FDIC CONSUMER NEWS | DECEMBER 11, 2023
FDIC Consumer News – December 2023 Edition
Older Adults Helping Relatives Through Financial Support
Be empowered to give safely and avoid scams
Many older adults who are financially established give financial help to relatives
The Federal Trade Commission has obtained proposed orders against the operators of a wide-ranging scheme known as “The Sales Mentor” that made millions by falsely promising consumers that they could make big money from telemarketing sales
The Federal Trade Commission is taking action against Florida-based EXOTOUSA LLC
The Federal Trade Commission is launching a claims process for consumers harmed by Credit Karma’s practice of misrepresenting that consumers were “pre-approved” for credit card offers
The Federal Trade Commission will hold a virtual informal hearing on January 16, 2024, on the proposed amendments to the Negative Option Rule
The CFPB has submitted input on a proposal by the California Department of Financial Protection and Innovation explaining states’ critical role in oversight of providers of consumer financial products and services
The CFPB Ombudsman’s Office shares its FY2023 Annual Report
The Federal Trade Commission is sending more than $3 million in refunds to businesses that paid for memberships to HomeAdvisor, Inc
The Federal Trade Commission has approved an omnibus resolution authorizing the use of compulsory process in nonpublic investigations involving products and services that use or claim to be produced using artificial intelligence (AI) or claim to detect its use
California-based CRI Genetics, LLC (CRI) will pay a $700,000 civil penalty and will be barred from a wide range of deceptive practices to settle charges from the Federal Trade Commission and the California Attorney General that the company deceived users about the accuracy of its DNA reports
