Consumer Protection Updates

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Disclosure At The Mobile Check-Out: The FTC's View On Mobile Shopping Apps

In its August 1st report entitled "What's the Deal — An FTC Study on Mobile Shopping Apps," the FTC provides guidance on various disclosures that should be made by mobile apps along with reinforcing a number of prior...more

Federal Reserve Bank Paper Analyzes Credit Card Fair Lending Issues

The Federal Reserve Bank of Philadelphia recently published a discussion paper on credit card fair lending risks. The paper reviews qualitative fair lending risk assessment methods and potential quantitative analysis that may...more

Consumer Financial Protection Bureau Releases Virtual Currency Advisory

The US Consumer Financial Protection Bureau (CFPB) released an advisory on the risks of virtual currencies. The advisory was issued two months after the Government Accountability Office requested that the CFPB look more...more

Time Is Running Out to Complain About the Complaint Portal

The CFPB maintains a public Consumer Complaint Database through which consumers may file complaints regarding financial services and products (commonly referred to as the “Complaint Portal”). The CFPB currently discloses...more

SEC’s Office of Investor Education and Advocacy Releases Alert on Identifying Fraudulent Private Placements

On August 4, the Securities and Exchange Commission’s Office of Investor Education and Advocacy issued an Investor Alert to assist investors in identifying potentially fraudulent private placements. In the Alert, the Office...more

Class Certified in Homeopathic Products Case

The plaintiffs’ theory of harm drove a recent decision from the Central District of California certifying a nationwide class of purchasers of ten homeopathic products. Allen v. Hyland’s Inc., Case No. 12-01150 (C.D. Cal. Aug....more

Mortgage Lending: Important Lessons about Advertising, Affiliates, and Authorizations

On August 12, the Consumer Financial Protection Bureau (CFPB or Bureau) entered into a consent order with an online mortgage company, its affiliated appraisal company, and its chief executive officer; they agreed to pay $20.8...more

Recording Calls? Five Things You Can Do to Avoid the Litigation Frenzy

Restaurant chain Applebee’s has joined other businesses such as Overstock.com, Hilton, Capitol One, and Bass Pro Shops as defendants in purported class action lawsuits alleging that they illegally recorded calls to or from...more

CFPB Fines Online Mortgage Company And Its Owner For Alleged Deceptive Rate Advertising

On August 12, the CFPB announced a consent order with a nonbank mortgage lender, its affiliated appraisal management company (AMC), and the individual owner of both companies to resolve allegations that the lender deceptively...more

Consumer Protection Organization Petitions FTC To Enforce U.S.-EU Safe Harbor Framework

On August 14, the Center for Digital Democracy (CDD) announced that it filed a complaint with the FTC claiming that 30 U.S. companies are compiling, using, and sharing EU consumers’ personal information without their...more

Hospital Network Reports Large HIPAA Breach

Community Health Systems announced yesterday, August 18th, that hackers broke into its computers and stole data on 4.5 million patients. ...more

Senator Crapo raises concerns with Department of Education campus financial product rulemaking

Republican Senator Mike Crapo, Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, sent a letter last week to Department of Education (ED) Secretary Arne Duncan to raise several concerns with the...more

The Food Fight Continues: Vermont AG Seeks to Dismiss Lawsuit Against GMO Labeling Law

In June, we reported on a suit brought by the Grocery Manufacturers Association (“GMA”) seeking to rescind Vermont’s new GMO-labeling statute, Act 120. As we explained in that post, the GMA argues that Act 120 is doubly...more

Changes in State Breach Notification Laws

As data breaches continue to occur, breach notification laws are being amended or enacted. In the United States, state and federal breach notification laws should be monitored carefully regarding changes, as should breach...more

CFPB publishes annual CARD Act, HOEPA and QM adjustments

The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more

Feds, States Sweep Country for Mortgage Relief Scams

In an enforcement sweep dubbed “Operation Mis-Modification,” the Federal Trade Commission (FTC), Consumer Financial Protection Bureau (CFPB), and 15 state Attorneys General have targeted “foreclosure relief scammers that have...more

CFPB Announces Two Actions Related To Virtual Currencies

On August 11, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a “consumer advisory” concerning virtual currency and also announced that it would begin accepting consumer complaints about virtual currency...more

TCPA Connect - August 2014

Capital One Sets Record With $75M TCPA Deal - In what is believed to be the largest Telephone Consumer Protection Act (TCPA) settlement on record, Capital One Bank, related companies, and their third-party collection...more

CFPB Pressures Banks To Disclose Campus Marketing Agreements

On August 6, the CFPB’s Student Loan Ombudsman, Rohit Chopra, published a blog post addressing the financial arrangements between financial institutions and institutions of higher education that market financial products to...more

Status Updates - August 2014 #7

..Better shop around. In connection with a new staff report, the Federal Trade Commission (FTC) examined 121 popular apps used to comparison shop, find online deals and pay with mobile devices; the FTC concluded that many of...more

3rd Circ. Puts Debtors 1st In FDCPA Case

In McLaughlin v. Phelan Hallinan & Schmeig LLP, the Third Circuit recently held that debtors are not required to dispute a debt under Section 1692g of the Fair Debt Collection Practices Act, 15 U.S.C. § 1692 et seq., prior to...more

CFPB Opens Door for Prepaid Card, Nonbank Product Complaints

Expanding its collection of consumer complaints, the Consumer Financial Protection Bureau (CFPB) announced that it will now accept complaints regarding prepaid cards – including gift cards, benefit cards, and general purpose...more

CFPB Proposal Would Make 'HMDites' Of Us All

On July 24, the Consumer Financial Protection Bureau published long-awaited proposed revisions to its Home Mortgage Disclosure Act rules. The 573-page proposed rule would make sweeping changes to Regulation C, which...more

Corporate and Financial Weekly Digest - Volume IX, Issue 32

In this issue: - SEC’s Office of Investor Education and Advocacy Releases Alert on Identifying Fraudulent Private Placements - ICE Futures U.S. Issues Amendments to EFRP Rule and FAQs - Consumer Financial...more

Consumer Privacy Legislation? All Sides Weigh In But Remain Far Apart in the Big Debate Over Big Data

Recent comments filed by various stakeholders in response to the U.S. Commerce Department’s National Telecommunications and Information Administration’s (NTIA) Request for Public Comment (RFC) on “Big Data and Consumer...more

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