News & Analysis as of

Attorney General Financial Services Industry

Brownstein Hyatt Farber Schreck

State AGs and ESG: Political Whiplash for Policymakers and Investment Managers

After years of financial and investment firms solidifying their Environmental, Social and Governance (ESG) bona fides, the political push-and-pull surrounding “woke” investing seems to be causing a significant withdrawal from...more

Ballard Spahr LLP

FTC and Wisconsin AG enter into settlements with auto dealerships for alleged discriminatory financing practices deceptive add-on...

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The Federal Trade Commission and Wisconsin Attorney General have entered into settlements with a group of auto dealerships, their current and former corporate owners, and their general manager for allegedly engaging in...more

Troutman Pepper

Rhode Island AG Settles with Dealerships over Allegedly Charging Fees Not Included in Advertised Prices

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Rhode Island Attorney General Peter F. Neronha announced a total settlement of $557,815 with three car dealerships to resolve allegations that the dealerships...more

Ballard Spahr LLP

Republican and Democratic Attorneys General spar over implications for private employers of SCOTUS ruling on affirmative action

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As expected, the U.S. Supreme Court’s ruling in the Students for Fair Admissions Inc.’s lawsuit against Harvard University and the University of North Carolina, which challenged the constitutionality of the universities’ race...more

Ballard Spahr LLP

New York federal court stays lawsuit filed jointly by CFPB and New York Attorney General pending SCOTUS decision in CFSA

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In January 2023, the CFPB filed a lawsuit in a New York federal district court jointly with the New York Attorney General (NYAG) against an auto finance company alleging violations of the Consumer Financial Protection Act...more

Troutman Pepper

New York Federal Court Stays CFPB’s Lawsuit Against Indirect Auto Finance Company Pending U.S. Supreme Court Decision in CFPB...

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As discussed here, on January 4, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NY AG) filed a joint complaint in the U.S. District Court for the Southern District of New York against...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2023 # 4

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Troutman Pepper

DC OAG Resolves Alleged Usury and Deceptive Acts Violations With Community Lending Platform

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On May 10, SoLo Funds, Inc. (Solo), one of the largest community lending platforms in the United States, entered into a settlement with the District of Columbia attorney general (OAG). The settlement resolves claims that the...more

Orrick, Herrington & Sutcliffe LLP

California investigating mobile apps’ CCPA compliance

On January 27, the California attorney general announced an investigation into mobile applications’ compliance with the California Consumer Privacy Act (CCPA). The AG sent letters to businesses in the retail, travel, and food...more

Cozen O'Connor

The State AG Report Weekly Update April 2019 #3

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Consumer Protection- California Attorney General Settles With Auto Rental Company for Allegedly Overcharging Consumers for Vehicle Repairs- California AG Xavier Becerra reached a settlement with auto rental company...more

Cozen O'Connor

The State AG Report Weekly Update April 2019 #1

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Cannabis / Marijuana- FTC and FDA Issue Warning Letters to Companies Advertising and Selling Cannabidiol Products- The Federal Trade Commission (“FTC”) and the Food & Drug Administration (“FDA”) issued warning letters to...more

Manatt, Phelps & Phillips, LLP

State Enforcement: Attorneys General Tackle Pension Sales and Robosigning

State regulatory oversight continues, with Virginia Attorney General Mark R. Herring winning a $50 million court order, albeit by default judgment, against a pension sale company and a coalition of 42 state attorneys general...more

Kilpatrick

Arizona Attorney General Announces First Fintech Sandbox Participants

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As we previously reported, Arizona began accepting applications in August for its regulatory sandbox that “enables a participant to obtain limited access to Arizona’s market to test innovative financial products or services...more

Bracewell LLP

Post-Election Update 2018

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2018 MIDTERMS: The Power of Women, Possibility, and Partisan Rancor - The 2018 midterm elections showcased the power of women, both as candidates and as a key voting demographic. The elections represented a new political...more

Ballard Spahr LLP

NYAG submits letter on jurisdictional issues in RD Legal Funding case

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The New York Attorney General has submitted a letter to Judge Preska that responds to RD Legal Funding’s letter asking her to dismiss all of the NYAG’s federal and state claims....more

Davis Wright Tremaine LLP

Arizona Attorney General Launches Regulatory Sandbox Program for Fintech Companies

The financial technology company seeking to launch an innovative financial product or financial service—and in need of a group of consumers to test whether the idea even works—might consider working in Arizona’s FinTech...more

Ballard Spahr LLP

State AGs urge Senators to reject bills addressing Madden and “true lender”

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A group of 21 state attorneys general have sent a letter to the Senate majority and minority leaders as well as to the chairman and ranking member of the Senate Banking Committee urging them to reject H.R. 3299 (“Protecting...more

Ballard Spahr LLP

Georgia AG announces settlement with debt collection company

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On April 4, Georgia Attorney General Chris Carr (“AG Carr”) announced an $8.5 million settlement with a national debt collection company, resolving alleged Fair Debt Collection Practices Act (FDCPA) and the Georgia Fair...more

Cozen O'Connor

The State AG Report Weekly Update

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AG Elections- Democrat Joseph Siegelman Declares Candidacy for Alabama Attorney General- Democrat Joseph Siegelman, a Birmingham personal injury attorney and the son of former Alabama governor Don Siegelman, announced...more

Husch Blackwell LLP

U.S. Attorney General Reverses Policy on Legal Marijuana

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On January 4, 2018, U.S. Attorney General Jeff Sessions rescinded, effective immediately, previous enforcement priorities of the Department of Justice (DOJ) on marijuana, including the Cole Memo. The move creates uncertainty...more

Clark Hill PLC

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

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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

Ballard Spahr LLP

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

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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

Bradley Arant Boult Cummings LLP

State AGs Ask Supreme Court to Spark Major Expansion to Scope of Federal Debt Collection Law

Should a full-service consumer finance company be subject to federal debt collection law when it attempts to collect upon debt it purchased? Attorneys general from Maryland, the District of Columbia, California, New York, and...more

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

CFPB post-election changes could increase state enforcement activity

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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

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