New York, NY – July 6, 2023 – A panel of the National Advertising Review Board (NARB), the appellate advertising body of BBB National Programs, determined that Charter Communications, Inc.’s quantified speed claims do not mislead reasonable consumers. Examples of those claims include:
- “Ultra-Fast speeds of 400 Mbps”
- “Super-fast reliable speeds of 200 Mbps to power all your devices with no data caps”
The advertising at issue had been challenged at BBB National Programs’ National Advertising Division (NAD) by Frontier Communications Parent, Inc. Frontier offers residential internet service using fiber and DSL services over copper phone wire. Charter offers its residential internet service as Spectrum internet through a hybrid fiber coaxial network.
Following NAD’s decision (Case No. 7153), Charter appealed NAD’s recommendations to qualify its speed claims to indicate whether the speed claims refer to download or upload speeds. In support of its recommendation, NAD had concluded that both download and upload speeds are material considerations for consumers when selecting an internet service provider (ISP).
A majority of the NARB panel disagreed with NAD’s recommendation in the underlying decision, crediting Charter’s argument that it has been an industry practice for approximately two decades that quantified speed references in ISP advertising communicate download speeds. Absent any evidence of consumer confusion, the NARB panel concluded the challenged quantified speed claims made by Charter do not mislead reasonable consumers. One panel member dissented and found that the quantified speed claims, in context, were ambiguous, and could convey to reasonable consumers that the “speed” reference is to both upload and download speeds.
Charter stated that it “delivers speed tier options up to 1 Gbps to all of its customers and welcomes the appellate panel’s decision to set aside NAD’s recommendation with respect to the industry-standard manner in which these speed tier options are advertised.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Review Board (NARB): The National Advertising Review Board (NARB) is the appellate body for BBB National Programs’ advertising self-regulatory programs. NARB’s panel members include 85 distinguished volunteer professionals from the national advertising industry, agencies, and public members, such as academics and former members of the public sector. NARB serves as a layer of independent industry peer review that helps engender trust and compliance in NAD, CARU, and DSSRC matters.
Contact Information
Name: Jennie Rosenberg
Email: jrosenberg@bbbnp.org
Job Title: Media Relations
Direct Selling Self-Regulatory Council Refers iCoinPro Earnings Claims to the FTC and Nevada Office of the Attorney General for Possible Enforcement Action
McLean, VA – July 5, 2023 – The Direct Selling Self-Regulatory Council (DSSRC) of BBB National Programs has referred direct selling company iCoinPro to the Federal Trade Commission (FTC) for possible enforcement action. The referral comes after iCoinPro failed to substantively respond to a DSSRC inquiry into aggressive earnings claims made on social media by iCoinPro salesforce members and on the iCoinPro public website.
DSSRC is an independent national advertising self-regulation program that monitors advertising and marketing claims in the direct selling industry. iCoinPro is a multi-level direct selling company that markets education, information, and training for cryptocurrency services.
At issue are social media earnings claims as well as testimonial claims on the iCoinPro website indicating that iCoinPro salesforce members can earn significant income and achieve financial freedom by participating in the iCoinPro business opportunity. Claims included:
- “With the launch of our new and improved iCoinPro 2020 system you can potentially make money with bitcoin and crypto currencies literally anywhere – on the Beach, at the Pool, or at Home on your computer, any where you choose! The world is your oyster…” Video with copy stating “People are making a FORTUNE with cryptocurrency all over the world”
- “Being debt free and living comfortably without the worry of financial obligations is all we’ve wanted and to live it now is a blessing!”
- “Create time and financial freedom”
- “Are you needing more financial freedom? Have you ever heard of Better Crypto/iCoinPro? I have a great opportunity for you right now! Many have been doing very well in this space and are planning on building a big team in this.”
- “If you’re interested in the future of money or want to be able to get some extra income or replace your own and live free from a day job take a look at this educational program.”
- “I worked a 9 to 5 job for 20 plus years! Did I find it rewarding? NO…I share my journey to show others that there’s opportunity beyond 9 to 5 job, opportunity to gain extra funds if that’s what you need, opportunity to be your own BOSS!!”
- “Earn 4k a month without enrolling a single person”
- “Financial Freedom is knocking. And it’s name is THE MICRO PROFIT SYSTEM.”
- “This program has helped me make profits daily whether the market is up or down. You can also earn residual commission income.”
- This is a perfect opportunity for you to invite your friends, family and anyone else that wants to see how we are teaching people the skills they can use to make a full time income from the comfort of their own home.
DSSRC expressed its concern that such earnings claims convey the message that the typical salesforce member can generally expect to earn significant, if not life-changing, income. After the inquiry was opened, DSSRC continued to identify additional claims proliferating on social media and the iCoinPro website stating that potential salesforce members can earn significant income from participating in the iCoinPro business opportunity.
Despite multiple attempts by DSSRC to engage with iCoinPro, the Company failed to substantively respond to DSSRC’s inquiry and made no efforts to substantiate the claims or meaningfully participate in the self-regulatory process. Pursuant to DSSRC Policies and Procedures, iCoinPro has now been referred to the FTC and the Nevada Office of the Attorney General for possible enforcement action.
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of DSSRC decisions, visit the DSSRC Cases and Closures webpage.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the Direct Selling Self-Regulatory Council: The Direct Selling Self-Regulatory Council (DSSRC), a division of BBB National Programs, provides independent, impartial monitoring, dispute resolution, and enforcement of false product claims and income representations made by direct selling companies and their salesforce members across digital platforms. The DSSRC seeks to establish high standards of integrity and business ethics for all direct selling companies in the marketplace.
Contact Information
Name: Jennie Rosenberg
Email: jrosenberg@bbbnp.org
Job Title: Media Relations
National Advertising Division Recommends Tiburon Insurance Services Discontinue or Modify Certain Advertising Claims for The Medicare Helpline
New York, NY – July 5, 2023 – The National Advertising Division (NAD) of BBB National Programs recommended that Tiburon Insurance Services modify or discontinue certain savings and benefits claims for The Medicare Helpline, the company’s Medicare Advantage offering.
Through its routine monitoring program, NAD challenged claims regarding Medicare Advantage plans offered by Tiburon to consumers, with claims including:
- “Save up to $1748 per year.”
- “Save more than $1000 per year.”
- “No Co-Pays. No Deductibles. No Monthly Premiums.”
Tiburon, operating under The Medicare Helpline, offers Medicare Advantage plans to consumers, which are private insurance plans offered by Medicare-approved private companies. Although Medicare Advantage plans may offer greater benefits than Medicare, consumers may also be subjected to greater restrictions, such as limitations on in-network healthcare providers and cost variations. Participants in Medicare Advantage programs may or may not save money depending on their personal needs and selected plan.
No Fees Claims
The challenged commercials generally promised various savings and additional benefits such as free hearing aids, eyeglasses, prescription delivery, gym memberships, rides to medical appointments, and more, all without additional cost. For example, one commercial states, “You could be eligible for a Medicare Advantage Plan with no co-pays, no deductibles, and no monthly premiums. That’s no, as in zero!” However, several long disclaimers in tiny print reveal that there may be significant limitations, that projected savings may not be realized, that there are required co-payments, and that other restrictions may apply.
NAD found that the challenged commercials convey an unqualified message that consumers would receive savings and benefits without material limitations. Further, NAD noted that the numerous written disclosures contain important, material information. However, the disclosures were illegible because they were compressed within a large block of text in tiny font.
In addition, NAD concluded that while the main claim boldly states that there are no copayments, no premiums, and no deductibles, the disclosure states exactly the opposite. It is well-established that a disclosure cannot contradict the main message of a claim.
For these reasons, NAD recommended that Tiburon:
- Discontinue the claim that there are no copayments, premiums, and deductibles as well as the claim that consumers could obtain benefits and savings without material limitations or restrictions;
- Or in the alternative, modify the claim to clearly and conspicuously disclose within the body of the main claim itself that only some consumers may be eligible for a plan without copayments, premiums, and deductibles and many of the benefits are subject to material limitations and restrictions.
Savings Claim
Based on the evidence in the record, NAD concluded that Tiburon cannot support the “save up to $1748 per year” or “you may be eligible to save over $1748 per year” claims and recommended that they be discontinued.
Official Helpline Claim
NAD considered whether consumers could mistake Tiburon to be the official government helpline for Medicare despite small print disclosures stating that The Medicare Helpline is “A non-government website powered by Tiburon” and that “The Medicare Helpline is not affiliated with or acting on behalf of any government agency or program.”
NAD determined that various elements of the commercial contribute to the misleading message that may be conveyed by the name “Medicare Helpline.” Because these elements reasonably convey the message that Tiburon is an official government entity and the disclosures are ineffective, NAD recommended that Tiburon clearly and conspicuously disclose that it is not affiliated with an official government entity and discontinue any context that conveys the message that it is a government entity.
Sales Agent Claim
The voiceover in the commercials encourage consumers to call The Medicare Helpline to discuss Medicare Advantage eligibility. NAD found this language communicated that consumers will be able to speak to a helpline representative about Medicare Advantage. However, a disclosure informs consumers that in lieu of a licensed insurance agent answering, the call may be “sold” to another insurance agent who may not offer Medicare Advantage at all.
Because this disclosure contradicts the main claim, NAD recommended that Tiburon modify its advertising to avoid conveying a misleading message about the calls to its sales agents.
NAD noted that during the proceeding, Tiburon voluntarily agreed to permanently discontinue the “Save more than $1,000 per year” claim. Therefore, this claim was not reviewed on the merits.
In its advertiser statement, Tiburon stated that it “supports the NAD regulatory process and will voluntarily comply with NAD’s recommendation.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
This shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact Information
Name: Jennie Rosenberg
Email: jrosenberg@bbbnp.org
Job Title: Media Relations
Abbott Nutrition Voluntarily Discontinues “#1 Infant Formula” Claim for Similac in National Advertising Division Fast-Track SWIFT Case
New York, NY – June 29, 2023 – The National Advertising Division (NAD) of BBB National Programs has closed a Fast-Track SWIFT challenge initiated by Mead Johnson & Company, LLC. Fast-Track SWIFT is an expedited challenge process designed for single-issue advertising cases brought to NAD.
Mead Johnson & Company, LLC challenged Abbott Nutrition’s claim that Similac is the “#1 infant formula brand,” which appeared on the Similac product label. Mead Johnson argued the challenged claim conveyed the unsupported message that Similac is the “#1 infant formula brand” (with and without a caduceus) based on sales or doctor recommendations.
In response to Mead Johnson’s SWIFT challenge, Abbott Nutrition informed NAD that it has discontinued the challenged claim on the product packaging. Therefore, NAD did not review this claim on its merits.
In its advertiser statement, Abbott Nutrition stated that “as part of its process of routinely reviewing and updating its advertising, Abbott Laboratories has agreed to voluntarily discontinue the claim at issue at this time and has already made significant efforts to do so.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
This press release shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact Information
Name: Jennie Rosenberg
Email: jrosenberg@bbbnp.org
Job Title: Media Relations
Dotdash Meredith Removes InStyle Article for Biossance Eye Cream Following National Advertising Division Inquiry
New York, NY – June 29, 2023 – Through its routine monitoring program, BBB National Programs’ National Advertising Division (NAD) inquired about a claim made in the InStyle article “Biossance Squalane & Marine Algae Cream.” InStyle is part of the Dotdash Meredith publishing family. Dotdash Meredith stated that it has permanently removed the article from the InStyle website and all of its other distribution channels “for business reasons independent of the NAD inquiry.”
NAD’s inquiry focused on whether the format of the challenged advertising reasonably conveyed the message that the “Reese Witherspoon-Approved” eye cream and product performance claims are editorial content when, in fact, they are advertisements. Further, NAD questioned whether Ms. Witherspoon’s status as a Biossance brand ambassador is clearly and conspicuously disclosed.
NAD noted that it is important to provide consumers with enough information about any economic relationships between online media and publishing and the brand or product so that consumers can decide what weight to give the information. To the extent a digital publisher creates content that is influenced by its affiliate marketing relationships, the content is advertising. Similarly, if content is created because of the affiliate relationship, the content is promotional and is advertising.
Due to the financial incentives underlying the content Dotdash Meredith delivers, NAD cautioned the advertiser to evaluate its business relationships with brands or products about which it is writing and determine whether the content is advertising or editorial and, if it is advertising, to label it as such.
In its advertiser statement, Dotdash Meredith stated that it is committed “to editorial integrity and transparency, including by ensuring that its editorial content is not influenced by commercial interests” and thanked NAD for “engaging with us on these issues and providing additional guidance to the publishing industry as practices and standards continue to evolve.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
This shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact Information
Name: Jennie Rosenberg
Email: jrosenberg@bbbnp.org
Job Title: Media Relations
Aya Healthcare Rebrands DocCafe, Expands Platform Reach
San Diego, CA — Aya Healthcare, the largest healthcare talent software and staffing company in the U.S., is pleased to announce the rebranding of DocCafe, its premier physician talent acquisition platform. DocCafe’s advanced recruitment solutions provide healthcare facilities access to the nation’s most extensive and active talent pool of over 100,000 highly qualified physicians conducting 11,500 monthly applications, ensuring timely fulfillment of their permanent vacancies.
Since DocCafe’s acquisition in 2022, Aya has increased its investments to revitalize the platform, employing advanced digital engagement and personalized algorithms to facilitate exceptional candidate matching. DocCafe is the only platform providing real-time physician engagement data, empowering healthcare facilities to make data-informed decisions to optimize cost and increase fulfillment. In addition, the rebranded platform now extends its reach beyond physicians to advanced practice professionals (APPs), including physician assistants, certified registered nurse anesthetists, nurse practitioners and midwives. This comprehensive solution taps into an engaged user base actively seeking new opportunities, directly connecting them with leading facilities across the country.
“Aya’s investment in DocCafe has enabled it to become an indispensable digital physician recruitment solution for leading healthcare organizations,” said Mike York, Executive Vice President and DocCafe business unit leader. “DocCafe has more active physicians looking for work than any other platform. We are leveraging Aya Healthcare’s scale and resources to further drive innovation and deliver best-in-class solutions for organizations seeking to recruit physicians and advanced practice professionals.”
DocCafe is a complement to Aya Locums, Aya Healthcare’s digital locum tenens recruitment platform and end-to-end solution for managing locum utilization and spend.
To explore the newly rebranded DocCafe, visit https://www.doccafe.com/
###
About DocCafe
DocCafe is the premier talent acquisition platform for physicians, PAs, CRNAs and NPs. With the nation’s most extensive network of over 100,000 active physician jobseekers submitting over 11,500 applications monthly, the platform’s sophisticated digital recruitment solutions drive candidate engagement and makes it easy for healthcare facilities to fill job openings quickly. DocCafe is quick to get started and easy to use to source candidates at scale. Visit www.doccafe.com to explore our platform and unlock access to the largest network of ready-to-hire practicing physicians and advanced practice professionals.
DocCafe’s cutting-edge digital recruitment solutions are designed to maximize candidate engagement, providing healthcare organizations with a streamlined hiring process. By joining DocCafe, you’ll gain access to the nation’s largest network of active physician and advanced practice professionals. Visit www.doccafe.com to learn more and get started.
Contact Information
Name: Rebecca Kelley
Email: Rebecca.Kelley@ayahealthcare.com
Job Title: Public Relations Manager
National Advertising Review Board Recommends that Certain Claims for One Health Certified Poultry Products be Discontinued
New York, NY – June 28, 2023 – A panel of the National Advertising Review Board (NARB), the appellate advertising body of BBB National Programs, recommended that One Health Certification Foundation (OHC), an Iowa non-profit responsible for the One Health Certified standard, discontinue certain animal welfare, antibiotic use, and environmental impact claims used on the OHC website and label.
The advertising at issue had been challenged by The American Society for the Prevention of Cruelty to Animals, a non-profit corporation, and the Antibiotic Resistance Action Center, an academic organization housed in the Milken Institute School of Public Health at George Washington University. Following NAD’s decision (Case No. 7129), OHC appealed NAD’s recommendations to discontinue specific claims regarding its animal care certification system.
In agreement with NAD, the NARB panel concluded that the claims at issue are misleading and determined that the OHC label conveys to reasonable consumers that OHC’s poultry care standards exceed industry norms, even though they are similar to industry standards. The NARB panel further found that the claims communicated by the label are not properly clarified through a link on the label directing consumers to its website for additional information.
The NARB panel recommended that OHC discontinue:
- Certain express animal welfare claims as well as modify its label and website to avoid conveying that OHC-certified producers maintain the most, or one of the most rigorous animal welfare programs among chicken and turkey producers, or that OHC significantly exceeds industry animal welfare standards.
- “Antibiotic restrictions” and “responsible antibiotic use” claims as well as modify its label and website to avoid conveying that OHC-certified producers use antibiotics more judiciously than the industry standard and significantly exceed industry antibiotic use standards.
- “Supports environmental stewardship classes in order to minimize the impact of animal production on the environment,” and its “environmental impact” claim as well as modify its label and website to avoid conveying that OHC exceeds industry standards for environmental stewardship, OHC-certified farmers and producers use environmentally friendly production practices, and OHC-certified producers do not employ production practices that are harmful to the environment.
OHC stated that it “believes the claims at issue in its NARB appeal clearly convey to consumers what the OHC program entails, and we respectfully disagree with the NARB’s finding that the claims are misleading. That said, OHC appreciates the NARB’s time and attention to this matter.” OHC further stated, “we intend to update OHC’s website in accordance with the NARB’s recommendations” and noted that it will “engage with USDA to ensure that the seal itself is truthful and not misleading, consistent with the NARB’s recommendations.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Review Board (NARB): The National Advertising Review Board (NARB) is the appellate body for BBB National Programs’ advertising self-regulatory programs. NARB’s panel members include 85 distinguished volunteer professionals from the national advertising industry, agencies, and public members, such as academics and former members of the public sector. NARB serves as a layer of independent industry peer review that helps engender trust and compliance in NAD, CARU, and DSSRC matters.
Contact Information
Name: Jennie Rosenberg
Email: jrosenberg@bbbnp.org
Job Title: Media Relations
Latest ENTERVAL Analytics, LLC® Data Shows Rebounding Private Student Loan Originations and Consistent Repayment Trends
Use of Forbearance Decreases and Default Rates are Normalizing to Pre-Pandemic Levels
June 27, 2023 – Enterval Analytics, LLC, has released the 20th edition of the bi-annual Private Student Loan Report (“Report”). The latest Report represents data contributions of fourteen private student loan lenders representing 65% of outstanding private student loans in the United States. The Report again shows students and families are responsibly utilizing private student loans to cover college costs.
Private student loan originations increased 10.21% year-over-year in AYTD 2022/23 for a total of $9.28 billion. The vast majority of borrowers continue to effectively manage private student loans. Gross charge-offs have stabilized at 2.44% and forbearance utilization remained extremely low at 1.36%. Early-stage delinquencies rates rose in Q4 2022 and are now normalizing at 2.86%, not far from the pre-pandemic average of 2.57%. Late-stage delinquency levels are 1.44%, consistent with pre-pandemic levels.
“The strength and stability of the private student loan market remains consistent and repayment trends continue to normalize to pre-pandemic levels,” said John Falb, CEO of Enterval Analytics. “While the payment pause on federal loans is set to expire later this summer, we are not expecting a significant impact on private student loan market performance. Private lenders assess the ability to repay through underwriting, which considers federal student loan obligations. Given the continued strength in the US labor market, a mild recession should have limited impacts.”
In addition to being fully underwritten to assess creditworthiness and ability to repay, private student loans are also school-certified, and 87.72% are cosigned. Approximately 7.30% of total student loans outstanding as of Q1 2023 are private student loans, which includes refinance, in-school, and parent loans. The remaining 92.70% of the $1.76 trillion in student loans are owned or guaranteed by the U.S. Department of Education. The Report reflects data as of Q1 2023 for in-school private student loans only and the performance metrics do not include federal student loan data.
The bi-annual Report includes continuous contributions from the five largest private student loan lenders and holders: Citizens Bank, N.A., Discover Bank, Navient, PNC Bank, N.A., and Sallie Mae Bank. In addition, the Report includes data from nine other student lender contributors. In total, these contributors represent most of the in-school originations and a majority of the private student loans outstanding in the U.S.
About Enterval Analytics, LLC.
Enterval Analytics was formed to provide industry leading research, tools, and insights for the private student loan market. Previously, the private student loan report was published by MeasureOne. In 2021, Enterval acquired certain reporting assets of MeasureOne and has assumed the lead in creating this Report.
Enterval has a dedicated team of seasoned professionals, with specialized experience in data analysis, finance, student loan portfolio management, higher education policy, public and government relations—Enterval is uniquely positioned to deliver reporting and software tool solutions focused on the higher education space. For more information about Enterval, visit www.enterval.com.
The full Private Student Loan Report is available for download at https://www.enterval.com/#reports
Contact Information
Name: John Falb
Email:jfalb@enterval.com
Job Title: President and CEO
National Advertising Division Finds Challenged #1 Claims for Voltaren Arthritis Pain Relief Supported; Recommends Others be Modified or Discontinued
New York, NY – June 27, 2023 – The National Advertising Division (NAD) of BBB National Programs determined that Haleon, plc provided a reasonable basis for the challenged claims that its Voltaren Arthritis Pain Relief Gel is the:
- “#1 Doctor Recommended Topical Pain Relief Brand”
- “#1 Topical Pain Reliever Globally”
NAD also concluded that the “#1 Doctor Recommended” claim as it appears on Haleon’s website and CVS’ website is not misleading. However, NAD recommended that the advertiser discontinue the claim that “most topicals heat, cool, or irritate the surface of the skin, which masks the pain” or modify it to avoid conveying that other topical pain relievers are ineffective.
The claims at issue were challenged by competitor RB Health (US) LLC.
Voltaren Arthritis Pain Relief Gel is a topical nonsteroidal anti-inflammatory drug (NSAID) that is applied to the skin to provide temporary relief of joint pain associated with arthritis. Originally only available through prescription, Voltaren became available over the counter (OTC) in 2020.
“#1 Doctor Recommended” and “#1 Topical Pain Reliever Globally”
Based on the evidence in the record, NAD concluded that Haleon provided a reasonable basis for the claims “#1 Doctor Recommended Topical Pain Relief Brand” and “#1 Topical Pain Reliever Globally.”
However, NAD found that the claim “#1 Doctor Recommended Topical Pain Relief Brand,” if viewed in isolation and out of context, could reasonably convey a message about Voltaren being indicated for general pain and not just arthritis pain. Therefore, NAD recommended that when the advertiser makes this claim in other contexts it clearly and conspicuously discloses that Voltaren is approved for the treatment of arthritis pain.
“Most Topicals Heat, Cool, or Irritate the Surface of the Skin Which Masks the Pain”
NAD considered whether this claim is merely a description of the mechanism of action of most other topical pain relievers on the market, such as menthol-based products known as “counterirritants.” However, NAD determined that the claim could reasonably convey a misleading message to consumers that such products may harm the skin and be ineffective at treating pain.
Therefore, NAD recommended that the claim be discontinued or modified to avoid conveying the message that other topical pain relievers are ineffective.
In its advertiser statement, Haleon stated that it “agrees to comply with NAD’s decision” and that it “will take NAD’s additional recommendations into consideration in future advertising.”
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
This shall not be used for advertising or promotional purposes.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Contact Information
Name: Jennie Rosenberg
Email: jrosenberg@bbbnp.org
Job Title: Media Relations
LexisNexis Adds Agreement Analysis to the Lexis+ Ecosystem to Aid Transactional Attorneys
New tool harnesses the power of extractive AI, leveraging expert legal content and
7 million clauses to help quickly analyze, negotiate, and finalize transactional agreements
NEW YORK – LexisNexis® Legal & Professional, a leading global provider of information and analytics, today announced an expansion of its document analysis tools into the transactional space. Agreement Analysis, the newest enhancement to the Lexis+® ecosystem, reduces the manual tasks that accompany researching, negotiating, and finalizing transactional agreements. The product currently supports M&A transactions, including merger, stock purchase and asset purchase agreements, with more transactions coming in future releases.
Agreement Analysis uses AI to extract and recommend alternate clause language from seven million clauses publicly filed in SEC EDGAR documents, and from Practical Guidance sample clauses, templates and agreements. From there, attorneys can quickly compare alternate language for the most highly negotiated clauses in their document, and leverage drafting guidance and insights from Practical Guidance and benchmarking data points from Market Standards, to effectively customize clauses for a transaction.
“Transactional attorneys spend a significant amount of time analyzing clause language in large, complex documents to produce the most favorable terms and ensure they haven’t overlooked anything,” said Sean Fitzpatrick, CEO of LexisNexis North America, UK and Ireland. “Agreement Analysis extracts and delivers on-point alternative clause language from seven million clauses and presents them along with drafting insights and guidance in a way that saves time and improves attorney knowledge and efficiency.”
Upon uploading a document, an intuitive dashboard extracts and displays pertinent deal parameters, and a breakdown of the available alternative language for the most highly negotiated clauses. It also provides links to source documents and related Practical Guidance content and tools, including Market Standards and the State Law Comparison Tool.
Agreement Analysis parses lengthy documents into an easily navigable clause outline and recommends semantically relevant yet meaningfully diverse alternate clauses that can be selected and compared side-by-side for easy review, analysis and editing. Relevant drafting notes, data points and other Practical Guidance content provide additional point-of-view positioning and jurisdictional information, helping users understand drafting nuances underpinning each provision. Once edited, the finalized clause can be inserted into the original document.
“Agreement Analysis dramatically improves the entire transactional drafting and review process for all parties involved and exemplifies our commitment to improving the lives of legal professionals through the combined application of advanced technologies, industry-leading content and workflow efficiencies,” said Jeff Pfeifer, Chief Product Officer, LexisNexis North America, UK and Ireland. “With Agreement Analysis, we’re continuing to add value to the Lexis+ ecosystem, while enabling legal professionals to develop higher impact transactional documents in less time. Our solution relies on extractive AI, technology that improves decision insights for our customers. Extractive AI is also a fundamental building block for our next-generation generative AI solutions, like the recently announced Lexis+ AI.”
For more information on Lexis+ Agreement Analysis features, please visit lexisnexis.com/en-us/products/lexis-plus/agreement-analysis.page.
About LexisNexis Legal & Professional
LexisNexis® Legal & Professional provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,300 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
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LexisNexis Legal & Professional
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