Looking forward to a long and productive relationship

Last Friday, the FTC and the Consumer Financial Protection Bureau signed a memorandum of understanding outlining how the agencies will work together.  The CFPB — born out of the recent financial system overhaul — and the FTC now share responsibility for protecting consumers in the non-bank financial sector.

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Clearing out our IN box

We’re glad you’re visiting the BCP Business Center and thanks for your questions. Here are answers to some of your AQs. (Calling them FAQs on a site devoted to truth in advertising doesn’t seem quite right.)

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Payment processor pays the price for unauthorized debits

It may be tempting for a payment processor to look the other way about a client’s business practices, figuring it’s the merchant’s job to get proper consumer authorization for charges submitted for processing.  But donning blinders can lead to regrettable results, as an FTC action against a payment processor shows.

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Dollars to donuts

When consumers comparison shop, cost is crucial.  That’s why it’s so important for companies to make sure what they say about their prices is accurate.  If businesses need a timely reminder, the FTC’s proposed $5 million settlement with CVS Caremark drives that point home.

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Collection and protection

The terms of an FTC settlement apply just to that business, of course. But clued-in companies know there’s a lot that can be learned from someone else’s alleged misstep. The FTC’s law enforcement action against Upromise is no exception.

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