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“Operation Mis-Modification” Targets Foreclosure Relief Companies

The CFPB continues to ramp up its enforcement actions and its collaboration with state AG offices as part of the new “Operation Mis-Modification.” The CFPB, the FTC and fifteen states announced a series of lawsuits...more

Advertising News & Analysis - July 2014 #3

In this issue: - Copyright: The Often-Overlooked Brand Protection Tool - Ninth Circuit Frees Taco Bell from TCPA Suit - Operation Choke Point's Unintended Consequences - FTC Chops Plastic Lumber...more

Advertising News & Analysis - July 2014 #2

In this issue: - Cooking up Trouble with Crowdfunding? - FTC Schools L'Oreal USA's "Youth Code" Claims - Will 2014 Retool the New Lanham Act? - Upcoming Events - Excerpt from Cooking up...more

FTC Announces Settlement with Debt Collector over Alleged FDCPA Violations

The Federal Trade Commission (FTC) recently announced a settlement with a Houston debt collection company and its individual owner related to alleged violations of the Fair Debt Collection Practices Act (FDCPA). This action...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

FTC Settles Claims Against Credit Repair Company

The Federal Trade Commission recently announced that it has entered into a settlement with one of the nation’s largest credit repair companies and its owners for alleged violations of the Credit Repair Organizations Act...more

“Getting to Know You, Getting to Know All About You…” FTC Data Brokers Report Calls for More Industry Transparency, Regulation in...

“You may not know them, but data brokers know you,” Federal Trade Commission (FTC) Chairwoman Edith Ramirez said when she announced the release of the Commission’s newest report on the data broker industry. And in the FTC’s...more

U.S. District Court rules that FTC can regulate payday lenders regardless of American Indian Tribal affiliation, finds lender...

Generally speaking, those who wish to engage in payday lending will find that the industry is heavily regulated. In addition to regulation at the state level, payday lenders must comply with a wide variety of federal laws...more

The CFPB & UDAAP: A “Know It When You See It” Standard?

Institutions regulated by the Consumer Financial Protection Bureau (CFPB) and subject to its enforcement authority are dealing with of the agency’s sweeping authority to prohibit unfair, deceptive, and abusive acts or...more

FTC Announces Consent Order with Subprime Auto Lender for Alleged Violations of FDCPA, FCRA

The Federal Trade Commission recently announced a consent order with a subprime auto lender for alleged violations of the Federal Trade Commission Act (FTC Act), the Fair Debt Collection Practices Act (FDCPA), and the Fair...more

Orrick's Financial Industry Week in Review

EU Commission Sends Statement of Objections to Three Banks in Cartel Investigation - On May 20, the European Commission announced that it has sent a statement of objections to Credit Agricole, HSBC and JP Morgan for...more

Mortgage Lead Generator To Pay $250,000 in FTC Settlement on Deceptively Advertised Mortgage Rate Charges

GoLoansOnline.com, Inc., a Houston, Texas-based mortgage lead generator, will pay the Federal Trade Commission $250,000 under a settlement announced earlier this month of claims it operated mortgage lending websites that...more

Lessons from the FTC's Latest Lead Generation Enforcement Action

The Federal Trade Commission (FTC) recently announced a settlement of a lead generation enforcement action. The settlement reflects that the FTC remains focused on lead generation and, more specifically, mortgage advertising,...more

Regional FDIC Office Releases Overdraft Fee Guidance

Earlier this month the Kansas City Regional Office of the Federal Deposit Insurance Corporation (FDIC) released updated guidance on overdraft fees. The Regional Office noted that many changes have occurred in the...more

Can the CFPB be far behind?

Yesterday, the FTC announced that it has made its online Complaint Assistant easier to use for consumers who want to file a complaint with the FTC through their mobile device. While the CFPB has optimized its Spanish...more

Deal Carefully With Bitcoins Until Legislation Catches Up

Interest in cryptocurrencies is growing, even after Mt. Gox, formerly the largest international bitcoin exchange, filed for bankruptcy in Japan following $473 million in losses. Bitcoin’s resulting drop in value, from a...more

FDIC regional offices issue UDAP guidance on continuous overdraft fees

Based on the CFPB’s rulemaking agenda issued in December 2013, we continue to expect overdraft programs to be the subject of another CFPB white paper and/or an advance notice of proposed rulemaking this year. (In June 2013,...more

FTC Settles with Payday Lender over Alleged UDAAP Violations

The United States District Court for the District of South Dakota Central Division entered a final order and judgment approving a settlement between the FTC and a payday lender, in which the company agreed to pay civil money...more

FTC Announces Settlements with Data Brokers over Alleged FCRA Violations

The Federal Trade Commission recently announced two more settlements with data brokers for alleged violations of the Fair Credit Reporting Act (FCRA). The settlements with Instant Checkmate, Inc., InfoTrack Information...more

CFPB and FTC Representatives Speak at Symposium on Fine Print

CFPB General Counsel Meredith Fuchs and CFPB Assistant General Counsel for Law and Policy Anne Zorc spoke last week at the Georgetown Consumer Law Society and Citizen Works’ symposium entitled “Making the Fine Print Fair.”...more

CFPB Releases Report on Debt Collection Practices

The CFPB released a report summarizing the recent complaints of consumers in connection with debt collection practices. The report covered complaints that the CFPB received from July 10, 2013 through December 31, 2013. The...more

Nevada Federal Court Holds Tribal Lender Subject to FTC Jurisdiction

Adopting a magistrate judge’s report and recommendations, the United States District for the District of Nevada held that the FTC has enforcement jurisdiction over tribal payday lenders. ...more

Advertising News & Analysis - March 27, 2014

In this issue: - FTC Seeks Comment on Fair Packaging and Labeling Act Rules - Ink Still Drying on Supreme Court's Lexmark Decision - FTC says Weak Disclosures? Special Effects, Too? Nissan's on the Dark...more

Banking & Financial Services E-Note - March 27, 2014

In This Issue: - SEC Considers New Funding Rules for Shadow Banking System - Judge Backs FTC Authority to Pursue Payday Lenders - Regulator Estimates Volcker Rule Could Cost Banks Up to $4.3B - Appeals Court...more

Nevada Federal Court Affirms FTC’s Authority Over Tribal Payday Lending Businesses

On March 19, the FTC reported that the U.S. District Court for the District of Nevada held that the FTC Act “grants the FTC authority to regulate arms of Indian tribes, their employees, and their contractors,” including...more

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