If you or your clients accept payment by credit or debit card, mark October 1st on your calendar. That’s the day new rules go into effect that could help lower your costs. The rules, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, cover four areas that could affect the day-to-day operation of your business.
The FTC’s settlement with Reebok requires the company to get their ad claims in shape and works out a $25 million refund program for people who bought EasyTone and RunTone shoes and apparel. Of course, the terms of the lawsuit apply only to Reebok, but experienced advertisers understand the benefits of mining FTC orders for compliance nuggets applicable to their business.
Shape up your substantiation or tone down your ads. That’s the message marketers should take from the FTC’s $25 million settlement with Reebok for false and unsubstantiated claims for the company’s EasyTone and RunTone toning shoes.
If necessity is the mother of invention, bogus invention promotion companies are the sketchy brothers-in-law. That’s why inventors who think they may have that Next Big Thing should investigate thoroughly before signing on with a firm that promises to evaluate, patent, and market an innovation. Some make pie-in-the-sky promises, but serve up crumbs.
According to the Consumer Services Protection Commission’s website, it’s a “National consumer protection agency and works For the Consumer to help avoid fraud, deception, and/or unfair business practices in the financial assistance marketplace.” The site went on to talk about the agency’s role in enforcing the law and educating consumers about how to “spot and avoid fraud and deception.” On the right was a blue and gold logo with the scales of justice and the winged wheel of commerce.