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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

FTC Settles First Mortgage Advertising Rule Enforcement Action

The Federal Trade Commission recently announced a settlement of its first enforcement action under its Mortgage Acts and Practices - Advertising Final Rule (MAPR)....more

FTC Obtains Settlement Regarding Marketing Of Mortgage Refinancing Services To Servicemembers; Announces First Settlements In...

On June 27, the FTC announced that a mortgage broker will pay a $7.5 million civil penalty to resolve alleged violations of the agency’s Telemarketing Sales Rule (TSR) and Mortgage Acts and Practices – Advertising Rule (MAP...more

'Do Not Call' Violations Lead to $7.5 Million Civil Penalty

On Thursday, June 27, 2013, the Federal Trade Commission (“FTC”) announced that Mortgage Investors Corporation of Ohio, Inc. (“Mortgage Investors”) will pay a $7.5 million civil penalty for alleged violations of the...more

FTC Submits Financial Acts Enforcement Letter To CFPB

On May 14, the FTC released a letter it sent to the CFPB’s assistant directors for fair lending and supervision examinations describing activities related to the FTC’s administration and enforcement of the regulations...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

McCarn v. HSBC USA, Inc.: A Federal Court Dismisses a Plaintiff's Attempt to Apply Antitrust-Conspiracy Principles to a Consumer...

On November 13, 2012, the U.S. District Court for the Eastern District of California, in McCarn v. HSBC USA, Inc., 2012 U.S. Dist. LEXIS 162257, issued an important decision rejecting as inadequate a plaintiff’s attempt to...more

CFPB and FTC announce joint action against mortgage advertisers

The CFPB and FTC announced that they have sent warning letters to mortgage advertisers urging them to review their marketing materials to ensure that they comply with the Mortgage Acts and Practices-Advertising Rule...more

CFPB, FTC Announce Crackdown on Deceptive Mortgage Advertising

On November 19, 2012, the Federal Trade Commission and the Consumer Financial Protection Bureau announced that they have launched a new coordinated effort to protect consumers, focusing on mortgage advertisements that they...more

FTC Wins Judgment in Mortgage Modification Case

On July 2, the Federal Trade Commission (FTC) announced that it obtained a $2.6 million judgment against three defendants for failing to provide mortgage modification services after collecting upfront fees from borrowers. The...more

FTC Obtains Injunction, Asset Freeze on Alleged Mortgage Scam

The Federal Trade Commission has obtained an order from the federal court for the Central District of California for a preliminary injunction and asset freeze against all the defendants in an alleged mortgage modification...more

National Settlement Executive Summary 2012

EXECUTIVE SUMMARY OF MULTISTATE/FEDERAL SETTLEMENT OF FORECLOSURE MISCONDUCT CLAIMS written by Philip A. Lehman, Assistant Attorney General Consumer Protection Division, North Carolina Department of Justice. The...more

Home Loan Modification Tips

As the recession continues to take its toll, it is not uncommon for many home owners to try to renegotiate the terms of their loans. The main federal agencies responsible for regulating the loan modification and foreclosure...more

Late Night Emails to a Bankruptcy Attorney

When I opened my bankruptcy law practice here in the Phoenix area a while back I wanted to create a website where clients could easily communicate with me and learn about the bankruptcy process. In the morning when I check...more

FTC Takes Action on Fraudulent Mortgage Relief Companies

Every cent counts these days. And it is no wonder that scam programs are on the rise, including many socalled mortgage relief companies that promise to reduce your mortgage but deliver nothing. Of late the FTC has taken...more

FTC’s Mortgage Acts and Practices Advertising Rule May Not Help Consumers

The FTC recently issued the Mortgage Acts and Practices – Advertising Final Rule. This rule is the FTC’s response to a congressional directive to address unfair or deceptive acts in the mortgage loan industry. Briefly, the...more

For Real Estate Developers: Major Development in Enforcement of the Interstate Land Sales Full Disclosure Act

As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (“CFPB”) has now been charged with the enforcement of the Interstate Land Sales Full Disclosure Act (“ILSA”)...more

InfoBytes, July 22, 2011 - A Weekly In-depth review of news & developments in the financial services industry

In This Issue: Federal Issues; State Issues; Firm News; Mortgages; Banking; and Consumer Finance. Excerpt from Consumer Finance: FTC Issues Summary of Staff Interpretations; Withdraws Commentary. On the eve...more

AFSA Litigation - Year in Review

Kirk Jensen reviews the major topics of litigation in the area of financial services in this presentation to the American Financial Services Association (AFSA). He reviews the AT&T v. Concepcion case involving the...more

How to Protect Yourself From Mortgage Relief Scams: More Stress For Homeowners in Distress

THANKS ... to the Federal Trade Commission in Washington, DC, for kindly providing much of the information in this article. The possibility of losing your home to foreclosure can be terrifying. The fact that scam artists...more

Facing Foreclosure? Warning: Read This Important Message From the Federal Trade Commission

Scammers are targeting homeowners having trouble paying their mortgages! Some scammers claim to be able to "rescue" homeowners from foreclosures, while others promise loan modifications for a fee. The Federal Trade...more

REBA v. NREIS Ruling: Massachusetts Real Estate Attorneys Must Not Only Conduct Closings But Take “Substantive Participation” In...

The long awaited ruling from the Massachusetts Supreme Judicial Court in case of Real Estate Bar Association (REBA) v. National Estate Information Services (NREIS) has just come down. The net effect of the Court’s ruling is...more

FTC Issues New Rule on Mortgage Scammers

As the economic crisis continues for many homeowners, the Federal Trade Commission has taken actions to protect homeowners from mortgage relief scams. Most of the new requirements took effect on December 29, 2010, and all of...more

A Collection of Venable's Credit Counseling and Debt Services Legal Articles and Presentations from the Second Half of 2010

During the second half of 2010, there has been a great deal of federal and state activity touching on credit counseling and debt services, including: new rules for debt relief services under the Federal Trade Commission’s...more

New FTC Mortgage Assistance Rule Targets Lead Generators and Affiliate Marketers

On November 19, 2010, at the White House, with Vice President Biden at the podium, the Federal Trade Commission (the “FTC”) announced its long-expected Mortgage Assistance Relief Services (“MARS”) Rule (the “MARS Rule”)....more

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