BOSTON — Attorney General Andrea Joy Campbell has announced that her office has proposed regulations to prohibit hidden “junk fees,” which companies use to deceptively hike prices on consumers above advertised prices. The proposed regulations would require businesses to clearly disclose the total price of a product at the time it is presented to consumers, provide clear and accessible information on whether fees are optional or required, and simplify the process for cancelling trial offers and recurring charges, amongst other rules.
Recently, the White House announced some initiatives the Administration is undertaking to improve the lives of the military and veteran communities. The FTC participates in several of these efforts, including the VSAFE task force that’s working to help veterans and their families avoid scams and other deceptive practices.
Well, it’s another month with sort of weird results. Somewhat bucking long term trends, FDCPA (+14.7%) suits were up in October while TCPA (-17.3%) and FCRA (-7.8%) were both down. YTD however, TCPA (+11.5%) was the only one up from last year, while FDCPA (-13.4%) and FCRA (-2.1%) were trending downward.
WASHINGTON — Reports from 4,614 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reflect aggregate net income of $68.4 billion in third quarter 2023, down $2.4 billion (3.4 percent) from the prior quarter. First and second quarter income benefitted from non-recurring gains from the accounting treatment for the acquisition of the three large bank failures this spring.
As part of its focus on protecting consumers from illegal telephone calls and text messages, the Federal Communications Commission approved a Notice of Inquiry (PDF) to better understand the impact of artificial intelligence (AI) technologies.
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