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]
federal trade commission
Staples, Office Depot Extend Merger Deadline To Fight Antitrust Lawsuit
By 1.20.16
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
By 1.19.16
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
By 1.5.16
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]
Regulators Stop Alleged Office Supply Scam That Targeted Charitable Organizations, Small Businesses
By 12.29.15
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]
Verizon, Sprint Customers Have Until Dec. 31 To Claim A Piece Of The $158M Cramming Settlement Pie
By 12.28.15
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
By 12.21.15
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
By 12.17.15
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
By 12.15.15
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]
Bed Bath & Beyond, JCPenney, Others To Pay $1.3M For Trying To Pass Off Rayon As “Bamboo”
By 12.9.15
Four national retailers will be paying a hefty tab at the register after federal regulators say they continued to deceptively mislabel rayon products as “bamboo,” despite being warned five years ago that this practice violated the law. [More]
FTC Says Staples-Office Depot Deal Is A No-Go, Files Antitrust Lawsuit To Stop Mega-Merger
By 12.7.15
The nightmare dream of the formation of the $6.3 billion StaplesMaxDepot Voltron has officially hit a (very big) speed bump: federal regulators unsurprisingly filed a complaint today charging that the proposed mega-merger’s affect on commercial businesses would violate antitrust laws. [More]
Company Must Pay $1.35M For Claiming Copper-Infused Sleeves Relieve Chronic Pain
By 12.1.15
Slapping on a knee brace or wrapping your ankle might provide a bit of comfort for aches and pains related to physical activity, but who wants to do all that work when slipping on copper-infused compression clothing can take all your pain away? That seems like a simple, easy way to rid yourself of severe and chronic pain and inflammation, you know, if it were actually backed by science. But it apparently wasn’t, and now athletic apparel company Tommie Copper must pay for that little oversight – to the tune of $1.35 million. [More]
Regulators Reportedly Poised To Block Staples, Office Depot Mega-Merger
By 12.1.15
Providing office supplies for commercial businesses could be the final nail in the coffin of the would-be formation of the $6.3 billion StaplesMaxDepot Voltron, with regulators reportedly poised to block the mega-merger next week. [More]
FTC Bans Wire Transfers, Reloadable Cash Cards, And Payment Orders In Phone Transactions
By 11.18.15
We’ve shared warnings about many different types of telemarketing scams, but they all have one thing in common: they extract money from their victims using quick and untraceable methods like wire transfers or prepaid debit cards. Today, the Federal Trade Commission announced an amendment to current telemarketing rules that’s meant to protect consumers from fraud over the phone lines. [More]
Authorities Shut Down 5 Shady Debt Collectors, Secure $6.5M In Relief
By 11.4.15
The Federal Trade Commission teamed up with two states to put an end to five unscrupulous debt collection operations that illegally deceived millions of Americans. The actions, made under the “Operation Collection Protection” initiative between federal, state and local law enforcement authorities, represent $6.5 million in relief for millions of consumers. [More]
Sprint To Pay $2.95M Over Claims It Violated The Fair Credit Reporting Act
By 10.21.15
Under the Federal Trade Commission’s Fair Credit Reporting Act, companies are required to inform consumers when they are offered services with less favorable terms than those offered to consumers with better credit standing. That apparently wasn’t the case for Sprint. [More]
Federal Trade Commission Opens Probe Into Volkswagen’s “Clean Diesel” Advertising
By 10.15.15
The list of state and federal agencies probing Volkswagen’s recent emissions scandal grew by one Wednesday: The Federal Trade Commission announced it has opened an investigation into the company’s advertisements that touted “clean diesel” vehicles, despite the fact the cars contained “defeat devices,” which are designed to cheat emissions tests. [More]
Consumer, Privacy Groups Urge Federal Regulators To Investigate T-Mobile/Experian Hack
By 10.8.15
A week after Experian revealed that hackers stole personal information for around 15 million consumers from a database of T-Mobile customers and applicants held by the credit reporting agency, a group of 25 consumer and privacy advocates are demanding that federal regulators open an investigation into the breach.
[More]
