FTC

A senior US senator called Wednesday for a federal investigation of credit rating agency Equifax

Washington - AFP

A senior US senator called Wednesday for a federal investigation of credit rating agency Equifax after the company lost the personal data of 143 million customers to hackers. Senator Mark Warner asked the Federal Trade Commission, one of the few bodies with oversight powers over loosely-regulated credit raters, to examine Equifax's security practices and its "widely-panned response" to consumers potentiallyRead more

South Korean prosecutors raid anti-trust body, financial regulator over presidential scandal

Seoul - ArabToday

South Korean prosecutors independently investigating the scandal involving impeached President Park Geun-hye on Friday raided the offices of an anti-trust body and a financial regulator to receive relevant materials. The independent counsel team said that some offices of the Financial Services Commission (FSC) in Seoul and the offices of the Fair Trade Commission (FTC) in the administrative city of SejongRead more

Western Union agrees to pay $586m for fraud victims

New York - Arab Today

Western Union has agreed to pay $586 million to the US government to pay back victims of fraud that the money transfer company failed to protect. The government said Thursday that Western Union did not have a strong enough anti-fraud program, allowing scammers to use its money-transfer services to rip off customers. In one such scam, fraudsters would contact peopleRead more

To settle charge it misled drivers

San Francisco - Arab Today

Uber has agreed to pay $20 million to settle charges that the ride-sharing company exaggerated claims about driver pay and new car financing, US regulators said. The money paid by San Francisco-based Uber Technologies will be used to provide refunds to affected drivers in the United States, according to the Federal Trade Commission. "Many consumers sign up to drive forRead more

For deceptive 'clean diesel' campaign

Washington - Arab Today

The US government filed suit against Volkswagen Tuesday, charging it duped American consumers with "clean diesel" marketing, deepening the emissions-cheating scandal that has rocked the German auto giant. The Federal Trade Commission announced it is seeking a federal court order requiring Volkswagen to compensate consumers who bought or leased more than 550,000 VW and Audi vehicles secretly outfitted with illegalRead more