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Federal Trade Commission

6:51 a.m. Dec. 27, 2020 - By Quentin Fottrell
My aunt stole my mother’s Social Security, and persuaded my elderly father to sign over power of attorney ‘My father was recently very sick and in the hospital, and he was not in his right mind’‘My father was recently very sick and in the hospital, and he was not in his right mind.’
5:06 a.m. Oct. 12, 2020 - By Chris Matthews
A Barrett court would continue Trump’s deregulatory agenda long after he’s left the White House, experts say Amy Coney Barrett is likely to be a pro-business justice, if confirmedJudge Amy Coney Barrett’s nomination to the Supreme Court has brought the public’s attention to divisive social issues like abortion rights, but replacing the late Justice Ginsburg with a more conservative voice could have an equally important effect on business regulation and the economy.
2:11 p.m. Oct. 6, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 210,000 as doctors say Trump’s comments on COVID-19 are sending the wrong message Experts were hoping Trump’s brush with COVID-19 would lead to greater focus on public health measures, including face masksThe U.S. death toll from the coronavirus pandemic climbed above 210,000 on Tuesday, as doctors and health experts lamented President Donald Trump’s latest comments on COVID-19, with many fearing they are sending the wrong message to the American public.
11:02 a.m. Aug. 4, 2020 - By Bev O’Shea
You get a call that you’ve been exposed to coronavirus. How to make sure a contract tracer isn’t a scammer Here’s what to look for, and what a legitimate contract tracer will never ask youScammers are masquerading as contact tracers, and it’s smart to verify calls or texts before giving out any information
4:51 a.m. June 26, 2020 - By Greg Robb
Fed caps bank dividend payments and suspends share-buybacks for third quarter after stress tests The central bank will proceed on a quarter-by-quarter basis given uncertainty over economic outlookThe Federal Reserve on Thursday voted to cap bank dividend payments to an income formulation and forbid share-buybacks as a study showed firms would take a big hit under some downside scenarios related to the coronavirus pandemic.
4:11 a.m. June 20, 2020 - By Quentin Fottrell
My husband died from COVID-19. Will the IRS allow me to use his $1,200 stimulus check for funeral and medical expenses? ‘I am sure there are other senior citizens who have the same issues as me’‘I am sure there are other senior citizens who have the same issues as me.’
8:27 a.m. June 4, 2020 - By Ciara Linnane
FTC sends warning letters to 35 more companies over unsubstantiated claims relating to COVID-19The Federal Trade Commission said Thursday it has sent warning letters to 35 more companies telling them to stop making unsubstantiated claims that their products can treat or prevent COVID-19. It's the to be sent since the start of the outbreak and brings the total of those targeted to more than 160 companies and individuals. The latest crop are mostly aimed at treatments offered in clinics or medical offices and include such things as intravenous (IV) Vitamin C and D infusions, supposed stem cell therapy, and vitamin injections that may at first glance appear to be based in medicine or proven effective. "However, currently there is no scientific evidence that these, or any, products or services can treat or cure COVID-19," the agency said in a statement. The letters warn that failure to cease making claims could lead to a federal court injunction and order requiring customer refunds. The and the Food and Drug Administration have also been cracking down on claims made during the pandemic.
10:00 a.m. May 22, 2020 - By Alessandra Malito
News and analysis for those planning for or living in retirement Retirement news and analysisRetirement news and analysis
10:51 a.m. May 21, 2020 - By Ciara Linnane
Coronavirus update: Global case tally passes 5 million; U.S. scientist says don’t rely on a vaccine, job losses continue Macy’s issues a sales warning for the first quarter, but Best Buy profit and sale fall less than expected and BJ’s beats estimatesThe global case tally for the coronavirus that causes COVID-19 passed 5 million on Thursday after the biggest one-day increase since the start of the outbreak, as a top U.S. scientist cautioned that people should not rely on a vaccine and the labor market continued to show massive job losses.
9:27 a.m. May 21, 2020 - By Ciara Linnane
FTC warns another 50 companies over unsubstantiated claims for treatments for COVID-19The Federal Trade Commission said Thursday it has sent letters to another 50 companies warning them to stop making unsubstantiated claims that their products can treat or prevent COVID-19, the illness caused by the novel coronavirus. It's the regulator's fifth such letter as it works to protect consumers from health-related scams, the FTC said in a statement. Thursday's batch include "treatments" such as Chinese herbal medications, music therapy, ozone therapy, and shields claimed to boost the immune system by protecting the wearer from electromagnetic fields. "However, currently there is no scientific evidence that these, or any, products or services can treat or cure COVID-19," said the statement. The companies that the FTC is targeting are small and privately held and are located across the U.S. The companies are being warned to stop making all claims and to notify the FTC within 48 hours about specific action taken. Failure to act could lead to a federal court injunction and an order requiring that customers be repaid. The FTC has already bought one such case against Marc Ching, doing business as Whole Leaf Organics, it said. The U.S. Food and Drug Administration and the have also taken action against companies over claims made by them or by third parties regarding testing, equipment and treatments for COVID-19.
7:27 a.m. May 21, 2020 - By Alessandra Malito
Can a nursing home take my stimulus money? Some facilities are trying to take Medicaid beneficiaries’ economic income payments, the Federal Trade Commission warns Some facilities are trying to take Medicaid beneficiaries’ economic income payments, the Federal Trade Commission warns.
7:36 a.m. May 9, 2020 - By Ciara Linnane
Coronavirus update: U.S. economy sheds record-setting 20.5 million jobs and New York child dies of condition linked to virus Uber posts almost $3 billion loss in latest quarter and Roku says it saw a spike in ad cancellations The U.S. Labor Department said the pandemic cost 20.5 million jobs in April, pushing the unemployment rate to a post–World War II high and deepening the economic crisis, while in New York, a child died of a rare condition linked to the virus.
5:22 a.m. May 8, 2020 - By Elisabeth Buchwald
FTC warns company to stop claiming that listening to certain musical frequencies will ‘weaken’ the coronavirus The FTC has sent more than 100 warning letters demanding that companies and individuals remove allegedly false marketing claims about preventing, curing or treating coronavirusThe FTC has sent more than 100 warning letters demanding that companies and individuals remove allegedly false marketing claims about preventing, curing or treating coronavirus.
10:04 a.m. May 7, 2020 - By Ciara Linnane
U.S. FDA cuts the number of China mask makers approved for N95 masks: reportThe U.S. Food and Drug Administration has cut the number of mask makers in China that are approved to make N95-type masks for U.S. health-care workers to 14 from 80, citing an interview with an unnamed FDA official. The move comes after state officials and the regulator found many imported N95 masks did not meet U.S. standards. In some cases, tests found 60% of 67 different kinds of imported masks allowed in more tiny particles in at least one sample than the U.S. standards allow. One Chinese company's masks filtered out only 24% to 35% of particles, below the 95% threshold that gives the masks their name. Today's move reverses a decision made on April 3 that approved all 80 manufacturers. Separately, the FDA to companies for making "bogus COVID-19 claims" including one to a seller of "fraudulent chlorine dioxide products, equivalent to industrial bleach, frequently referred to as "Miracle Mineral Solution" or "MMS", as a treatment for COVID-19." The and the have also been cracking down on false claims regarding products relating to the virus.
7:51 a.m. May 7, 2020 - By Ciara Linnane
FTC sends 45 warning letters to companies making claims they can stop or treat COVID-19The Federal Trade Commission said Thursday it has sent warning letters to 45 marketers across the U.S., telling them to stop making unsubstantiated claims that their products and therapies can effectively prevent or treat COVID-19. The agency said it is the fourth set of warning letters sent since the outbreak began, as it works to stop consumers from being scammed. The previous batch went to sellers of vitamins, herbs, colloidal silver, teas, essential oils, and other products pitched as scientifically proven coronavirus treatments or preventatives.intravenous (IV) "therapies" with high doses of Vitamin C, ozone therapy, and purported stem cell treatments, the FTC said in a statement. The latest batch targets another set of "treatments," including Chinese herbal medications, music therapy, homeopathic treatments, and even shields that it's claimed can boost the immune system by protecting the wearer from electromagnetic fields. "However, there is currently no scientific evidence that these, or any, products or services can treat or cure coronavirus," said the statement. The full list of companies can be read
2:14 p.m. May 5, 2020 - By Claudia Assis
Abbvie's deal for Allergan clears U.S. antitrust hurdleThe deal for AbbVie Inc. to buy Allergan Plc. has cleared an antitrust hurdle, the companies said late Tuesday. The U.S. Federal Trade Commission has accepted a proposed consent order in connection with the pending acquisition, satisfying "all required antitrust clearances needed" for the deal, they said. As part of order, Allergan has agreed to sell some treatments to AstraZeneca Plc. and Nestle SA . The two companies also said they have amended their agreement to stipulate that only one Allergan director will join the AbbVie board after the close. Allergan's current Chairman and Chief Executive Brent Saunders has elected not to join the AbbVie board "to provide more flexibility to pursue other opportunities in the sector," the companies said. The deal's closing remains subject to other closing conditions, including a hearing in Ireland on Wednesday.
10:34 a.m. May 5, 2020 - By Ciara Linnane
Coronavirus update: Death tally tops 250,000; reports say internal projections show government expects surge in COVID-19 cases Starbucks expects to open 85% of U.S. stores this week and L Brand scraps Victoria’s Secret stake saleThe number of deaths from COVID-19, the illness caused by the novel coronavirus, rose above 250,000 on Tuesday, amid news reports that internal projections used by White House officials were forecasting a jump in U.S. cases to come, even as President Donald Trump urges states to reopen.
2:12 a.m. April 23, 2020 - By Max A. Cherney
Pot companies left out of latest coronavirus stimulus bill, but lobbyists are still hopeful ‘This is the first time I’ve seen the federal trade associations for cannabis rolling in the same direction,’ insider says of lobbying effortsThe U.S. cannabis industry has largely been declared an essential business by state governments, and would like a taste of the federal coronavirus stimulus packages
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