News & Analysis as of

Attorney Generals Consumer Financial Protection Bureau

CFPB and DOJ directed to address state AGs’ proposal to redirect unused settlement funds to NAAG

by Ballard Spahr LLP on

We previously reported that the Connecticut Attorney General, on behalf of the Attorneys General of Indiana, Kansas and Vermont, (the “state AGs”) had filed a joint motion to intervene in a CFPB enforcement action to request...more

The State AG Report Weekly Update April 2017

by Cozen O'Connor on

Consumer Protection - Colorado Attorney General Obtains Judgment Against Debt Collection Company - Colorado AG Cynthia Coffman obtained a judgment against debt collection company Peak Resolution LLC, its owner, and...more

CFPB Ordered by a New York Federal Court to "Show Me the Money"

by Clark Hill PLC on

Since the birth of the Consumer Financial Protection Bureau ("CFPB" or "Bureau") well over 150 Consent Orders have been entered against every sector of the financial services industry. Many of these Consent Orders came with a...more

Amid attacks, Attorney Generals from 17 states and the District of Columbia defend the CFPB’s Prepaid Account Rule

by Ballard Spahr LLP on

Since the CFPB issued its final rule for general purpose prepaid accounts on October 5, 2016, it has faced attacks from Congress and criticism from industry participants On April 5, in a letter to Congressional leaders,...more

Democratic lawmakers/ Democratic state AGs/ consumer advocacy groups seek reconsideration en banc of motions to intervene in PHH...

by Ballard Spahr LLP on

After the D.C. Circuit panel issued a per curiam order on February 2 denying the three motions to intervene that were filed in the PHH case, we expected the next development in the case to be a decision by the D.C. Circuit on...more

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

by Ballard Spahr LLP on

The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

D.C. Circuit denies motions to intervene in PHH case

by Ballard Spahr LLP on

The D.C. Circuit panel that issued the PHH decision last October has issued a per curiam order denying the three motions to intervene that were filed in the case last month....more

PHH files supplemental response to CFPB’s rehearing petition; opposes state AGs’ motion to intervene

by Ballard Spahr LLP on

This past Friday, PHH filed a supplemental response to the CFPB’s petition for en banc rehearing and a response opposing the motion filed by Democratic Attorneys General of 16 states and the District of Columbia to intervene...more

Democratic state AGs seek to intervene in PHH appeal

by Ballard Spahr LLP on

The Democratic Attorneys General of 16 states and the District of Columbia have filed a motion with the D.C. Circuit seeking to intervene in the PHH appeal.  The states are Connecticut, Delaware, Hawaii, Illinois, Iowa,...more

State AGs seek to intervene in CFPB enforcement action to modify settlement terms

by Ballard Spahr LLP on

The Attorneys General for the states of Connecticut, Indiana, Kansas, and Vermont recently took the unusual step of filing a joint motion to intervene to modify the settlement terms of a CFPB enforcement action....more

CFPB post-election changes could increase state enforcement activity

by Ballard Spahr LLP on

Since last Tuesday’s election, there has been much discussion of how expected changes under a Trump Administration are likely to reduce the CFPB’s impact, particularly in the enforcement arena. Little attention, however, has...more

Debt Collection Practices Under Scrutiny of CFPB and NY Attorney General

by McGuireWoods LLP on

On November 2, the Consumer Financial Protection Bureau (CFPB) and New York Attorney General filed a lawsuit in federal district court in New York over an alleged “massive, illegal debt-collection scheme” that supposedly...more

CFPB and NY AG File Joint Lawsuit Against Debt Collectors

by Goodwin on

On November 2, the Consumer Financial Protection Bureau (CFPB) and New York Attorney General (AG) announced the filing of a complaint in the United States District Court for the Western District of New York against...more

CFPB proposes rule expanding disclosure of confidential supervisory information to state AGs

by Ballard Spahr LLP on

Without an announcement, the CFPB has proposed a rule that would expand its discretion to share confidential supervisory information (CSI) with state attorneys general and other agencies that do not have supervisory authority...more

SCOTUS decides FDCPA case

by Ballard Spahr LLP on

On May 16, 2016, the U.S. Supreme Court unanimously held in Sheriff v. Gillie that an independent contractor to the Ohio Attorney General (OAG) did not mislead consumers in violation of the Fair Debt Collection Practices Act...more

Supreme Court Reshapes Consumer Financial Law with Two Recent Decisions

by Baker Donelson on

The Supreme Court issued two interesting decisions recently that will affect the consumer financial industry. In Spokeo, Inc. v. Robins, the Court held that when it comes to Fair Credit Reporting Act (FCRA) violations,...more

Consumer Groups Urge CFPB to Investigate T-Mobile’s ‘No-Contract’ Marketing

by McGuireWoods LLP on

In early December, several consumer groups joined in a letter asking the Consumer Financial Protection Bureau (CFPB) to investigate T-Mobile over allegedly misleading advertisements and abusive debt collection practices. The...more

FTC Announces ''Operation Collection Protection'' Developments

by Ballard Spahr LLP on

The Federal Trade Commission (FTC) has announced new developments in ''Operation Collection Protection,'' its new coordinated federal-state enforcement initiative targeting unlawful debt collection practices. The U.S....more

FTC, CFPB, and States Collaborate to Clamp Down on Illegal Debt Collection

by Reed Smith on

On November 4, the Federal Trade Commission announced an unprecedented coordinated federal-state enforcement effort targeting deceptive and abusive debt collection. This sweeping initiative, termed “Operation Collection...more

CFPB Brings Another Auto Lender Action, This Time for $48M

Why it matters - Continuing its focus on the auto lending industry, the Consumer Financial Protection Bureau (CFPB) ordered Westlake Services LLC and subsidiary Wilshire Consumer Credit LLC to pay roughly $48 million for...more

Regulators Keep Their Feet on the Gas in Actions Against Auto Lenders; NY AG Latest to Bring Suit

Why it matters - The automotive industry is continuing to face heavy scrutiny from regulators. On the heels of a Federal Trade Commission operation and new oversight from the Consumer Financial Protection Bureau, the...more

Credit Card Issuer Debt Collection Consent Order: The CFPB’s Latest Rulemaking Through Enforcement Effort

by Morrison & Foerster LLP on

On Wednesday, July 8, the CFPB announced its latest — and largest — settlement of claims of unfair and deceptive debt collection practices. The OCC and 47 State Attorneys General all were part of the overall settlement. The...more

Maryland AG and CFPB Announce Action Against Alleged Mortgage Kickback Scheme

by Williams Mullen on

Section 1042(a) of the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act (CFPA) empowers state Attorneys General (AGs) to bring civil actions to enforce federal consumer law against any person offering...more

CFPB, Virginia Attorney General Target Payday and Auto Title Lenders

by Williams Mullen on

Section 1031 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd Frank”) authorizes the Consumer Financial Protection Bureau (“CFPB”) to issue rules to prevent unfair, deceptive, or abusive acts or...more

Recent Settlements of Joint UDAAP Enforcement Between State and Federal Regulators

by Foley & Lardner LLP on

The Dodd-Frank Act (“Dodd-Frank”) granted to state attorneys general and state regulators much of the Consumer Financial Protection Bureau’s (“CFPB”) UDAAP authority. In particular, Dodd-Frank gives state attorneys authority...more

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