We are posting this article by Bill M. Petti, associate attorney at Global Legal Law Firm, online today because time is of the essence for those who want to comment on the FTC’s proposed amendment to the Negative Options Rule:
On April 24, 2023, the Federal Trade Commission published its Advance Notice of Proposed Rule-making in the federal register regarding proposed amendments to the FTC’s Negative Options Rule.
Competition law is a division of law intended to prevent market distortion caused by anti-competitive business practices. Theories of competition law are rooted in basic economic principles and can be traced back as far as Ancient Rome’s Lex Julia de Annona, which prescribed criminal penalties for the manipulation of grocery prices.
The communications industry is on the cusp of a sea change, with the Federal Communications Commission (FCC) looking to make sweeping modifications in the realm of robocalls and robotexts. The FCC recently unveiled a Notice of Proposed Rulemaking during a meeting held on June 8, 2023. This pivotal step signals the Commission’s aim to amplify consumer control over their telecommunication consent, and simultaneously strengthen the established guidelines under the Telephone Consumer Protection Act (TCPA) related to “prior express consent”.
The Consumer Financial Protection Bureau (CFPB), a US regulatory agency, has cautioned banks about the potential drawbacks of using AI chatbots. The agency has stated that if the technology is not properly implemented, it may negatively impact customer trust and could even result in legal violations.
In the bustling world of commerce, businesses large and small grapple with the cost of credit card acceptance, a factor largely dictated by interchange fees. These are the fees that businesses need to pay each time a customer uses a credit card. It’s a hot-button issue that’s back under the legislative spotlight as Congress reconsiders the Credit Card Credit Card Competition Act (CCCA).
The Consumer Financial Protection Bureau (CFPB) has shed light on the potential risks associated with digital payment apps widely used by consumers and businesses. These apps, such as PayPal, Venmo, and Cash App, offer convenience but may lack the federal deposit insurance coverage typically found in traditional bank and credit union accounts. In response, the CFPB has issued a notice urging consumers to transfer their balances to insured banks and credit unions, ensuring the safety of their funds.
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