The United States (US) Federal Trade Commission (FTC) has made available its Prepared Statement (17 July 2013) before the US Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Financial Institutions and Consumer Protection (the Committee) for the Committee's inquiry titled Shining a Light on the Consumer Debt Industry.
Visa and MasterCard have jointly made a submission to the Australian Competition and Consumer Commission (ACCC), urging 90% of in-store credit card sales to be verified by personal identification number (PIN) rather than by signature by 30 June 2014, in a bid to reduce credit card fraud.
Johnson & Johnson has agreed to pay US$22.9 million to cease a lawsuit carried out by investors who claimed the company concealed quality-control failures, which culminated in a large-scale recall of children's medicines.
The Australian Competition and Consumer Commission (ACCC) has announced that bottled water brands Organic Springs, Lithgow Valley Springs Organic, Nature's Best Organic, Active Organic, Organic Australia, Organic Falls and Organic Nature's Best will remove "organic" claims from their marketing and labelling material, with Aqua Organic withdrawing from sale altogether.
The Australian Securities and Investments Commission (ASIC) has announced that HSBC Bank and the Commonwealth Bank of Australia have modified their advertising for selected retail structured products following ASIC "concerns that the materials were potentially misleading".
The United States (US) Federal Trade Commission (FTC) has announced that the deadline for public comments regarding the proposed changes to the agency's Telemarketing Sales Rule (TSR) has been extended to 8 August 2013. According to the FTC, the proposed changes "concern banning certain payment methods favoured in fraudulent telemarketing transactions".
United States egg producers Quality Egg and Hillandale Farms have reached a settlement with distributor NuCal Foods Inc (NuCal) regarding allegations of a salmonella outbreak in 2010 which caused NuCal to suffer lost profits.
The United Kingdom Information Commissoner's Office (ICO) has announced that it has issued Tameside Energy Services Limited (Tameside) with a Monetary Penalty Notice (5 July 2013) that requires the company to pay £45,000 to resolve an investigation into its practice of making unsolicited telemarketing calls.
The United Kingdom Office of Gas and Electricity Markets (Ofgem) has released the Consumer Vulnerability Strategy(4 July 2013), which "sets out Ofgem's approach to identifying and tackling consumer vulnerability in the energy market".
The Australian Competition and Consumer Commission (ACCC) has announced that the Federal Court has found that Baiada Poultry Pty Ltd and Bartter Enterprises Pty Ltd, two companies which process and supply Steggles chicken products, engaged in false, misleading and deceptive conduct by describing their meat chickens as being "free to roam" in large barns in advertising and on packaging.
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