Latest news with #consumerProtection
The Guardian
9 hours ago
- Business
- The Guardian
UK watchdog threatens Ticketmaster with legal action over way Oasis tickets were sold
The UK competition watchdog has written to Ticketmaster threatening legal action over the way it sold more than 900,000 tickets for Oasis's reunion tour, days before what is expected to be the most popular, and profitable, run of gigs in British history kicks off. In March, the Competition and Markets Authority (CMA) published concerns that Ticketmaster may have misled fans, some of whom paid more than £350 for tickets with a face value of £150, in the way it priced tickets for the band's comeback gigs when they went on sale last August. In response, Ticketmaster said it had made changes to 'some aspects' of its ticket sales process. However, the CMA said that they were not sufficient to address its concerns. The CMA told Ticketmaster the voluntary undertakings it would accept to address its concerns. In a letter to the business and trade select committee – which has been investigating ticket pricing, competition and consumer protection – the CMA said it received a response from Ticketmaster this month. 'Having carefully considered Ticketmaster's response, the CMA's view is that there is a fundamental disagreement … about whether Ticketmaster's practices infringed consumer law,' the CMA said in a section of its submission relating to the Oasis investigation, published on Wednesday. 'Ticketmaster has declined to provide undertakings in the terms sought by the CMA or indicate whether there is a form of undertakings which it would be prepared to offer.' The CMA is concerned that the ticketing company may have breached consumer protection law by labelling certain seats as 'platinum', and selling them for almost 2.5 times the price of standard equivalent tickets, without sufficiently explaining that they did not offer any additional benefits and were often located in the same area of a stadium as standard tickets. The regulator also said fans were not informed there were two categories of standing tickets at different prices, with many waiting lengthy periods in online queues without understanding they would be paying much higher prices than they expected. It also said that while it had not found evidence that Ticketmaster used an algorithmic 'dynamic' pricing model during the Oasis sale it was concerned that consumers were 'not given clear and timely information about how the pricing of standing tickets would work'. The CMA said that the failure of the consultation process with Ticketmaster means that it is now in a position to look at taking legal action. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion 'The CMA has written to Ticketmaster to confirm that it has now discharged its obligation to consult with Ticketmaster and, given that no undertakings have been offered or agreed, is now preparing to litigate the matter if necessary,' it said in the letter. 'The CMA will, in parallel, continue to engage with Ticketmaster in an effort to secure a voluntary resolution, should it indicate a clear and timely commitment to do so.' The much-anticipated tour, which reunites Noel and Liam Gallagher after years of fractious relations, will kick off on Friday in Cardiff. Ticketmaster has been approached for comment.
Yahoo
16 hours ago
- Automotive
- Yahoo
Tesla subsidiary hit with potential fines for misleading customers about vehicles' capabilities: 'Deceptive commercial practices'
Tesla faces the possibility of fines after a French agency found the company had used "deceptive commercial practices." France's agency for fraud prevention and consumer protection says Tesla's subsidiary in the country committed "deceptive commercial practices regarding the fully autonomous driving capabilities of Tesla vehicles, the availability of certain options, and vehicle trade-in offers," Agence France-Presse reported in late June. A number of consumer complaints are said to have prompted the investigation into the electric vehicle pioneer between 2023 and 2024. The agency found that Tesla also committed numerous other violations, according to AFP, including delays in refunding canceled orders and incomplete sales contracts. The company was given four months to stop the cited practices or face daily fines of $58,000 USD, the agency said. Fully autonomous cars have been intended to be central to Tesla's future. Chief executive officer Elon Musk said as much during the company's first-quarter results call earlier this year, specifying that he expects "millions of Teslas operating autonomously, fully autonomously, in the second half of next year." So far, however, that plan has hit some speed bumps. After delays, Tesla's much-anticipated robotaxi service launched in late June in Austin, Texas. But the launch came with several glitches, including vehicles dropping passengers off in the middle of multi-lane roads. The company also faces stiff competition in the autonomous space. Most notably, Waymo is already providing driverless rides in Los Angeles, San Francisco, Phoenix, Atlanta, and Austin. This also isn't Tesla's first piece of troubling news out of France this year, as the automaker's sales have plummeted in the country. In April, Tesla's sales in France were down 59%, compared to April 2024 — a trend the company has seen across Europe. Any news that might make buyers second-guess purchasing an EV could be concerning to clean energy advocates, many of whom continue to stress the role of sustainable transportation in supporting a global transition to renewable sources. If you were going to purchase an EV, which of these factors would be most important to you? Cost Battery range Power and speed The way it looks Click your choice to see results and speak your mind. Fortunately, even though Tesla's numbers have slumped, global EV sales continue to see gains. As a buyer, now may be the perfect time to switch from a gas-powered vehicle to an EV. Not only do electric cars produce zero tailpipe pollution and roughly half as much pollution total, making them considerably better for the environment and human health, but they're also becoming more affordable in many parts of the world. And a variety of options on the market now means consumers could have more choices in purchasing the vehicle that's right for them. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Reuters
21 hours ago
- Business
- Reuters
US consumer watchdog scraps $95 million 'illegal fees' settlement with Navy Federal Credit Union
WASHINGTON, July 1 (Reuters) - The top U.S. watchdog agency for consumer finance this week canceled a $95 million settlement reached last year with Navy Federal Credit Union, a lender officials in the prior administration had accused of illegally charging surprise overdraft fees, according to an order published on Tuesday. In a separate order also published on Tuesday, the CFPB likewise canceled a November action against the nonbank mortgage company Fay Servicing over alleged violations of mortgage servicing laws. The decisions were the latest moves by the U.S. Consumer Financial Protection Bureau to undo cases already concluded by the agency, which President Donald Trump has sought to shrink drastically if not eliminate outright. The CFPB last month exited its corporate monitorship of Bank of America (BAC.N), opens new tab from a 2023 settlement and in May canceled a settlement with Toyota from the same year over allegations of pushing car buyers into unwanted product bundles. Representatives for both companies welcomed the news, saying they were committed to properly serving their customers. "Navy Federal complied with all applicable laws and regulations at the time and continues to do so. We firmly believe the CFPB's decision to terminate the order was appropriate," a spokesperson for the credit union said. The CFPB did not immediately respond to requests for comment. Navy Federal primarily services military service members, veterans, civilian employees of the military and their families. In an internal memo in April, CFPB Chief Legal Officer Mark Paoletta said the agency would focus its reduced resources on "pressing threats to consumers, particularly service members and their families and veterans." In November, the CFPB had ordered Navy Federal to pay $95 million, including $80 million in redress to consumers over allegations the credit union charged depositors whose accounts had sufficient funds at the time of a purchase but fell into the red by the time the charge later posted to their accounts. The CFPB also said depositors paid fees if they drew on funds received via services like PayPal and CashApp and the credit union's system incorrectly told them the funds were immediately available to spend. In an order signed Tuesday, CFPB acting Director Russell Vought said the November order was terminated, including provisions requiring redress payments to allegedly harmed consumers. However the similar order concerning Fay Servicing indicated the CFPB would distribute $3 million in redress payments specific to that case. (This story has been corrected to say that the orders were published on Tuesday, not Wednesday, in paragraphs 1-2)
Globe and Mail
3 days ago
- Business
- Globe and Mail
Judge moves forward with Tim Hortons Roll Up to Win class action for Quebec residents
A judge has authorized a class-action lawsuit over emails Tim Hortons sent out in error to participants in its popular Roll Up to Win promotion – but only for Quebec residents. Montreal-based firm LPC Avocats claims some half-million customers across Canada received an email in April 2024 saying they had won a boat through the promotion, only to be told later this wasn't the case. The law firm says those clients should be awarded the boat and trailer they were told they won, plus damages. It says the prize's value is about $64,000. Superior Court Justice Donald Bisson ruled last week that the class action can move forward, but limited it to Quebec residents because the case hinges on that province's consumer protection laws. 'Indeed, and among other things, according to the court, refusing to give the boats to those who were told they had won them – and even not offering them anything else – could destroy the public's trust in mobile app contests and justifies the claim for requested punitive damages,' Bisson wrote in a judgment dated Friday. The ruling cited statements by people who described celebrating the news of their 'win' with family and Tim Hortons staff, only to be crushed to learn later that they hadn't won. In a phone interview, lawyer Joey Zukran said the company didn't offer customers 'even one free coffee' in return for the mistake. 'They took the loyalty of their customers for granted, they laughed at them, instead of offering them some form of compensation that maybe would have prevented the filing of a class action,' he said in a phone interview. He says the Quebec consumer protection law states merchants and not customers should be held responsible for errors. A spokesperson for Tim Hortons says the company apologized last year to the customers who received the email, and declined to comment further because the case is before the courts. 'We apologized last year after some guests received an email in which some prizes that they did not win were included in their contest recap,' communications director Michael Oliveira wrote in an email on Sunday. 'We know that the millions of prizes won in the contest were distributed to winners accurately and as per our contest rules.' According to the court decision, the lead plaintiff in the suit received an email on April 17, 2024 informing him that he'd won a Tracker Targa 18 WT 2024 boat and its trailer as part of the Roll Up To Win promotion. Later that day, the company sent out a second email blaming 'technical errors' for the fact that clients had been incorrectly informed they'd won certain prizes. The company also apologized for the frustration. According to Friday's decision, the company argued in part that the communications did not constitute a consumer contract, and therefore should not fall under consumer protection laws. Bisson rejected that argument, noting the promotion required consumers to purchase something to enter. However, he said the company would have the opportunity to argue its case in detail when it is heard on its merits. The judge added that 'an error in Tim Hortons' declaration or a defect in its systems does not exempt it from liability' under Quebec consumer protection laws. Zukran says he isn't sure how many people will be members of the lawsuit under the narrowed criteria. He said he has three months to file the formal lawsuit, called an originating application. The litigation could take a few years to wind its way through the courts unless the company settles, he added.
CBC
3 days ago
- Business
- CBC
Judge authorizes Tim Hortons Roll Up to Win class action — but only for Quebec customers
A judge has authorized a class action lawsuit over emails Tim Hortons sent out in error to participants in its popular Roll Up to Win promotion — but only for Quebec residents. Montreal-based firm LPC Avocats claims some 500,000 customers across Canada received an email in April 2024 saying they had won a boat through the promotion. Superior Court Justice Donald Bisson ruled last week that the class action can move forward, but limited it to Quebec residents because the case hinges on that province's consumer protection laws. Lawyer Joey Zukran says his clients should be awarded the boat and trailer they were told they won, plus damages. He says the Quebec law states that merchants and not customers should be held responsible for errors.
