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The Latest Breaking News from Federal Trade Commission

The FTC sues Walmart for failing to block scammers' money transfers

The Federal Trade Commission says Walmart didn't properly train its employees and used procedures that allowed fraudsters to cash out at its stores, stealing hundreds of millions of dollars.

WEKU

Gas price gouging focus of new ads backing House Democrats

WASHINGTON — Heading into the July Fourth weekend, a policy group supporting House Democrats is launching $1.7 million in new ads calling on the Senate to take up House-passed legislation designed to combat potential gas price gouging.

Tribune News Service

Gas price gouging focus of new ads backing House Democrats - Roll Call

A group supporting House Democrats is launching new ads calling on the Senate to take up legislation to combat potential gas price gouging.

Roll Call

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FTC Sues Walmart For Allowing Scammers Use Money-Transfer Services

The Federal Trade Commission has sued Walmart Inc (NYSE:WMT), alleging that the retail giant allowed its money-transfer services to facilitate fraud. According to the complaint, the company did not properly train its employees, failed to warn customers, and used procedures that allowed fraudsters to cash out at its stores. The financial services offered…

Benzinga

FTC sues Walmart for scammers' use of money transfer unit

The Federal Trade Commission says it has sued Walmart for allowing its money transfer services to be used by scam artists who the agency says fleeced hundreds of millions of dollars from consumers

The Independent UK

Former Washington Player Calls Dan Snyder ‘Poor Excuse’ for Human

Su’a Cravens added, “He’s ruined so many careers and made life difficult for so many that did no wrong. Karma really comes full circle.”

Sports Illustrated

Softbank-Backed Mental Health Startup Cerebral Under FTC Scrutiny: WSJ

The Federal Trade Commission (FTC) has begun investigating mental-health startup Cerebral Inc on its potential engagement in unfair practices related to advertising or marketing of services.

Benzinga

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Conservative bench's new war on federal regulatory agencies

The right is getting ready to rein in regulators' powers just as the Biden administration is starting to flex them.

Axios

Federal regulators probe Cigna’s pharmacy benefit manager, CVS Caremark, and others. What are they investigating?

Express Scripts, the pharmacy benefit manager that Cigna Corp. bought in 2018, is being investigated by the Federal Trade Commission for what regulators claim is influence over drug prices wielded by pharmacy benefit managers and transparent business practices.

Tribune News Service

FTC Says Concerns Around Tesla's Autopilot On Its Radar, Does Not Confirm Or Deny Probe: Report

Tesla Inc’s (NASDAQ: TSLA) full self driving system, known as Autopilot, is a subject of focus and on the Federal Trade Commission's radar, Reuters

Benzinga

FTC Chair Khan plans key work on kids' data privacy online

The head of the Federal Trade Commission says the agency is pushing a robust agenda of actions and policies to help safeguard children’s privacy online

The Independent UK

FTC plans inquiry into pharmacy benefit manager practices

The Federal Trade Commission is starting an inquiry into the operations of pharmacy benefit managers who control access to prescription drugs for millions of Americans

The Independent UK

Here's How People Lost Close To $1B Worth Of Crypto (Mostly Bitcoin) To Scammers

A new report by the Federal Trade Commission suggests that more than 46,000 people reported losing over $1 billion in payment scams involving cryptocurrencies since the start of 2021.

Benzinga

Electronic Arts In Trouble As Activists Bring Gambling Charges Against 'FIFA: Ultimate Team'

Consumer advocates demanded U.S. regulators probe videogame maker Electronic Arts Inc (NASDAQ:EA) for the misleading use of a digital "loot box" that "aggressively" provoked players to splurge while playing a popular soccer game, Reuters reports. Fairplay, Center for Digital Democracy, and 13 other organizations urged the Federal Trade Commission to probe the EA…

Benzinga

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Asharq Al-Awsat

US Hits Twitter with $150 Mn Fine Over Privacy Breach

Twitter agreed to pay $150 million to settle allegations the platform gave advertisers some user information that was supposed to be employed to strengthen account security, US authorities said Wednesday. The Federal Trade Commission and the Department of Justice accused Twitter of taking phone numbers or email addresses provided to…

Benzinga

FDA Allows Import Of 2M Baby Formula Cans Amid Supply Shortage: Reuters

The FDA is easing regulations to allow infant formula imports from Britain, bringing around 2 million cans onto empty shelves by June to ease a nationwide shortage, Reuters reported. The FDA said it was "exercising enforcement discretion" to allow Britain-based Kendal Nutricare to import certain infant formula products under the Kendamil…

Tribune News Service

Senators seek FTC probe of IRS provider ID.me selfie technology

A group of Democratic senators has asked the Federal Trade Commission to investigate whether identity verification company ID.me illegally misled consumers and government agencies over its use of controversial facial recognition software.

360info

How tech rebooted economics and platforms broke the invisible hand

Growing evidence and new research explain the evolution of economic diversity and the need to rethink monopolies in the age of technology.

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Asharq Al-Awsat

Report: Musk’s $44 Bln Buyout of Twitter Faces US Antitrust Review

The US Federal Trade Commission (FTC) is reviewing Tesla Chief Executive Elon Musk's $44 billion takeover of Twitter Inc, Bloomberg News reported on Thursday, citing a person familiar with the deal. The FTC declined to comment, while Musk could not be reached for comment. The agency will decide in the…

The Independent UK

Democrats pitch boosting FTC to curb gas price gouging

Democratic leaders have announced an effort to give the Federal Trade Commission increased authority to crack down on oil and gas companies that engage in price gouging

Sports Illustrated

NFL Releases Statement About Commanders’ Potential Financial Misconduct

Lawmakers sent a letter to the Federal Trade Commission concerning the financial conduct of the Commanders and Dan Snyder.

Sports Illustrated

Congress Says Commanders May Have Misappropriated Fans’ Money, Misrepresented Revenue

The Committee of Oversight and Reform sent the Federal Trade Commission an explosive letter detailing its new findings into Washington.

The Independent UK

Congress tells FTC Commanders may have broken financial laws

The U.S. House Oversight Committee sent a letter to the Federal Trade Commission saying it found evidence the NFL's Washington Commanders engaged in unlawful financial conduct

The Independent UK

Walmart, Kohl's settle over 'eco-friendly' rayon products

Walmart and Kohl’s are paying a combined $5.5 million in settlements after he Federal Trade Commission said the retailers falsely marketed dozens of sheets and other home textile products as made of environmentally friendly bamboo

Benzinga

Merger Arbitrage Mondays - Nielsen Holdings To Be Taken Private By A Consortium Of Private Equity Firms

Merger activity increased significantly last week with six new deals announced and eight deals completed. There were 17 deals announced in the month of March, with a total value of $64.55 billion. Nielsen Holdings (NYSE: NLSN)

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