FTC

The Consumer Financial Protection Bureau (CFPB) – which refers to itself as “a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives” – already has shown that it will not be a shrinking violet when it comes to exercisi

The FTC says that CVS Caremark Corporation misrepresented the prices of certain Medicare Part D prescription drugs – including drugs used to treat breast cancer symptoms and epilepsy – at CVS and Walgreens pharmacies. That seniors and disabled consumers were hit with higher prescription drug prices.

Next month, the Internet Corporation for Assigned Names and Numbers (ICANN), the organization that oversees Internet domain names, is going to be dramatically expanding the domain name system. That worries the FTC. 

Certainly Judge Rakoff’s rejection of a $285 million SEC-Citigroup settlement was based, at least in part, on his view that the $285 million was an insufficient penalty to impose on Citigroup. We wonder how he would react to the FTC’s proposed settlement with Facebook over charges that Facebook deceived consumers by failing to keep privacy promises it made. The cost to Facebook of the proposed settlement: $0. 

The marketers of Four Loko have agreed to re-label and repackage the supersized, high-alcohol, fruit-flavored, carbonated malt beverage to resolve Federal Trade Commission charges of deceptive advertising. 

On the heels of reaching a settlement with Toys “R” Us, the FTC can now add a notch to its belt for Google.

Toys “R” Us, Inc. has agreed to pay a $1.3 million civil penalty to settle Federal Trade Commission charges that it violated a 1998 order governing its dealings with its suppliers. The order prohibits Toys “R” Us from urging any supplier to limit supply of products or refuse to sell to discounters.

The Federal Trade Commission has reached a settlement with six defendants who marketed a credit card that could be used only to buy products from their Low Pay merchandise catalog.

The marketers of a “Rapid Debt Reduction” program who promised to lower interest rates on credit cards – for an up-front fee of up to $899 – have settled Federal Trade Commission charges that they misled consumers. Under a court order settling the FTC’s case, the pitchmen have been banned from marketing debt-relief services and have agreed to pay $1.5 million that the FTC says will be used to refund defrauded consumers. 

The Federal Trade Commission is warning 18 Internet websites offering free credit reports that they must clearly disclose that a free report is available under federal law.