News & Analysis as of

Consent Order

FTC Uses Consumer Complaints to Combat Alleged Robocalls

by Goodwin on

The Federal Trade Commission (FTC) is using consumer complaints in its effort to quell alleged illegal robocalls. On September 1, 2009, the FTC issued rules prohibiting robocalls made without a consumer’s prior written...more

Virginia AG Settles with Local Small Dollar Lender Over Excessive Fees

by Goodwin on

On August 1, 2017, the Virginia Attorney General’s Office (AG) announced? that it had entered into a consent order with a state pawnbroker, settling allegations that the company overcharged consumers and was “skirting...more

CFPB Orders National Bank to Pay $4.6 Million in Civil Penalties for Credit Reporting Practices

by Goodwin on

On August 2, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a national bank, resolving allegations as to the bank’s allegedly unlawful credit reporting...more

Debt Collection Firm Enters Consent Judgment for $1 Million in Restitution with Massachusetts AG

by Goodwin on

On July 27, 2017, the Massachusetts Attorney General’s Office (Massachusetts AG) annou??nced that it ?entered into a consent judgment? with the largest debt collection law firm in the state and two of its principals. The...more

Settling claims with one joint tortfeasor

by Allen & Overy LLP on

Settlement with one tortfeasor resulted in claims against another tortfeasor being released too, which was not what the claimant had intended. In this regard, the Court of Appeal highlighted the distinction between a...more

Defence & Indemnity - June 2017 : Insurance Issues B. Stairs v. CFM Corp., 2017 NBCA 8 [4226]

by Field Law on

I. INSURANCE ISSUES B. In Alberta an insured’s settlement with a third party which releases the third party does not preclude the insured’s insurer from pursuing a subrogated claim against the third party. Elsewhere in...more

Access to confidential information and court documents in procurement cases

by Dentons on

Procurement challenges focus on sensitive issues for parties and non-parties to the dispute. Information about evaluation, the challenger's unsuccessful bid and the winning bid are all likely to be relevant. Both parties and...more

For-Profit Student Loan Consolidator Reaches Consent Order with State of New Jersey

by Goodwin on

?On June 16, 2017, the New Jersey Office of the Attorney General (“New Jersey AG”) and the New Jersey Division of Consumer Affairs announced a settlement with a for-profit student loan consolidation service that allegedly...more

Financial Services Report - Summer 2017

by Morrison & Foerster LLP on

EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more

Financial Services Weekly News - June 2017 #2

by Goodwin on

Editor's Note - Financial Regulatory Reform Picks Up Speed. The Trump administration, which views burdensome and costly regulation as a significant impediment to lending and economic growth, has consistently maintained...more

CFPB Announces Consent Order for Mortgage Servicing Violations

by Ballard Spahr LLP on

The CFPB recently announced that it has entered into a consent order with Fay Servicing, LLC (“Fay”) to settle alleged mortgage servicing violations. A copy of the consent order can be found here. As is typical for CFPB...more

State AGs Again Target Abuses Against Student Borrowers, Military

Demonstrating the continuing enforcement activity by state attorneys general with respect to student lending and active servicemembers, the AGs in Massachusetts and New York recently obtained consent orders from,...more

Car Dealership Agrees to Consent Order to Pay $5.1 Million in Debt Forgiveness

by Goodwin on

On June 2, 2017, the Florida Attorney General (“Florida AG”) announced that it entered? into a consent order with a Florida car dealership and its president following allegations that the dealership and the individual...more

THE LATEST: American Guild of Organists Reaches Settlement Agreement with the FTC over Challenged Professional Association Rules

by McDermott Will & Emery on

The two current commissioners of the Federal Trade Commission (FTC) approved a final order and consent agreement with the American Guild of Organists (AGO) after a public comment period of two months. The FTC alleged that the...more

Dietary Supplement & Cosmetics Legal Bulletin | May 2017

Senators Call For Removal of Dioxane from Cosmetic Products - U.S. Sens. Chuck Schumer (DN. Y.) and Kirsten Gillibrand (DN. Y.) have petitioned the Food and Drug Administration to prohibit detectable levels of 1,4dioxane...more

New York-Based Debt Collector Banned from Doing Business in Kansas

by Goodwin on

On May 26, 2017, Kansas Attorney General Derek Schmidt (Kansas AG) announced that a New York-based debt collector and its owner were banned from debt collection and enforcement in Kansas. Shawnee County District Court Judge...more

Service Breakdown Costs Prepaid Card Company, Processor $13M

The Consumer Financial Protection Bureau (CFPB) entered into a Consent Order on January 31 with UniRush, a prepaid debit card company, and its processor over a breakdown in October 2015 that left RushCard holders unable to...more

CFPB Claims National Bank Impeded Loss Mitigation for Distressed Mortgage Borrowers

In separate consent orders, one bank will pay $28.8 million to resolve claims by the Consumer Financial Protection Bureau (CFPB) that it gave its distressed mortgage borrowers the "run-around" during the loss mitigation...more

Virginia AG Settles Action Against Pawnbroker Over Illegal Interest Rates

by Goodwin on

On May 9, 2017, the Attorney General for the Commonwealth of Virginia (Virginia AG) announced that it had entered into a proposed consent order to resolve an action filed in Spotsylvania County Circuit Court against a...more

CFPB Settlements: It’s Not Over Until It’s Over

by Foley & Lardner LLP on

On April 26, 2017, the Consumer Financial Protection Bureau (“CFPB”) broke new ground by imposing a fine – in excess of a million dollars – against a consumer financial services company for allegedly violating the terms of...more

CFPB and DOJ file submissions opposing 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 against...more

Update on Significant DOT, FAA and Other Federal Agencies’ Aviation-Related Regulatory Actions - May 2017

by Cozen O'Connor on

This edition of the Cozen O’Connor Aviation Regulatory Update discusses the FAA’s regulatory reform review, the FAA’s and PHMSA’s increases in civil penalty amounts, recent amendments of hazardous materials regulations, the...more

Financial Services Weekly News - May 2017

by Goodwin on

Editor's Note - In This Issue. The Senate confirmed Jay Clayton as the new chairman of the U.S. Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC) released its final handbook for...more

CFPB Fines Auto Lender $1.25 Million for Violations of Consent Order

by Goodwin on

?On April 26, 2017, the Consumer Finance Protection Bureau (CFPB) announced that it reached a consent order with an Ohio-based auto lender that allegedly violated a prior CFPB consent order by failing to properly return $1...more

Financial Services Weekly News - April 2017 #4

by Goodwin on

Editor's Note - State Regulators Sue OCC Over Federal FinTech Charter. On April 26, the Conference of State Bank Supervisors (CSBS) sued the Office of the Comptroller of the Currency (OCC) in the U.S. District Court for...more

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Cybersecurity

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