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Finance & Banking Consumer Protection Antitrust & Trade Regulation

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FDIC Announces Settlements With Wisconsin Banks Over Lending Violations

by Goodwin on

On May 11, 2017, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with a Wisconsin bank and two affiliated institutions, resolving allegations that the three lenders violated Section 5 of the Federal...more

FDIC announces settlement with bank and non-bank affiliated parties

by Ballard Spahr LLP on

The FDIC announced last week that it had entered into settlements with Bank of Lake Mills and two non-bank “institution-affiliated parties” through which the bank originated loans for allegedly engaging in unfair and...more

Climate for Student Loan Oversight Gets Hotter with Recommendation of Top CFPB Student Loan Official for FTC Commissioner

by Hinshaw & Culbertson LLP on

While most mainstream media outlets are pulling a Jan Brady and reporting "Comey, Comey, Comey," the consumer financial services community should be chewing on a different name right now: "Chopra, Chopra, Chopra."...more

Preparing for Antitrust Scrutiny of Arranger and Lender Conduct in Leveraged Loan Commitment Process

As a result of the announcement by the European Commission in its 2017 Management Plan that it will possibly engage in a sector inquiry under Article 17 of Regulation 1/2003 of the Treaty on the Functioning of the European...more

Federal court upholds FTC opinion applying TSR robocall consent requirement to calls made using soundboard technology

by Ballard Spahr LLP on

A D.C. federal district court has rejected a trade group’s attempt to invalidate a November 2016 FTC opinion in which the agency concluded that outbound telemarketing calls made using soundboard technology are subject to the...more

FTC releases final agenda for May 24 identity theft conference

by Ballard Spahr LLP on

On May 24, 2017, the FTC will hold a daylong conference on identity theft in Washington, D.C. The conference, “Planning for the Future,” will include panel discussions about how identity thieves acquire and use consumer...more

Operation Collection Protection Secures $2 Million Civil Penalty Against President of Debt Collection Company

by Goodwin on

On April 12, 2017, the Federal Trade Commission (FTC) announced that it had secured a $2 million civil penalty against the president of a debt collection company for violating the Fair Debt Collection Practices Act (FDCPA) in...more

President of Debt Collector Ordered to Pay $2 Million for FDCPA Violation

by Goodwin on

On April 24, 2017, Federal Trade Commission (FTC) announced that a federal court ordered the president of a debt collection company to pay $2 million in civil penalties under the Federal Trade Commission Act (FTC Act) and the...more

Court orders former president of debt collection company to pay $2 million penalty to FTC for alleged FDCPA/FTC Act violations

by Ballard Spahr LLP on

A Texas federal district court has entered a $2 million civil penalty judgment against the former president of a debt collection company for alleged violations of the FDCPA and FTC Act. ...more

FTC Privacy and Data Security Enforcement Activity Continues Unabated under the Trump Administration

by Ballard Spahr LLP on

Last week, the Federal Trade Commission (FTC) Bureau of Consumer Protection’s Acting Director, Thomas Pahl, posted on the FTC’s Business Blog about the FTC’s role as the federal agency with the “broadest jurisdiction” to...more

FTC announces streamlining initiatives

by Ballard Spahr LLP on

The FTC issued a press release earlier this week in which it stated that it is “moving aggressively to implement Presidential directives aimed at eliminating wasteful, unnecessary regulations and processes.” ...more

Blog: Avoiding Common Legal Issues at Coding Schools: Marketing

by Cooley LLP on

This is the first of a series of posts on common legal and regulatory pitfalls that alternative education providers must proactively avoid. Today’s topic is avoiding sloppy or overly aggressive marketing....more

A Money Laundering Nightmare: Western Union Ponies Up $770 Million to Settle with DOJ, FTC and FinCEN

by Michael Volkov on

Earlier this year, in January 2017, Western Union entered into a Deferred Prosecution Agreement with the Justice Department and the FTC, and agreed to pay $586 in forfeiture to settle anti-money laundering and consumer fraud...more

FTC Announces Settlement with Municipal Debt Collector Over Alleged Abusive Debt Collection Practices

by Goodwin on

?On March 24, 2017, the Federal Trade Commission (FTC) announced? that it entered into a consent order with a debt collection company, resolving allegations that the company engaged in unfair and abusive debt collection...more

FTC Issues Order Against Debt Relief Company for Alleged Misrepresentations

by Goodwin on

On February 27, 2017, the Federal Trade Commission (FTC) entered into a stipulated order for permanent injunction and monetary judgment with defendants United Debt Counselors, LLC, a debt relief company, and its principals,...more

Financial Services Weekly News - March 2017 #3

by Goodwin on

Editor's Note - The Return of Glass-Steagall? On March 13, Federal Deposit Insurance Corporation Vice Chairman Thomas M. Hoenig made a speech to the Institute of International Bankers Annual Washington Conference...more

FTC Hosts FinTech Forum on Artificial Intelligence and Blockchain Technologies

by Hogan Lovells on

On Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This was the FTC’s third forum on...more

National Debt Relief Provider Reaches $9 Million Settlement with FTC for Deceptive Solicitations

by Goodwin on

On March 7, the Federal Trade Commission (FTC) announced that the United States District Court for the Eastern District of Texas entered a stipulated order prohibiting a national debt relief provider from making misleading...more

FTC Settles with Remaining Defendant in Alleged Mortgage Scam Case

by Goodwin on

On February 21, 2017, the United States District Court for the Central District of California issued a stipulated order as to the final defendant in an alleged mortgage-relief scam. The court had entered judgment against the...more

KL Snapshot #12 – Janvier-Février 2017

Banque & Finance – Hubert de Vauplane - Rapport Terra Nova : Les conflits d'intérêts, nouvelle frontière de la démocratie de février 2017 - Hubert De Vauplane a été auditionné le 20/03/15 dans le cadre de la...more

FTC Reaches $1.7 Million Settlement with Final Defendant in Mortgage Relief Scheme

by Goodwin on

On February 23, 2017, the Federal Trade Commission (FTC) announced that it entered into a settlement with the final individual defendant in an alleged mortgage relief scheme worth over $1.7 million. As a result of a...more

FTC sends letter to CFPB on 2016 debt collection activities

by Ballard Spahr LLP on

The FTC has sent a letter to the CFPB summarizing the FTC’s debt collection activities in 2016.  The letter is intended to provide the CFPB with information for its annual report to Congress on the federal government’s FDCPA...more

FTC sends 2016 ECOA report to CFPB

by Ballard Spahr LLP on

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. The FTC has authority to enforce the ECOA and Reg B as to...more

FTC Announces Changes at the Helm of the Bureau of Consumer Protection; Thomas Pahl to Take Over as Acting Bureau Director...

by Kelley Drye & Warren LLP on

Acting Chairman of the Federal Trade Commission Maureen Ohlhausen announced today that Thomas Pahl – a current partner at Arnall Golden Gregory with significant experience at both the FTC and the Consumer Financial Protection...more

Corporate E-Note - January 2017

by Burr & Forman on

The IRS has announced it will begin treating certain syndicated conservation easement transactions and “substantially similar” transactions as “listed transactions.” Notice 2017-20 published on December 23, 2016 (the...more

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