![]() Read today’s bulletin, Unfair and Deceptive Acts or Practices That Impede Consumer Reviews. Violations are subject to civil penalties and other legal consequences. The FTC recently voted to put hundreds of businesses on notice about fake reviews and misleading endorsements, which may result in significant penalties against marketers that engage in this misconduct.īanks and financial companies should ensure that their customer review practices comply with all applicable laws, including the Consumer Financial Protection Act. Today’s effort is related to the Federal Trade Commission’s efforts to deter fake reviews and related fraud across the digital economy. The guidance explains why these practices may be unlawful. Review Suppression or Manipulation: Consumers cannot easily shop and compare products and services when firms engage in practices to limit the posting of negative reviews or manipulate reviews to trick or confuse consumers.Laundering fake reviews in ways that appear completely independent from the company to improve their ratings may constitute a deceptive practice. Ancora Financial Is this your company Overview 4 Reviews - Jobs 2 Salaries - Interviews - Benefits - Photos + Add a Salary Hear more from the community about pay at Ancora Financial Join the conversation on Engage in conversations about pay with other professionals in the community. Fake Reviews: Markets can be harmed if consumers cannot trust that online reviews are legitimate. ![]() Banks and financial companies that include clauses in form contracts that forbid a consumer from posting an honest review may be engaged in unfair or deceptive practices. ![]()
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