Items Tagged with 'FTC'


  • Rental scammer ordered to repay $5.2 million to deceived consumers

    Offered fake rentals and tricked people into signing up for credit monitoring
    The owner of a supposed credit monitoring service will repay $5.2 million to deceived consumers for using fake rental properties to trick those consumers into signing up for the credit services. The company's sites offered "free" credit information but auto-enrolled the renters into a credit monitoring service that charged $29.94 on a monthly basis.
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  • Trump picks Warren ally, former CFPB assistant director Rohit Chopra for FTC post

    Also served as senior adviser at Department of Education in Obama administration
    In what might seem like an unlikely move, President Donald Trump selected Rohit Chopra to serve as a member of the Federal Trade Commission. Chopra’s selection comes as bit of surprise, considering that Chopra is a close ally of Sen. Elizabeth Warren, a former member of Hillary Clinton’s transition team, a former Obama administration official, and a former assistant director of the CFPB. But due to FTC rules, some bipartisanship is necessary among the FTC Commissioners.
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  • FTC launching investigation into Equifax data breach

    Scope of investigation unknown
    Equifax, which is already facing inquiries from the Consumer Financial Protection Bureau, the House Financial Services Committee, the Senate Finance Committee, the office of New York Attorney General Eric Schneiderman, and a lawsuit from the state of Massachusetts over its massive data breach, now has another regulator breathing down its neck – the Federal Trade Commission.
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  • Monday Morning Cup of Coffee: EXCLUSIVE: LA granted stay against FTC appraisal order

    Heads roll at Wells Fargo and maybe the CFPB
    All around the nation, some bonfires are starting and others are being put out. However, it’s getting harder and harder to tell which is which. The FTC puts a stop to itself, Wells Fargo cans a bunch of executives and the White House gets a suggestion on who should be fired next. All that and more in your Monday Morning Cup of Coffee.
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  • FTC forcefully rejects Louisiana’s request to pause regulatory action over appraisals

    Claims state’s recent actions to repeal appraisal law do nothing to change past
    Last week, the state of Louisiana asked the Federal Trade Commission to pause its legal action over the state’s appraisal laws after the state’s governor and the Louisiana Real Estate Appraisers Board issued complementary orders that addressed the FTC’s charges that the board was stifling price competition by requiring that appraisal management companies follow the state’s established polices for how they pay appraisers. Well, the FTC received that request, considered it, and promptly swatted it out to half court.
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  • Louisiana asks FTC to pause regulatory action while state repeals controversial appraisal laws

    Requests 120-day stay to allow state to implement new policies
    The state of Louisiana may have taken action to directly respond to the Federal Trade Commission’s claim that the regulatory body that oversees property appraisals in the state stifled price competition by requiring appraisal management companies to follow the state’s established polices for the fees that AMCs pay to appraisers, but that doesn’t mean that the FTC is ready to drop the case entirely.
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  • Louisiana repealing controversial appraisal laws after FTC accused state of price-fixing

    Governor calls for increased supervision of Louisiana Real Estate Appraisers Board
    A controversial Louisiana law that governed how much appraisal management companies pay real estate appraisers for their work is now set to be repealed after the state’s governor took action in response to the Federal Trade Commission accusing the state of price-fixing.
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  • FTC warns North Carolina that new appraisal fee rules could violate federal laws

    North Carolina currently considering establishing set fees for appraisals
    For the second time in the last two months, the Federal Trade Commission is accusing a state of pursuing appraisal fee laws that could restrict price competition and violate federal antitrust laws. At the end of May, the FTC filed a complaint against the Louisiana Real Estate Appraisal Board, accusing the group of “unreasonably restraining price competition for appraisal services in Louisiana.” Now, North Carolina is in the FTC’s crosshairs.
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