News & Analysis as of

Unfair or Deceptive Trade Practices Consumer Financial Protection Bureau

TCF National Bank obtains dismissal of CFPB’s Regulation E claims in overdraft services lawsuit

by Ballard Spahr LLP on

This past January, the CFPB filed a lawsuit against TCF National Bank in Minnesota federal district court that alleged that the bank, in connection with offering overdraft services, violated the Consumer Financial Protection...more

600,000 Reasons to Comply with the Fair Credit Reporting Act

by Ward and Smith, P.A. on

The United States Court of Appeals for the Fourth Circuit—which covers federal courts in North Carolina—recently affirmed a borrower’s victory against a loan servicer under the federal Fair Credit Reporting Act (“FCRA”). In...more

The CFPB Settles Litigation And Enforcement Action With Lead Aggregator, Zero Parallel, And Its CEO

by Ballard Spahr LLP on

On September 5, 2017, the CFPB entered into a consent order with Zero Parallel, LLC (“Zero Parallel”), an online lead aggregator based in Glendale, California. At the same time, it submitted a proposed order in the U.S....more

Update on CFPB/NY AG lawsuit against RD Legal Funding

by Ballard Spahr LLP on

RD Legal Funding, LLC is seeking to dismiss the lawsuit filed against it, two of its affiliates, and their individual principal in February 2017 by the CFPB and the New York Attorney General in a NY federal district court...more

The State AG Report Weekly Update

by Cozen O'Connor on

2018 AG Elections- Republican Sam McClure Announces Bid for Alabama Attorney General - Sam McClure, a Birmingham adoption lawyer, announced his candidacy to become the Alabama AG. McClure is the fourth Republican to...more

The State AG Report Weekly Update

by Cozen O'Connor on

Antitrust- FTC, North Dakota Attorney General Challenge Acquisition of Health Care Provider- The Federal Trade Commission (“FTC”) and North Dakota AG Wayne Stenehjem filed a joint complaint in federal district court...more

Court Tosses CFPB Suit Against Payment Processor

A payment processor scored a victory against the Consumer Financial Protection Bureau (CFPB) when a North Dakota federal court dismissed the Bureau's lawsuit for failing to plead facts sufficient to support the conclusion...more

Supreme Court Decides Henson v. Santander Consumer USA Inc.

by Faegre Baker Daniels on

On June 12, 2017, the Supreme Court decided Henson v. Santander Consumer USA Inc., No. 16–349, holding that a company may collect debts that it purchased for its own account without triggering the statutory definition of...more

SCOTUS’s FDCPA Opinion in Henson v. Santander: It’s Not Debt Collection When You Own It

by Balch & Bingham LLP on

Yesterday, the Supreme Court of the United States issued its opinion in Henson v. Santander Consumer USA, Inc.—Justice Gorsuch’s first as a Supreme Court Justice. The question presented was whether “individuals and entities...more

Proposed Consumer Contracts Restatement Critiqued at ALI Annual Meeting

by Ballard Spahr LLP on

At the American Law Institute (ALI) annual meeting in Washington, DC on May 22-24th, members had the opportunity to review a discussion draft of the Restatement of the Law Third, Consumer Contracts. The draft is the result...more

Federal district court refuses to dismiss CFPB lawsuit against law firms and attorneys for unlawful debt relief practices

by Ballard Spahr LLP on

A California federal district court has refused to dismiss a lawsuit filed by the CFPB in January 2017 against several law firms and attorneys alleging that the defendants violated the FTC’s Telemarketing Sales Rule (TSR) and...more

Navient Attacks CFPB UDAAP Enforcement Without Implementing Rules

by Ballard Spahr LLP on

One of the hallmarks of the CFPB’s enforcement actions has been its use of those actions to announce new legal standards. Navient attacks this enforcement strategy in its motion to dismiss a recent case brought against it by...more

FDIC announces settlement with bank and non-bank affiliated parties

by Ballard Spahr LLP on

The FDIC announced last week that it had entered into settlements with Bank of Lake Mills and two non-bank “institution-affiliated parties” through which the bank originated loans for allegedly engaging in unfair and...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

Two CFPB enforcement actions tried in federal court

by Ballard Spahr LLP on

Two enforcement actions filed by the CFPB recently went to trial in federal district court. One of the cases was filed by the CFPB in July 2014 in a Wisconsin federal district court against two law firms and four of the...more

CFPB doubles down on its attacks against online tribal lenders

by Ballard Spahr LLP on

In a new lawsuit filed in an Illinois federal district court, the CFPB alleges that four online tribal lenders engaged in unfair, deceptive, and abusive acts or practices in violation of the Consumer Financial Protection Act...more

CFPB Lawsuit Targets High-Interest Online Lenders

by Goodwin on

On April 27, 2017, the Consumer Financial Protection Bureau (CFPB) announced the filing of a suit against four online lenders alleging that the lenders illegally collected debts on invalid loans. The complaint alleged...more

CFPB weighs in on Eighth Circuit’s competent attorney standard, standing to bring FDCPA claim

by Ballard Spahr LLP on

The CFPB recently submitted an amicus brief to the Eighth Circuit, arguing that a debt collector cannot avoid liability under the FDCPA when it falsely represents the amount of a debt to a consumer’s attorney, rather than to...more

D.C. Circuit Rebukes CFPB in Civil Investigative Demand Enforcement Decision

by Pepper Hamilton LLP on

On April 21, the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion in CFPB v. Accrediting Council for Independent Colleges & Schools, affirming a decision by the D.C. district court to deny...more

D.C. Circuit affirms denial of CFPB petition to enforce CID issued to college accrediting organization

by Ballard Spahr LLP on

The D. C. Circuit has affirmed the D.C. federal district court’s April 2016 denial of the CFPB’s petition to enforce a CID issued to the Accrediting Council for Independent Colleges and Schools (ACICS) in August 2015....more

Blog: Avoiding Common Legal Issues at Coding Schools: Marketing

by Cooley LLP on

This is the first of a series of posts on common legal and regulatory pitfalls that alternative education providers must proactively avoid. Today’s topic is avoiding sloppy or overly aggressive marketing....more

Blockchain Week in Review - April 2017 #1

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

CFPB Fails to State Case Against Payment Processor

by McGuireWoods LLP on

The United States District Court for the District of North Dakota recently dismissed the Consumer Financial Protection Bureau’s (CFPB) complaint against a payment processor, Intercept, in a case McGuireWoods has been...more

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

by Ballard Spahr LLP on

On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

Bad System Conversion Leads to CFPB Consent Order for Prepaid Card Provider and its Vendor

The CFPB continues to flex its muscle and expand its reach, this time punishing a prepaid card provider and its vendor for a conversion to a new system that did not go as planned. The consent order, which was entered into...more

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Cybersecurity

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