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- the FTC entered into an agreement with lead generation company ITMedia Solutions LLC and a number of related entities and individuals (collectively “ITMedia”) to resolve allegations that ITMedia used deceptive marketing tactics to collect financial information sensitive to millions of consumers in violation of the FTC Act and the Fair Credit Reporting Act.
- the complaint, filed concurrently with the stated order, alleges that ITMedia operated hundreds of websites that tricked consumers into sharing sensitive financial information, including social security numbers and bank account information, under the guise of apply for loans. In reality, ITMedia did not connect consumers with lenders, but harvested their information and sold it to other companies as marketing leads.
- Under the terms of the stipulated order, ITMedia will pay a civil penalty of $1.5 million. Additionally, among other things, ITMedia will be prohibited from selling consumers’ personal information, except in a limited set of circumstances, and will be required to establish procedures to screen those to whom ITMedia sells, transfers or discloses sensitive financial information. about consumers and to monitor their use of such information.
- As previously stated, in 2021, the FTC reached a $114.3 million settlement with ITMedia client Lead Express, Inc., a payday loan company, and related companies and individuals (collectively “Lead Express”) to resolve allegations that it used deceptive business practices and unauthorized bank withdrawals from overcharged consumers millions of dollars on payday loans.
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