PYMNTS-MonitorEdge-May-2024

FTC

Biden Administration to Announce New Regulations to Tackle Junk Fees
Biden Administration to Announce New Regulations to Tackle Junk Fees
October 11, 2023  |  Regulation

President Joe Biden and the heads of the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) will announce new rules and regulations to crack down on junk fees...

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FTC Says Social Media Most Common Contact Method for Scams
FTC Says Social Media Most Common Contact Method for Scams
October 06, 2023  |  Security & Fraud

Reported losses from scams originating on social media have reached $2.7 billion since 2021. That total has surpassed the losses associated with any other contact method, the Federal...

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Report: Voyager Co-Founder Stephen Ehrlich May Face CFTC Action
Report: Voyager Co-Founder Stephen Ehrlich May Face CFTC Action
October 06, 2023  |  Cryptocurrency

Voyager Digital co-founder Stephen Ehrlich is reportedly facing potential enforcement action from U.S. regulators following investigations into the conduct of the bankrupt crypto lender. Staff in...

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Report: Amazon Accused of Using Secret Algorithm to Raise Prices
Report: Amazon Accused of Using Secret Algorithm to Raise Prices
October 03, 2023  |  Amazon

The Federal Trade Commission (FTC) has reportedly alleged that Amazon used a secret algorithm code-named “Project Nessie” to test the limits of price increases while ensuring competitors would...

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FTC Strengthens Cooperation With Latin American Partners to Fight Fraud
FTC Strengthens Cooperation With Latin American Partners to Fight Fraud
September 29, 2023  |  Fraud Prevention

The Federal Trade Commission (FTC) has partnered with consumer protection authorities from four Latin American countries — Chile, Colombia, Mexico and Peru — to combat cross-border fraud....

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FTC Suit Accuses Amazon of Running Illegal Monopoly
FTC Suit Accuses Amazon of Running Illegal Monopoly
September 26, 2023  |  Amazon

The Federal Trade Commission (FTC) has sued Amazon, charging the retail giant with “illegally [maintaining] its monopoly power.” The antitrust lawsuit, filed Tuesday (Sept. 26)...

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How Transparency and High Earners Power a $96-Billion Subscription Industry 
How Transparency and High Earners Power a $96-Billion Subscription Industry 
September 26, 2023  |  Subscription Commerce

In 2022, the subscription eCommerce market was valued at $96.61 billion, according to ReportLinker. As consumers increasingly embrace subscriptions, the sector is projected to be...

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Report: FTC to Sue Amazon for Antitrust Violations Next Week
Report: FTC to Sue Amazon for Antitrust Violations Next Week
September 22, 2023  |  Amazon

The Federal Trade Commission (FTC) is reportedly expected to file a lawsuit against Amazon for antitrust violations next week. The anticipated antitrust complaint, which will be filed in federal...

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Amazon Cancels Planned Fee for Merchants Not Using Its Shipping Services
Amazon Cancels Planned Fee for Merchants Not Using Its Shipping Services
September 20, 2023  |  Amazon

Amazon has canceled a planned fee on merchants who don’t use its shipping services. The fee, announced in August, was set to take effect Oct....

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