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Wiley Rein LLP

Wiley Consumer Protection Download (September 17, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Alston & Bird

Strike Force on Unfair and Illegal Pricing Holds First Public Meeting: CFPB Director Highlights Work on Junk Fees

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What Happened? As reported by Alston & Bird’s Antitrust Group, the Federal Trade Commission and the Department of Justice hosted the first public meeting of the Strike Force on Unfair and Illegal Pricing (the “Strike...more

Hudson Cook, LLP

CFPB Bites of the Month Webinar Recap: The CFPB and the Dust of June

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In this month's article, we share some of our top "bites" covered during the June 2024 webinar....more

Goodwin

CFPB Files Suit Against Student Loan Servicer

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On May 31, 2024, the CFPB announced that it had filed suit against a Pennsylvania-based student loan servicer for engaging in allegedly unfair, deceptive and abusive acts or practices in violation of the CFPA, 12 U.S.C. §§...more

Ballard Spahr LLP

CFPB alleges dark patterns in suit against fintech peer-to-peer lender

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On May 17, 2024, the Consumer Financial Protection Bureau (“CFPB”) filed suit against an online lending platform, alleging, among other things, the use of dark patterns to induce consumers to pay tips and donations,...more

Goodwin

Traps for the Unwary: Using Alternative Credit Data to Expand Credit Access to LMI Individuals and Underrepresented Communities

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Traditional credit underwriting methods, which are generally based on credit reports, have not always successfully captured the full picture of a borrower’s ability to repay. It is estimated that more than 45 million US...more

Orrick, Herrington & Sutcliffe LLP

Washington enacts measures regulating credit repair services

On April 20, the Washington governor signed HB 1311 to enact provisions relating to credit repair services performed by a credit services organization. Among other things, the Act outlines new requirements, including that a...more

Orrick, Herrington & Sutcliffe LLP

9th Circuit affirms decision in FCRA, CFPA, and TSR suit

In December, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s ruling holding an individual liable for violations of the FCRA, the TSR, and the CFPA after the defendant, who allegedly “played a...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Issue 10, 2022

A recent survey by PricewaterhouseCoopers revealed that U.S. executives now consider cyberattacks the number one risk their companies face. Concerns about cybersecurity have moved beyond the Chief Information Security Office...more

Wilson Sonsini Goodrich & Rosati

Consumer Financial Protection Bureau Alleges Dark Patterns in Advertising of Financial Products; Files Suit Against TransUnion and...

On April 12, 2022, the U.S. Consumer Financial Protection Bureau (CFPB) filed a lawsuit against TransUnion, two of its subsidiaries, and former TransUnion executive John Danaher in his individual capacity for violating an...more

Cozen O'Connor

The State AG Report – 1.20.2022

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Student Loan Servicer Agrees to Cancel $1.7...more

Sheppard Mullin Richter & Hampton LLP

FTC: Provider of Business Credit Reports Engaged in Deceptive and Unfair Practices, Refunds Customers

On January 13, the FTC announced that a leading business credit report provider agreed to settle allegations that it had engaged in deceptive and unfair business practices. The FTC alleged that businesses complained of...more

Cozen O'Connor

Dun & Bradstreet Agrees to Refund Consumers and Reform Its Marketing and Credit Report Correction Practices

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The FTC reached a settlement with business credit reports provider Dun & Bradstreet, Inc. to resolve allegations that D&B used deceptive and unfair practices to sell its products to small and mid-sized businesses...more

Venable LLP

FTC to Dun & Bradstreet: Change Credit Reporting Operations to Benefit Business Customers

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Last week, the Federal Trade Commission (FTC) announced that it agreed to settle claims against Dun & Bradstreet (D&B), a business credit reporting agency engaged in deceptive and unfair practices with small and mid-sized...more

Carlton Fields

Financial Services Update: Week Ending November 1, 2019

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Financial Services Update - FCCPA and FDCPA: The plaintiff did not demonstrate a genuine issue of material fact that medical providers and their attorney violated the FCCPA and FDCPA by conditioning medical services on a...more

Ballard Spahr LLP

Debt Collector Enters into Consent Order with CFPB to Settle Alleged FDCPA and UDAAP Violations

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Last week, the CFPB announced that that it had entered into a consent order with an Illinois-based debt collection company. According to the settlement, the company’s business consists primarily of purchasing and then...more

Ballard Spahr LLP

CFPB announces settlement with consumer lenders charged with unlawful debt collection and credit reporting practices

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The CFPB announced that it has entered into a consent order with Security Group Inc. and its subsidiaries (Security Group) to settle an administrative enforcement action that charged the companies with having engaged in...more

Smith Debnam Narron Drake Saintsing & Myers,...

Consumer Financial Services Spring 2018 Update

District Court Takes Expansive View of Deceptive or Misleading Practices under FDCPA - The FDCPA prohibits a debt collector from using "any false, deceptive, or misleading representation" in connection with the collection...more

Ward and Smith, P.A.

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

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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

McGuireWoods LLP

CFPB Takes Aim at Overdraft Fees and Screening Inaccuracies

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On February 3, 2016, the Consumer Financial Protection Bureau (CFPB) took a series of steps aimed at improving access to checking accounts for the nearly 10 million American households that are “unbanked” or which have no...more

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