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CFPB provides insight on treatment of big data

This will follow up on Barbara Mishkin’s January 14, 2016 blog “FTC warns use of big data may violate federal consumer protection laws.” At the American Bar Association’s Consumer Financial Services Committee meeting last...more

Are the Patent Trolls Vulnerable to Antitrust Claims?

We previously wrote about the nascent efforts of legislators, regulators, and representa­tives of technology-dependent industries to use the antitrust laws, such as Section 2 of the Sherman Act or Section 7 of the Clayton...more

Will Assignee Liability Increase as FTC Seeks Comments on the Holder Rule?

The “Adam’s Rib” of assignee liability ? the “Holder Rule” issued by the Federal Trade Commission (“FTC”) in 1976 ? is up for review. Imposing liability on innocent purchasers of consumer credit loans for the legal violations...more

Dodd-Frank News: January 2016: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Use of Big Data May Violate Federal Consumer Protection Laws, FTC Report Warns

A new Federal Trade Commission (FTC) report, "Big Data: A Tool for Inclusion or Exclusion? Understanding the Issues," warns that certain uses of big data consisting of consumer information may implicate various federal...more

FTC Report: With Big Data Can Come Big Responsibility

The Federal Trade Commission (“FTC”) issued a report this month entitled, “Big Data: A Tool for Inclusion or Exclusion.”1 The theme of the report is that there are benefits and risks associated with companies’ use of big...more

Big Data: FTC Issues Report Cautioning that Use of Big Data may Violate Federal Consumer Protection Laws or Raise Ethical...

On January 6, the FTC issued a report on the commercial use of big data, Big Data: A Tool for Inclusion or Exclusion? Understanding the Issues, summarizing the results of a September 2014 workshop and numerous public...more

A Cautionary Tale: FTC Warns Industry of Broad Meaning of “Debt Collector”

Although the Fair Debt Collection Practices Act (FDCPA) was enacted decades ago, its amorphous scope continues to frustrate the industry. The FTC recently cautioned debt collectors and creditors alike of the surprising...more

FTC and Florida AG Take Action Against Payment Processing Operation

On January 8, the FTC and Florida Attorney General Pam Bondi announced an amended complaint against a California-based processing sales organization, its three executives, and three telemarketing company owners (collectively...more

Global Cartel Enforcement 2015 Year in Review

Developing trends: Auto parts and financial services penalties dominated global enforcement fine totals in 2015. And while financial services will remain a focus for enforcers in 2016, several new antitrust...more

FTC Announces New Enforcement Actions Under the Operation Collection Protection Initiative

On January 7, the FTC announced four separate actions under its Operation Collection Protection initiative against collectors allegedly engaging in abusive and deceptive debt collection practices. It also announced that other...more

FTC Reveals Auto Distribution Workshop Agenda

On January 6, the FTC released the full agenda for its upcoming one-day workshop, “Auto Distribution: Current Issues and Future Trends,” scheduled to take place in Washington, D.C. on January 19. ...more

FTC Announces Settlements with Online Payday Lenders Over Alleged Violations of TILA and EFTA

On January 5, the FTC announced separate settlements with two online payday lenders to resolve charges dating back to April 2012 that the defendants violated TILA, the Federal Trade Commission Act (FTC Act), and the...more

FTC Proposes Survey of Consumer Experience in Financing Auto Purchases through Dealers

The Federal Trade Commission has announced plans to conduct a survey of consumers regarding their experiences in buying and financing automobiles at dealerships. According to the supplementary information in the notice...more

Recent Actions Added To UDAAP Database

PLA today updates the UDAAP database with a series of enforcement actions from the CFPB and, notably, the prudential regulators. The majority of enforcement actions involving allegedly unfair, deceptive, and abusive...more

What the FTC’s Settlement With Wyndham Means for Your Company

The recent settlement entered into between the Federal Trade Commission (FTC) Wyndham Hotels and Resorts and related companies (Wyndham) provides an important roadmap for companies seeking to avoid running afoul of the FTC’s...more

FTC Announces Settlements with Alleged Mortgage Modification Scammers

On December 15, the FTC announced stipulated court orders banning four individuals from selling debt relief products and services. According to the FTC, the individuals “promised consumers help getting their mortgages...more

FTC and Wyndham Call a Truce

Following the Third Circuit’s ruling upholding the FTC’s authority to regulate unfair and deceptive cybersecurity practices under Section 5 of the FTC Act, Wyndham Worldwide Corporation and the FTC have agreed to settle. ...more

Landmark Wyndham Settlement Provides Guidelines For Companies To Meet FTC’S Datasecurity Requirements

On December 9, Wyndham Hotels and Resorts (“Wyndham”) agreed to a landmark settlement with the Federal Trade Commission (“FTC”) stemming from the FTC’s lawsuit against it after three data breaches that occurred between 2008...more

CFPB files amicus brief in Seventh Circuit FDCPA case

The CFPB, together with the FTC, has filed an amicus brief in Franklin v. Parking Revenue Recovery Services, Inc., an FDCPA case pending in the Seventh Circuit. The CFPB joined the brief at the request of the FTC, which had...more

Your daily dose of financial news The Brief – 12.8.15

Investors are scrambling to put their money where they think the Fed’s mouth will be, betting an estimated $26.6 billion in net wagers through December 1 on the prices of 5-year Treasury-note futures falling. Such price drops...more

Federal Trade Commission Solicits Comments on Holder Rule

The Federal Trade Commission (FTC) just published a request for public comments on the economic impact of and continuing need for the Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses, commonly...more

Sprint Agrees to Pay FTC $2.95M Penalty to Settle FCRA Allegations

On October 21, 2015, the Federal Trade Commission announced an agreement with Sprint to resolve allegations that Sprint violated disclosure requirements of the Fair Credit Reporting Act (FCRA). Sprint will pay $2.95 million...more

FTC Announces Settlement with Ohio Auto Dealers

On November 24, the FTC announced that two Ohio auto dealers agreed to settle FTC charges that they deceived consumers with misleading advertisements. Specifically, the FTC alleged that the auto dealers violated the FTC Act...more

FTC Amends Telemarketing Sales Rule, Bans Payment Methods Used by Scammers

On November 18, the FTC announced that it approved, by a 3-1 vote, final amendments to the Telemarketing Sales Rule (TSR) that ban telemarketers from using certain payment methods that are commonly used by scammers. Per the...more

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