Federal Trade Commission
U.S. Government: Agencies/Departments/Divisions | Federal Agencies
Recent News About Federal Trade Commission
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The Federal Trade Commission (FTC) will be hosting an online compliance webinar on May 14, 2024, at 11 a.m. ET to discuss the final rule banning noncompetes. According to the FTC, the rule prohibits the use of noncompetes for the majority of workers nationwide, with exceptions for existing noncompetes involving senior executives.The FTC's final rule states, "Employers are banned from entering into or attempting to enforce any new noncompetes, even if they involve senior executives." However, existing noncompetes for senior executives can still be enforced. Employers must...
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The Federal Trade Commission has taken action to address antitrust concerns related to Exxon Mobil Corporation’s acquisition of oil producer Pioneer Natural Resources by preventing former Pioneer CEO Scott Sheffield from joining Exxon's board of directors or serving in an advisory role at the company. The move aims to safeguard competition in the oil market and protect consumers from potential price manipulation.In a statement, Kyle Mach, Deputy Director of the FTC’s Bureau of Competition, emphasized the necessity of barring Sheffield from Exxon's board, stating, “Mr....
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The Federal Trade Commission (FTC), the Department of Justice’s (DOJ) Antitrust Division, and the U.S. Department of Health and Human Services (HHS) have announced an extension of the deadline for public comments on a tri-agency Request for Information (RFI) regarding the impact of corporate greed in health care. The new deadline for submissions is now June 5, 2024.According to the announcement, the cross-government inquiry aims to delve into how certain health care market transactions could lead to increased consolidation and profits for corporations while potentially...
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The Federal Trade Commission has taken decisive action against digital marketing and data aggregator InMarket, finalizing a settlement that prohibits the company from selling or sharing precise location data. This move follows allegations of unlawful collection and use of consumers' location data for advertising and marketing purposes.According to the FTC, InMarket was found to have collected location information about consumers without fully informing them of how it would be used. This data, which includes sensitive details about where individuals live, work, and...
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The Federal Trade Commission (FTC) has taken action against Aqua Finance, Inc. (AFI), resulting in a settlement that will provide significant financial relief to consumers affected by deceptive sales tactics. The settlement includes $20 million in refunds and $23.6 million in debt forgiveness for consumers harmed by AFI's misleading financing practices.According to Samuel Levine, Director of the FTC’s Bureau of Consumer Protection, AFI and its dealers employed deceptive tactics, including the use of misleading teaser rates, to entice consumers into signing up for loans,...
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The Federal Trade Commission is taking action against payment processing company BlueSnap, Inc., along with its former CEO Ralph Dangelmaier and senior vice president Terry Monteith, charging them with knowingly processing payments for deceptive and fraudulent companies. “Companies like BlueSnap that knowingly process payments for scammers are breaking the law and making it easier to cheat consumers,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection.The FTC charged that BlueSnap and its officers processed millions of dollars in credit card...
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The Federal Trade Commission (FTC) has expanded its efforts to combat the improper listing of patents in the Food and Drug Administration’s Orange Book, targeting over 300 questionable listings for diabetes, weight loss, asthma, and COPD drugs. One of the drugs under scrutiny is Novo Nordisk Inc.’s popular weight-loss medication, Ozempic.FTC Chair Lina M. Khan emphasized the negative impact of bogus patent listings on drug prices, stating, “By filing bogus patent listings, pharma companies block competition and inflate the cost of prescription drugs, forcing Americans to...
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The Federal Trade Commission (FTC) and the Federal Communications Commission (FCC) have solidified their collaboration on consumer protection matters through the signing of a Memorandum of Understanding (MOU). In response to the FCC's recent decision to restore net neutrality, the agencies aim to work closely together in safeguarding consumers.FTC Chair Lina M. Khan emphasized the importance of the partnership, stating, "The FTC is squarely focused on protecting Americans from illegal business tactics... We look forward to continuing to work in close partnership with the...
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The Federal Trade Commission announced today that Razer, Inc., the sellers of the Zephyr face mask, will pay over $1.1 million to provide full refunds to consumers nationwide and a civil penalty for misrepresenting the performance and efficacy of the supposed "N95-grade" masks. The complaint alleged that Razer falsely marketed the Zephyr masks as N95-grade without submitting them for testing to the FDA or NIOSH, leading to the deceptive claims being halted only after negative press coverage and consumer outrage."These businesses falsely claimed, in the midst of a global...
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The Federal Trade Commission (FTC) has recently publicized its 2023 Report on Ethanol Market Concentration, following a unanimous vote of 3-0 in favor of the report's approval. This report forms part of an annual review process mandated by the Energy Policy Act of 2005, aimed at scrutinizing the state of competition within the ethanol production industry in America.