Federal Trade Commission November 2023 – Federal Register Recent Federal Regulation Documents

The Federal Trade Commission (``FTC'' or ``Commission'') is issuing a final rule (``Final Rule'') to amend the Standards for Safeguarding Customer Information (``Safeguards Rule'' or ``Rule'') to require financial institutions to report to the Commission any notification event where unencrypted customer information involving 500 or more consumers is acquired without authorization.

The Federal Trade Commission commences a rulemaking to promulgate a trade regulation rule entitled ``Rule on Unfair or Deceptive Fees,'' which would prohibit unfair or deceptive practices relating to fees for goods or services, specifically, misrepresenting the total costs of goods and services by omitting mandatory fees from advertised prices and misrepresenting the nature and purpose of fees. The Commission finds these unfair or deceptive practices relating to fees to be prevalent based on prior enforcement, the comments it received in response to an advance notice of proposed rulemaking, and other information discussed in this proposal. The Commission now solicits written comment, data, and arguments concerning the utility and scope of the trade regulation rule proposed in this notice of proposed rulemaking to prevent the identified unfair or deceptive practices.