Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
FTC warns advertisers: honest opinions only
Last week, for-profit colleges and universities received warnings from the Federal Trade Commission. Yesterday, the FTC delivered a shot across the bow of advertisers. The Commission sent a warning letter with a Notice of Penalty Offenses Concerning Endorsements and Testimonials to more than 700 companies with the message that they could incur significant civil penalties—up to $43,792 per violation—if they use endorsements in ways that run counter to prior FTC administrative cases.
The Notice sent to the companies outlines a number of practices that the FTC determined to be unfair or deceptive in prior administrative cases. These include, but are not limited to:
- falsely claiming an endorsement by a third party
- misrepresenting whether an endorser is an actual, current, or recent user
- using an endorsement to make deceptive performance claims
- failing to disclose an unexpected material connection with an endorser
- misrepresenting that the experience of endorsers represents consumers’ typical or ordinary experience
The Commission's press release included a disclaimer that a company's inclusion on the list of letter recipients does not suggest it has engaged in deceptive or unfair conduct.