Antitrust Law Daily Wrap Up, WORTH NOTING—Other Antitrust and Trade Regulation developments, (Mar 12, 2015)
Organizations Mentioned:Federal Trade Commission | Truecar, Inc.
A periodic roundup of other items of interest to the Antitrust and Trade Regulation community:
ADVERTISING NEWS: TrueCar, Inc. has responded to a complaint filed in the federal district court in New York City by 118 non-affiliated automobile dealerships alleging that TrueCar engaged in false advertising and deceptive business practices by promising that consumers who use its services can buy cars at TrueCar affiliated dealerships at guaranteed low prices without price negotiations when it fact the promised vehicles may not be available at the advertised price or financing terms. TrueCar stated that it takes compliance with all laws very seriously, has invested substantial resources in compliance efforts, and proactively engaged in dialogues about its business model with various regulatory authorities and dealer associations across the country.
ANTITRUST NEWS: The FTC and Consumer Financial Protection Bureau reauthorized their ongoing Memorandum of Understanding. The memorandum outlines the relationship between the two agencies under the terms of the Consumer Financial Protection Act, and is designed to coordinate efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts. The memorandum was reauthorized for a three-year term.
ANTITRUST NEWS: Three financial services companies and a chemical company conspired to manipulate and rig the global benchmarks for platinum and palladium and related financial derivative products, known as the Platinum and Palladium Fixings, on the New York Mercantile Exchange in the United States, according to a complaint filed in the federal district court in New York City (Bailey v. BASF Metals Limited, March 9, 2015).
PRIVACY NEWS: The Campaign for a Commercial-Free Childhood (CCFC) has started a movement to stop Mattel, Inc. from selling a Wi-FI-connected Barbie doll. Mattel unveiled "Hello Barbie," which uses an embedded microphone to record children's voices. "Hello Barbie" transmits the recordings over the Internet to cloud servers. Mattel’s technology partner ToyTalk processes the audio with voice-recognition software. Mattel says it will use this information to "push data" back to children through Barbie's built-in speaker. The CCFC stated that it finds the doll “creepy” and would create “a host of dangers for children and families.”
PRIVACY NEWS: The House Judiciary Committee has scheduled a March 25 titled “Wrecking the Internet to Save It? The FCC’s Net Neutrality Rule.” The witnesses will be FCC Chairman Tom Wheeler; FCC Commissioner Ajit Pai; and Joshua Wright, a commissioner on the Federal Trade Commission. In a statement today, Committee Chairman Bob Goodlatte (R., Va.) said, “The Internet doesn’t need an inflexible ‘one-size-fits-all’ government mandate to ensure net neutrality. The key to an open and free Internet lies in strong enforcement of our nation’s antitrust laws. These time-trusted laws allow for maximum flexibility and consistently have demonstrated their ability to prevent discriminatory and anti-competitive conduct in the marketplace.” The hearing is slated to begin at 10 a.m. in Room 2141 of the Rayburn House Office Building.
PRIVACY NEWS: Connecticut Attorney General George Jepsen announced the creation of the Privacy and Data Security Department, a new department within the Connecticut Office of the Attorney General, tasked with working exclusively on investigations and litigation related to privacy and data security.
News: Advertising Antitrust Privacy