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August 2008
AUSTRALIA
Australian Competition & Consumer Commission (ACCC)
www.accc.gov.au
Court finds Aboriginal art dealer misled public
Following legal action by the ACCC, the Federal Court today declared
that the operators of Doongal Aboriginal Art and Artefacts had engaged
in misleading and deceptive conduct in contravention of the Trade
Practices Act 1974.
Court declares Australian Co-operative Foods falsely labelled cheese
products
The ACCC has obtained orders by consent in the Federal Court in
Melbourne against Australian Co-operative Foods Limited in relation to
engaging in misleading and deceptive conduct and making false
representations on the packaging of certain cheese products. Between 6
February 2008 and 19 March 2008 ACF, which trades as Dairy Farmers, sold
Romano style cheese that it packaged and labelled as Parmesan style
cheese. The ACCC alleged that this conduct falsely represented the type
of cheese and its nutritional attributes. The affected brands of cheese
were Mil Lel and Westacre.
Court declares false claims made in promotion of solarium use
The ACCC has succeeded in its important public interest action against
those involved in making false claims about, and misrepresenting the
risks associated with, solarium use in contravention of the Trade
Practices Act 1974. In July this year the ACCC took action in the
Federal Court of Australia against the Australian Tanning Association
Inc, Body Bronze International Pty Ltd and Tropical Sun Industries Pty
Ltd alleging they had engaged in false, misleading and deceptive conduct
in relation to the promotion of solarium use. Action was also taken
against Mr Scott Meneilly, the former president of the ATA and former
chief executive officer of Body Bronze for being involved in the alleged
contraventions of these parties.
Former jewellery chain operator convicted for false jewellery prices
Ascot Four Pty Ltd, the previous owner of the jewellery retailer Zamel's*,
has been convicted in the Federal Court, Adelaide, of making false and
misleading representations about the price of goods. Following an
investigation into Zamel's Christmas 2005 catalogue by the ACCC, the
Commonwealth Director of Public Prosecutions, laid charges against the
jewellery retailer on 20 December 2006.
Mobile premium services sending out mixed messages to consumers
Consumers should be wary before signing up to mobile premium phone
services."These mobile services include extras such as ring-tones,
wallpapers and information services," ACCC Chairman, Mr Graeme Samuel,
said today. "They are featured in many advertisements in magazines, on
television and on the internet. "While these extras may offer variety
and entertainment for some consumers, they are also the subject of
ongoing complaints. This has led the ACCC to turn its attention to the
advertising practices in the industry."
ACCC alleges misleading & deceptive conduct by TMG Asia Pacific Pty Ltd
in advertising mobile premium services
The ACCC has instituted proceedings in the Federal Court against TMG
Asia Pacific Pty Ltd for alleged false, misleading and deceptive conduct
in contravention of the Trade Practices Act 1974. The ACCC
alleges that in three of its television advertisements for its 'Text and
Win' mobile premium services*, TMG failed to adequately disclose the
costs and terms associated with the services and that this was likely to
mislead consumers.
Supplier of bunk beds guilty of contempt
Following action by the ACCC, the Federal Court has declared that
Hercules Iron Pty Ltd and its director, Mr Tom Hatz were guilty of
contempt by failing to comply with court orders prohibiting supply of
bunk beds that did not meet the mandatory product safety standard.
Ezibuy Ltd takes corrective action for inaccurate fabric descriptions
and labelling
EziBuy Ltd has offered refunds to purchasers of its 'Mohair Throws' and
'Pashmina Shawls' after acknowledging its fabric labelling and
advertising may have been misleading and deceptive. The ACCC has
accepted a court enforceable undertaking from EziBuy, a company
incorporated in New Zealand, over labelling and advertising of its items
described as 'Mohair Throws' and 'Pashmina Shawls'. EziBuy incorrectly
labelled and advertised a throw as a 'Mohair Throw' or 'Pure Mohair
Throw' when the fibre content of the throw was approximately 65 per cent
acrylic and 35 per cent mohair.
FINLAND
Consumer Agency & Ombudsman
www.kuluttajavirasto.fi
Manufactured housing packages are still marketed with insufficient
information - The housing package business sector failed to meet its
one-year deadline
When marketing manufactured housing packages, companies are still
not giving out enough information about prices and contents of the
package delivered. Last summer the Consumer Agency gave companies one
year to correct their marketing in order to be legally acceptable.
NEW
ZEALAND
Commerce Commission
www.comcom.govt.nz
POLAND
Office of Competition and Consumer Protection
www.uokik.gov.pl
Microsoft in hot water?
(http://www.uokik.gov.pl/en/press_office/press_releases/art124.html)
Selling notebook computers with pre-installed Microsoft software may
restrict competition, conclude the OCCP's explanatory proceedings. It
also limits consumers' choice. Due to the company’s global character of
activity the case was referred to the European Commission.
MEXICO
Consumer Protection Federal Agency (Profeco, by its initials in
Spanish language) of Mexico
http://www.profeco.gob.mx/
Profeco reports the judgment in the case of
Líneas Aéreas Azteca (http://www.profeco.gob.mx/prensa/prensa08/agosto08/bol109.pdf)
Referring to the judgment that on December 28th
2008 was issued by the Sixth District Court in Civil Matter of the
Federal District, before the class action demand that was
presented by the Consumer Protection Federal Agency (Profeco) on July 6th
2007 against Líneas Aéreas Azteca, S.A. de C.V. in representation
of 620 affected consumers, the Federal Consumer Attorney (Chairman),
Antonio Morales de la Peña, announced that at the end of last June, the
Third Unitarian Court in Civil and Administrative Matters resolved the
appeal promoted by the Agency in his charge.
It highlights that the period for the above
mentioned company to challenge the judgment under direct defense, ended
last July 22nd, without doing anything, this company will
have to compensate the damages and harms, which are the following: the
amount paid for the acquisition of the tickets, the additional amount
spent by each consumer harmed by the breach of the air transport
contract, and the indemnity, which shall not be less than 25% of the
ticket price, according to the Law of Civil Aviation, which was
requested by Profeco.
Due to the fact of the mentioned action, the Chairman said that it has
opened a new stage in the performance of Profeco in defending the
consumer rights through a class action.
The Chairman mentioned that now the Agency –Profeco-
may, on behalf of the affected passengers, request to the judge to order
Líneas Aéreas Azteca the payment of the damages and harms through
the introduction of an incidental complaint. Furthermore, he
remembered that the affected consumers should present before Profeco the
original documents that prove the purchase and payment of the ticket,
with the cost of the journey that was not carried out, as well as the
additional expenditures due to the breach of the air transport contract.
The interested consumers can submit their documentation in the regional
office of Profeco according to their locality.
It is presented the Ecovehículo Portal (http://www.profeco.gob.mx/prensa/prensa08/sep08/bol114.pdf)
· Joint work with the Ministry of Environment and Natural Resources (SEMARNAT,
by its initials in Spanish language), Profeco participates actively
· It is a guidance tool to buyers of new vehicles for smart consumption:
Morales de la Peña.
On September 8th 2008, Juan Rafael Elvira Quezada, Ministry of
Environment and Natural Resources (SEMARNAT, by its initials in Spanish
language), the Chairman of the Consumer Protection Federal Agency (Profeco)
of Mexico, Lic. Antonio Morales de la Peña, and the Director General of
the Commission on Energy Saving, Lic. Emiliano Pedraza, inaugurated the
website “Ecovehículos”, where will be available to the public the
environmental information and energy efficiency of new vehicles models
available in the market. The aim of this tool is to provide consumers of
environmental information in order to guide their purchasing decisions
towards greater sustainability and greater energy savings.
The launch of the Portal of Indicators of Energy Efficiency and
Vehicular Emissions (Ecovehículos Portal: www.ecovehiculos.gob.mx) is
the result of a joint work between the National Institute of Ecology,
the Consumer Protection Federal Agency and the National Commission on
Energy Saving.
Basically, these governmental offices used the information of the
environmental performance of each vehicle model, which was organized in
order to compare them between models, using a scale of zero to 10, where
vehicles that get zero just barely pass the emissions standard, and get
10, the least polluting vehicles on the market.
Regarding the energy saving and generation of greenhouse effect gasses,
the models that get 10 yield more kilometers per liter of used gasoline,
and zero the ones that least kilometers per litter gave in the market.
These two topics, saving of gasoline and reduction of pollutant
emissions, are combined for consumers to have a complete environmental
vision of the car that they want to buy.
Juan Rafael Elvira Quesada presented the Ecovehículos Portal as "an
innovative tool of environmental policy that empowers consumers. It will
be of greatest usefulness to all those homes, businesses and
institutions that want to show their growing environmental awareness in
their purchasing decisions."
The Minister of SEMARNAT stressed: "the Mexican households can now
compare the price, capacity, safety and style of the cars that they
intend to acquire; now, thanks to the Ecovehiculos Portal, we will give
them the possibility to also compare the saving in fuel and the
technology of reduction of pollutants of the different available models.
“They will have all the information in order to choose, according to
their interests and needs, the most sustainable option of the type of
vehicle they are looking for. This will move all Mexico towards a
greater sustainability, more gasoline saving for the families, and less
greenhouse effect gasses to the planet. We will have local benefits, in
order to Mexican families live better, and global benefits, so that our
country solidarity helps to alleviate the problem of Global Climate
Change.
The holder of the Commission on Energy Saving highlighted the
participation of this institution in the creation of this portal by
providing the values of fuel efficiency of the partner brands of the
Mexican Association of the Automotive Industry and other automotive
companies that are obtained since 2002, following the signing of an
Agreement on Consensus for Energy Efficiency between the federal
government and the national automotive industry itself. This officer
also stated the following: "Today is essential to provide information
about energy efficiency to consumers. Without better information there
are no better decisions. Just imagine how much we could resolve in the
theme if the millions of decisions were inclined to energy saving."
The Federal Consumer Attorney, Antonio Morales de la Peña, mentioned
that for Profeco the Ecovehículos Portal is a valuable tool for
consumers interested in purchasing a new vehicle can exercise a smart
consumption by making an informed, conscious, sustainable and solidarity
with the environment purchase, through the election of a car that allows
an efficient energy consumption.
The chairman of Profeco also said: “Ecovehículos will allow an informed
consumption because we will be able to know in a clear way which is the
annual spending of gasoline that represents a particular vehicle, as
well as how much pollutant is, and compare it with another product to
know which to buy. " He also said: "that purchase results in a conscious
and sustainable consumption, by choosing the option that harms less not
only the pocket, but the environment, for the benefit of this and future
generations, in Mexico as in the rest of the world.
Elvira Quesada referred: "the virtue of the Ecovehículos Portal is the
fact of how it integrates information that currently is generated in
various bodies of the federal government and it is used to guide the
decisions of consumers in order to incorporate voluntarily on it the
aspect of environmental sustainability. This tool does not create new
obligations for the automotive companies; however, they may use the
information derived of the Portal in order for the incorporation of
cleaner and more efficient technologies in manufactured or imported cars
to be recognized in the market.
Elvira Quesada added: "the merits made above the mandatory standard will
become on savings for consumers and market incentives for businesses,
which will now put on competition their vehicles under a new line of
competition: the environmental competitiveness."
Adrian Fernandez, President of the National Institute of Ecology, whose
team of environmental economists and experts on urban and global
pollution worked on the development of the Portal, highlighted the
contributions that were made by the different institutions that worked
together: “Profeco contributed their knowledge on how to best
communicate consumers the comparison between models, the Commission on
Energy Saving contributed its years of knowledge on vehicular energy
efficiency, the Environmental Protection Federal Agency (Profepa, by its
initials in Spanish language) contributed its databases about the
criteria emissions of pollutants of the models certified and authorized
to be sold in Mexico. We work all together to give to the citizens, to
consumers, one more tool to save and help the planet along the way. "
UNITED KINGDOM
Office of Fair Trading
www.oft.gov.uk
OFT launches consultation on irresponsible lending
The OFT has launched a public consultation on the scope of its project
looking at irresponsible lending in UK consumer credit markets.
The consultation follows major changes to the Consumer Credit Act, which
include the identification of irresponsible lending as a matter to which
the OFT must have regard when it considers businesses fitness to hold a
consumer credit licence.
Download
consultation paper (pdf 134 kb).
OFT welcomes first use of new consumer legislation in court
The OFT has welcomed the first use in court of new consumer protection
laws following a case against Wiltshire traders whose customers
complained of aggressive behaviour and poor quality work. Wiltshire
County Council's Trading Standards Department, with case support from
the OFT, became the first consumer protection organisation in the UK to
obtain an enforcement order under the new Consumer Protection from
Unfair Trading Regulations 2008.
OFT approves estate agents redress scheme
The OFT has approved the Ombudsman Service Limited's application to
operate an estate agents redress scheme, under the Consumer Estate
Agents and Redress Act 2007. The company will operate the Surveyors
Ombudsman Service as an approved estate agents redress scheme, and is
the second to receive OFT approval ahead of 1 October 2008, when it
becomes compulsory for all estate agents dealing with residential
property in the UK to join such a scheme.
Claims regulator and OFT issue consumer alert
The Claims Management Regulator at the Ministry of Justice and the
Office or Fair Trading (OFT) are warning consumers to think carefully
before responding to businesses claiming that they can arrange for
outstanding balances under loan, credit card and other consumer credit
agreements to be written off and secure compensation.
OFT Consumer Credit Register goes online
The OFT has launched an online version of its public register, making it
quicker and easier for businesses and consumers to search information
held on the Consumer Credit Register. View the
Consumer Credit Register. The Consumer Credit Register currently has
details of over 125,000 Consumer Credit Licence holders. Most businesses
that offer goods or services on credit, lend money to consumers or
provide debt solutions and advice to consumers must be licensed by the
OFT.
Car code completes Stage One of OFT Approval Scheme
The Motor Industry Service and Repair Code – which is backed by the
Society of Motor Manufacturers and Traders (SMMT) and the Retail Motor
Industry Federation (RMIF) - has successfully completed the first stage
of the OFT's Code approval process.
USA
Federal Trade Commission
http://www.ftc.gov
Commission Announces Workshop to Explore Scope of the Prohibition of
Unfair Methods of Competition Under Section 5 of the FTC Act
The FTC will host a workshop on October 17, 2008 to examine the scope of
the prohibition of unfair methods of competition in Section 5 of the FTC
Act, 15 U.S.C. Sec. 45. The workshop will consider the appropriate scope
of Section 5 in light of legal precedent, economic learning, and
changing business practices in a global and high-tech economy.
FTC Announces Workshop and Roundtable on Emerging Health Care
Competition and Consumer Protection Issues
Events to be Held in Washington, DC, This Fall; Public Comments
Solicited
FTC Acts Against Scammers Who Marketed Envelope-Stuffing Schemes to
Spanish-Speaking Consumers Across The Nation
The Federal Trade Commission has charged the marketer of a work-at-home
business opportunity with violating federal law by falsely promising
Spanish-speaking consumers substantial income for stuffing envelopes.
FTC to Host Public Workshop on Petroleum Market Manipulation Rulemaking
Parties Interested in Participating Must Submit Comment in Response to
Recent NPRM
Commission Denies Petition for Rulemaking Related to ‘Qualified
Intermediaries’ Under Internal Revenue Code Section 1031
The Commission has denied a petition by the Federation of Exchange
Accommodators (FEA) requesting that the FTC develop a Trade Regulation
Rule (Rule) related to Qualified Intermediaries (QIs).
Brothers Will Give Up Cash and Cars to Settle FTC Charges That Earnings
Claims for Their ‘Money-Making Secrets’ Misled Consumers
Two brothers have agreed to settle Federal Trade Commission charges that
they misled consumers with false earnings claims for work-at-home
schemes involving free government grants, mystery shopping, online
surveys, and data entry.
FTC to Host Workshop to Explore Consumer Protection and Privacy
Implications of Radio Frequency Identification Applications
The Federal Trade Commission will host a “Transatlantic RFID Workshop on
Consumer Privacy and Data Security” on September 23, 2008, to explore
emerging applications of radio frequency identification technology and
their implications for consumer protection policy.
Public Affairs Director Nancy Ness Judy to Leave FTC
Claudia Bourne Farrell Named Acting Director; Peter Kaplan Named Deputy
Director
FTC Issues Final Telemarketing Sales Rule Amendments Regarding
Prerecorded Calls
Rule Will Halt Prerecorded Sales Calls Unless the Seller Obtains
Consumer's Permission
Commission Approves Amended Complaint in Matter of Select Management
Solutions; FTC Approves Final Consent Order in Matter of Flow
International/OMAX
Commission approval of amended complaint – The Commission has
authorized the staff to file an amended complaint in the ongoing
litigation against Select Personnel Management, Inc., d/b/a
Select Management Solutions, and its principal James Stewart
and Flow International Corporation and OMAX Corporation.
FTC Approves Amended Complaint in Matter of Internet Listing Service
Corp., et al.; Commission Approves Amended Complaint in Matter of Med
Provisions
Commission approval of amended complaints – The Commission has
authorized the staff to file an amended complaint in the ongoing
litigation against Data Business Solutions Inc., also doing
business as Internet Listing Service Corp., ILS Corp., ILSCORP.NET,
Domain Listing Service Corp., DLS Corp., and DLSCORP.NET, and its
principals Ari Balabanian, Isaac Benlolo, and Kirk Mulveney.
Makers of Airborne Settle FTC Charges of Deceptive Advertising;
Agreement Brings Total Settlement Funds to $30 Million
Consumers Have Until September 15 to Apply for Refunds
FTC Seeks Comments on Proposed Rule Prohibiting Petroleum Market
Manipulation
Agency Reviewed 155 Comments Following Advance Notice of Proposed
Rulemaking
FTC to Announce Deceptive Marketing Case Against Nationally Known Maker
of Natural Health Remedy
The Federal Trade Commission will announce a multi-million dollar
consumer redress settlement against the maker of a well known natural
remedy.
Oregano Supplement Marketers Agree to Pay $2.5 Million to Settle FTC
Charges for False Advertising Claims
The marketers of a line of dietary supplements have agreed to pay $2.5
million to settle Federal Trade Commission charges that claims about
their oregano oil and capsules were false and unsubstantiated in
violation of federal law.
FTC Cautions Consumers About Voter Registration Scams
Have you received an unsolicited e-mail or phone call from someone who
claims to represent your local election board or civic group and asks
for your Social Security or credit card number to confirm your
eligibility or registration to vote?
‘Debt Meltdown Program’ Marketers Settle with FTC; Charged with Failing
to Deliver Promised Debt Reduction Services
Four companies and their principals, Robert and Miriam Lovinger, have
agreed to settle Federal Trade Commission charges that they deceptively
marketed a “debt settlement” program that failed to provide services
they claimed would reduce consumers’ debt.
Chief Administrative Law Judge for the FTC to Retire
Federal Trade Commission Chairman William E. Kovacic today announced
that Stephen J. McGuire, Chief Administrative Law Judge for the FTC, is
retiring after 31 years of public service.
Commission Approves Final Consent Order in Matter of The TJX Companies,
Inc.; FTC Approves Final Consent Order in the Matter of Reed Elsevier,
Inc. and Seisint, Inc.
Commission approval of final consent orders – Following a public
comment period, the Commission has approved the issuance of a final
consent order and authorized the staff to respond to the commenters of
record in the matter of The TJX Companies, Inc and Reed Elsevier
Inc. and Seisint, Inc.
July 2008
AUSTRALIA
Australian Competition and Consumer Commission
www.accc.gov.au
WA retailer supplies non-compliant bunk beds
The ACCC has accepted court enforceable undertakings from Living
Momentum Pty Ltd, which sold non-compliant bunk beds.
ACCC receives undertaking from sunglass retailer for non-compliance with
mandatory standard
The ACCC has accepted a court enforceable undertaking from Busby
Distribution Pty Ltd, trading as Aldo Australia, after it supplied
sunglasses that failed to comply with the prescribed mandatory product
safety standard.
ACCC / ASIC debt collection phone-in day
The ACCC and the Australian Securities and Investments Commission will
hold a phone-in day dedicated to debt collection concerns on Thursday
(31 July 2008).
"The Debt Collection Day is a
joint-initiative to assist consumers who have experienced problems with
debt collectors or creditors," ACCC Chairman, Mr Graeme Samuel, said.
ACCC accepts undertaking from Fairfax Digital Australia and New Zealand
Pty Ltd about 'free' services claims
Fairfax Digital Australia and New Zealand Pty Ltd has acknowledged
concerns by the ACCC that advertisements representing the Domain mobile
phone property listing search service as 'free', may have been
misleading.
Smartphone mobile data usage – consumers warned to check plans for usage
caps/excess charges
The emergence of new smartphone technology, such as the recent release
of the Apple iPhone 3G, has led the ACCC to issue a note of warning to
consumers. "The ACCC is particularly concerned that consumers may be
misled if they are not made sufficiently aware that their data
allocations can be exceeded - at significant cost.
ACCC alleges false, misleading and deceptive conduct by ATS All Trades
and Services
The ACCC has instituted legal proceedings against ATS All Trades and
Services Pty Ltd for alleged false, misleading and deceptive conduct, in
contravention of the Trade Practices Act 1974. It is alleged that
ATS All Trades and Services made misleading representations regarding
the quality and nature of the list of job opportunities provided to
members, the availability of discounts to members and the provision of a
webpage that would be displayed after conducting a Google search.
Diamond seller fined $220,000 for misleading consumers
On 9 July 2008 diamond merchant, Carrerabenz Diamond Industries Pty Ltd,
pleaded guilty in the Federal Court in Brisbane to 27 charges laid
against the company by the ACCC for misleading consumers in the
promotion of a series of diamond sales.
Non-compliant children's night gowns recalled
The ACCC has accepted court enforceable undertakings from Lincraft
Australia Pty Ltd and Cotton Dreams Pty Ltd after certain bath robes
imported by Cotton Dreams and sold in Lincraft stores failed to comply
with the mandatory safety standards for children's nightwear.
Mandatory pram and stroller standard commences
The ACCC has launched a consumer safety alert highlighting the new
mandatory standard for prams and strollers which came into effect 1 July
2008.
The new standard draws on
critical safety features of the Australian/New Zealand Standard for
prams and strollers, and was developed following tragic incidents where
children have been killed or injured when their strollers rolled away
from carers. It requires a tether strap to give carers a means of
restraining prams and strollers, in addition to a parking brake. There
is also a requirement for a restraint harness to prevent falls and
requirements to eliminate entrapment hazards.
CANADA
Competition Bureau
www.competitionbureau.gc.ca
Air Canada Responds to Competition Bureau Concerns by Clarifying Baggage
Fees
The Competition Bureau announced today that
its concerns have been fully resolved with Air Canada regarding
transparency on its Web site of the carrier’s additional fees levied on
checked baggage on Tango and Tango Plus flights. Effective May 15, 2008,
Air Canada's new checked baggage policy provides for a $25 fee for
checking a second bag on Tango and Tango Plus flights for North American
travel after July 15, 2008.
Canadian Scammers Extradited to the U.S. Receive Lengthy Prison
Sentences
The Competition Bureau announced today that
three Canadians who operated a deceptive telemarketing scheme based in
Toronto, which purported to offer credit cards to Americans for a fee
but never delivered the cards, have been found guilty. Two of the three
have been sentenced to a combined 42 years in prison by the U.S. Federal
Court in the Southern District of Illinois. This is the first time a
Competition Bureau investigation has resulted in extradition.
MEXICO
Consumer Protection Federal Agency (Profeco by its initials in Spanish
language)
http://www.profeco.gob.mx
Profeco starts the vacation and tourist National Program of Surveillance
and Verification 2008.
The Consumer Protection Federal Agency (Profeco, by its initials in
Spanish language) of Mexico starts the Surveillance and Verification
National Program 2008 with the aim of guaranteeing the rights of those
who acquire vacation packages and purchase seasonal products.
From July 9th to August 18th Profeco´s staff will
supervise that the providers of tourist services and providers of
products related to summer season exhibit prices, respect promotions and
fulfil the Mexican Official Standard (NOM, by its initials in Spanish
language) in the benefit of consumers.
POLAND
Office of Competition and Consumer Protection
www.uokik.gov.pl
New Vice President appointed for the OCCP
Poland's Prime Minister Donald Tusk appointed Ms Małgorzata Kozak Vice
President of the Office of Competition and Consumer Protection.
UNITED KINGDOM
Office of Fair Trading
www.oft.gov.uk
OFT stops misleading claims regarding 'fat burning beads'
The OFT has obtained assurances from a Hong Kong based company that it
will no longer market its 'fat burning' Accu-Slim Beads in the UK.
Global DM Licensing sent mailings
to UK consumers, under the name The AccuSlim Centre, claiming that the
Accu-Slim Bead was a 'fat burning acupuncture without needles, diets,
exercise, or effort'. It was claimed that by placing one Accu-Slim Bead
behind the ear each day users could eat as much as they liked and still
lose 'at least 30 pounds in the next 30 days' as the bead stimulated the
acupressure points that trigger 'automatic weight loss'.
Personal current account market not working well for consumers, says OFT
The market in personal current accounts is not working well for
consumers, the OFT said today in its report 'Personal current accounts
in the UK' which looks at the £8 billion industry.
The report found that much of banks' revenue from current accounts is
derived opaquely, with 81 per cent of income coming from two sources:
insufficient funds charges (£2.6bn) and net credit interest income
(£4.1bn). A significant number of customers do not know how much they
actually pay in bank charges, either before or after they are incurred.
Over three-quarters do not know the credit interest rate of their
current account, and even those that do lack the means to calculate the
interest they forgo.
Annual Report reveals OFT delivering financial benefits of six times its
cost
The OFT has published its Annual Report 2007-08, alongside its Positive
Impact Report which shows that the OFT is saving consumers around £326m
per year.
The OFT has a target of delivering financial benefits to consumers of at
least five times its cost to the taxpayer. The report reveals that the
OFT has exceeded this, and is currently delivering benefits of six times
its annual budget to consumers.
OFT wins landmark Dutch court case
In a landmark cross border case a Dutch court has granted the OFT an
injunction stopping Best Sales B.V., a mail order company, from sending
misleading prize draw mailings to UK consumers.
OFT stops misleading anti-impotency mailings
The OFT has obtained assurances from a Latvian company that it will no
longer promote and sell its impotency product, 'STIFF Strips', in the
UK.
S.I.H.N sent mailings to UK
consumers under the name of 'Reprohealth'. The mailings claimed that
STIFF Strips were 'five times more powerful than any other impotency
pill, spray or cure' and offered packs of STIFF Strips for up to £45 for
168 strips.
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