Après le lancement réussi de la solution Lexis+ AI en anglais au Canada, Lexis+ AI est désormais disponible commercialement en français, devenant ainsi la première solution complète d’IA générative juridique bilingue canadienne disponible au Canada. Ancrée dans le contenu canadien en français, y compris des conseils pratiques, Lexis+ AI offre des interactions et des réponses entièrement sécurisées, étayées par des références juridiques vérifiables et liées.
Toronto, ON – le 4 septembre, 2024 – LexisNexis® Legal & Professional, un fournisseur mondial de premier plan d’informations et d’analyses juridiques, a annoncé aujourd’hui que Lexis+ AI, la solution d’IA générative juridique, est désormais lancée en anglais et en français pour les utilisateurs canadiens. Cela fait suite au lancement commercial réussi de la solution Lexis+ AI en anglais sur le marché canadien le 25 juillet 2024, et aux lancements précédents aux États-Unis, en Australie, au Royaume-Uni et en France.
Lexis+ AI fournit des réponses fiables dans une interface familière et conviviale qui utilise une plateforme unique de LexisNexis comprenant la technologie de Retrieval Augmented Generation 2.0 (RAG 2.0) largement améliorée. Les réponses de Lexis+ AI sont ancrées dans l’une des plus grandes collections mondiales de contenus juridiques en français du Canada faisant autorité et exclusifs, y compris la jurisprudence, la législation, la doctrine ainsi que du contenu analytique et des modules de conseils pratiques.
Lexis+ AI fournit des liens directs vers les sources d’autorité citables sous-jacentes dans ses réponses. Cela permet aux utilisateurs de valider instantanément les résultats, réduisant ainsi le risque de contenu inventé ou d’hallucinations. Lexis+ AI vérifie automatiquement toutes les références liées par rapport au contenu de LexisNexis pour s’assurer qu’elles sont valides.
Les capacités d’IA de la solution ont été développées en interne chez LexisNexis avec des partenariats technologiques de premier plan, permettant à l’entreprise d’introduire rapidement de nouvelles fonctionnalités et technologies et d’offrir à ses clients une expérience parfaitement intégrée dans l’écosystème LexisNexis.
Développé avec les contributions de professionnels juridiques de premier plan au Québec et partout au Canada, Lexis+ AI a été conçu pour répondre aux besoins quotidiens des avocats. Lexis+ AI propose une recherche conversationnelle, une rédaction juridique intelligente, une synthèse perspicace et des fonctionnalités de téléchargement de documents, le tout soutenu par une technologie de chiffrement et de confidentialité de pointe pour assurer la sécurité des données sensibles.
- La recherche conversationnelle simplifie la recherche juridique complexe en permettant aux utilisateurs d’interagir de manière conversationnelle avec Lexis+ AI, d’explorer de nouvelles perspectives et de demander des résultats ajustés et affinés.
- La rédaction de documents produit instantanément des clauses contractuelles et des communications clients à partir d’une simple requête utilisateur.
- La fonctionnalité de résumé fournit des résumés de décisions en quelques secondes, avec d’autres contenus et capacités à venir prochainement.
- Les capacités de téléchargement de documents permettent aux utilisateurs d’analyser, de résumer et d’extraire rapidement les principales informations des documents juridiques.
Lexis+ AI offre une sécurité des données et une attention à la confidentialité de premier ordre. Les documents téléchargés sont toujours supprimés à la fin de chaque session et les utilisateurs peuvent facilement gérer ou supprimer leur historique de conversation. La solution s’améliore en permanence, les experts en droit de LexisNexis échantillonnant régulièrement des centaines de milliers de réponses générées par l’IA, afin d’affiner et d’éduquer le modèle. LexisNexis emploie plus de 2 000 technologues, scientifiques des données et experts pour développer, tester et valider ses solutions et fournir des informations complètes et précises.
« C’est une étape incroyable pour le marché juridique canadien de langue française. Nous sommes immensément fiers d’étendre cette solution juridique révolutionnaire à nos clients francophones, leur permettant ainsi de prospérer en toute sécurité et confiance », a déclaré Sam Puchala, président et directeur général de LexisNexis Canada. « L’enthousiasme suscité par Lexis+ AI souligne son potentiel révolutionnaire, et nous sommes ravis d’offrir à nos clients un accès transparent à nos ressources juridiques complètes et à nos capacités d’IA de pointe, leur donnant ainsi un avantage concurrentiel sans précédent. »
LexisNexis développe de manière responsable des solutions d’IA juridique avec une supervision humaine. LexisNexis, faisant partie de RELX cotée au FTSE, suit les principes d’IA responsable de RELX. Ceux-ci exigent que l’entreprise considère l’impact réel de ses solutions sur les personnes et prenne des mesures proactives pour prévenir la création ou le renforcement de préjugés injustes.
Pour plus d’informations sur Lexis+ AI ou pour planifier une démonstration, visitez www.lexisnexis.ca/fr/lexis-plus-ai.
À propos de LexisNexis Legal & Professional
LexisNexis® Legal & Professional donne accès à de l’information et de l’analyse juridique, réglementaire et commerciale pour aider ses clients à augmenter leur productivité, améliorer leur processus décisionnel, atteindre des résultats optimaux et mettre en avant les principes de droit partout dans le monde. Véritable précurseur du numérique, l’entreprise fut la première à mettre en ligne l’information juridique et commerciale avec ses services Lexis® et Nexis®. Présente dans plus de 150 pays et employant plus de 11 800 personnes, LexisNexis Legal & Professional fait partie de RELX, un fournisseur mondial d’outils d’analyse d’information et de décision pour les professionnels et la clientèle d’affaires.
Contact Information
Lori Harito, relationniste
lori@boulevardofdreams.ca
1-416-523-9602
The MICHELIN Guide’s next stop: Quebec
- Quebec becomes 12th MICHELIN Guide destination in North America
- MICHELIN Guide Inspectors are already in the field, finding culinary gems
- The 2025 inaugural selection will feature the whole province
QUEBEC CITY, August 29, 2024 — The MICHELIN Guide has arrived in the province of Quebec, as Michelin and l’Alliance de l’industrie touristique du Québec today revealed the MICHELIN Guide Quebec. The MICHELIN Guide Quebec will be the third destination in Canada, in addition to Toronto and Vancouver.
The first MICHELIN Guide Quebec selection will be revealed in 2025, and it will feature culinary gems throughout the province.
Quebec is home to a rich and diverse food scene with international influences and farm-to- table dishes thanks to the variety of locally grown ingredients found throughout the region. The province is home to both renowned chefs and up-and-coming talent looking to mix traditional and avant-garde cooking techniques into their dishes.
“We are excited to plant our flag in Quebec as the newest destination for the MICHELIN Guide in Canada,” said Gwendal Poullennec, International Director of the MICHELIN Guides. “Quebec’s culinary scene shines a light on the rich heritage and traditions of the province attracting travelers on the lookout for remarkable and tasty experiences. I look forward to revealing what our anonymous Inspectors discover for this inaugural selection.”
The anonymous MICHELIN Guide Inspectors award the iconic MICHELIN Stars – one, two, or three – to unparalleled cuisine. The Guide is also renowned for its Bib Gourmand selection, highlighting restaurants that offer great quality food at good prices. The MICHELIN Green Star is given to restaurants that are leaders in sustainable gastronomy. Recommended restaurants and special professional awards are also highlighted by the Inspectors.
“Quebec is a rich multicultural mosaic, which gives Quebecois cuisine an invaluable uniqueness,’’ said Geneviève Cantin, CEO of the Alliance. “It is with immense pride that all of our partners welcome the arrival of the MICHELIN Guide across the Province of Quebec, which will further showcase our local artisans on the international stage.”
The MICHELIN Guide is constantly observing the evolution of culinary destinations around the world. The MICHELIN Guide selections process remains completely independent. While selections remain fully independently determined by anonymous Inspectors, the MICHELIN Guide is working with the Alliance on marketing and promotion activities only.
History and methodology
The upcoming Quebec restaurant selection will follow Michelin’s historical methodology, based on five universal criteria, to ensure each destination’s selection equity: 1) quality products; 2) the harmony of flavors; 3) the mastery of cooking techniques; 4) the voice and personality of the chef as reflected in the cuisine; 5) consistency between each visit and throughout the menu (each restaurant is inspected several times a year).
The MICHELIN Guide remains a reliable companion for any traveler seeking a great meal. The Guide was first published in France at the turn of the 20th century to encourage tire sales by giving practical advice to French motorists. Michelin’s Inspectors still use the same criteria and manner of selection that were used by Inspectors in the very beginning, now applied in destinations around the world.
Michelin announced its first North American Guide in 2005 for New York. Guides have also been added in Chicago (2011); Washington, D.C. (2017); California (San Francisco in 2007, statewide 2019); Miami/Orlando/Tampa, Florida (2022); Toronto (2022); Vancouver (2022); Colorado (2023); Atlanta (2023); Mexico (2024), Texas (2024) and today Quebec (2024).
About Michelin North America, Inc.
Michelin is the leading mobility company and manufacturer of life-changing composites and experiences. For more than 130 years, Michelin has made contributions to human progress and to a more sustainable world. Michelin is constantly innovating to manufacture high-quality tires and components for critical applications for demanding fields, including mobility, construction, aeronautics, low-carbon energies and healthcare and offer the finest experiences, from providing data- and AI- based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide. Headquartered in Greenville, S.C., Michelin North America has approximately 23,500 employees and operates 35 production facilities in the United States (michelinman.com) and Canada (michelin.ca).
About l’Alliance de l’industrie touristique du Québec
Representing more than 12,000 businesses and 50 regional and sectoral tourism associations, the Quebec Tourism Industry Alliance (Alliance) is the largest provincial tourism business federation in Canada. It embodies the commitment of the private and associative sectors to highlight the significant contribution of the tourism economic sector to the vitality of the regions while advocating on behalf of its members. All the Alliance’s actions aim to help make Quebec a sustainable, responsible, and prosperous world-class tourist destination.
The MICHELIN Guide Worldwide app for iOS and Android devices.
https://www.facebook.com/MICHELINGuideWorldwide
https://www.instagram.com/michelinguide
https://www.youtube.com/@MICHELINguideInternational
Contact Information
Name: Carly Grieff
Email: carly.grieff@michelin.com
Job Title: External Communications
National Advertising Division Refers Comparative Efficacy Claims for HiSmile Toothbrushes vs. Oral-B to Regulatory Authorities for Further Review
New York, NY – August 29, 2024 – BBB National Programs’ National Advertising Division has referred advertising claims made by HiSmile PTY for its toothbrushes to the Federal Trade Commission (FTC) and other regulatory authorities for review after HiSmile declined to participate in the industry self-regulation process.
The Procter & Gamble Company (P&G), manufacturer of competitor Oral-B brand power toothbrushes, challenged claims made by HiSmile in two videos posted by the company on TikTok. In the videos, HiSmile made unsupported comparative efficacy claims and claims that falsely disparaged its Oral-B power toothbrushes including:
- “[other brushes have] 1 million useless extras that you don’t need”
- “You’re not going to hear about rotations on [our] brush head,”
- “[HiSmile] is here to replace your dodgy electric toothbrush”
- “You don’t need the features from the big boy brands…selling you like a used car salesman for features you don’t need”
While HiSmile advised the National Advertising Division (NAD) that one of the TikTok videos had been taken down, the other video remains on the platform and HiSmile has not represented that the claims at issue had been permanently discontinued.
As HiSmile decided not to participate in the NAD self-regulatory process concerning these claims, NAD will refer the matter to the FTC and other regulatory authorities for review and possible enforcement action.
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. NAD will also refer this matter to platforms on which HiSmile’s advertising appeared.
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
National Advertising Division Refers HiSmile Teeth Whitening Product Claims to the Federal Trade Commission
New York, NY – August 29, 2024 – BBB National Programs’ National Advertising Division referred HiSmile PTY to the Federal Trade Commission (FTC) and other regulatory authorities for review after HiSmile declined to provide an advertiser statement confirming it will comply with all of NAD’s recommendations.
Competitor Oral Essentials, Inc. challenged certain HiSmile claims for its tooth concealer products (V34 Colour Corrector Serum and Glostik) and teeth whitening products containing PAP (PAP+ Whitening Strips, PAP+ Whitening Pen, PAP+Whitening Toothpaste and VIO 405 Refills or “Tooth Whiteners”).
The challenged claims appeared on HiSmile’s website, social media, and Amazon listings.
Instant Claims
The National Advertising Division (NAD) determined that the studies and research submitted by HiSmile do not provide a reasonable basis for claims that HiSmile tooth concealers provide “instant brightening,” “immediately brighten(s)” teeth, and the description of Glostik as an “Instant Whitening Wand.” Therefore, NAD recommended that these claims be discontinued.
Further, NAD recommended that HiSmile discontinue claims of “clinically proven instant whitening results,” “instant brightening,” “immediately brightens,” and “instantly remove yellow teeth stains” for its tooth whitening products as the evidence was not a good fit to support the claims.
Sensitivity Claims
In the absence of support on the impact of the tooth whiteners on “sensitivity,” NAD determined HiSmile’s claims of “no tooth sensitivity,” “sensitivity-free whitening,” “strips away the stains without any sensitivity,” and “no gum irritation” were unsupported and recommended they be discontinued.
Product Demonstrations
Oral Essentials also challenged certain product demonstrations and endorsements of HiSmile’s products that appeared on social media, including experiments conducted on various foods such as an egg, a banana, a lemon, or an ear of corn.
NAD concluded that Hismile’s product demonstrations can be reasonably understood as a visual demonstration of the whitening power of its tooth concealer. NAD noted that when a product demonstration is presented as visual proof of how the product will perform, the demonstration must be presented accurately and any material conditions or limitations should be clearly disclosed.
Accordingly, NAD recommended that HiSmile discontinue the use of its egg test as a product demonstration, or modify it to:
- Avoid equating the egg and staining elements to stains on teeth; and
- Make clear the material aspects of the test including the dipping time and the staining factors used.
As to HiSmile’s product demonstrations on other items such as a banana, NAD recommended they be discontinued or modified to:
- Avoid conveying the message that the demonstrations depict the whitening power of HiSmile’s products; and
- Make clear that demonstrations on objects that are not similar to teeth only demonstrate the mechanism of administration.
Material Connection Disclosures
In addition, Oral Essentials challenged product demonstrations and endorsements appearing on social media where it maintained the material connection between the endorser and HiSmile was not fully disclosed.
While HiSmile committed to using standard disclosures provided by social media platforms, FTC guidance cautions marketers against relying on the platform-provided disclosure if it is not clear and conspicuous. NAD has previously found that an “includes paid promotion” platform-provided disclosure is not clear and conspicuous.
Accordingly, NAD recommended that HiSmile modify any video endorsement to include a material connection disclosure that is clear and conspicuous in audio and video, keeping in mind that clear and conspicuous means unavoidable or difficult to miss.
During the proceeding, HiSmile permanently discontinued certain claims for its PAP+ Whitening Pen, PAP+ Whitening Strips, and tooth concealers. Therefore, NAD did not review these claims on their merits and will treat the claims, for compliance purposes, as though NAD recommended they be discontinued.
HiSmile did not provide an advertiser statement confirming it will comply with all of NAD’s recommendations. Per NAD/NARB Procedures, NAD has referred this matter to the FTC and other regulatory authorities for review and possible enforcement action. NAD will also refer this matter to platforms on which HiSmile’s advertising appeared.
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 of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. The National Advertising Division 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
National Advertising Division Finds Certain Claims for Verizon Home Internet Supported; Recommends Verizon Modify or Discontinue Others
New York, NY – August 28, 2024 – In a challenge brought by Charter Communications, Inc., BBB National Programs’ National Advertising Division determined that Verizon Communications Inc. provided a reasonable basis for certain claims for its Verizon Home Internet but recommended that it discontinue or modify others.
Three primary services are included under Verizon Home Internet: Fios Home (using fiber-to-the-home), 5G Home (using mid-band and high-band 5G wireless), and LTE Home (using 4G LTE wireless). Fios Home is a wired service and 5G Home and LTE Home are fixed wireless access (FWA) internet services that connect to homes through Verizon’s cellular network.
5G Claims
Verizon branded parts of its FWA service “5G Home” and “5G Home Plus.” The National Advertising Division (NAD) considered the message reasonably conveyed by claims using the term “5G”:
- “5G” Home Internet
- “5G-fast” speeds
- “Game, stream & connect with the speed of 5G.”
- “[B]inge, game, and work at the speed of 5G.”
NAD found that Verizon’s advertisements do not perpetuate or reinforce any misconception that 5G refers to 5 Gbps. Therefore, NAD determined that Verizon’s 5G claims were not misleading because the term “5G” describes the service accurately– home internet connected through 5G mobile technology.
Fast and Reliable Claims
Applying standards used for residential broadband internet, NAD determined that Verizon provided a reasonable basis that its services were “reliable” and that the following claims are substantiated:
- Verizon Home Internet is “reliable” home internet.
- Consumers will receive uninterrupted service with Verizon’s FWA service offerings.
- Consumers will receive consistent speeds throughout the day with Verizon’s FWA service offerings.
However, NAD concluded that Verizon failed to provide a reasonable basis that Verizon Home Internet, which includes 5G Home and LTE, is “fast” in a context that equates those services with its broadband internet services.
Therefore, NAD recommended that Verizon modify the following “fast” claims to clearly and conspicuously disclose the service (Fios Home) for which the claim is supported:
- Verizon Home Internet is “fast” home internet.
- Verizon Home Internet is “fast . . . home internet so you can binge, game and work at the speed you need.”
- Verizon’s FWA internet offerings provide internet access in the same manner as the wired internet services offered by Charter and other similar wireline ISPs.
Alternatively, Verizon may clearly and conspicuously disclose that its 5G Home and LTE Home services of its Verizon Home Internet provide internet access through a mobile wireless or cellular network and that speeds may vary due to factors affecting networks.
Stream Claim
Verizon’s website claims “Verizon 5G Home is fast, reliable home internet so you can game, stream and connect the way you want.” NAD determined that the claim reasonably conveys the message that there are no limitations on picture quality on what consumers can stream with Verizon’s FWA internet option. However, the inability to stream in 4K is material information that directly contradicts the claim of being able to stream the way you want.
Accordingly, NAD recommended that Verizon modify the claim by clearly and conspicuously disclosing that certain limitations on playback resolution may apply depending on the tier of service.
No Data Limits and Data Caps Claim
Verizon’s terms of service give it the right to limit the speeds of its highest data-using FWA customers. While Verizon characterizes data limitation ability as an abuse-prevention mechanism, it is nevertheless a data limitation. As a result, NAD found that the unqualified “no data limits” or “data caps” claims for Verizon’s 5G Home Internet and LTE Home Internet plans are unsupported.
Therefore, NAD recommended that Verizon discontinue its “no data limits” and “data caps” claims or modify the claims to disclose its data limitation policy.
Antenna Claims
NAD concluded that Verizon’s claim “there’s a 5G antenna somewhere in your neighborhood, or maybe even a few” and the implied message that consumers who subscribe to Verizon’s 5G Home Internet will connect to an antenna in their neighborhood, as directed to the target audience, are truthful and supported.
Further, NAD determined that the claim does not reasonably convey the message that subscribers will have multiple antenna options to connect to, as it states “maybe” and makes clear that multiple antennae is a possibility and not a promise.
Underground Claims
During the proceeding, Verizon permanently modified the claim that Verizon 5G Home Internet “actually works . . . ten feet underground” to include the language “And don’t ask me how, but the gang hacked it to make sure it worked while I’m underground.” Afterwards, the words “And because of our hack” was inserted before the statement “It actually works . . .”
NAD found that the language about a “hack” reduces the likelihood of consumer confusion and concluded that Verizon’s claim that Verizon 5G Home Internet actually works ten feet underground was not false or misleading in the context of its video.
Choose a Plan Claim
NAD concluded that the claims “choose a plan that fits [their] needs so [they] can get the speed and features that are right for [them]” and “binge, game and work at the speed you need” are not misleading.
NAD noted that reasonable consumers understand that although home internet providers offer a variety of plans, they are unlikely to offer a plan for every customer and that service availability varies.
Limited Availability
Verizon geo-targets Verizon Home Internet advertisements to areas in which the service is available, and any advertisements that are not geo-targeted contain a disclosure that availability varies or that not all products may be available. Therefore, NAD concluded that no modifications to claims about the availability of Verizon’s 5G Home Internet service were necessary.
During the proceeding, Verizon permanently discontinued a number of claims and modified one claim. Therefore, NAD did not review these claims on their merits and will treat the claims, for compliance purposes, as though NAD recommended they be discontinued or modified.
In its advertiser statement, Verizon stated that it “will comply with NAD’s decision” and take NAD’s recommendations into consideration in future advertising because it is committed to industry self-regulation.
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
Latest Edition of Enterval Private Student Loan Report Highlights Steady Private Student Loan Repayment Trends
August 22, 2024 – Enterval Analytics, LLC, a leading student loan analytics company, today released the 22nd edition of its semi-annual Private Student Loan Report. The latest Report offers detailed data and analytics on the US private student in-school lending market, highlighting current private student loan performance, and comparing it to pre-pandemic 3-year averages. The Report underscores that a majority of borrowers continue to responsibly manage their private student loans.
At the end of Q1 2024, early-stage delinquency remained steady at 3.02%, while late-stage delinquencies were 1.61%. Annualized gross charge-offs were 2.56%. The 3-year average for the pre-pandemic timeframe of 2017 to 2019 were 2.57%, 1.57%, and 2.04%, respectively. At the end of Q1 2024, 75.91% of private student loan borrowers were in repayment, which is slightly more than the three-year pre-pandemic average of 75.46%.
“Private student loan borrowers continue to demonstrate responsible repayment management,” explains John Falb, CEO of Enterval Analytics. “The pandemic introduced unique private student loan origination and repayment trends, but the data confirms market performance is normalizing.”
The Report represents data contributed by thirteen private lenders, who collectively account for over 70% of the active in-school private student loan lender market. Report contributors originated $8.92B in private student loans during the first three quarters of academic year 2023/24. In addition to being fully underwritten to assess creditworthiness and ability to repay, private student loans are school certified with 90.40% of loans being cosigned.
Based on the latest available federal student loan data, approximately 92.37% or $1.6 trillion of the loans today are made by the federal government; the remaining 7.61% or $133.43 billion of the student loan market as of Q3 2024 are private student loans. Undergraduate loans account for 90.70% of the outstanding private student loan portfolio.
The full Private Student Loan Report is available for download at https://www.enterval.com/#reports.
The bi-annual Report includes continuous contributions from the five largest student loan lenders and holders: Citizens Bank, N.A., College Ave, Navient, PNC Bank, N.A., and Sallie Mae Bank. In addition, the report includes data from eight other student lender contributors.
About Enterval Analytics
Enterval Analytics was formed to provide industry leading research, tools, and insights for the private student loan market. 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.
Contact Information
Name: Elaine Rubin
Email: erubin@enterval.com
Job Title: Director of Corporate Communications
In National Advertising Division Fast-Track SWIFT Case, SharkNinja Voluntarily Modifies Disclosure for “500x Less Dust Exposure” Claim
New York, NY – August 21, 2024 – The BBB National Programs National Advertising Division has closed a Fast-Track SWIFT challenge initiated by Dyson, Inc. regarding advertising by SharkNinja Operating, LLC for its Shark Clean & Empty Cordless Stick Vacuum & Auto-Empty System.
Fast-Track SWIFT is an expedited process designed for single-issue advertising cases brought to the National Advertising Division (NAD).
Dyson challenged the adequacy of the disclosure used in connection with SharkNinja’s claim that its Clean & Empty Vacuum offers “500x less dust exposure* (*Based on third-party plume testing while emptying vs. manual empty),” in digital advertising, third-party retailer websites, on SharkNinja’s website, and product packaging.
In response to Dyson’s SWIFT challenge, SharkNinja informed NAD that it has permanently discontinued use of the disclosure identified by Dyson and that all future claims of comparative dust exposure will include a modified disclosure clearly stating the basis of comparison, which is a comparison to the Shark Navigator.
Therefore, NAD did not review the challenge on the merits and will treat the advertising, for compliance purposes, as though NAD recommended it be discontinued.
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:
Jennie Rosenberg
Media Relations
BBB National Programs
press@bbbnp.org
National Advertising Division Recommends Happy Mammoth Discontinue Certain Health-Related Claims for Hormone Harmony Dietary Supplement
New York, NY – August 20, 2024 –BBB National Programs’ National Advertising Division recommended, as part of its routine monitoring program, that Happy Mammoth discontinue certain health-related claims for its Hormone Harmony dietary supplement including:
- “Relieves symptoms of Menopause”
- “Relieves hot flashes”
- “Improve sleep quality”
- “Reduces bloating and gas”
Hormone Harmony contains a proprietary combination of ingredients, including fennel, chaste berry, ashwagandha, and chamomile, to ease menopausal discomfort.
The National Advertising Division (NAD) determined that Happy Mammoth did not have a reasonable basis for the unqualified claims about the challenged benefits as there was no testing on the product itself. However, Happy Mammoth indicated a willingness to qualify the challenged claims to specify the efficacy of the ingredients in delivering the challenged benefits. Therefore, NAD examined whether the evidence could support qualified claims.
NAD determined that the studies submitted by Happy Mammoth had limitations that rendered them insufficient to support the challenged claims as well as the qualified claims and, therefore, recommended the claims be discontinued.
NAD noted that nothing in its decision would prevent Happy Mammoth from:
- Making claims regarding the ability of fennel and chaste berry to positively affect menopausal symptoms that are supported by the limited findings of the research in evidence.
- Making supported claims that describe the traditional or historic use of ashwagandha to support sleep or are carefully qualified to avoid any misleading implication about the product’s efficacy or health benefits.
- Describing the traditional or historic use of chamomile in reducing bloating and gas.
During the proceeding, Happy Mammoth agreed to voluntarily discontinue certain claims including “Relieves mood swings and boosts energy” and “Reduces . . . fluid retention.”
Therefore, NAD did not review the claims on their merits and will treat the claims, for compliance purposes, as though NAD recommended they be discontinued and Happy Mammoth agreed to comply.
In its advertiser statement, Happy Mammoth stated that it agrees to comply with NAD’s recommendations but is disappointed with some of NAD’s critiques.
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 of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. The National Advertising Division 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
National Advertising Division Recommends Datarails Disclose Material Connection to The Finance Weekly Website for Endorsement, Rankings, and Reviews
New York, NY – August 16, 2024 – In a Fast-Track SWIFT challenge, BBB National Programs’ National Advertising Division recommended that Datarails, Inc. clearly and conspicuously disclose its material connection to The Finance Weekly website where endorsement, rankings, and reviews appear.
Cube Planning, Inc., a competitor in the Financial Planning and Analysis (FP&A) software solutions market, challenged Datarails advertising on The Finance Weekly website.
Fast-Track SWIFT is an expedited process designed for single-issue advertising cases brought to the National Advertising Division (NAD). At issue for NAD was whether the affiliation between The Finance Weekly and Datarails is adequately disclosed.
NAD determined that there was a material connection between Datarails and The Finance Weekly website and that connection was not clearly and conspicuously disclosed. NAD noted that Datarails advertises throughout the website (and appears to be the only advertiser on the website), however, portions of the website that rank services do not disclose this material connection.
To ensure that Datarails advertising does not mislead consumers, NAD recommended that Datarails clearly and conspicuously disclose its material connection to The Finance Weekly website where endorsement, rankings, and reviews appear.
Datarails denied knowledge of the rating and ranking criteria of The Finance Weekly. NAD noted that in using an expert endorsement, Datarails, like any advertiser, has an obligation to ensure the endorsement is truthful.
Therefore, NAD recommended that Datarails discontinue using expert endorsements that do not:
- Have the correct experience to review the service;
- Review the product using that expertise to examine competing products or services; and
- Conclude the product or services are superior to other products or services with respect to the features reviewed.
In its advertiser statement, Datarails stated that it “intends to comply” with NAD’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. 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 of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. The National Advertising Division 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
National Advertising Division Finds Certain Claims for Online Corporate Formation Services Supported; Recommends LegalZoom Modify or Discontinue Others
New York, NY – August 15, 2024 – In a challenge brought by ZenBusiness, Inc., BBB National Programs’ National Advertising Division determined that LegalZoom, Inc. provided a reasonable basis for certain claims regarding its online corporate formation services but recommended that it discontinue or modify others.
Superiority Claims
ZenBusiness challenged several iterations of social media ad and sponsored search ad claims stating that LegalZoom is the “#1 Choice” for online small business formation and is “#1 Rated/Voted” by small businesses.
The National Advertising Division (NAD) determined that the three surveys relied on by LegalZoom as evidence were not a good fit for supporting the claims and recommended they be discontinued. NAD noted that its decision does not prevent LegalZoom from relying on the surveys for different, supported claims.
Best LLC Claim
NAD found that LegalZoom’s “Best LLC Service” claim, which appeared in a sponsored search ad, is puffery and does not require support. NAD noted that, in context, the claim is used as a vague statement of corporate pride without conveying a message that LegalZoom has been measured to be the “best” in a quantified, objectifiable way.
Price Savings Claims
LegalZoom’s website features a direct comparison of its business formation services to those offered by ZenBusiness. NAD found the claims that ZenBusiness is “up to 20% more expensive than LegalZoom” and that customers who use LegalZoom’s business formation services “can save up to $39” compared to ZenBusiness were substantiated. However, NAD recommended that LegalZoom modify its comparison chart to accurately indicate that ZenBusiness offers a website builder free for one month with its starter package.
NAD also found that LegalZoom’s proposed modification to its comparison chart to clearly and conspicuously identify both companies as offering compliance services (included by ZenBusiness for the first year) would not mislead consumers about the compliance offerings of each competitor.
Disclosure of Affiliate Relationship
LegalZoom’s website features a box with the language “as seen in” followed by the logos of Forbes, Mashable, The New York Times, CNBC, and The Today Show. NAD recommended that if LegalZoom has a material connection, including an affiliate relationship with the publications and media outlets featured in its “as seen in” advertisement, that material connection should be clearly and conspicuously disclosed on LegalZoom’s website.
On another part of its website, LegalZoom touts its relationship with its business partners stating in large black font “Build a successful business with help from our partners” followed by the statement “Whether you’re just starting out or looking to scale your business, our partners have solutions and special offers.” Below the text, six partner logos are featured, which NAD found clearly and conspicuously discloses the commercial relationship between LegalZoom and its partners.
Consumer Purchase Flows
NAD reviewed two challenged portions of LegalZoom’s LLC purchase flow and recommended that LegalZoom:
- Modify the registered agent purchase flow to clearly and conspicuously disclose the options available to consumers; and
- Modify the order review page to clearly and conspicuously reflect the pricing of the add-on features, both in their line-item appearance and in the total price at the end of the page.
In its advertiser statement, LegalZoom stated that it “will comply with NAD’s decision.” LegalZoom further stated that although it “disagrees with some of NAD’s conclusions, as a strong supporter of industry self-regulation LegalZoom will take NAD’s recommendations into account as it revises its materials.”
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