FTC

FTC Releases 2023 Privacy and Data Security Update

Retrieved on: 
Tuesday, April 2, 2024
Online, GoodRx, Consumer, Global Tel Link, Employment, Consumer protection, Algorithm, Rite Aid, Amazon Alexa, School, Epic Games, Social media, Tenant, Policy, Blog, News, AI, Fortnite, Consumer Financial Protection Bureau, Privacy, Insurance, Commission, CafePress, Housing, BetterHelp, Intelligence, Machine learning, COPPA, TransUnion, Edmodo, Collection, Parent, Advertising, FCRA, Federal Trade Commission, FTC, Cryptocurrency
Key Points: 

FTC Sends $2.8 Million in Refunds to Consumers Harmed by DK Automation’s Phony Online Business and Crypto Moneymaking Schemes

Retrieved on: 
Tuesday, April 2, 2024
Name, Federal Trade Commission, PayPal, Commission, Automation, Marketing, Social media, Blog, News, Deception, Amazon, FTC

They sold their programs under a number of different names, including AMZDFY, Amazon Done For You, and Amazon Done With You.

Key Points: 
  • They sold their programs under a number of different names, including AMZDFY, Amazon Done For You, and Amazon Done With You.
  • The Commission’s interactive dashboards for refund data provide a state-by-state breakdown of refunds in FTC cases.
  • In 2023, FTC actions led to $324 million in refunds to consumers across the country.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

FTC and DOJ File Statement of Interest in Hotel Room Algorithmic Price-Fixing Case

Retrieved on: 
Tuesday, April 2, 2024
Caesars Entertainment, Risk, Commission, Sherman Antitrust Act, Algorithm, Meat, Social media, Blog, News, Justice, Federal Trade Commission, FTC

The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.

Key Points: 
  • The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.
  • The agencies recently filed a statement of interest in an algorithmic price-fixing case in the residential housing market, and the Justice Department’s Antitrust Division filed a statement of interest and memorandum of law in another real estate algorithmic price-fixing case last year.
  • The Commission vote approving the filing of the statement of interest was 3-0-1, with Commissioner Holyoak not participating.
  • For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

FTC Denies Application for New Parental Consent Mechanism Under COPPA

Retrieved on: 
Tuesday, April 2, 2024
Online, Prejudice, Social media, Blog, News, Child, Commission, Parental consent, Federal Trade Commission, FTC

The Federal Trade Commission has denied an application, without prejudice, by the Entertainment Software Rating Board, Yoti, and SuperAwesome for Commission approval of a new mechanism for obtaining parental consent under the Children’s Online Privacy Protection Rule (COPPA Rule).

Key Points: 
  • The Federal Trade Commission has denied an application, without prejudice, by the Entertainment Software Rating Board, Yoti, and SuperAwesome for Commission approval of a new mechanism for obtaining parental consent under the Children’s Online Privacy Protection Rule (COPPA Rule).
  • The rule lays out a number of acceptable methods for gaining parental consent but also includes a provision allowing interested parties to submit new verifiable parental consent methods to the Commission for approval.
  • In declining the application at this time, the Commission is taking no position on the merits of the application.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

FTC, HHS Extend Public Comment Period on Generic Drug Shortages and Competition Request for Information

Retrieved on: 
Tuesday, April 2, 2024
System, Request for information, Social media, RFI, Comment, HHS, Policy, Blog, News, Federal Trade Commission, FTC

The Federal Trade Commission and the U.S. Department of Health and Human Services (HHS) are extending the deadline for the public to comment on a joint Request for Information (RFI) that seeks to understand how the practices of group purchasing organizations (GPOs) and drug wholesalers may be contributing to generic drug shortages.

Key Points: 
  • The Federal Trade Commission and the U.S. Department of Health and Human Services (HHS) are extending the deadline for the public to comment on a joint Request for Information (RFI) that seeks to understand how the practices of group purchasing organizations (GPOs) and drug wholesalers may be contributing to generic drug shortages.
  • In the RFI, the FTC and HHS are seeking public comment regarding market concentration among large health care GPOs and drug wholesalers, as well as information detailing their contracting practices.
  • The comment period was originally set to end on April 15, 2024.
  • The Federal Trade Commission develops policy initiatives on issues that affect competition, consumers, and the U.S. economy.

FTC To Convene Advisory Group to Fight Scams Against Older Adults April 2

Retrieved on: 
Tuesday, April 2, 2024
Consumer protection, Research, Social media, Blog, News, Federal Trade Commission, FTC

|WHAT:||The Federal Trade Commission will host an online meeting of the Scams Against Older Adults Advisory Group on April 2, 2024.

Key Points: 
  • |WHAT:||The Federal Trade Commission will host an online meeting of the Scams Against Older Adults Advisory Group on April 2, 2024.
  • The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize.
  • Learn more about consumer topics at consumer.ftc.gov, or report fraud, scams, and bad business practices at ReportFraud.ftc.gov.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

FTC Announces Impersonation Rule Goes into Effect Today

Retrieved on: 
Tuesday, April 2, 2024
Bank, Government, Social media, Blog, News, Federal Trade Commission, FTC, Cryptocurrency

As the Federal Trade Commission’s new rule on government and business impersonation goes into effect today, the agency is highlighting new data on the most common ways consumers are targeted by these treacherous scams.

Key Points: 
  • As the Federal Trade Commission’s new rule on government and business impersonation goes into effect today, the agency is highlighting new data on the most common ways consumers are targeted by these treacherous scams.
  • Combined, reported losses to these impersonation scams topped $1.1 billion for the year, more than three times what consumers reported in 2020.
  • Today marks the effective date of the FTC’s new rule on government and business impersonation, which was finalized last month.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

Semiconductor Chips & Cloud Computing: A Quote Book

Retrieved on: 
Tuesday, April 2, 2024
Cloud, Failure, Arm, Tania, Knowledge, History, Policy, Ofcom, Acquisition, AI, Nvidia, Graphics processing unit, Cloud computing, Fed, Ecosystem, FTC, Video game

Semiconductor Chips & Cloud Computing: A Quote BookToday, we publish the first in a three-part series of “Quote Books” summarizing each of the three panels.

Key Points: 

Semiconductor Chips & Cloud Computing: A Quote Book

  • Today, we publish the first in a three-part series of “Quote Books” summarizing each of the three panels.
  • This first quote book is focused on hardware and infrastructure, including semiconductor chips and cloud computing.
  • The voices of everyday Americans can sometimes be lost in discussions involving dense technical, policy, or legal language.
  • While the benefits or risks of new technologies are being debated by policymakers, these individuals experience the effects of innovation in real-time.
  • The goal of the “Quote Book” solely aims to reflect and compile quotes from the participants aggregated into common themes.
  • “At the chips layer, there's one company that is predominant in designing the most advanced chips.
  • The agency has an existing track record on semiconductor chips and cloud computing.  [Semiconductor chips] As Chair Khan explained in her recent remarks, “One of the first merger lawsuits we filed after I joined the agency blocked Nvidia’s attempted acquisition of Arm[3]—which would have been the largest semiconductor chip merger in history.
  • It becomes a bimodal distribution whether we want it to or not,” said Corey Quinn, Chief Cloud Economist at The Duckbill Group.

FTC Challenges Kroger’s Acquisition of Albertsons

Retrieved on: 
Tuesday, April 2, 2024
Employment, Negotiation, Albertsons, District court, QFC, Consumer, C&S, Haggen, Pharmacy, Social media, C&S Wholesale Grocers, Blog, News, Acquisition, Safeway, Jewel-Osco, Kroger, Commission, Pavilion, UFCW, CBA, Lawyer, Competition, Attorney, Hearing, Federal Trade Commission, Supermarket, FTC, Retail

For thousands of grocery store workers, Kroger’s proposed acquisition of Albertsons would immediately erase aggressive competition for workers, threatening the ability of employees to secure higher wages, better benefits, and improved working conditions.

Key Points: 
  • For thousands of grocery store workers, Kroger’s proposed acquisition of Albertsons would immediately erase aggressive competition for workers, threatening the ability of employees to secure higher wages, better benefits, and improved working conditions.
  • “This supermarket mega merger comes as American consumers have seen the cost of groceries rise steadily over the past few years.
  • Kroger’s acquisition of Albertsons would lead to additional grocery price hikes for everyday goods, further exacerbating the financial strain consumers across the country face today,” said Henry Liu, Director of the FTC’s Bureau of Competition.
  • A bipartisan group of nine attorneys general is joining the FTC’s federal court complaint.
  • Albertsons also operates thousands of stores across 35 states under regional names including Albertsons, Haggen, Jewel-Osco, Pavilions, Safeway, and Vons.
  • Harm to Consumers In addition to raising grocery prices, the FTC alleges that Kroger’s acquisition of Albertsons would also diminish their incentive to compete on quality.

FTC Releases Agenda for Virtual Workshop on Private Equity in Health Care

Retrieved on: 
Tuesday, April 2, 2024
Capital, Private equity, Assistant, Social media, Policy, Blog, News, DOJ, Medicare, Federal Trade Commission, FTC

The Federal Trade Commission has released the agenda for Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care, a virtual workshop on March 5, 2024, examining the role of private equity investment in health care markets.

Key Points: 
  • The Federal Trade Commission has released the agenda for Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care, a virtual workshop on March 5, 2024, examining the role of private equity investment in health care markets.
  • The event will examine private equity’s impact on health care and include a presentation and several panel discussions featuring government officials, academics, economists, practitioners, and members of the public.
  • The workshop will be livestreamed on the FTC’s website and will take place from 12:30 p.m. to 4:00 p.m.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.