Misc

Feds Propose Strong Protections For Prepaid Products

Today the Consumer Financial Protection Bureau (CFPB) is proposing strong, new federal consumer protections for the prepaid market. The proposal would require prepaid companies to limit consumers’ losses when funds are stolen or cards are lost, investigate and resolve errors, provide easy and free access to account information, and adhere to credit card protections...

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At FTC’s Request, Court Halts Bogus Bitcoin Mining Operation Butterfly Labs Allegedly Delayed Shipment or Failed to Deliver Paid-For Bitcoin Mining Computers, Costing Consumers Tens of Millions

September 28, 2014
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At the request of the Federal Trade Commission, a federal court has shut down Butterfly Labs, a Missouri-based company that allegedly deceptively marketed specialized computers designed to produce Bitcoins, a payment system sometimes referred to as “virtual currency.” The FTC’s complaint against the company and its corporate officers alleges that Butterfly Labs charged consumers...

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Home Depot’s Credit Cards May Have Been Hacked

September 6, 2014
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A massive batch of credit and debit card information that went on sale on a criminal Internet site this week may be from Home Depot stores and could be linked to hackers responsible for breaches at Target and P.F. Chang’s. The credit card information was offered for sale Tuesday on an underground site that...

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Debt Relief Firm Forced To Reimburse Millions To Servicemembers For Prepatory Lending

CONSUMER FINANCIAL PROTECTION BUREAU AND 13 STATE ATTORNEYS GENERAL OBTAIN ABOUT $92 MILLION IN DEBT RELIEF FOR SERVICEMEMBERS HARMED BY PREDATORY LENDING SCHEME Rome Finance and Owners Permanently Banned from Consumer Lending After Deceiving About 17,000 Servicemembers and Other Consumers   The Consumer Financial Protection Bureau (CFPB) and 13 state attorneys general obtained approximately...

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