• On February 3, 2011, the FTC announced that it has reached tentative settlement agreements with three credit report resellers that allegedly failed to take reasonable steps to protect consumers’ personal information. Credit report resellers buy credit reports from reporting agencies and combine them into special reports, which they then sell to mortgage brokers and other creditors. These three resellers allegedly failed to implement basic security measures to protect the credit reports and, as a result, hackers accessed more than 1,800 credit reports without authorization. The settlements require the resellers to implement comprehensive cyber-security programs and to obtain independent audits of their cyber-security programs every other year for 20 years. The settlement agreements will be subject to public comment through March 7, 2011, after which time the Commission will decide whether to make the proposed settlement agreements final. In re SettlementOne Credit Corp., FTC File No. 082-3208; In re ACRAnet, Inc., File No. 092-3088; In re Fajilan & Assocs. Inc., File No. 092-3089.

A copy of the FTC’s press release can be found here.

Comments on the SettlementOne Credit Corp. settlement may be submitted electronically here.

Comments on the ACRAnet, Inc. settlement may be submitted electronically here.

Comments on the Statewide Credit Services settlement may be submitted electronically here.

  • The FTC will host a forum on May 11, 2011, in Washington, DC, to examine how the government, businesses, and consumer protection organizations can work together to prevent consumers from receiving unauthorized third-party charges on their phone bills — a practice known as “cramming.” The forum, which will be held at the FTC’s satellite building conference center, will be open to the public. Any individuals interested in appearing on the panel must submit requests to the FTC no later than March 4, 2011. The FTC also invites interested parties to submit comments on cramming prevention through the FTC’s online comment form no later than April 27, 2011. The FTC’s Press Release on the Cramming Forum can be found here. Comments can be submitted to the FTC here.