In an 8-1 decision, the U.S. Supreme Court ruled this past Monday in Liu v. SEC that a disgorgement award that does not exceed a wrongdoer’s net profits and is used to compensate victims is “equitable relief” that the SEC can seek in civil actions. At its conference tomorrow, the Supreme Court will be considering
FTC
This week’s podcast: Consumer protection: What’s happening at the FTC (Part II), with special guests from the FTC
By Barbara S. Mishkin on
Posted in FTC, Regulatory and Enforcement
In Part II of our two-part podcast, we discuss the following topics with Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, and Malini Mithal, Associate Director of the FTC’s Division of Financial Practices: recent FTC enforcement and regulatory activity in the areas of data security, privacy, lead generation, and payments; highlights of the…
This week’s podcast: Consumer protection: What’s happening at the FTC (Part I), with special guests from the FTC
By Barbara S. Mishkin on
In Part I of our two-part podcast, we discuss the following topics with Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, and Malini Mithal, Associate Director of the FTC’s Division of Financial Practices: the FTC’s response to COVID-19, important recent FTC enforcement actions and priorities going forward, Director Smith’s recent blog post on…
Aggressive FTC enforcement agenda highlighted in Ballard Spahr webinar
By Barbara S. Mishkin on
For our webinar last Thursday, “Consumer Protection: What’s Happening at the FTC,” we were joined by special guest speakers Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, and Malini Mithal, Associate Director of the FTC’s Division of Financial Practices. Chris Willis, Practice Leader of Consumer Financial Services Litigation at Ballard Spahr, also participated…
Ballard Spahr to hold May 7 webinar: What’s Happening at the FTC, with Special Guests Andrew Smith and Malini Mithal (including the FTC’s response to COVID-19)
By Barbara S. Mishkin on
While the leadership and priorities of the Federal Trade Commission have changed under the Trump Administration, the FTC continues to take an active role in the enforcement of consumer financial laws. On May 7, 2020, from 12:00 p.m. to 1:00 p.m. ET, Ballard Spahr will hold a webinar, “What’s Happening at the FTC.” Our special…
FTC offers advice on use of artificial intelligence and algorithms
By Christopher J. Willis on
Andrew Smith, Director of the FTC Bureau of Consumer Protection, has written a blog post, “Using Artificial Intelligence and Algorithms,” in which the FTC “offer[s] important lessons about how companies can manage the consumer protection risks of AI and algorithms.”
The blog post makes the following key points:
- Transparency. Companies that use AI tools,
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CFPB issues annual FDCPA report
By John L. Culhane, Jr. & Stefanie Jackman on
The CFPB has issued its annual Fair Debt Collection Practices Act report covering the CFPB’s and FTC’s activities in 2019.
With regard to the CFPB’s debt collection rulemaking, in her opening message, Director Kraninger only references the Bureau’s May 2019 proposal. She does not mention the Bureau’s supplemental proposal issued last month that would require…
FTC Releases 2019 Privacy and Data Security Update
By Kim Phan on
On February 25th, the Federal Trade Commission (FTC) released its annual Privacy and Data Security Update, which highlights the FTC’s activities during the past year.
According to the update, the FTC enforcement actions in the past year involved privacy and data security addressing a range of issues, including identity theft, credit reporting and financial…
FTC sends annual ECOA report to CFPB
By John L. Culhane, Jr. on
FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B.
The FTC has authority to enforce the ECOA and Reg. B as to nonbank providers within its jurisdiction. However, like several of the FTC’s prior letters on its ECOA…
FTC announces improvements to orders in data security cases
By Kim Phan on
Yesterday, Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, announced the following three major improvements that have been made to FTC orders in data security cases:
- Specificity: To counter past criticisms that FTC orders to implement comprehensive information security programs were too vague, FTC orders will now require specific security safeguards that address
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