If you’re in the financial field, chances are you’re familiar with the FACT Act (sometimes called FACTA by friends and family). It’s the Fair and Accurate Credit Transactions Act, which amended portions of the Fair Credit Reporting Act. Research just released by the FTC puts the word “accurate” under the microscope.
Some factoids of interest from the Report to Congress.
No, not the cherubic child star on reality TV. We’re talking about the serious repercussions of American Tax Relief's misleading claims about substantially reducing what consumers owed in taxes — and major mistakes some businesses make when it comes to the financial consequences of deception. A look at the settlement offers insights into the breadth of remedies available for violations of the FTC Act and related rules.
To Rat Pack types, "Just in Time" was a swingin' tune Dean Martin sang in the old musical "Bells Are Ringing." It's still relevant to ringing bells, but now it's in the context of smartphones, tablets — and one of several suggestions the FTC is making to mobile platforms, app developers, ad networks, and others about how and when to disclose key privacy-related information to consumers. Are you plugged in to what this could mean for your business?
Before you start marketing your app, let’s go through the TO DO list.
Does it deliver on what you say it can do? Check.
Have you thought through your marketing strategy? Check.
Does it look like app stores might be interested? Check.
Ready? Not so fast. There’s an indispensible step you may be overlooking. But there’s good news: The FTC has 12 tips to make that task easier.
In the few years it’s been up and running, Path has billed itself as a different kind of social network. According to a description of its "Values," "Path should be private by default. Forever. You should always be in control of your information and experience." It’s a lovely sentiment. Except that according to an FTC law enforcement action, it wasn’t private by default. It wasn’t private forever. Users weren’t in control of their information and