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FDIC CONSUMER NEWS | JULY 8, 2024

FDIC CONSUMER NEWS – JULY 2024 EDITION
Is Your Bank Branch Relocating or Closing?
Know Your Options
Is your bank branch closing, perhaps relocating, or maybe your bank is merging with another bank? You may need to decide whether the upcoming change will still meet your banking needs

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Federal Trade Commission staff sent warning letters to eight companies about their warranty practices that may be standing in the way of consumers’ right to repair products they have purchased

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The Federal Trade Commission is taking action against gig work company Arise Virtual Solutions for misleading consumers about the money they could make on Arise’s platform and marketing its business opportunity without complying with the FTC’s Business Opportunity Rule, including the requirement to truthfully disclose the basis for earnings claims to consumers

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The Federal Trade Commission has taken action against online used car dealer Vroom for misrepresenting that it thoroughly examined all vehicles before listing them for sale and failing to obtain consumers’ consent to shipment delays or provide prompt refunds when cars weren’t delivered in the time Vroom promised

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In its first case under the Impersonation Rule, the Federal Trade Commission has stopped a student loan debt relief scheme that bilked more than $20

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CFPB’s HMDA enforcement cases and research focus on ensuring financial institutions comply with HMDA and Regulation C’s requirement to report complete and accurate mortgage lending information

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The Federal Trade Commission has finalized an order banning software provider Avast from selling, disclosing, or licensing any web browsing data for advertising purposes to settle charges the company and its subsidiaries sold such information after promising that its products would protect consumers from online tracking

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Concluding a comprehensive multi-year review, the Federal Trade Commission today announced final updates to its Ophthalmic Practice Rules, known as the Eyeglass Rule aimed at promoting competition and consumer choice

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The CFPB releases its Fair Lending Annual Report to Congress, describing its fair lending activities in enforcement and supervision; guidance and rulemaking; interagency coordination; and outreach and education for calendar year 2023

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