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CFPB September 2016 complaint report highlights money transfer complaints, complaints from Pennsylvania consumers

The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area.  The CFPB began taking money transfer...more

FCC Issues Two Key TCPA Orders

In the past two weeks, the Federal Communications Commission (FCC) issued two important orders that modified and clarified the agency’s rules for enforcement of the Telephone Consumer Protection Act (TCPA). Both orders are...more

Your daily dose of financial news - The Brief – 7.21.16

The Treasury Dept’s Office of Financial Research has found that money-market funds are increasingly entering into direct repurchase loans with large investors and insurers—another sign that “participants in short-term lending...more

Naming Rights, Sponsorships, Advertising and Other Private Business Use Relating to Texas Public High School Stadiums and Other...

In addition to building some of the nation's largest high school football stadiums, Texas public school districts are following a national trend – the sale of naming rights to football stadiums and other district facilities....more

CFPB Releases Spring 2016 Rulemaking Agenda

The Consumer Financial Protection Bureau (CFPB) has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not...more

CFPB May 2016 complaint report highlights credit reporting complaints, complaints from New Mexico consumers

The CFPB has issued its May 2016 complaint report which highlights complaints about credit reporting  and complaints from consumers in New Mexico and the Albuquerque metro area.  The CFPB began taking complaints about credit...more

Class Action TCPA Case Dismissed Because Calls Were Made Solely To Collect a Debt Owed To Or Guaranteed By The United States

The Pennsylvania Higher Education Assistance Agency autodialed student debtor, Neil Silver, in January 2014 in an effort to collect on student debt. Silver claimed that these calls were made without his consent, and therefore...more

Another New Day in Cuba: The Obama Administration Further Loosens U.S. Sanctions

On March 16, 2016, the Obama Administration further loosened sanctions on Cuba in accordance with President Obama’s policy previously announced on December 17, 2014, and partially implemented thus far, to engage and empower...more

CFPB announces settlement of lawsuit against student loan debt relief company

The CFPB announced the filing of a proposed stipulated final judgment and order in its December 2014 lawsuit against Student Loan Processing.US (a fictitious business name of Irvine Web Works, Inc.) and its individual owner....more

Consumer Financial Services Litigation - Year In Review

In 2015, the consumer financial services industry continued to face increasing pressure, from regulators and government enforcement activity, and ever-more creative litigation tactics. In order to stay competitive—and to...more

Alert: Beware of Predatory Student Debt Relief Advertisements that Target Your School

In a recent trend, student debt relief scammers are engaging in aggressive marketing tactics by placing advertisements that target student loan borrowers from a specific institution of higher education. These advertisements...more

Senators urges Dept. of Education to delay use of robocalls in collection of federal student loans

In a letter sent last week to U.S. Department of Education Secretary Arne Duncan, four U.S. Senators urge the ED “to direct federal student loan servicers, debt collectors, and all other third parties” to delay use of the new...more

Department of Education invites comments on new complaint online system

The Department of Education has published a notice in the Federal Register inviting comments on its plans to create a new Web site by July 1, 2016 for students and borrowers to file complaints about federal student loans. The...more

U.S. Departments of the Treasury and Commerce Announce Additional Revisions to Cuba Sanctions Regulations

Last week, the Department of the Treasury and the Department of Commerce announced additional revisions to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), building off the changes put...more

CFPB alerts Google to student debt relief scammers

Rohit Chopra, the CFPB’s outgoing Student Loan Ombudsman, has sent a letter to Google to alert the company that “student loan debt relief scammers may be targeting student loan borrowers through the company’s search...more

UDAAP Round Up: 2014 Year in Review

In this issue: - A. UDAP/UDAAP Actions - 1. Auto Lending - 2. Banking Products - 3. Credit Card Add-On Products - 4. Credit Card Advertising - 5. Credit Reporting and...more

CFPB announces lawsuits against student loan debt relief companies

On December 11, the CFPB announced lawsuits against two student loan debt relief companies alleged to have deceived borrowers into paying upfront fees for federal student loan repayment benefits that are available for free....more

The CFPB Requests That Agreements Marketing Financial Products to Students Enrolled in Institutions of Higher Education be...

As a follow up to its initial inquiry earlier this year, the Consumer Financial Protection Bureau (“CFPB”) is alerting financial institutions about the “potentially risky practice of making secret payments” to colleges and...more

CFPB calls for public disclosure of campus financial product marketing agreements

The CFPB wants financial institutions to post on their websites their marketing agreements with colleges and universities for financial products other than credit cards, such as deposit accounts, prepaid cards and financial...more

FTC Revises Vocational School Guides

The Federal Trade Commission has revised its Guides for Private Vocational and Distance Education Schools, generally referred to as the “Vocational School Guides” (Guides). The Guides are intended to advise businesses that...more

CFPB and State Attorneys General cooperate in military arena

The investigation that led to the settlement announced last week among 20 State Attorneys General and QuinStreet, Inc., the owner of a website that markets educational institutions to military servicemembers and their...more

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