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U.S. Federal Trade Commission

Internet firms cool to FTC privacy report

Fri, 03/12/2010 - 01:05 by Prince damin

Washington -- Internet companies gave a cool reception to the U.S. Federal Trade Commission's guidelines on consumer tracking Thursday.

The FTC released a 79-page report Wednesday advocating for Internet firms to give consumers clear options on how to opt out of having personal data, such as online browsing habits, monitored and analyzed by businesses, The New York Times reported.

Much of the tracking is done to allow advertisers to hone in on individual consumer interests.

FTC backs consumer choices on data

Thu, 02/12/2010 - 10:09 by Prince damin

Washington -- The U.S. Federal Trade Commission said Wednesday that Internet users should be given clearer choices about personal information that businesses collect.

In an 80-page report spelling out guidelines applicable to businesses and lawmakers, the FTC said "Industry must do better" in protection of privacy, which should be "a basic consideration."

The commission said commercial interests should build "privacy by design" into their business practices. The widely anticipated report, "Protecting Consumer Privacy in an Era of Rapid Change," also proposed consumers be given "a simpler, more streamlined way" to give consumers choices about what information is collected.

FTC ends Google investigation

Thu, 28/10/2010 - 07:47 by Prince damin

Washington -- The U.S. Federal Trade Commission said Wednesday it is ending its investigation of Google's inadvertent gathering of WiFi data via its "Street View" program.

The FTC sent a letter to a Google attorney Wednesday indicating the inquiry into the data-collection controversy is closed, InformationWeek reported.

In May, Google made public the fact the Internet giant had gathered private data, including passwords, over individuals' WiFi networks as its "Street View" cars passed by.

FTC Bureau of Consumer Protection Director David Vladek said Google's admission of its mistake, changes to internal controls and the measures it has taken to safely dispose of the data are sufficient to conclude the investigation.

Debt-settlement firms face new rules

Fri, 30/07/2010 - 22:49 by Inderjit Singh

Washington -- The U.S. Federal Trade Commission said companies helping consumers dig out of debt would be barred in the future from accepting payment in advance.

FTC Chairman Jon Leibowitz said the industry employed "a business model based on deceit."

The rule change applies to for-profit debt-relief firms and goes into effect Oct. 27, The Washington Post reported Friday.

A month before that, on Sept. 27, debt relief companies must be up-front about the cost of their debt-reduction services and offer consumers an estimate on how long it will take to benefit from the program.

MoneyGram settles wire transfer fraud case

Thu, 22/10/2009 - 02:59 by surajdogra

Washington -- The U.S. Federal Trade Commission said MoneyGram International agreed to pay $18 million to settle claims it turned a blind eye to fraudulent money transfers.

The settlement includes an agreement for the company to fire or suspend its agents who do not make enough of an effort to ferret out and stop fraudulent transfer requests, the St. Louis Post-Dispatch reported Wednesday.

The FTC said more than 14,000 consumers filed complaints in 2008 about fraudulent requests for money using wire transfer companies, a favored method for scam artists as the source of the request is often untraceable.

Moneygram settles wire transfer fraud case

Thu, 22/10/2009 - 00:08 by surajdogra

Washington -- The U.S. Federal Trade Commission said MoneyGram International agreed to pay $18 million to settle claims it turned a blind eye to fraudulent money transfers.

The settlement includes an agreement for the company to fire or suspend its agents who do not make enough of an effort to ferret out and stop fraudulent transfer requests, the St. Louis Post-Dispatch reported Wednesday.

The FTC said more than 14,000 consumers filed complaints in 2008 about fraudulent requests for money using wire transfer companies, a favored method for scam artists as the source of the request is often untraceable.

FTC tries to block device-maker's purchase

Fri, 31/07/2009 - 03:32 by surajdogra

Washington -- The U.S. Federal Trade Commission is seeking to block a cardiac device-maker's proposed $282 million acquisition plans.

Cardiac device-maker Thoratec Corp., of Pleasanton, Calif., is trying to acquire outstanding shares of HeartWare International, based in Framingham, Mass. The FTC has filed an administrative complaint in federal district court seeking to permanently stop the acquisition, announced in February, ModernHealthcare.com reported Thursday.

FTC officials said Thoratec is the only device-maker with a Food and Drug Administration-approved left-ventricular device on the market, and acquiring HeartWare, which has a competing device positioned for approval, would prevent price and quality competition.