Federal Trade Commission (FTC) and 46 states launched a separate antitrust lawsuit on Facebook, accusing Facebook of “illegally maintaining its personal social networking monopoly through a years-long course of anticompetitive conduct,” according to the FTC.
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FTC: Active Duty Troops 76 Pct More Likely To Report Identity Theft
PYMNTS
MAY 21, 2020
Active-duty service members are 76 percent more likely to report identity theft than most people, according to data from the Federal Trade Commission (FTC). The FTC reported in its newest Consumer Protection Data Spotlight that service members typically report misuse of their credit and debit card data.
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