Federal Trade Commission (FTC)

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The Federal Trade Commission (FTC) announced a proposed consent order with Illusory Systems Inc. (Illusory), a Utah-based blockchain infrastructure company that operates the Nomad Token Bridge. The settlement resolves the FTC’s allegations that Illusory failed to live up to its stated data security commitments, leading to a 2022 cyberattack in which hackers stole approximately $186 million in crypto assets from platform users. Under the proposed order, Illusory must return to consumers any recovered funds and implement enhanced information security measures.

In this episode of our special 12 Days of Regulatory Insights podcast series, RISE Partner Clay Friedman is joined by colleague Christy Matelis — a member of the firm’s antitrust practice and former Utah assistant attorney general — to unpack what a newly reactivated FTC means for the year ahead.

On September 25, 2025, Amazon agreed to pay $2.5 billion to settle claims brought by the Federal Trade Commission (FTC) alleging that the company misled consumers into signing up for Prime memberships and made it difficult for them to cancel. The settlement, announced just days into the start of litigation between Amazon and FTC, includes $1 billion in penalties and $1.5 billion in restitution to customers, which the FTC described as one of the largest settlements in the agency’s history.

In this crossover episode of The Consumer Finance Podcast and Regulatory Oversight, Chris Willis is joined by Joseph DeFazio, Bill Foley, and Michael Yaghi to discuss the implications of New York’s FAIR Act, a significant amendment to the state’s UDAAP statute. The FAIR Act aims to broaden consumer protection by lowering the threshold for legal action against unfair and abusive business practices. With expanded enforcement powers for the state, this legislation could dramatically increase litigation risks for financial services companies operating in New York if the governor signs the bill. Tune in to understand how this legislative shift might affect the industry and what steps businesses can take to prepare.

The Federal Trade Commission (FTC) and the Utah Department of Commerce’s Division of Consumer Protection (Division), represented by the Office of the Utah Attorney General (AG), recently announced a proposed consent order with Aylo, the company that owns and operates pornography websites, including Pornhub.com and Redtube.com. The proposed consent order includes the implementation of a compliance program and a $5 million penalty.

On August 12, the Federal Trade Commission (FTC) ordered Match Group, owners and operators of online dating platforms such as Match.com, OkCupid, PlentyOfFish, The League, and others, to pay $14 million. This settlement resolves the FTC’s 2019 complaint accusing Match of misleading claims involving guarantees and onerous subscription cancellation processes, contrary to the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA).

Nevada Attorney General (AG) Aaron D. Ford recently announced that the State of Nevada and the Federal Trade Commission (FTC) have filed a suit against IYOVIA. IYOVIA currently operates under the brand names IM Mastery Academy, iMarketsLive, and IM Academy (collectively, “IML”) and is accused of falsely promising significant income through trading in various financial markets and through a multi-level marketing scheme.

On June 2, the Department of Justice, Antitrust Division, agreed to its first settlement of a merger challenged under the new administration, less than one week after the Federal Trade Commission (FTC) entered into its first such settlement. The consent decree will require the divestiture of three businesses and will allow Keysight Technologies, Inc. to complete its proposed $1.5 billion acquisition of Spirent Communications plc.

Several state attorneys general (AGs) and the Federal Trade Commission (FTC) have begun scrutinizing ancestry tracking company 23andMe following its recent announcement that it has filed for Chapter 11 bankruptcy. As part of these efforts, the AGs have issued alerts on ways consumers can exercise their rights under state privacy laws, and the FTC has issued letters stressing potential risks to U.S. bankruptcy trustees. 23andMe, which was founded in 2006, has collected DNA and associated genetic material on seven million American customers to provide information related to those customers’ ancestry.