News & Analysis as of

Civil Penalty Fund

Mintz Levin Health Care Qui Tam Update: Recently Unsealed Whistleblower Cases

Featured Unsealed Cases United States ex rel. Thomas v. Best Choice Home Health Care Agency, Inc., No. 2:13-cv-02209 (D. Kan.) - Complaint Filed: May 6, 2013 - Complaint Unsealed: October 24, 2016...more

OIG issues report on CFPB civil penalty fund victim identification process

by Ballard Spahr LLP on

The Office of Inspector General for the Fed and CFPB has issued a report on the results of its audit of the CFPB’s process for identifying victims eligible to receive compensation from the Consumer Financial Civil Penalty...more

The Consumer Financial Protection Bureau's case against Citibank for violations relating to credit card add-on products

by Nexsen Pruet, PLLC on

Today we’re taking a look at the CFPB’s recent enforcement case against Citibank, N.A. (“Citibank”) and two of Citibank’s subsidiaries, Department Stores National Bank (“DSNB”) and Citicorp Credit Services, Inc. (USA) (“CCSI...more

CFPB Brings Two More Enforcement Actions Targeting Add-On Credit Products

by Carlton Fields on

Last week, the Consumer Financial Protection Bureau (CFPB) filed two more enforcement actions alleging deceptive and unfair practices in marketing and billing for add-on credit protection products. Add-on products have been...more

CFPB Using its Enforcement Powers Yet Again for UDAAP Violations, This Time Against PayPal

by Pepper Hamilton LLP on

Even after the PayPal settlement, the definition of “abusive” remains as subjective and fact specific as ever. On May 19, PayPal agreed to a $25 million settlement with the Consumer Financial Protection Bureau (CFPB or...more

OIG updated work plan adds focus to information security, compensation, and distribution of civil penalty funds

by Ballard Spahr LLP on

The most notable items added by the Office of Inspector General (OIG) to its work plan, updated as of July 7, 2014, are audits of the CFPB’s information security program, pay and compensation program, and distribution of...more

Rules Creating Exemptions to the ATR Rule Finalized

by Poyner Spruill LLP on

The Consumer Financial Protection Bureau (CFPB) recently finalized rules that modified and created specific exemptions to the CFPB’s Ability-to-Repay Rule. The rules have three main effects....more

New York Court Allows Disgorgement Coverage Action to Proceed

In its recent decision in J.P. Morgan Securities, Inc. v. Vigilant Ins. Co., 2013 N.Y. LEXIS 1465 (NY June 11, 2013), New York’s Court of Appeals – New York’s highest court – had occasion to consider whether an insured can...more

Financial Services Legislative and Regulatory Update -- April 29‚ 2013

In This Issue: Leading the Past Week; Legislative Branch; and Executive Branch. Excerpt from Leading the Past Week - The past week could be best described by one word. Chaos. In the House, a scheduled...more

CFPB issues civil penalty fund final rule and proposes revisions

by Ballard Spahr LLP on

Last Friday, the CFPB simultaneously issued a final rule to govern the administration of the Bureau’s Civil Penalty Fund (CPF) and proposed revisions to that rule. The final rule is effective immediately upon publication in...more

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