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FTC Obtains $1.3 Billion Judgment Against Individual Who Operated Payday Lenders

The Federal Trade Commission (FTC) has obtained a $1.3 billion judgment against the individual operator of several payday lenders and related servicing and marketing companies in a lawsuit filed in a Nevada federal district...more

Retail and Consumer Products Law Roundup - October 2016

Supreme Court to Review Credit Card Surcharge Statutes - Why it matters: In an effort to resolve a conflict between Circuits, the Supreme Court has agreed to hear arguments in a challenge to New York’s credit card...more

CFPB and California DBO Settle with Online Lender Over Alleged Misrepresentations

On September 27, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an online lender, after a joint investigation with the California Department of Business Oversight...more

To (Dis)Close for Comfort–FTC Workshop Seeks Effective Consumer Disclosures

A goal of providing effective disclosures to consumers is to allow consumers to make informed decisions. But what must be done to make disclosures effective? This was the question the Federal Trade Commission (FTC) explored...more

Alleged Mortgage Modification and Debt Relief Scammers to Pay FTC $13.5 Million

Last week, the Federal Trade Commission (“FTC”) announced that the United States District Court for the Middle District of Florida had granted a summary judgment motion against various businesses, law firms and individuals...more

CFPB to Participate in FTC Workshop on Consumer Disclosures

On September 15th, the FTC will hold a workshop to examine the testing and evaluation of disclosures that companies make to consumers about advertising claims, privacy practices, and other information. The FTC’s workshop...more

EU & Competition Law Update – August 2016

EU: Regulatory Scrutiny of Online Hotel Booking Continues - The 13 July 2016 saw the Competition and Markets Authority (CMA) announce that it had sent a questionnaire to a large sample of hotels throughout the UK. As...more

Class Action Roundup: Spring 2016

Welcome to the second 2016 edition of Class Action Roundup! The first quarter of the year witnessed a few key Supreme Court decisions, even with the passing of Justice Scalia, and several settlement cases decided. The issue...more

FTC Backs FCC’s Proposed Rule on TCPA Amendments for Calls Collecting Government Debt

The Federal Trade Commission's (FTC) Bureau of Consumer Protection issued a Staff Comment on June 16, 2016, supporting several of the Federal Communication Commission's (FCC) proposed regulations implementing amendments to...more

Regulators Raise Marketplace Lending Concerns at FTC FinTech Forum

The Federal Trade Commission (FTC) recently held a FinTech forum addressing marketplace lending. The forum was promoted by the FTC as the first in a series it plans to hold exploring emerging financial technology and its...more

In Case You Missed It: Launch Links - June 2016

Some interesting links we found across the web this week: Congressional Panel To Investigate The Fairness Of Pay TV Billing, Competitive Practices - There was plenty of startup news out of DC this week, starting...more

FTC holding FinTech forum on marketplace lending

On June 9, 2016, the FTC will host a “FinTech forum on marketplace lending,” the first in a forum series described by the FTC as “exploring emerging financial technology and its implications for consumers.” According to the...more

Canadian Competition Bureau to Study Technology Led Innovation in the Financial Services Industry

The Canadian Competition Bureau recently initiated a market study into technology led innovation in the Canadian financial services industry (FinTech). The Bureau is inviting interested stakeholders to file submissions...more

Texas Settles with PayPal over Money Transfer App Advertising and Privacy Practices

On Friday, Texas Attorney General Ken Paxton announced a settlement with PayPal, resolving allegations that its Venmo money transfer app violated the Texas Deceptive Trade Practices Act by failing to clearly disclose how...more

Spotlight on CFPB Enforcement

At this week’s NBPCA Power of Prepaid conference in Washington, DC, DWT Payments team member Adam Maarec joined a panel entitled “Spotlight on CFPB Enforcement: Uncovering Recent Trends, Targets and Priorities Surrounding...more

FTC to host June 9 forum on marketplace lending

The interest of federal regulators in marketplace lending continues to grow. In March 2016, the CFPB announced that it is taking complaints about marketplace lenders. In July 2015, the Treasury Department issued a request...more

FTC Highlights FDCPA Risks for Debt Collectors Using Social Media, Texts

The Federal Trade Commission (FTC) recently published a reminder to debt collectors of the Fair Debt Collection Practices Act (FDCPA) compliance risks that are created by the use of social media or text messages in connection...more

FTC Gets 3 Million Consumer Complaints in 2015

The Federal Trade Commission (FTC) received more than 3 million consumer complaints in 2015 with debt collection topping the list, according to its newly released Consumer Sentinel Network Data Book. The annual report, which...more

FTC Settles Claims Against Group Of Data Brokers Dealing In Personal Information

The Federal Trade Commission (“FTC”) announced on February 18 that it has reached settlements with three affiliated companies accused of selling the financial and other personal information of “hundreds of thousands” of...more

Legal Framework of Mobile Payments Presented in Pew Center White Paper

As consumers increasingly turn to mobile devices to pay their bills, shop online, and order rides and other services, a number of legal and practical questions emerge. Who regulates mobile financial services offered by...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

Disclosure Confusion in the Online Lead Generation Industry

This post is the second in a series we’re writing on the FTC’s workshop on online lead generation entitled Follow the Lead. In our first post, we explored how online lead generation works. Here, we will discuss two...more

FTC Finalizes Rule Banning Telemarketer Use of Remotely Created Payments

The Federal Trade Commission (FTC) has finalized changes to its telemarketing sales rule (TSR) that will prohibit sellers and telemarketers from creating or accepting remotely created payment orders or checks, cash-to-cash...more

Sprint Agrees to Pay FTC $2.95 Million to Settle Risk-Based Pricing Rule Charges Under the FCRA

Mobile service providers frequently look at their customers’ credit reports and scores to determine the best pricing plans for those customers. But asa recent settlement between Sprint Corporation and the Federal Trade...more

CMA discusses online platform regulation

CMA’s Chief Executive, Alex Chisholm, has given a speech on “platform regulation – antitrust law versus sector-specific legislation” in the digital communications market. He highlighted the need for antitrust law and sectoral...more

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