The Federal Trade Commission’s law enforcement actions resulted in $337.3 million in refunds to consumers in 2024. That total included $280.7 million in refunds directly from the FTC, with the remainder being returned to consumers by the defendants or other federal agencies administering the refund...
A federal judge wants more information on Elon Musk’s government cost-cutting project. As Reuters reported Thursday (March 13), U.S. District Judge Tanya Chutkan has ordered the Musk-led Department of Government Efficiency (DOGE) to turn over a variety of records and answer queries about their work at slashing...
Several insurance companies doing business as National General and Allstate are facing a lawsuit in which the New York State Attorney General alleges that they failed to protect the personal information of consumers. The Office of the Attorney General alleged in its lawsuit that National General failed to...
Revolut and Visa reportedly filed legal challenges against the U.K.’s Payment Systems Regulator (PSR), seeking to overturn the regulator’s proposed cap on interchange fees on cross-border online payments. The two companies argue that the regulator overstepped its powers with the plan it proposed in 2023,...
The Federal Trade Commission (FTC) said Tuesday (March 4) that a court granted its motion for a preliminary injunction against Seek Capital and its founder and CEO, Roy Ferman. The preliminary injunction, which was granted on Feb. 20, prohibits Seek Capital from making false claims related to small business...
Did Charlie Javice dupe JPMorgan Chase into buying her college financial aid startup Frank? Or did the world’s largest bank simply accuse Frank of fraud out of buyer’s remorse? Those will be the questions facing jurors as Javice’s trial continues in federal court in Manhattan...
A London court approved a settlement in a class action lawsuit brought against Mastercard over its swipe fees. By approving the deal, the Competition Appeal Tribunal rejected a challenge by the litigation funder, Innsworth Advisors, which alleged that the settlement undervalued the claim, Bloomberg reported...
Coinbase said Friday (Feb. 21) that Securities and Exchange Commission (SEC) staff have agreed in principle to dismiss the agency’s enforcement case against the cryptocurrency company, subject to commissioner approval. “We’ve always maintained that we were right on the facts and the law, and today’s announcement...
A grand jury is reportedly probing criminal conduct at bankrupt FinTech firm Synapse. The grand jury has questioned an executive who sounded alarms before the company’s collapse, The Wall Street Journal (WSJ) reported Thursday (Feb. 20), citing unnamed sources. Before its troubles, Synapse connected other...
