: Key Takeaways: In a revealing study by Fair4All Finance, the not-for-profit financial inclusion organization, it has been discovered that women, once rejected for credit or loans, are more likely than men to perceive “no” as a final verdict. As we celebrate International Women’s Day, the findings shed light on the gender credit crunch, emphasizing the need for addressing financial inequalities faced by women. Breaking Down the Gender Credit Crunch: A Comprehensive Analysis Barriers to Credit Applications: The study, polling 3,101 adults across the UK, uncovered that over a third of women (36%) are deterred from applying for credit due to The post The Gender Credit Crunch: How Women Navigate Financial Rejection appeared first on Business Today
: Company to pay $22 million for offering "free" credit scores that turned out to be not so free wfg-adm109 November 19, 2014 | 11:12AM Company to pay $22 million for offering "free" credit scores that turned out to be not so free By Lesley Fair We’ve brought law enforcement actions – dozens of ‘em. We’ve held workshops, issued reports, and sent warning letters. If it takes sky writing, tap dancing, and a float in a Thanksgiving Day parade, we’ll do that, too. But here’s what’s not going to happen. The FTC is not giving up until businesses get the message that: 1) Free means free; and 2) Key terms and conditions have to be clearly and conspicuously disclosed. A $22 million settlement announced by the FTC and the AGs of Illinois and Ohio with a national credit monitoring service advertising so-called “free” credit scores emphasizes that point. Another note for practitioners: It's the FTC's third case alleging violations of ROSCA . One Technologies and related outfits marketed their credit monitoring programs, M[...]
: Setting the debt parking brake lfair November 30, 2020 | 12:14PM Setting the debt parking brake By Lesley Fair What are the biggest risks of parking? A dinged door? A bruised bumper? For consumers victimized by the pernicious practice of debt parking, the impact on their financial health can be devastating. And if you’re a debt collector who engages in debt parking, an FTC settlement with Midwest Recovery Systems suggests you could face law enforcement action for violations of the FTC Act, the Fair Debt Collection Practices Act, and the Fair Credit Reporting Act. Just what is debt parking? It’s the practice of placing purported debts on consumers’ credit reports without first attempting to communicate with the consumer about the debt. Some call it “passive debt collection,” but there’s nothing passive about the injury it can inflict. Consumers often don’t learn about it until a mortgage company, prospective employer, or other decision maker pulls their credit report and spots what appears to be an unpaid deb[...]
: Key Takeaways: Subtitle: Delving into Profitability Metrics and Strategic Expansion Insights Across UK Industries. The Profitability Equation: Decoding Industries’ Performance In the realm of business efficiency, a key metric stands out: profit per employee. This metric not only reflects operational efficiency but also plays a pivotal role in strategic decision-making, especially for small and medium-sized enterprises (SMEs) aiming to maintain profitability amidst growth aspirations. A recent analysis by money.co.uk business credit card experts unveils the industries with the highest profit per employee in the UK, shedding light on strategic insights for sustainable business expansion. Unveiling Profitability: Top Industries and Their The post Unlocking Success: Industries with the Highest Profit per Employee Revealed! appeared first on Business Today
: Key Takeaways: Subtitle: Unraveling Profitability Trends and Strategic Insights Across UK Industries. Unveiling the Profitability Enigma: Industries at Their Employee-Earning Peak In the intricate tapestry of business success, a crucial thread is the profit per employee metric. It not only measures operational efficiency but also serves as a barometer for strategic decision-making, especially critical for SMEs aiming at sustained profitability amid growth ambitions. A recent analysis by money.co.uk business credit card experts delves into the industries with the highest profit per employee in the UK, unlocking strategic insights for businesses eyeing financial excellence. Mining the Wealth: Top Industries and Their The post Secrets Unveiled: Industries That Turn Employees Into Gold Mines appeared first on Business Today
: Judge orders $13.4 million in contempt action challenging BlueHippo hype lfair May 2, 2016 | 10:52AM Judge orders $13.4 million in contempt action challenging BlueHippo hype By Lesley Fair Animation fans remember the ballet-dancing pink hippos in Fantasia . In Egyptian mythology, the god of disorder was depicted as a red hippo. And many consumers – especially those already in financial distress – were drawn in by national TV and radio ads for BlueHippo, a company that claimed to finance the purchase of computers and other electronics for people with “less than perfect credit, bad credit, no credit.” A $13.4 million ruling by a United States District Judge in an FTC contempt action sends a message to hippos of all hues (and businesses) about the FTC’s commitment to effective order enforcement. In 2008, the FTC sued BlueHippo Funding and BlueHippo Capital for, among other things, not delivering ordered merchandise, failing to make disclosures required by the Truth in Lending Act and Regulation Z, and illegally[...]
: Amazon will pay $2.25 million in civil penalties to settle Federal Trade Commission allegations that the online retail giant knowingly violated the Fair Credit Reporting Act (FCRA) by refusing to provide transaction records to consumers whose personal information was used by identity thieves to commit fraud. The complaint , filed by the Department of Justice upon notification and referral from the FTC, alleged that in numerous instances, Amazon.com Inc. failed to comply with Section 609(e) of the FCRA, which requires companies to, within 30 days of a consumer’s request, provide victims of identity theft with application and business transaction records about fraudulent transactions made in their names. According to the complaint, Amazon had no written policy to respond to Section 609(e) requests until early 2025, after it learned of the FTC’s investigation, despite prior outreach from FTC staff advising the company to review its compliance with Section 609(e). “Amazon often put identity theft victims through[...]
: Today, the Federal Trade Commission announced that grocery delivery provider Instacart will pay $60 million in refunds to consumers to settle allegations that the company engaged in numerous unlawful tactics that harmed shoppers and raised the cost of grocery shopping for Americans. Instacart will be required to cease its deceptive practices under a proposed FTC order, and consumers who were charged for Instacart+ without their express informed consent will receive refunds as a result of the settlement. “Instacart misled consumers by advertising free delivery services—and then charging consumers to have groceries delivered—and failing to disclose to consumers that signed up for a free trial that they would be automatically enrolled into its subscription program,” said Christopher Mufarrige, Director of the FTC’s Bureau of Consumer Protection. “The FTC is focused on monitoring online delivery services to ensure that competitors are transparently competing on price and delivery terms.” The FTC has alleged that[...]
: First FTC ROSCA case challenges bogus BOGO and "free" claims wfg-adm109 October 21, 2014 | 12:02PM First FTC ROSCA case challenges bogus BOGO and "free" claims By Lesley Fair It’s called ROSCA – the Restore Online Shoppers’ Confidence Act – and it prohibits marketers from charging consumers for an online transaction unless the marketer has clearly disclosed all material terms of the deal and received the consumer’s express informed consent. Your e-commerce clients will want to know about the FTC’s first ROSCA case , filed recently in Nevada. According to the lawsuit, Health Formulas, LLC and a tangle of related California- and Nevada-based companies and individuals – consumers may know them as Simple Pure Nutrition – pitched a variety of products for weight loss, muscle building, virility, and skin care. The defendants advertised diet supplements like Pure Green Coffee Bean Plus and RKG Extreme as a shortcut to drop the pounds: “Burn fat without diet or exercise,” “Extreme weight loss!” “Shed pounds fast!” “[...]
: Speaking of Spokeo: Part 2 — The company’s allegedly bogus endorsements wfg-adm109 June 13, 2012 | 12:25PM Speaking of Spokeo: Part 2 — The company’s allegedly bogus endorsements By Lesley Fair The lawsuit against data broker Spokeo is the FTC’s first Fair Credit Reporting Act case addressing the collection of online info — including data from social networking sites — when used in the context of employment screening. But that’s not the only way the Spokeo settlement touches on social media. The FTC also charged that Spokeo violated Section 5 by having employees post glowing recommendations of the company’s services on news and technology websites without disclosing their true identity. Perhaps just the work of a rogue cubicle occupant? No, said the FTC. According to the complaint , Spokeo directed its employees to write the comments. Spokeo managers then edited what they wrote and had the staffers post the endorsements using account names provided by Spokeo. The purpose, says the FTC, was to give read[...]
: Fighting Coronavirus scams: Taking stock chundycz May 8, 2020 | 9:01AM Fighting Coronavirus scams: Taking stock By Andrew Smith, Director, FTC Bureau of Consumer Protection Since the beginning of the COVID-19 crisis, the FTC has released dozens of warning letters against people trying to make an illegal buck off the Coronavirus. More than a month in, it seems like a good time to look back at what’s happened. If you follow this blog, you’ll know these have been busy weeks – with advice about spotting the many scams we’re all facing, news of the warning letters sent on a wide range of scams, and some enforcement actions filed. You might wonder: Why send letters? Why not just sue the !*$@&#? Fair question. But the letters are working. And, given the scope of the scams out there right now, we want to get the best and fastest results we can with the most efficient tool we have. Right now, for these Coronavirus-related issues, that’s warning letters. In general, here’s how it goes: We spot someone advertising some[...]
: Buckle up for a two-lane look at car buying lfair July 30, 2020 | 1:04PM Buckle up for a two-lane look at car buying By Lesley Fair It’s one of the biggest purchases people make, but two new FTC staff reports examine some common pitfalls when consumers are in the market for a car. Buckle down and read the Bureau of Consumer Protection’s Buckle Up: Navigating Auto Sales and Financing , which focuses on the challenges buyers face in getting accurate, understandable information when shopping for a vehicle. Not in the auto business? Not so fast. The deep-dive analysis of Buckle Up and an accompanying report by BCP staff and the Bureau of Economics – The Auto Buyer Study: Lessons From In-Depth Consumer Interviews And Related Research – offer insights into the perception and behavior of consumers in the study that can apply to other industries. The FTC’s interest in auto-related transactions goes back decades. (Check out Volume 1 of Federal Trade Commission Decisions for a 1919 case regarding deception in the s[...]
: L’affaire judiciaire m’ayant opposé à l’association ” Institut pour la Justice “, les guillemets sont importants car cette association n’est ni un institut ni pour la justice, cette affaire donc a donc connu un dénouement heureux après sept ans de procédure. Je suis au fil de ces sept années resté aussi coi qu’un de mes clients en garde à vue, laissant mes adversaires s’exprimer sur le sujet. À présent, pour citer le grand philosophe Jules Winnfield : « Allow me to retort. » Ce récit des faits se veut, comme à l’accoutumée ici, factuel. Je citerai les décisions de justice qui ont été rendues, sinon in extenso du moins l’intégralité des passages pertinents. J’y ajouterai mon commentaire, car je suis ici chez moi, vous en ferez ce que vous voudrez (si vous manquez d’idées, vous trouverez au fil de ces billets quelques suggestions sur quoi en faire), l’essentiel étant qu’à la fin, vous saurez tout. Cette saga aura lieu en cinq chapitres, qui couvriront l’affaire en ordre chronologique. Le premier, que vous tene[...]
: L'affaire judiciaire m'ayant opposé à l'association ” Institut pour la Justice “, les guillemets sont importants car cette association n'est ni un institut ni pour la justice, cette affaire donc a donc connu un dénouement heureux après sept ans de procédure. Je suis au fil de ces sept années resté aussi coi qu'un de mes clients en garde à vue, laissant mes adversaires s'exprimer sur le sujet. À présent, pour citer le grand philosophe Jules Winnfield : ' Allow me to retort. ' Ce récit des faits se veut, comme à l'accoutumée ici, factuel. Je citerai les décisions de justice qui ont été rendues, sinon in extenso du moins l'intégralité des passages pertinents. J'y ajouterai mon commentaire, car je suis ici chez moi, vous en ferez ce que vous voudrez (si vous manquez d'idées, vous trouverez au fil de ces billets quelques suggestions sur quoi en faire), l'essentiel étant qu'à la fin, vous saurez tout. Cette saga aura lieu en cinq chapitres, qui couvriront l'affaire en ordre chronologique. Le premier, que vous tene[...]