On April 20, 2020, the Federal Trade Commission (FTC) announced a consent order that imposed $9.3 million in consumer refunds to settle allegations that Fashion Nova, Inc. violated the agency s Mail, Internet, or Telephone Order Merchandise Rule (the Mail Order Rule ), which applies to merchandise sold to consumers, online, by mail, or by phone. 16 C.F.R. Part 435.The Mail Order Rule is a longstanding FTC rule that takes on added significance for online sellers during the COVID 19 pandemic. It requires retailers who accept orders from U.S. customers to ship each order within the time stated in their ad or on their website. If the shipping date is not clearly stated, the seller is deemed to have provided no shipment representation and must ship within 30 days. If shipping obligations cannot be met, the company must provide the customer with timely notice and the option to either agree to a delay or cancel the order and obtain a refund. Because of supply chain and shipping delays brought on by COVID 19, we are seeing an increased number of retailers unable to fulfill shipping promises in compliance with the Mail Order Rule, putting them at peril of landing in the shoes of Fashion Nova.
The 28 page petition, filed Thursday (Feb. 27), asks the FTC to study Amazon s impact on the economy. It also asks if the eCommerce giant s sprawling empire has an unfair advantage in the marketplace. The unions represent over 5 million American workers. We wanted to demonstrate that there is a real desire to see them take this on, said Michael Zucker, director of Change to Win, a federation of labor unions that led the effort.
A lot of exciting developments are in store for the Ethereum project in 2020: the team is about to start a transition to Ethereum 2.0, the last final update for the second largest cryptocurrency platform in the world, while CFTC is ready to approve ETH futures. How will all these events pan out for ETH, and what #39;s going to move the price during the year? Read on to know the answers.Ethereum is one of the largest cryptocurrency platforms, often referred to as the world #39;s computer. With the current market value of $15.7 billion, it is second only to Bitcoin. Ethereum was proposed by a Russian Canadian developer Vitalik Buterin in 2013. In November 2015, the platform went live after the team raised over $2.3 billion via a highly successful crowd sale. The platform is used to create decentralized applications and online services based on smart contracts technology. As an open source platform, Ethereum allows startups and companies to build their blockchains, issue digital tokens and raise financing.
To comply with the ruling, YouTube created a system where creators could either label their entire channel as child directed, or they could identify only certain videos as being directed at children, as needed. Videos that are considered child directed content would then be prohibited from collecting personal data from viewers. This limited creators; ability to leverage Google;s highly profitable behavioral advertising technology on videos kids were likely to watch.As a result, YouTube creators have been in an uproar since the ruling, arguing that it ''s too difficult to tell the difference between what ''s child directed content and what ''s not. Several popular categories of YouTube videos #8212; like gaming, toy reviews and family vlogging, for instance #8212; fall under gray areas, where they 're watched by children and adults alike. But because the FTC ''s ruling left creators held liable for any future violations, YouTube could only advise creators to consult a lawyer to help them work through the ruling ''s impact on their own channels.
It is an interesting day in the cryptocurrency space following the launch of Bakkt physically settled Bitcoin futures. The exchange 's futures product goes live roughly a year since then the announcement. The delays were mostly caused by regulatory hurdles. Bakkt was given the go ahead to introduce the first physically delivered Bitcoin futures by the Commodity Futures Trading Commission (CFTC) in the United States.Read more: Bakkt physically settled Bitcoin futures trading is live: Bitcoin price sluggish under $10k
Reports from CNN and Politico about the Executive Order draft emerged just as the White House hosted a Friday meeting of technology companies to explore online violent rhetoric and images. President Donald Trump signaled plans for such an effort to crackdown on liberal bias online during a "social media summit " (mostly for conservative "journalists and influencers ") on July 11. Related: Trump Looks to Enforce Fairness on Social Media #xA0;
WASHINGTON: Facebook Inc will pay a record breaking $5 billion fine to resolve a government probe into its privacy practices and the social media giant will restructure its approach to privacy, the US Federal Trade Commission said on Wednesday.The FTC voted 3 2 along party lines to adopt the settlement, which requires court approval, even as Democrats said the settlement did not go far enough or require a large enough fine.
Facebook Chief Executive Mark Zuckerberg will have to certify every three months that the company is properly safeguarding user privacy, a person briefed on the matter said. The Washington Post reported on Tuesday that the FTC will allege Facebook misled users about its handling of their phone numbers and its use of two factor authentication as part of a wide ranging complaint that accompanies a settlement ending the government's privacy probe, citing two people familiar with the matter.Separately, the U.S. Securities and Exchange Commission is expected to announce a related settlement with Facebook for around $100 million over allegations it failed to disclose risks to investors over its privacy practices. The Wall Street Journal reported the SEC settlement earlier. The Post also reported the FTC also plans to allege Facebook provided insufficient information to about 30 million users about a facial recognition tool, an issue identified earlier by Consumer Reports.
However, that recent surge in popularity has also raised some red flags over what the Russia based company does with the photos you upload. On July 17, Senate Minority Leader Chuck Schumer sent a letter calling on the FBI and FTC to investigate the app.
According to the report, the deal, which would be the largest penalty ever imposed by the FTC for privacy violations, still needs approval from the Justice Department before it is finalized.Although details have not yet been released, the deal will likely include restrictions on how Facebook is able to use personal data. Charlotte Slaiman of the consumer group Public Knowledge thinks it is unlikely the restrictions will be overly harsh.
New details have emerged of an agreement between the two U.S. regulators that would see the Federal Trade Commission take the reins in antitrust investigations of Amazon and Facebook, while the Department of Justice will oversee investigations of Alphabet;s Google business and Apple.Shares of Apple 's stock tumbled on news of the Justice Department 's role in overseeing the company, which was first reported by Reuters even as the company was in the middle of its developer conference celebrating all things Apple.
The Federal Trade Commission and the Department of Justice, which enforce antitrust laws in the United States, have divided oversight over the four companies, two sources said, with Amazon and Facebook under the watch of the FTC, and Apple and Google under the Justice Department.With jurisdiction established, the next step is for the two federal agencies to decide if they want to open formal investigations. Results are not likely to be quick. A previous FTC probe of Google took more than two years.
The specific changes outlined in an expanded Monetization and Ads page require developers with randomized reward items to "clearly disclose the odds of receiving those items in advance of purchase," which could incentivize games to lower loot box probabilities to make their purchase seem more worthwhile. Loot boxes have come under scrutiny even outside of Google, as the Federal Trade Commission and Missouri Senator John Hawley are launching respective attempts to investigate and potentially ban them the FTC will host a public workshop in Nov. 2019 to see if loot boxes violate consumer protections and Hawley's reportedly problematic bill aims to outlaw pay to win and gambling adjacent monetization in all games marketed to children under 18.
Cryptocurrency media reported the words of an unidentified U.S. Commodity Futures Trading Commission (CFTC) official, who suggested an Ether futures contract would be welcomed by regulators.According to reports, the CFTC is quite open to the idea of an Ethereum futures contract falling under their regulatory control. The unnamed official is quoted as saying:
According to the New York Times, the Federal Trade Commission s negotiations with the social network are coming to a close yet the agency s five commissioners are still unable to agree on how to deal with the Facebook founder.Sources familiar with the talks tell the Times that along with the dissent over Zuckerberg, the FTC is also wrestling with the exact financial penalty to be levied against the company. Facebook is expecting to pay a record breaking fine of somewhere between $3 billion and $5 billion.
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