Antitrust Law Daily Wrap Up, WORTH NOTING—Other Antitrust and Trade Regulation developments, (Dec 12, 2014)
Organizations Mentioned:East West Bank
A periodic roundup of other items of interest to the Antitrust and Trade Regulation community:
FRANCHISING & DISTRIBUTION—D. S.C.: A federal government action for civil forfeiture of bank accounts of four alleged fraudulent automobile exporters could proceed, since the complaint set forth sufficient detail of the alleged export schemes and provided sufficient facts relating to the bank accounts, the federal district court in Columbia, South Carolina, has ruled. The defendants’ motion to dismiss was denied (U.S. v. $795,652.33 in funds seized from Account xxxx1607 with East West Bank, December 1, 2014, Currie, C.).
STATE UNFAIR TRADE PRACTICES—2nd Cir.: In a summary order, the Second Circuit vacated and remanded a federal district court’s dismissal of a consumer class action under the Connecticut Unfair Trade Practices Act and Magnuson-Moss Warranty Act. The district court dismissed the case without sufficiently articulating its rationale, giving only a wholly-conclusory explanation that the need for class treatment did not outweigh the individual aspects of the case. Under the circumstances, the appeals court was unable to properly review the decision (Fraiser v. Stanley Black & Decker, Inc., December 11, 2014, per curiam).
CONSUMER PROTECTION NEWS: The FTC has obtained stipulated final orders against 22 defendants who offered financially-strapped consumers fake home-loan modification services that the FTC claims violated the FTC Act and the Mortgage Assistance Relief Services (MARS) Rule, the FTC has announced. The MARS Rule bans mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they deem acceptable (FTC v. A to Z Marketing, Inc., FTC File No. 122 3074, Civil Action No. 813-cv-00919-DOC-RBN).
CONSUMER PROTECTION NEWS: In a December 10 speech to the New York Bar Institute for Corporate Counsel, FTC Commissioner Terrell McSweeny highlighted the privacy and security activities of the “Federal Technology Commission.” She also discussed the policy questions arising at the intersection of technology, intellectual property, and antitrust.
News: Antitrust ConsumerProtection FranchisingDistribution StateUnfairTradePractices FederalTradeCommissionNews