FTC orders Credit Karma to pay $3m for “misleading” consumers
Credit Karma says it disagrees with the FTC’s allegations but that it has reached an agreement.
FTC
FTC files complaint against paytech First American over alleged “harmful practices”
Under a proposed federal court order, First American will have to return $4.9m to affected businesses.
FTC shutters San Fran fintech Beam for not delivering on 7% interest rate
“Don’t lie about your customers’ ability to get their money when they need it.”
First Data agrees to $40m FTC settlement
The money will be used to provide refunds to consumers who may have been harmed.
Western Union refunds $153m for scam victims
Western Union agreed to pay $586 million in monetary relief following a 2017 scandal.
FTC puts Visa and Mastercard under debit routing microscope
Major card schemes under investigation for blocking other network payments.
Millennials more likely to report fraud than older generations, finds FTC
People aged 20-30 happier to report scams than those over 40.
PayPal settles FTC complaints over Venmo vagueness
FTC reaches settlement over allegations that PayPal provided inaccurate payments information to Venmo users.
Bahrain launches largest fintech hub in MENA region
The Bahrain Economic Development Board (EDB) and FinTech Consortium (FTC) have launched Bahrain FinTech Bay (BFB), the “largest dedicated fintech hub in the Middle East and Africa”. The new hub aims to further the development and acceleration of firms as well as the interaction between investors, entrepreneurs, government bodies and financial institutions. BFB, with an […]
Equifax breach fallout far-reaching
The fallout from Equifax’s data breach, which compromised personal data of 143 million US consumers, continues with an investigation by the US Federal Trade Commission (FTC) and Mastercard and Visa warning issuers that more than 200 million cards are at risk.
