On December 15, a district judge in California approved a settlement between MyLife.com, Inc. (MyLife), its CEO Jeffrey Tinsley, and the Department of Justice (DOJ) on behalf of the Federal Trade Commission (FTC). The...more
On October 28, the Federal Trade Commission (FTC) issued a new policy statement on autorenewal and negative option marketing....more
On September 13, the Federal Trade Commission (FTC) released a report to Congress that highlights the agency’s recent efforts to protect Americans’ privacy, announces the agency’s priorities for future data security and...more
On September 30, the Senate confirmed Rohit Chopra as the new director of the Consumer Financial Protection Bureau (CFPB). Chopra’s confirmation marks the beginning of his second stint with the CFPB — Chopra served as the...more
On September 20, nine Democratic senators wrote a letter to the Federal Trade Commission (FTC), requesting that it create new rules to protect consumers’ personal data and privacy....more
On September 13, President Biden announced his intent to nominate privacy advocate Alvaro Bedoya to serve as a commissioner of the Federal Trade Commission (FTC). If confirmed, Bedoya will take the seat currently held by...more
On July 29, the Better Business Bureau’s Children’s Advertising Review Unit (CARU) issued revised guidelines for ads directed to children....more
Not long ago, only the tech-focused were interested in cryptocurrencies and the distributed ledger technologies that make them possible. That has changed. The wins and losses of crypto investors are now center stage, as are...more
8/6/2021
/ Cryptocurrency ,
Department of Justice (DOJ) ,
Distributed Ledger Technology (DLT) ,
FDIC ,
Federal Trade Commission (FTC) ,
Initial Coin Offering (ICOs) ,
IRS ,
OCC ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
On July 20, the U.S. House of Representatives passed legislation that would restore the Federal Trade Commission’s (FTC) ability to obtain equitable monetary remedies under Section 13(b) of the FTC Act. The legislation — H.R....more
On July 1, the Federal Trade Commission (FTC) voted to approve seven omnibus resolutions authorizing staff attorneys to use compulsory process to investigate key enforcement targets. The vote fell along party lines, with...more
On June 23, Commissioner Christine Wilson, a Republican appointee, confirmed that she has agreed to use the Federal Trade Commission’s (FTC) rulemaking authority to craft comprehensive data privacy regulations. With...more
If you use the internet, you have probably encountered at least one of the scams con artists use to bilk victims. There’s “catfishing” and other online dating fraud, where scammers use fake identities to woo victims into...more
On June 15, the Senate voted (69-28) to confirm Lina Khan as the newest commissioner on the Federal Trade Commission (FTC). And just hours later, President Biden named her as the new chair of the agency. As we previously...more
On June 7, the Federal Trade Commission (FTC) announced a proposed settlement with MoviePass. And in an interesting twist, the FTC used the proposed settlement to announce a novel means of obtaining monetary relief....more
On May 20, a bipartisan group of senators reintroduced the Social Media Privacy Protection and Consumer Rights Act (Act), which would force big tech companies like Facebook and Google to give consumers greater control over...more
So far, 2021 is shaping up to be an important year for data privacy legislation. In March, Virginia enacted the Consumer Data Protection Act (CDPA) — the nation’s second comprehensive data privacy law. Dozens of state...more
The Federal Trade Commission (FTC) is acting swiftly to restore its authority to obtain consumer redress under Section 13(b) of the FTC Act after the Supreme Court’s recent decision in AMG Capital Management, LLC v. FTC,...more
On April 22 the Supreme Court held in AMG Capital Management, LLC v. FTC that the Federal Trade Commission (FTC) does not have authority under the Federal Trade Commission Act Section 13(b) to seek, nor a court to award,...more
Beam Financial, Inc. (Beam), a mobile banking app, will be banned from offering any service that may be used to deposit, store, or withdraw funds, and must give a full refund to users as part of a settlement with the Federal...more
While the debate continues about whether the Federal Trade Commission (FTC) has the authority to make rules governing antitrust or competition law issues, on March 25, Acting FTC Chair Rebecca Kelly Slaughter announced the...more
On March 25, the Federal Trade Commission (FTC or Commission) released an article reflecting on its work in 2020. The following are some of the most notable actions of the FTC in 2020...more
On March 22, President Joe Biden announced his intent to nominate Lina Khan to be a commissioner of the Federal Trade Commission (FTC). Khan is an outspoken critic of big tech and a former legal advisor to FTC Commissioner...more
2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions...more
3/3/2021
/ Background Checks ,
Banking Sector ,
Bankruptcy Code ,
Banks ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Lenders ,
Student Loans ,
TCPA
The Federal Trade Commission (FTC) issued a press release announcing it is holding an Identity Theft Awareness Week between February 1-5, 2021. The week will be comprised of a series of events providing consumers with helpful...more
On October 29, 2020, the FTC hosted its most recent “Green Lights & Red Flags” workshop. This virtual workshop focused on recent fraud patterns, advertising compliance, and data security....more