VA Suspends DeVry University’s Participation In “Principles Of Excellence” Program

VA Suspends DeVry University’s Participation In “Principles Of Excellence” Program

The Department of Veterans Affairs announced Monday that it would suspend DeVry University’s status as a Principles of Excellence institution after reviewing a federal lawsuit that accuses the popular for-profit college chain of deceiving prospective students about their employment potential after graduation.  [More]

(Adam Fagen)

Feds Sue To Halt Illegal Solar Panel Telemarketing Operation

It’s not against the law to tell people they might be able to save money by slapping some solar panels on their roofs. What is illegal is using millions of unauthorized calls to people on the Do Not Call list to sell those solar panels.
[More]

frankieleon

Operation That Illegally Debited Consumers’ Bank Accounts Must Repay $43M

Months after federal regulators ordered a data broker to pay $7.1 million for selling consumers’ sensitive information to scammers, a court ordered one of those alleged scammers and its subsidiaries and operators to provide $43 million in relief to victims. [More]

(Jim Chambers)

Staples To Close 50 Stores In Preparation For Life With Or Without Office Depot

As it awaits the final verdict from regulators on its pending billion-dollar purchase of rival office supply chain Office Depot, Staples is preparing to go it alone by announcing plans to shutter at least 50 of its own stores in order to slow declining sales.  [More]

(harrell99)

Data Broker Must Pay $4.1M For Selling Sensitive Information To Scammers

Data brokers are companies that collect and aggregate information on consumers to create detailed profiles that are then sold to other companies to determine if an individual is qualified for loans, mortgages, jobs, and other things. But sometimes, these companies get their hands on unauthorized, highly sensitive personal information and sell it. Today, four connected data brokers agreed to settle federal charges of selling this sort of information to unscrupulous customers. [More]

Essendant Agrees To Buy Commercial Business From Staples And Office Depot If FTC Approves Merger

Essendant Agrees To Buy Commercial Business From Staples And Office Depot If FTC Approves Merger

Staples and Office Depot want to merge and form one mega-chain of office supply stores that you mostly visit to drop off UPS packages. The Federal Trade Commission doesn’t approve of this union, because both sell supplies and serve as wholesalers to smaller office suppliers. The companies announced late yesterday that they’ve reached an agreement with Essendant, a smaller national supplier, to take over some of that business if the merger goes through. [More]

Rite Aid Shareholders Vote To Approve $9.4B Merger With Walgreens

Rite Aid Shareholders Vote To Approve $9.4B Merger With Walgreens

Walgreens’ path to bring Ride Aid under its wing passed one hurdle on Thursday, as shareholders for the latter chain of drug stores approved a $9.4 billion merger plan.  [More]

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.
[More]

DeVry University Accused Of Deceptive Advertising & Misleading Students On Job Prospects

DeVry University Accused Of Deceptive Advertising & Misleading Students On Job Prospects

Federal regulators continued a crackdown on allegedly unscrupulous for-profit college companies Wednesday, filing a lawsuit against DeVry University. The popular chain of schools stands accused of deceiving prospective students about their employment potential after graduation.  [More]

Staples Cuts Jobs In Preparation For Life With Or Without Office Depot Merger

Staples Cuts Jobs In Preparation For Life With Or Without Office Depot Merger

It appears that Staples is adhering to the adage, “hope for the best, prepare for the worst,” when it comes to their challenged billion-dollar merger with rival Office Depot. This week, the retailer took steps to streamline its operation, changing its management team and reportedly laying off hundreds of employees at its headquarters.  [More]

Staples, Office Depot Extend Merger Deadline To Fight Antitrust Lawsuit

Staples, Office Depot Extend Merger Deadline To Fight Antitrust Lawsuit

Just because the Federal Trade Commission went to court in an effort to block the pending merger of Staples and Office Depot, doesn’t mean the companies are putting the mega-deal behind them. In fact, the office-supply chains have extend the contract for their proposed $6.3 billion merger to allow more time to placate antitrust regulators.  [More]

Judge Orders University Of Phoenix Parent Company To Turn Over Documents To Feds

Judge Orders University Of Phoenix Parent Company To Turn Over Documents To Feds

Just because the University of Phoenix may be able to once again recruit on military bases and enroll new students using the military tuition assistance program doesn’t mean the for-profit college behemoth’s problems are behind it. Instead, a court ruled last week that the school’s parent company, Apollo Education Group, must provide records requested by federal investigators nearly six months ago.  [More]

Two Payday Lenders Agree To Pay $4.4M In Fines, Release Borrowers From $68M In Loans, Fees

Two Payday Lenders Agree To Pay $4.4M In Fines, Release Borrowers From $68M In Loans, Fees

Federal regulators continued an ongoing crackdown on deceptive payday loan players by reaching a multimillion-dollar agreement with two lenders to settle accusations they illegally charged consumers with undisclosed and inflated fees.  [More]

(Gumby Liberation Organization)

Regulators Stop Alleged Office Supply Scam That Targeted Charitable Organizations, Small Businesses

We’ve said it a thousand times: scammers are the worst, and those that take advantage of organizations trying to do good in the world are the lowest of the low. Such was allegedly the case for Liberty Supply Co., which federal regulators have accused of running an office supply scam that targeted charitable organizations and small businesses.  [More]

(Mike Mozart)/
(Mike Mozart)

Verizon, Sprint Customers Have Until Dec. 31 To Claim A Piece Of The $158M Cramming Settlement Pie

The holidays can be a tiring, stressful time, full of never-ending checklists. While you might have checked off plenty of your to-do items, if you’re a Verizon or Sprint customer, you’ll want to make sure you add “check to see if I’m eligible for a bill-cramming refund,” to the top of your list.  [More]

Regulators Accuse Oracle Of Deceiving Customers About Security Of Java Updates

Regulators Accuse Oracle Of Deceiving Customers About Security Of Java Updates

The owners of more than 850 million personal computers using Oracle’s Java Platform Standard Edition were misled about the security of their devices after software updates left the PCs susceptible to hack attacks according to federal regulators.  [More]

Identity Theft Company LifeLock Once Again Failed To Actually Keep Identities Protected, Must Pay $100M

Identity Theft Company LifeLock Once Again Failed To Actually Keep Identities Protected, Must Pay $100M

Five months after federal and state regulators accused identity theft protection company LifeLock of violating a 2010 settlement in which it paid $11 million for allegedly using false claims regarding effectiveness of its services, the company has been ordered to pay $100 million in penalties and refunds for once again misleading consumers.  [More]

Mortgage Relief Scammers Ordered To Pay $5.4M

Mortgage Relief Scammers Ordered To Pay $5.4M

Eight months after federal regulators took action to stop a mortgage relief company from making hollow promises to homeowners facing foreclosure, the ringleaders behind the operation have agreed to pay more than $5.4 million in penalties and never work in the mortgage relief or telemarketing business again.  [More]