The Federal Trade Commission (FTC) has begun sending more than $5 million in refunds to consumers who were harmed by a deceptive credit card debt relief scheme. The funds in this distribution came from ACRO Services, which operated under multiple names and ran the scheme,...
American Honda Finance Corporation (AHFC) reached an agreement with the Consumer Financial Protection Bureau (CFPB) to settle the regulator’s allegations that the company reported inaccurate information that was then added to consumers’ credit reports. The CFPB alleged that the company violated the Fair Credit Reporting Act...
Days before the inauguration of President-elect Donald Trump, the Federal Trade Commission (FTC) released early findings from its ongoing study of what it calls “surveillance pricing” and said this research should continue. Pointing to initial staff findings from research on this issue, the FTC said...
GrubMarket, a private eCommerce food distributor, settled Securities and Exchange Commission charges that it violated antifraud provisions of the federal securities laws by providing investors with unreliable financial information. The SEC alleged that while GrubMarket was soliciting prospective investors in a Series D round between...
After the U.S. Supreme Court upheld the law that forces a sale or ban of TikTok, the company and President-elect Donald Trump said in separate statements that there may be a solution that keeps the social media app available in the U.S. The Supreme Court...
Equifax has agreed to a settlement and consent order that will resolve Consumer Financial Protection Bureau (CFPB) allegations that the consumer reporting agency failed to take steps to ensure the accuracy of its credit reports. Under the consent order, the company will bring its dispute...
General Motors agreed to a proposed order to resolve Federal Trade Commission allegations that it collected, used and sold data from connected cars without drivers’ knowledge or consent. The information included drivers’ precise geolocation data, which disclosed things like visits to medical facilities, and their...
The Consumer Financial Protection Bureau (CFPB) filed an amicus brief Thursday (Jan. 16), saying it aims to ensure that credit reporting companies are held accountable for “junk data” and don’t secure “loopholes” in the law that prevent that accountability. The regulator filed the amicus brief in a...
Block has agreed to pay an $80 million fine and undertake corrective actions to resolve a coordinated enforcement action by 48 state financial regulators that alleged the company violated Bank Secrecy Act (BSA) and anti-money laundering (AML) laws. The enforcement action centered on Block’s mobile...
