In Brief: Colo. Firm Sued Over Financial Data Sales

In the first case of its kind, the Federal Trade Commission sued a Denver company Thursday, claiming it illegally obtained and sold private financial information about consumers.

The FTC charges that Touch Tone Information Inc. of Denver called banks under false pretenses to obtain people's account numbers and balances and sold the information on the Internet. In the complaint, filed in U.S. District Court in Denver, the agency seeks an injunction and all illegally gained profits.

House Banking Committee Chairman Jim Leach said the FTC case "highlights the need to strengthen U.S. laws on pretext calling."

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER