Santander Bank has agreed to pay $10 million to settle federal regulatory allegations that it illegally charged overdraft fees to customers who didn’t affirmatively opt in to the bank’s overdraft policies.
Word-of-mouth is a great way to promote a weight-loss product, as you’re more likely to trust a passed-along recommendation from a friend than some ad you see on the internet. That’s why the operators of an alleged spam scam hijacked hacked email accounts to spread the word about a slew of unproven weight-loss products.
While there’s no official pre-approval process for products labeled “Made In U.S.A,” there are federal standards for what that phrase means, and a company can get into trouble for slapping “Made In U.S.A.” on imported products — like the glue company accused of misleading consumers about where its sticky stuff comes from.
They say that staring at a computer for hours at a time can ruin you vision, so it might be hard to swallow claims that a mobile app can improve your vision… especially when science doesn’t back it up. [More]
Regulators Halt Alleged Energy Drink Pyramid Scheme That Targeted College Students, Other Young Adults
Federal regulators continued their crackdown on supposedly deceptive dietary supplement companies this week by temporarily shutting down an Arizona-based company that allegedly ran a pyramid scheme promising college students they would rake in the big bucks by selling energy drinks. [More]
Five months after the Consumer Financial Protection Bureau warned that pension advance loans could be the new payday loan – leaving consumers who are already struggling to make ends meet in dire financial situations – the agency announced it had teamed up with the state of New York to shut down two companies that allegedly deceived retirees about the risks and costs associated with the loan products. [More]
The Consumer Financial Protection Bureau ordered Citibank and one of its subsidiaries to pay $700 million in relief to more than 8.8 million consumers for engaging in a string of illegal credit card practices, including deceptively marketing and billing for debt protection and credit monitoring services, and misrepresenting fees related to debt collection actions. [More]
Sometimes it’s hard to ignore the lure of a “risk-free trial” when it comes with a product that promises to leave your skin youthful, radiant and as soft as a baby’s bottom. But as the Federal Trade Commission once again reminds us, those deals often come with strings attached and hollow promises. [More]
It’s probably safe to assume that consumers stuck in the payday loan debt-trap have enough financial issues without being deceived by a company promising to make their debts disappear. There may be one less unsavory debt relief company around after the Federal Trade Commission sued to stop an operation that targeted millions of consumers. [More]
Early detection of cancer can help save lives and make treatment easier, so the idea of mobile app that can spot possible skin might seem like a godsend… if there were any science to back it up. [More]
By now we should all be fairly familiar with the saga of Dr. Oz, the supposed “miracle” weight-loss benefits of green coffee bean extract, and the Federal Trade Commission’s mission to put a stop to the craze by shutting down marketers and online sellers that created fake news sites, fake reporters and relied on bogus studies to sell the product. The Commission’s work continued Monday when one such company agreed to pay $9 million in consumer redress to settle charges of deceptively marketing the products. [More]
Even under the best of circumstances, choosing to take out a reverse mortgage is a difficult and often costly decision for many senior citizens and their families. But when you throw in a number of half-truths and marketing materials designed to mislead consumers into thinking they are taking part in a government-run program, well, that’s just wrong. And the state of New York won’t stand for it as one company recent found out. [More]
While it’s known for its 100% V8 vegetable juice, Campbell Soup knows not everyone wants to straight up chug tomatoes. That’s why it’s been peddling its V8 Splash and V8 V-Fusion drinks, which combines fruit juices as well as those healthy veggies. But one food watchdog group says the company is misleading consumers about exactly how much juice is actually in those beverages. It’s threatening to sue Campbell. [More]
For years the friendly faces at Publishers Clearing House have been giving consumers hope that they’ve won or are about to win a fabulous prize. But does the company mislead consumers with deceptive sweepstakes promotions? In some instances, yes, a new report has found. [More]