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Financial Services Law Insights and Observations

FTC to release closing letters on investigations

Federal Issues FTC Consumer Finance Consumer Protection

Federal Issues

On May 24, the FTC announced that it will be releasing closing letters—letters from FTC staff telling a company or individual that the FTC is closing its investigation into their conduct—which “may supplement law enforcement with other methods, including consumer education, business guidance, warning letters, national workshops, reports.” However, the text in the letters make it clear that the “FTC reserves the right to take further action as the public interest may require.” The FTC also notes that although the closing letters “serve a narrow purpose,” they often include a guide that can help other companies with their own compliance efforts.

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