PayPal Enters Consent Decree with FTC over Venmo Breaches

Venmo, a peer-to-peer mobile payment app acquired by PayPal, reached a consent decree over deceptive practices and privacy and data security issues. Funds Availability Policy The FTC charged that Venmo falsely represented that once a user credited their account the money could be freely transferred to your bank account.  In reality, despite many complaints, Venmo…

Ashley Madison Pays $1.6M in Data Breach, Fraud Settlement

In a settlement with the Federal Trade Commission and 13 states, Ashley Madison agreed to pay $1.6 million dollars and implement a comprehensive data-security program, stemming from charges that the website deceived consumers and failed to protect 36 million users’ account and profile information in relation to a massive July 2015 data breach of their network.…

PayPal Pays $25M in CFPB Consent Decree

PayPal Pays $25M in CFPB Consent Decree This week the Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed consent order in federal court against PayPal, Inc. for illegally signing up consumers for its online credit product, PayPal Credit, formerly known as Bill Me Later. The CFPB alleges that PayPal deceptively advertised promotional benefits that…

Cyber Report: A Dozen Things You Need to Know (Patriot’s Day Edition)

April 20, 2015 A Dozen Things in Tech You Need to Know  Happy Patriot’s Day! Patriot’s Day commemorates that Battle of Lexington and Concord and the “shot heard ’round the world” that began the American Revolution.  It is a holiday in Maine and Massachachusetts and celebrated by, among other things, the running of the Boston…

In The Courts: Overstock’s $6MM Hit, a Costly FB Rant and KlearGear Shoots Itself

Overstock Hit With $6.42 Million Fine From California Court Over Boosted Comparison Pricing In 2010, six Northern California County District Attorneys filed suit against Overstock for fraudulent price comparisons in Alameda County Superior Court. In one example cited in the lawsuit, Overstock advertised a patio set for sale for $449.99 and claimed that the “List…

CLBR Segment 2: News Update and Debates

NEWS UPDATE & FOLLOW UP Google to Block YouTube Video in Brazil Google Brazil to Take Down Controversial Video Chief Arrested Over Video Google Brazil Chief Arrested Over YouTube Video Cal Enacts Anti-Social Media Snooping Law Praised by ACLU Prof Goldman is a critic See Backgrounder for May 16th CLBR on this topic FTC Watch…