FTC

Debt-strapped consumers would get relief from unscrupulous industry practices

November 3, 2009 -- Consumer Federation of America (CFA) and 18 other consumer organizations filed joint comments with the Federal Trade Commission (FTC) supporting amendments to the Telemarketing Sales Rule that would protect debt-strapped consumers from unscrupulous practices by companies that offer to arrange payment plans with their creditors, get their interest rates or fees reduced, or settle their debts for pennies on the dollar.

In their comments, the consumer groups agreed with the FTC that some debt relief companies mislead consumers about the results they can expect and the impact that such services can have on their credit.    » read more »

Washington, Oct 7 - Congressman Dennis Kucinich (D-OH) today sent a letter requesting the Federal Trade Commission (FTC) to conduct an investigation of the potentially unfair and anti-competitive forced sale of light bulbs by FirstEnergy to their customers in Northern Ohio. Kucinich also requested the FTC examine the issue of FirstEnergy’s plan to charge a fee for the energy that was not used by the consumer because they installed the light bulbs.

The full text of the letter follows:

October 7, 2009

Mr. Jon Leibowitz
Chairman
Federal Trade Commission
600 Pennsylvania Avenue NW
Washington, DC 20580

Re: The need for an FTC investigation of FirstEnergy’s unfair and anti- competitive forced sale of 3.75 million light bulbs at excessive prices    » read more »

September 17, 2009 -- WASHINGTON – This morning, Treasury Secretary Tim Geithner hosted Attorney General Eric Holder, Housing and Urban Development (HUD) Secretary Shaun Donovan, Federal Trade Commission (FTC) Chairman Jon Leibowitz, Financial Crimes Enforcement Network (FinCEN) Director Jim Freis and attorneys general from 12 states to discuss emerging trends and proactive strategies to combat fraud against consumers in the housing markets as well as best practices to bolster coordination across state and federal agencies.

This meeting follows up on an announcement by the Obama Administration in April of a multi-agency crackdown on foreclosure rescue scams and loan modification fraud designed to protect homeowners from predatory financial practices.    » read more »

Civil Enforcement Cases, State Enforcement Actions, Alert to Financial Institutions Among New Efforts to Protect American Homeowners Seeking Relief

WASHINGTON, DC, April 6, 2009 -- As homeowners and communities throughout the country continue to face devastating consequences from the deep contraction in the economy and the housing market, the Obama Administration today announced a new coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.    » read more »

February 27, 2009 -- WASHINGTON – Today, President Obama announced his intent to nominate the following individuals for key administration posts: Jon Leibowitz, Chairman of the Federal Trade Commission; Charlie Rose, General Counsel at the Department of Education; and Roy Keinitz, Under Secretary for Policy at the Department of Transportation.

President Obama said, "It gives me great confidence to announce the addition of such distinguished individuals to my administration, and I am grateful that they will be dedicating their considerable talents to serving the American people. I look forward to working with each of them as we steer America toward a new era of prosperity and security."

President Obama announced his intent to nominate the follow individuals today:    » read more »

June 17, 2008 -- WASHINGTON, D.C. - United States Senator Dick Durbin (D-IL) released the following statement today, after hearing the testimony of Walter Lukken, Chairman of the Commodity Futures Trading Commission’s (CFTC), before a joint hearing of Durbin’s Appropriations Subcommittee on Financial Services and General Government and the Senate Agriculture Committee.

“Increasing evidence shows that the run-up in crude oil prices and gasoline is being driven by larger trader banks, pension and hedge funds. Speculation may have as much, if not more, to do with high gas prices than any Saudi Sheik."    » read more »

Sends Letter to FTC Chairman about potential price gouging

June 17, 2008 -- WASHINGTON, DC - At a time when Pennsylvanians are faced with skyrocketing gas prices, U.S. Senator Bob Casey (D-PA) today sent a letter to William Kovacic, Chairman of the Federal Trade Commission (FTC) regarding the potential of price gouging and price manipulation.

“I hope that you and I can work together to give the FTC the tools it needs to investigate and help prosecute companies that are adopting questionable business strategies,” Senator Casey wrote. “The Unites States Congress and the FTC have an obligation to provide consumers with the assurance that whatever price they are paying at the pump, they can be certain they aren't being taken for a ride.”    » read more »

June 16, 2008 -- JEFFERSON CITY – Missouri Governor Matt Blunt today requested the Federal Trade Commission (FTC) review the proposed sale of Anheuser-Busch to InBev to determine if it would prevent free competition by creating a near monopoly in the beer beverage market.

A Budweiser bottling plant: Photo by Todd J (CC)    » read more »

May 22, 2008 -- OLYMPIA – Washington Governor Chris Gregoire today issued the following statement urging the Federal Trade Commission (FTC) to investigate oil and petroleum markets:

“Today I sent a letter to the FTC urging them to quickly and aggressively investigate possible market manipulation in the petroleum markets. I reminded FTC Chairman William Kovacic and his fellow commission colleagues that Congress just last year gave the FTC authority to ensure that the U.S. petroleum market is free from price rigging and to penalize those who are caught manipulating a market so critical to our economy.    » read more »

National operation includes more than 180 actions against instances of telemarketing fraud

May 20, 2008 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum, Florida Agriculture and Consumer Services Commissioner Charles H. Bronson, the Federal Trade Commission (FTC), and a series of Florida partners today announced the results of a national telemarketing fraud sweep, including several actions taken throughout Florida over the past few months.    » read more »

May 14, 2008 -- WASHINGTON, DC – At the urging of United States Senator Dick Durbin (D-IL), the Federal Trade Commission (FTC) today agreed to launch an inquiry into the record high fuel prices facing American consumers. The commission, which is responsible for investigating consumer protection and competition issues in broad sectors of the economy, announced the investigation at their annual budget hearing before the Senate Appropriations Financial Services and General Government Subcommittee, which Durbin chairs.    » read more »

May 6, 2008 -- WASHINGTON, DC -- With energy prices continuing to reach record highs, U.S. Senators Jack Reed (D-RI) and Carl Levin (D-MI) sent a letter to President Bush requesting the creation of a new federal task force to investigate whether speculators are driving up prices in energy commodity markets through manipulative or deceptive practices.

Oil drums: Photo by tripletrouble (CC)    » read more »

January 28, 2008 - Vermont Attorney General William H. Sorrell announced today that he and nine other state attorneys general have written to the Federal Trade Commission to ask that the FTC develop guidelines for businesses that sell carbon emission offset credits. The request came in a letter from the Offices of the Vermont and California Attorneys General on behalf of themselves and their counterparts in Arkansas, Connecticut, Delaware, Illinois, Maine, Mississippi, New Hampshire and Oklahoma.    » read more »

January 25, 2008 -- WASHINGTON DC – Citing the potential “to manipulate the system,” California Attorney General Edmund G. Brown Jr. today recommended that the Federal Trade Commission sharpen its guidelines for businesses that sell carbon emission offset credits.    » read more »

New legislation would give FTC double the resources to enforce and research truth-in-advertising related to mortgages

December 12, 2007 -- WASHINGTON – With millions of Americans stuck in subprime mortgages and many having been lured by misleading advertisements, U.S. Senator Bob Menendez (D-NJ) today introduced legislation that would aid the Federal Trade Commission in cracking down on these ads.    » read more »