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.
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 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.
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.
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.
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.
US Federal Trade Commission warns of new crypto scam
The Paypers
JANUARY 11, 2022
The US Federal Trade Commission (FTC) has issued an alert about a new type of crypto scam, involving fraudsters asking people to pay with cryptocurrency.
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.
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Beware of Using Dark Patterns in Your Subscription Business
BlueSnap
AUGUST 9, 2024
In July 2024, the US Federal Trade Commission (FTC) announced the results of a review that found that 75.7% of companies that market and sell subscription services use at least one “dark pattern,” with 66.8% using multiple. The post Beware of Using Dark Patterns in Your Subscription Business appeared first on BlueSnap.
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 Warns Taxpayers About Stimulus Fraud
PYMNTS
AUGUST 11, 2020
Congress has yet to agree on the next round of stimulus funding, but the Federal Trade Commission ( FTC ) is already warning the public to beware. No one will call to ask for your bank account, credit card or Social Security number, the FTC said.
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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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Coronavirus Scams Trigger Surge In FTC Complaints
PYMNTS
MARCH 31, 2020
The Federal Trade Commission (FTC) reported in a press release that it has received over 7,800 complaints from consumers all relating to the coronavirus pandemic, twice the number it received just a week ago. The FTC will regularly make the number of coronavirus-related complaints public on its Explore Data page.
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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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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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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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FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships
PYMNTS
MAY 19, 2020
More than 147,000 consumers who were scammed by I Works are getting full refunds totaling $12 million, the Federal Trade Commission (FTC) announced Monday (May 18). The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010.
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FTC Reports Record Surge In eCommerce Complaints Amid Pandemic
PYMNTS
JULY 1, 2020
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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Facebook Could Face FTC Antitrust Suit By Year's End
PYMNTS
SEPTEMBER 16, 2020
The Federal Trade Commission (FTC) is looking into potentially launching an antitrust lawsuit against Facebook over allegations that the social media giant has stifled competition, The Wall Street Journal (WSJ) reported. The FTC can't make that decision unilaterally, though.
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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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FTC Lawsuit Prompts RentPath To End Acquisition By CoStar
PYMNTS
DECEMBER 29, 2020
RentPath won't be acquired by CoStar Group , choosing to terminate the agreement, a press release stated, after the Federal Trade Commission (FTC) decided to sue to block the deal. RentPath has unique assets and extensive relationships, which recent activity has shown will realize full value in the market.".
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FTC Sends $2M In Payments To Fake Immigration Center Victims
PYMNTS
MARCH 2, 2020
In response to fraud from the American Immigration Center, the Federal Trade Commission (FTC) is sending out refunds for those defrauded, according to a press release. The FTC will issue 4,976 refund checks and 44,136 PayPal payments to victims, totaling over $2 million to help make them whole. There was also a $2.2
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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.
FTC Issues Opinion On Cambridge Analytica Scandal
PYMNTS
DECEMBER 6, 2019
The Federal Trade Commission (FTC) found on Friday (Dec. The FTC also found that the firm lied about how it was participating in the Privacy Shield framework between the EU and the U.S., The FTC also found that the firm lied about how it was participating in the Privacy Shield framework between the EU and the U.S.,
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FTC Probes Intuit Over Alleged Deceptive TurboTax Marketing
PYMNTS
SEPTEMBER 8, 2020
The Federal Trade Commission (FTC) is looking into Intuit over its TurboTax product, as the company allegedly was tricking customers into paying for what they could've gotten for free, according to a ProPublica report. In May, FTC investigators passed down another civil demand.
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Google’s Waze Acquisition Likely Target Of FTC Scrutiny
PYMNTS
FEBRUARY 16, 2020
Federal Trade Commission (FTC) is investigating acquisitions made by big tech firms in the past 10 years and has a special focus on Google ’s $1.1 In June 2013, the FTC approved Google’s acquisition of the Israeli company behind the crowdsourced navigation app Waze.
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FTC Big Tech Probe Expands With New Inquiries
PYMNTS
FEBRUARY 11, 2020
A Federal Trade Commission (FTC) investigation into the biggest five tech companies in the U.S. Digital technology companies are a big part of the economy and our daily lives,” said FTC Chairman Joseph Simons. has expanded with a new inquiry about acquisitions, according to a report by The Wall Street Journal.
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FTC Sues Beam Financial For Failing To Deliver Mobile Banking Users’ Funds
PYMNTS
NOVEMBER 18, 2020
The Federal Trade Commission (FTC) has alleged that the mobile banking app Beam Financial has misled customers about quick transfers of funds, a press release says, with some customers receiving funds late or not at all. Some, the release says, never received their money at all.
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Consumers Duped By ‘Risk-Free Trials’ To Get $8.7M In Refunds From FTC
PYMNTS
JUNE 22, 2020
The Federal Trade Commission ( FTC ) is sending out over $8.7 Triangle, along with other defendants in the FTC’s case, was marketing items online, such as skin creams, electronic cigarettes, and dietary supplements, according to the release. That money will be used for the refunds, the press release states.
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FTC Chair: Companies Buying Startups Could Be Seen As Anti-Competitive
PYMNTS
NOVEMBER 12, 2020
Federal Trade Commission (FTC), said antitrust enforcers should be on guard against dominant companies buying emerging startups, Bloomberg reported. Joe Simons , chair of the U.S. That, according to the report, shone a light on one of the central issues in the agency's investigation of Facebook.
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FLEETCOR: FTC Allegations ‘Without Merit’
PYMNTS
JANUARY 20, 2020
The Federal Trade Commission (FTC) has filed a suit against Georgia fuel card firm FLEETCOR , alleging that it bilked customers out of millions of dollars in hidden fees, a charge the company denies, according to reports on Monday (Jan. It has pledged to “vigorously defend ourselves against the FTC in court.”.
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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. Cook called on the FTC to create a “data-broker clearinghouse” to control the flow of data. The executive said that he, along with others, will request that U.S.
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Progressive Leasing To Pay $175M FTC Fine Over Rent-To-Own Pricing
PYMNTS
APRIL 20, 2020
Progressive Leasing will pay $175 million to settle charges with the Federal Trade Commission (FTC) that its policies were misleading to customers, according to an April 20 release by the FTC. The FTC ended up filing the complaint and the stipulated final order in the U.S.
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FTC Calls For Tighter Small Biz Lending Scrutiny
PYMNTS
MAY 8, 2019
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 Fines Office Depot; Refunds Consumers For Virus Scam
PYMNTS
FEBRUARY 20, 2020
The Federal Trade Commission (FTC) has sent $34 million to victims of a scheme by Office Depot and a separate software provider that encouraged them to buy unnecessary computer repair products, according to a report. The FTC is distributing 541,247 checks at $63.35
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Allied Wallet Settles With FTC Over Fraudulent Payment Allegations
PYMNTS
MAY 21, 2019
Payment company Allied Wallet and its owner, Ahmad Khawaja, as well as two officers, Mohammad Diab and Amy Rountree, have settled with the Federal Trade Commission (FTC) over allegations of knowingly processing fraudulent transactions related to scams, the FTC reported on Tuesday (May 21). Rountree’s $320,429.82
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FTC Provides Testimony On Anti-Fraud Efforts Amid Pandemic
PYMNTS
JULY 21, 2020
The Federal Trade Commission (FTC) testified before the Senate Commerce Subcommittee on Manufacturing, Trade and Consumer Protection on Tuesday (July 21), detailing its efforts to combat coronavirus-related fraud, including sending warning letters and trying to educate customers on how to spot a scam, according to a press release.
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FTC Mulls Antitrust Injunction Against Facebook
PYMNTS
DECEMBER 12, 2019
Officials at the Federal Trade Commission (FTC) are considering the possibility of a preliminary injunction against Facebook over antitrust issues related to how the social media giant’s apps interact with each other, according to a report by The Wall Street Journal. The FTC action could happen as soon as next month.
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FTC Could Hear Testimony From Facebook’s Zuckerberg, Sandberg
PYMNTS
JULY 17, 2020
Facebook Inc’s top executives could be required to testify before the Federal Trade Commission (FTC) as the regulator investigates whether the California-based social media conglomerate has violated U.S. An FTC spokeswoman declined to comment. antitrust laws, sources told The Wall Street Journal.
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FTC Bans Rogue Payment Processor In Settlement Over Alleged Scams
PYMNTS
JUNE 9, 2020
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. District Court for the Western District of Texas.
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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 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.
FTC: FLEETCOR Billed Clients Hidden Charges
PYMNTS
DECEMBER 20, 2019
After reportedly assuring they would aid them in spending less on gas, the Federal Trade Commission said that U.S. The agency asked a federal judge in Georgia through a court filing to stop FLEETCOR, along with its chief executive, from charging hidden fees and also to disgorge ill-gotten proceeds, Yahoo Finance reported.
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FTC To Probe What User Info Zoom Collects
PYMNTS
MAY 12, 2020
The Federal Trade Commission may be looking into privacy concerns surrounding online video call software Zoom , Chairman Joseph Simons revealed. But an FTC probe would not necessarily result in any charges or fines toward the company.
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