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News >> Consumer Protection

The United States National Highway Traffic Safety Administration (NHTSA) has ordered (7 August 2014) Hyundai Motor America and Hyundai-Kia America Technical Center (collectively, Hyundai) to pay a US$17.35 million civil penalty and meet supervision requirements, in order to resolve the automaker's alleged failure to report in a timely manner a safety-related defect affecting a number of its vehicles.

Published in Consumer Protection

The New York State Office of the Attorney General (OAG) has announced that it is among several United States authorities that have reached a US$35 million settlement with Pfizer in relation to the company's "alleged improper marketing and promotion of the immunosuppressive drug Rapamune".

Published in Consumer Protection

The United States Department of Justice (DoJ) has announced that Fifth Third Mortgage Company has agreed to resolve allegations that it "engaged in a pattern or practice of discrimination on the basis of disability and receipt of public assistance".

Published in Consumer Protection

Insurance Company Fined for Sales Practices

14 Aug 2014
Written by World Watch

The United Kingdom Financial Conduct Authority (FCA) has announced that it has fined (7 August 2014) Stonebridge International Insurance £8.4 million after finding that, between April 2011 and December 2012, the firm engaged in the following conduct in its sale of accident insurance products:

Published in Consumer Protection

The United Kingdom Financial Conduct Authority (FCA) has released Guidance consultation - Social media and customer communications (August 2014) for public comment. The document sets out the FCA's proposed supervisory approach to financial promotions in social media.

Published in Consumer Protection

The United States District Court for the Southern District of New York has ordered Bank of America Corp (BofA) to pay a US$1.27 billion penalty for fraud. The ruling reportedly relates to a lending program of Countrywide Financial Corporation (Countrywide), which was acquired by BofA in 2008.

Published in Financial Integrity

The United States Department of Justice (DoJ) has announced that convenience retailer QuikTrip has paid more than US$1.5 million in damages to "47 individuals with disabilities who experienced discrimination at QuikTrip gas stations and convenience stores across the country".

Published in Consumer Protection

The Federal Court of Australia (FCA) has handed down its judgment in Australian Competition and Consumer Commission v Dateline Imports Pty Ltd [2014] FCA 791 (30 July 2014). According to the Australian Competition and Consumer Commission (ACCC), the FCA has found that Dateline Imports breached the Trade Practices Act (now known as the Competition and Consumer Act (2010) 1974 No. 51 (Cth)) by making misleading representations regarding its Keratin Complex Smoothing Therapy hair straightening product.

Published in Consumer Protection

The United States Financial Conduct Authority (FCA) has announced that it has banned two firms from recruiting Appointed Representatives (ARs) and individual advisers in what is the FCA's first exercise of its suspension powers.

Published in Consumer Protection

The New York State Attorney General's office (OAG) has made available a joint statement (25 July 2014) by Attorney General Eric Schneiderman and state financial services superintendent Benjamin Lawsky regarding an agreement (25 July 2014) reached with app-based ride-sharing service provider Lyft.

Published in Consumer Protection
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