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Consumer Protection Updates

Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:

Payday Debt Collector, Servicer Must Forgive $12M

Shortly before the Consumer Financial Protection Bureau (CFPB) issued its payday loan rule, the New York Department of Financial Services (DFS) announced a consent order with a payday loan servicer and debt collector totaling...more

EU & Competition Law Update – October 2017

by Bryan Cave on

When is a private company considered a public body and subject to the EU procurement rules? A recent European Court of Justice (“ECJ”) case has thrown up a novel legal issue which will be of interest to all public...more

Windows 10 Fails to “Go Dutch” When it Comes to Protecting Privacy: Data Privacy Trends

by CloudNine on

According to Silicon (Windows 10 Data Collection Branded A Breach Of Dutch Privacy Law, written by Roland Moore-Colyer), the Dutch Data Protection Authority (DPA) has declared that Windows 10 breaches the data protection law...more

Breaking: Republican Commissioner Mohorovic Departing the CPSC; Acting Chairman Buerkle Now Sole Republican in 3-1 Democratic...

This morning at the CPSC’s public hearing Commissioner Joe Mohorovic announced that he would be resigning from his position as a Commissioner, effective Friday, October 20th. Mohorovic announced that he would be joining the...more

Banking agencies identify key HMDA data fields

by Ballard Spahr LLP on

The federal banking agencies have issued guidance to financial institutions on the key data fields under the revised Home Mortgage Disclosure Act (HMDA) rules that will be used to test and validate the accuracy and...more

CFPB further updates HMDA Rule guidance materials

by Ballard Spahr LLP on

The CFPB recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1, 2018, and also posted a new guidance...more

CFPB Denied Restitutionary Relief in False Advertising Lawsuit Against Mortgage Services Company

by Dorsey & Whitney LLP on

In a Consumer Financial Protection Bureau (“CFPB”) action against a mortgage services company, its subsidiary, and its founder, a California district judged denied an award of $73.9 million in restitutionary relief, and...more

CFPB provides update on HMDA platform

by Ballard Spahr LLP on

In August 2017, we reported that the CFPB had given the mortgage industry a first look at the Internet-based platform it is developing for industry members to use to submit data under the Home Mortgage Disclosure Act (HMDA)....more

Cybersecurity 2018 – The Year in Preview: HIPAA Compliance

Like many things in Washington, the HIPAA landscape in 2018 will be shaped by the shifting priorities of President Trump’s new administration. Early signs point to less funding for the Office of Civil Rights (“OCR”) within...more

FTC Provides Guidance on Reasonable Data Security Practices (Part II of III)

by Patrick Law Group, LLC on

This is the second in a series of three articles on the FTC’s Stick with Security blog... Over the past 15 years, the Federal Trade Commission (FTC) has brought more than 60 cases against companies for unfair or deceptive...more

OCIE Publishes Risk Alert on Most Frequent Advertising Rule Compliance Issues Found During Examinations

by Dechert LLP on

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a National Exam Program Risk Alert on September 14, 2017 (Risk Alert). The Risk Alert highlights...more

Noreika-Cordray Dispute Escalates as Senate Nears Vote on CFPB Arbitration Rule

by Ballard Spahr LLP on

Since last summer, Acting U.S. Comptroller of the Currency Keith A. Noreika and CFPB Director Richard Cordray have exchanged polar-opposite views on whether the CFPB’s final arbitration rule should be repealed....more

Payday Loan Rule Finalized: “Ability to Repay” Requirements Narrowed, but Challenges and Risks Loom Large

by K&L Gates LLP on

On October 5, 2017, the Consumer Financial Protection Bureau (the “CFPB”) released its final rule targeting what it refers to as “payday debt traps” (the “Rule”). Among other things, the Rule will require lenders to make...more

Looming Ruling on EU Data Transfer Rules Carries Potentially Serious Implications

by Jones Day on

The Situation: The European Court of Justice ("ECJ") is to rule on the validity of EU Standard Contractual Clauses used by companies to transfer personal data outside of the European Union, at the request of Ireland's High...more

Three Point Shot - September 2017

by Proskauer Rose LLP on

On August 25th, 2017, in a convincing knockout, a federal judge in Los Angeles dismissed dozens of lawsuits against Manny Pacquiao and Floyd Mayweather alleging Pacquiao's concealed shoulder injury impacted the quality of...more

Foreign No More: Transferring Data on Demand U.S. Companies and GDPR Data Portability

Much has been written about the consternation and concern of businesses around the world regarding the European Union’s General Data Protection Regulation (GDPR), which takes effect on May 25, 2018. The GDPR applies to...more

Preemption, Puffery Defenses Can’t Overcome Ginger Ale Suit

A California federal court judge rejected both puffery and preemption arguments when it denied Dr. Pepper Snapple Group’s motion to dismiss a putative class action challenging the labeling for its Canada Dry Ginger Ale....more

Illinois Revises Residential Mortgage License Act Provisions

by Ballard Spahr LLP on

The Illinois Department of Financial and Professional Regulation adopted rules to repeal and amend parts of the Residential Mortgage License Act, including, but not limited to...more

Courts Appear to Be Losing Patience with ACA Int’l Stay Requests as One-Year Anniversary Looms

by Dorsey & Whitney LLP on

It is hard to believe, but this coming Thursday will mark the one-year anniversary of the oral argument in the big ACA, Int’l appeal of the FCC’s Omnibus Telephone Consumer Protection Act (“TCPA”) ruling. For the...more

More details on finance industry’s CFPB arbitration rule lawsuit

by Ballard Spahr LLP on

As promised previously, here are further details on the lawsuit filed by industry groups against the CFPB to overturn the final arbitration rule.  The complaint largely mirrors our heavy criticism of the rule. ...more

Eleventh Circuit Continues To Explore Definition Of Debt Collector

An unpublished opinion from the Eleventh Circuit continues its analysis of the definition of a debt collector and continues to narrow the applicability of the FDCPA. As many may recall, the Eleventh Circuit’s opinion in...more

Earlier deadline for Senate to pass CRA resolution to override CFPB arbitration rule

by Ballard Spahr LLP on

In a recent blog post, we estimated that, as a practical matter, November 16 was the last day on which the Senate could pass a resolution of disapproval under the Congressional Review Act to override the CFPB arbitration...more

Antitrust Claims Against Telescope Manufacturer Ningbo Sunny Dismissed and Shot into Space

On September 28, 2017, Judge Edward Davila dismissed an antitrust complaint filed by Optronic Technologies, Inc. (dba Orion) against Ningbo Sunny Electronic Co., Ltd., Sunny Optics, Inc. and Meade Instruments Corp. The case...more

Regulation Of Dietary Supplements

by Fox Rothschild LLP on

The U.S. Food and Drug Administration (“FDA”) regulates dietary supplements as food, not as drugs. In general, dietary supplements are taken orally and contain a dietary ingredient such as a vitamin, mineral, amino acid,...more

FTC’s “Stick With Security” #5: Segment Your Network And Monitor Who’s Trying To Get In And Out

by Snell & Wilmer on

On August 25, 2017, the FTC released its fifth “Stick with Security” principal, which focused on how companies can protect their virtual “entrances and exits” and make life harder for hackers. The FTC believes that the...more

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