Tag: FTC

FTC Sends Nearly $2.4 Million to Raging Bull Customers After the Company Agrees to Settle Charges of Bogus Earnings Claims

Posted on By 4am Research No Comments on FTC Sends Nearly $2.4 Million to Raging Bull Customers After the Company Agrees to Settle Charges of Bogus Earnings Claims

The FTC sued Raging Bull and its owners in December 2020 as part of Operation Income Illusion, a nationwide law enforcement effort targeting deceptive income claims. The FTC charged that the company used bogus earnings claims to trick people into paying for investment strategies and recommendations, and then trapped them into hard-to-cancel subscription plans with costly fees. The FTC’s complaint noted that consumers who purchased the site’s services lost millions of dollars in their investments.

In March 2022, Raging Bull and its owners agreed to a settlement with the FTC that required them to pay $2.425 million, end their earnings deception, get affirmative approval from consumers for subscription sign ups, and provide them with a simple method to cancel recurring charges.

_enforcement, Enforcement Actions, enforcement archive

FTC Enforcement Action to Bar GoodRx from Sharing Consumers’ Sensitive Health Info for Advertising

Posted on By CorruptionLedger No Comments on FTC Enforcement Action to Bar GoodRx from Sharing Consumers’ Sensitive Health Info for Advertising

  The Federal Trade Commission has taken enforcement action for the first time under its Health Breach Notification Rule against the telehealth and prescription drug discount provider GoodRx Holdings Inc., for failing to notify consumers and others of its unauthorized disclosures of consumers’ personal health information to Facebook, Google, and other companies. In a first-of-its-kind…

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corporate corruption, Corruption, health, Region US & Canada, regulatory compliance, Regulatory News, Surveillance & Privacy

FTC Finalizes Order with Ed Tech Provider Chegg for Lax Security that Exposed Student Data

Posted on By CorruptionLedger No Comments on FTC Finalizes Order with Ed Tech Provider Chegg for Lax Security that Exposed Student Data

In a complaint first announced in October 2022, the FTC said that Chegg failed to protect the personal information it collected from users and employees. For example, the company stored users’ personal data on its cloud storage databases in plain text and, until at least 2018, employed outdated and weak encryption to protect user passwords. As a result of its poor data security, Chegg experienced four data breaches that exposed the personal information of about 40 million users and employees, including users’ email addresses and sensitive scholarship data such as their dates of birth, sexual orientation and disabilities, as well as financial and medical information about Chegg employees.

The FTC’s order requires Chegg to implement a comprehensive information security program, limit the data the company can collect and retain, offer users multifactor authentication to secure their accounts, and allow users to request access to and deletion of their dat

_enforcement, reg-privacy, Regulatory News

FTC Orders an End to Illegal Mastercard Business Tactics and Requires it to Stop Blocking Competing Debit Card Payment Networks

Posted on By CorruptionLedger No Comments on FTC Orders an End to Illegal Mastercard Business Tactics and Requires it to Stop Blocking Competing Debit Card Payment Networks

  The Federal Trade Commission is ordering an end to illegal business tactics that Mastercard has been using to force merchants to route debit card payments through its payment network, and is requiring Mastercard to stop blocking the use of competing debit payment networks. Under a proposed FTC order, Mastercard will have to start providing…

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_enforcement, banks, z-Exclude

FTC shuts down companies that falsely promised to eliminate credit card debt. List of defendants and allegations.

Posted on By CorruptionLedger No Comments on FTC shuts down companies that falsely promised to eliminate credit card debt. List of defendants and allegations.

The FTC has temporarily shut down a credit card debt relief scheme operated by Sean Austin, John Steven Huffman, and John Preston Thompson and their affiliated companies that allegedly took millions from people by falsely promising to eliminate or substantially reduce their credit card debt: ACRO SERVICES LLC, a limited liability company, also d/b/a Capital…

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banks, Economy, Region US & Canada

FTC & States Sue Google and iHeartMedia for Deceptive Ads Promoting the Pixel 4 Smartphone

Posted on By CorruptionLedger No Comments on FTC & States Sue Google and iHeartMedia for Deceptive Ads Promoting the Pixel 4 Smartphone

The Federal Trade Commission and state attorneys general announced lawsuits against Google LLC and iHeartMedia, Inc. for airing nearly 29,000 deceptive endorsements by radio personalities promoting their use of and experience with Google’s Pixel 4 phone in 2019 and 2020. The proposed FTC orders and the state judgments settling the allegations bar Google and iHeartMedia from…

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Corruption

Students Misled by Saint James Medical School’s Deceptive Marketing Claims

Posted on By 5amResearch No Comments on Students Misled by Saint James Medical School’s Deceptive Marketing Claims

The Federal Trade Commission is sending payments totaling more than $830,300 to 1,376 people who began their enrollment at Saint James School of Medicine between Fall 2016 and Summer 2021. The for-profit medical school in the Caribbean and its Illinois-based operators allegedly misled prospective students about their chances of success—both in passing a medical school…

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corporate corruption, Corruption, Region US & Canada

California Acts to Stop Ygrene Energy Fund from Deceiving Consumers About PACE Financing, Placing Liens on Homes Without Consumer Consent

Posted on By 5amResearch No Comments on California Acts to Stop Ygrene Energy Fund from Deceiving Consumers About PACE Financing, Placing Liens on Homes Without Consumer Consent

The Federal Trade Commission and State of California are taking action against home improvement financing provider Ygrene Energy Fund Inc. for deceiving consumers about the potential financial impact of its financing, and for unfairly recording liens on consumers’ homes without their consent. The FTC and California allege that Ygrene and its contractors falsely told consumers that…

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corporate corruption, government corruption, Region US & Canada

Twitter to Pay $150 Million Civil Penalty to Resolve Data Privacy Violations

Posted on By CorruptionLedger No Comments on Twitter to Pay $150 Million Civil Penalty to Resolve Data Privacy Violations

May 31, 2022. The Department of Justice, together with the Federal Trade Commission (FTC), announced a settlement that, if approved by a federal court, will require Twitter Inc. to pay $150 million in civil penalties and implement robust compliance measures to protect users’ data privacy. The settlement will resolve allegations that Twitter violated the FTC…

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regulatory compliance, Regulatory News, Surveillance & Privacy