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The Latest Breaking News from FTC

Trump Administration's Position on President's Power to Remove Commission Members

From the letter sent yesterday to Senator Richard Durbin (the ranking minority member on the Senate Judiciary Committee) by Acting… The post Trump Administration's Position on President's Power to Remove Commission Members appeared first on Reason.com.

Reason

FBI Warns Americans To Ignore 'Outstanding Toll Bill' Texts From Alleged Chinese Cybercriminals

FBI warns of smishing texts claiming unpaid tolls, likely from Chinese cybercriminals. These scams aim to steal money and data via malicious links.

International Business Times UK

Millions of phone location records feared leaked as one of the biggest data leaks ever may be a whole lot worse

The geo-location information of tens of millions of smartphones have been leaked, a fresh lawsuit alleges.

TechRadar

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US health department condemns private equity firms for role in declining healthcare access

Government report says private equity investment in nursing homes led to 11% increase in patient deaths

The Guardian - US

Short Circuit: A Roundup of Recent Federal Court Decisions

Right whales, premium cigars, and tax evasion.

Reason

Biden's Antitrust Crackdown Stifled Innovation

Antitrust scrutiny of startup acquisitions led to fewer deals and less venture capital funding.

Reason

Renters need to watch out for hidden junk fees

The FTC and the State of Colorado recently sued a prominent property management company, alleging hidden fees added on top of the publicly advertised monthly rent.

Fortune

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The Feds Just Sued a Major OEM Over Right to Repair, Is It A Big Deal?

If you're a DIY enthusiast, then chances are excellent that you know exactly how satisfying it is to successfully do things yourself. Whether it's repairing a small electronic device yourself, soldering a circuit board, or even changing out a faucet in your kitchen or bathroom, there's a special sense of…

RideApart

Genshin Impact Gets $20 Million Fine Over Deceptive Game Practices Towards Kids, Teens

Some of the allegations FTC put forward in their report included aggressively marketing the game to minors and obtaining personal data from them.

International Business Times UK

'It's Out of Control': UnitedHealth Group and Peers Charged Americans 1000% More for Drugs

FTC stated that the 'Big 3' PBM organisations collectively generated over £5.94 billion ($7.3 billion) in revenue from 2017 to 2022.

International Business Times UK

Trump's Big Tech turnaround

The scene signaled that the industry Trump once called “dividing and divisive” is now in his good graces

Salon

Trump has promised to 'knock out' pharmacy benefit managers. How the drug middlemen became a $557 billion industry that its customers love to hate

The industry says it keeps down the cost of prescription drugs, but critics say it's profiting at the expense of patients.

Fortune

Pepsi Suffers the Wrath of (Lina) Khan

Outgoing FTC Chair Lina Khan sues Pepsi for violating Robinson-Patman Act.

Reason

'Genshin Impact' Dev Cognosphere Ordered To Pay $20 Million in Relation to FTC Charges

Genshin Impact developer Cognosphere agreed to pay a $20 million settlement with the Federal Trade Commission over a number of charges.

Player One

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The Guardian - US

Lina Khan’s legacy could prove to be fragile as Trump pick takes helm of FTC

Outgoing agency head was a determined antitrust enforcer during her tenure, but some detractors say she was a bully with unchecked power

Tom’s Hardware

The FTC is concerned about Big Tech-AI startup partnerships — Microsoft-Open AI raises alarms

The FTC warns that multi-billion-dollar partnerships between Big Tech and AI startups could lead to the monopolization of the AI and cloud computing sectors.

PC Gamer

FTC says Genshin Impact 'deceived children' and orders its publisher to pay a $20 million fine and stop selling loot boxes to kids

The FTC says "Genshin Impact deceived children, teens, and other players into spending hundreds of dollars on prizes they stood little chance of winning."

Fortune

SEC enforcement blitz targets 7 financial firms as Biden administration winds down

The SEC disclosed 7 actions against alleged misbehavior with only three days left for the Biden administration.

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Fortune

Caught secretly selling car owners’ driving data, General Motors slapped with a hefty ban by Lina Khan’s FTC

The U.S. carmaker had been harvesting drivers' data that was of particular value for insurers keen on better assessing the risk posed by policyholders.

The Independent UK

US lawsuit accuses Pepsi company of price discrimination that favored Walmart over smaller stores

A lawsuit filed by the Federal Trade Commission alleges that food and beverage maker PepsiCo engaged in illegal price discrimination by giving unfair price advantages to one big-box retailer

Motor1

Feds Ban General Motors from Selling Your Data

The US Federal Trade Commission has banned General Motors from selling sensitive driver data. The agency alleges that the automaker and its OnStar service collected and sold precious geolocation and driving behavior data without obtaining proper consent, and now it can’t sell it to consumer reporting agencies for five years.

Salon

Cash advance apps: The new loan sharks?

The Federal Trade Commission has cracked down on the apps, saying they mislead consumers

Reason

Regulation, Prohibition, and Litigation: Joe Biden's Busy Lame-Duck Period

Why should an unpopular president shape so much policy on his way out?

Fortune

Trump’s impact on M&A: Part chaos, part back-to-business, all action

Bankers see scope for 2025 to unlock the pent-up M&A pipeline

The Independent UK

FTC sues Greystar, saying the property manager used hidden fees to swindle renters out of millions

The U.S. Federal Trade Commission has filed a lawsuit accusing property management company Greystar of swindling renters across the country out of at least $100 million using hidden fees

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