To quote the Church Lady: "Well isn't that special". The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have signed an agreement to coordinate efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts. “The FTC has always been committed to protecting consumers and legitimate companies from bad actors in the financial marketplace,”… Read More
The Federal Trade Commission will host its third roundtable on November 17, 2011, in Washington, D.C., to gather information on consumers’ experiences in the leasing of motor vehicles at dealerships. The roundtable also will address what has been learned about auto sales, financing and leasing at all of the roundtables; what consumer and business education initiatives would be useful; and… Read More
As part of the Federal Trade Commission’s systematic review of all FTC rules and guides, the agency is seeking public comment on its Rules and guidance regarding product warranties under the Magnuson-Moss Warranty Act. The agency is seeking comment on the FTC’s Interpretations of the Magnuson-Moss Warranty Act, the FTC’s Guides for the Advertising of Warranties and Guarantees, and three… Read More
The FTC issued a staff report, that compiles and updates the agency’s guidance on the Fair Credit Reporting Act (FCRA), the 1970 law designed to protect the privacy of credit report information and ensure that the information supplied by credit reporting agencies is as accurate as possible. A credit report contains information about a consumer’s personal and credit characteristics, character,… Read More
The FRB and the FTC issued final rules implementing Dodd-Frank's credit score disclosure requirements, amending their January 10, 2010 interim risk-based pricing rules to require disclosure of credit scores and information relating to credit scores in risk-based pricing notices if a credit score of the consumer is used in setting the material terms of credit. If a credit score is used in… Read More
The Federal Trade Commission will host its second roundtable to gather information on consumers’ experiences in the sale and financing of motor vehicles at dealerships. The roundtable will be held in San Antonio, Texas, on August 2-3, 2011, and will cover topics regarding military consumers’ experiences in buying and financing motor vehicles, the role of financial literacy in consumers’ understanding… Read More
As part of its ongoing efforts to ensure that auto dealers’ financing practices comply with federal consumer protection laws, the Federal Trade Commission has completed investigations of nearly 50 automobile dealers across the country to assess their compliance with the FTC’s Rule Concerning Preservation of Consumers’ Claims and Defenses, more commonly known as the “Holder in Due Course” Rule. The… Read More
In a comment submitted to the Federal Communications Commission, the FTC urged its sister agency to hold that sellers of goods and services should be held responsible for sales calls made by others on their behalf, even if the seller did not physically place the calls. The FTC stressed that the FCC should not allow such sellers to escape liability… Read More
We posted notice of the FTC's Conference on Motor Vehicle Sales and Financing. The FTC posted transcripts from the Conference at Sess 1, Sess. 2, Sess. 3, and Sess. 4. Read More
On Tuesday, the Federal Trade Commission will host the first in a series of roundtables around the country to gather information on consumers’ experiences when buying, financing, or leasing motor vehicles. The first roundtable will focus on consumer protection issues related to sales and financing of consumer vehicles – cars, SUVs, and light trucks. The event will be held on… Read More
Today, the FTC submitted its Annual Report to Congress, here. Data in the report show that in 2010, as in other recent years, the FTC received more complaints about debt collection than any other single industry. Specifically, the agency received 140,036 debt collection complaints in 2010, up from 119,609 complaints in 2009. The top three categories of complaints about third-party collectors… Read More
Starting next month, the Federal Trade Commission will host a series of roundtables around the country to gather information on consumers’ experiences when buying or leasing motor vehicles. The roundtables will explore consumer protection issues related to the sale, financing, and leasing of the consumer vehicles consumers most often use – cars, SUVs, and light trucks. The first roundtable will… Read More
Following on the heals of a publicized judicial ruling prohibiting a debt collector from using Facebook or other social media to locate a debtor (http://www.miamiherald.com/2011/03/09/2106171/judge-debt-agency-cant-contact.html#ixzz1G8yc50zM), the FTC announced that it would "hold a public workshop on April 28, 2011, to address consumer protection issues that have arisen as debt collectors avail themselves of advances in technology. The workshop will explore… Read More
The Federal Trade Commission and the Federal Reserve Board are seeking public comment on proposed amendments to the Risk-Based Pricing Rule that would require creditors, as of July 21, 2011, to disclose credit score information to consumers when a credit score is used in setting or adjusting credit terms. The Notice is set forth here and is summarized as follows: On… Read More
The Summary, found here, states in part that "Through its consumer protection goal, the FTC focuses its efforts on fighting consumer fraud, deception, and unfair practices, and protecting consumer data and privacy. Agency law enforcement actions will continue to target deceptive and other illegal practices involving mortgage lending, debt collection, and other financial services. These practices can have severe consequences… Read More
The Federal Trade Commission issued its annual report to the Federal Reserve Board on FTC enforcement activities regarding the Equal Credit Opportunity Act, Electronic Fund Transfer Act (EFTA), Consumer Leasing Act, and Truth in Lending Act. This year’s report also discusses FTC activities under the Dodd-Frank Wall Street Reform and Consumer Protection Act, such as enforcement of new EFTA requirements… Read More
The Federal Trade Commission has issued a fourth interim report to Congress describing progress the agency has made on a national study examining the accuracy of credit reports. Congress directed the FTC to conduct a study of credit report accuracy and provide interim reports every two years, starting in 2004 and continuing through 2012, with a final report in 2014. According… Read More
Not kidding. The FTC's Press Release states that the "New Business Center Can Help Boost Compliance with [the] FTC Law". http://www.ftc.gov/opa/2010/11/businesscenter.shtm Read More
