Mike Mozart

Santander Bank To Pay $10M Fine Over Alleged Illegal Overdraft Practices

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.
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Pamela Greer

Spammers Used Hacked Email Accounts To Push Bogus Weight-Loss Products

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.
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You Can’t Claim Your Glue Is “Made In USA” If It’s Made From Imported Chemicals

You Can’t Claim Your Glue Is “Made In USA” If It’s Made From Imported Chemicals

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.
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Feds Say Vision-Improvement App Not Backed By Science

Feds Say Vision-Improvement App Not Backed By Science

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

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]

Regulators Sue Pension Advance Companies Over Deceptive Marketing Of Loans

Regulators Sue Pension Advance Companies Over Deceptive Marketing Of Loans

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]

(cmorran123)

Citibank Must Pay $700M Over Illegal Marketing, Collection Practices

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]

The marketers shut down by the FTC hawked "risk free trials" of a variety of skincare products that weren't actually free.

FTC Says Some Of Those “Risk-Free Trials” For Skincare Products Are Bogus, Shuts ‘Em Down

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]

Sybren Stüvel

Don’t Lie About Paying For Online Reviews. It’s Against The Law

In this era of social media and crowdsourced reviews, businesses with happy customers do what they can to publicize positive feedback. But if a company compensates customers for reviews and fails to disclose that tit-for-tat relationship, it’s illegal and deceptive marketing. [More]

(Alan Cleaver)

FTC Files Lawsuit To Shut Down Deceptive Payday Loan Debt Relief Operation

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]

MelApp is one of two melanoma detection apps that came under scrutiny by the FTC.

Feds Warn: These Melanoma Detection Apps Aren’t Supported By Scientific Evidence

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]

Marketers Of Green Coffee Bean Weight-Loss Products Must Refund $9M

Marketers Of Green Coffee Bean Weight-Loss Products Must Refund $9M

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]

(ken fager)

Whistleblowing Former For-Profit College Dean To Receive $395K After Being Fired

Over the past year, we’ve heard many horrendous stories from current and former employees about the deceptive practices used by for-profit colleges to attract students. Now, one such employee is being compensated after she says she was fired from the college she worked at because she brought attention to the school’s allegedly deceitful practices.  [More]

(northernplateguy)

U.S. Bank Ordered To Refund Customers $48M For Deceptive Add-Ons

Promising consumers a service and then never delivering on that promise is not a good way to do business. When those services are meant to protect consumers’ bank accounts, then you’re likely going to be in trouble with the Consumer Financial Protection Bureau. Such was the case today when the CFPB ordered U.S. Bank to pay more than $57 million in refunds and penalties for allegedly deceptive banking practices. [More]

CFPB Orders Online Mortgage Lender To Pay $19.3 Million For Bait-And-Switch Scheme

CFPB Orders Online Mortgage Lender To Pay $19.3 Million For Bait-And-Switch Scheme

Business wasn’t exactly booming for mortgage lenders after the great recession and housing market slump, but that doesn’t mean they had the right to mislead consumers just to make a few (million) bucks. One company that allegedly did just that must repay million of dollars to customers it wronged. [More]

(Molly)

Reverse Mortgage Company Caught Mailing Deceptive Info To Seniors

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]

Food Watchdog Group Threatens To Sue Campbell Over Juice Content Of V8 Splash, V8 V-Fusion Drinks

Food Watchdog Group Threatens To Sue Campbell Over Juice Content Of V8 Splash, V8 V-Fusion Drinks

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]

Senate Investigates Publishers Clearing House Amid Allegations Of Deceptive Marketing

Senate Investigates Publishers Clearing House Amid Allegations Of Deceptive Marketing

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]