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Indecent Exposure: FTC Obtains Injunctions Against Debt Brokers for Improperly Published Consumer Information

On November 12, 2014, the Federal Trade Commission announced that the District Court for the District of Columbia had entered preliminary injunctions against two debt sellers which, together, had improperly posted personal...more

FTC Settles With Debt Broker That Posted Consumer Financial Information

The Federal Trade Commission (“FTC”) has settled a complaint against consumer debt broker Bayview Solutions, LLC, as well as its principal, Aron Tomko, based on allegations that they had publicly disclosed the personal...more

Bank Pays $16M to Settle FDIC Charges Over Credit Card Add-On Products

The Federal Deposit Insurance Corporation (FDIC) reached a $16 million deal with a Utah bank recently, settling charges that the financial institution engaged in unfair and deceptive acts and practices. ...more

FTC Announces Settlements Against Debt Collection Practice And Its Principles

On September 23, the Federal Trade Commission released a statement announcing the settlement of claims and a default judgment against a debt collection operation based out of Atlanta and Cleveland and its principles, barring...more

Bernstein Shur Business and Commercial Litigation Newsletter #44

We are pleased to present the 44th edition of the Bernstein Shur Business and Commercial Litigation Newsletter. This month, we highlight recent cases that address subpoena enforcement, a rejected class action settlement, and...more

CFPB and FTC file lawsuits against online payday lenders

Earlier this month, the CFPB and FTC filed lawsuits against different groups of interrelated companies and their individual principals for engaging in allegedly unlawful online payday lending schemes....more

FTC Settles with Two Debt Collectors over Alleged FDCPA and FTC Act Violations

The debt collection industry continues to be a major focus of the Federal Trade Commission’s enforcement efforts, as shown by the agency’s decision to simultaneously announce two settlements last week with Tennessee and New...more

New York AG, FTC Bring Major Action against Debt Collection Operation

The New York Attorney General and Federal Trade Commission (FTC) recently announced a joint debt collection enforcement action that had been filed in June in federal court in Buffalo, New York, against several corporations...more

NY Attorney General, FTC Bring Major Action against Debt Collection Operation

The New York Attorney General and Federal Trade Commission (FTC) recently announced a joint debt collection enforcement action that had been filed last month in federal court in Buffalo, New York, against several corporations...more

Banks Cannot Solve Their “Toxic Asset” Problems by Forcing Bad Loans and Real Estate on Unrelated Borrowers

In the wake of the post-2008 “Great Recession,” many financial institutions were left holding an odoriferous bag of non-performing loans and bank-owned real estate (“REO Property”) resulting from foreclosures on collateral....more

FTC Settlement with Payment Processor Highlights Importance of Anti-Money Laundering Programs for Non-Bank Financial Institutions

On June 11, 2014, the Federal Trade Commission (“FTC”) announced that it had entered into a stipulated permanent injunction with Independent Resources Network Corp., a payment processor, to settle charges that it knowingly...more

Canadian Court Certifies Visa/Mastercard Class Action

In reasons publicly released on Thursday March 27, 2014, Chief Justice Bauman certified two classes of Canadian merchants who allege a price-fixing conspiracy related to Visa and MasterCard interchange fees. As the first...more

Anti-Money Laundering: Italian Competent Authorities Issue Clarification on the Duty of Restitution of Money/Securities to...

New paragraph 1-bis of article 23 of Legislative Decree 21 November 2007, no. 231 (the Italian anti-money laundering law), introduced by article 18 of Legislative Decree 19 September 2012, no. 169, provides that, in the event...more

No 'Vindication of Rights' Exception to Concepcion, Supreme Court Holds

The U.S. Supreme Court today delivered a knock-out punch to the last major court challenge to the use of class action waivers in consumer arbitration agreements....more

Merchants Held To Arbitration Agreements - American Express Co. v. Italian Colors Restaurant

As for a bit of background, the purported class was made up of merchants that accept American Express (“AmEx”) cards. ...more

SCOTUS Says “Tough Luck” To Plaintiffs Whose Claims Are Too Pricey To Prove In Individual Arbitrations

In American Express Co. v. Italian Colors Restaurant, a divided Supreme Court today reversed the Second Circuit and held that plaintiffs may not invalidate an arbitration agreement containing a class action waiver merely...more

FTC: Data Brokers That Compile Tenant Data May Be Covered by FCRA

On April 3, 2013, the Federal Trade Commission issued a press release that marks yet another step in its continuing trend of actions involving data brokers and data providers. As we have noted in earlier blog posts, the...more

Visa/MasterCard Interchange Fee Litigation – May 28, 2013 Deadline to Respond to Class Action Settlement Agreement

All entities that accept Visa- or MasterCard-branded credit and/or debit cards must decide, on or before May 28, 2013, how to respond to the settlement agreement with Visa and MasterCard on behalf of a class covering...more

FTC Sends FCRA Warning to Providers of Rental Histories

The Federal Trade Commission continues to keep Fair Credit Reporting Act (FCRA) enforcement at the forefront of its activities, as shown by its recent warnings to operators of six websites that provide information about...more

"UK’s Department of Business, Innovation and Skills Proceeds with Private Competition Action Reforms"

The U.K.’s Department of Business, Innovation and Skills (BIS) has issued a ‘government response’ or plan for reform indicating that the government will move forward with a number of substantial changes to the U.K.’s...more

FTC Order Against Fraudulent Payment Processor Joins Growing List of Regulatory Actions Involving Third Party Service Providers

Following on the heels of significant regulatory actions by the Consumer Financial Protection Bureau, Federal Reserve, and the FDIC against regulated companies and their third-party service providers, the Federal Trade...more

Eleventh Circuit Holds that Net Revenue, Not Profits, Should Determine Damages in FTC Deceptive Marketing Case

The US Court of Appeals for the Eleventh Circuit recently affirmed a judgment against three individual defendants finding that the district court correctly used net revenue to calculate damages. Defendant-appellants were...more

FTC and States Target “Cardholder Services” Robocalls

On November 1, the FTC announced that courts have granted temporary restraining orders in five cases in which the FTC alleged that the defendants placed automated calls to consumers to make allegedly deceptive “no-risk”...more

Ninth Circuit Find Defendant in Violation of FTC Consent Decree and Affirms District Court's Contempt Order

The U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s finding that defendant had violated a consent decree entered into with the Federal Trade Commission in which defendant had agreed to clearly and...more

Visa and MasterCard Enter into Memorandum of Settlement in Credit Card Interchange Antitrust Litigation

On Friday, July 13, 2012, the parties announced they settled the lawsuit known as In Re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, Case No. 1:05-md-01720-JG-JO, pending in the United States...more

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