News & Analysis as of

Unfair or Deceptive Trade Practices Dodd-Frank Wall Street Reform and Consumer Protection Act Civil Monetary Penalty

Troutman Pepper

FTC Fines Bankrupt Crypto Services Provider Celsius $4.7B for Misrepresentations; Regulatory Agency Remains in Search for Civil...

Troutman Pepper on

Deceptive advertisements, market manipulation, misappropriation of customer funds, and “Ask Me Anything (AMA)” sessions served as the catalysts of a civil enforcement action the Federal Trade Commission (FTC) recently filed...more

BCLP

CFPB Provides Guidance on UDAAP Abusive Standard

BCLP on

On January 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced a new policy regarding the prohibition on abusive acts or practices. The CFPB has clarified how it will define, supervise and enforce “abusive”...more

Buchalter

CFPB Further Defines Abusiveness Standard; Expresses Intent to Limit Duplicative Enforcement

Buchalter on

In a Policy Statement effective on January 24, 2020, the CFPB addresses perceived uncertainty as to the scope and meaning of the abusiveness standard, and that the CFPB had in various enforcement actions asserted claims for...more

Eversheds Sutherland (US) LLP

Legal Alert: DOJ and CFTC team up on spoofing enforcement

On September 16, 2019, the US Department of Justice (DOJ) indicted three precious metals traders for allegedly violating six criminal statutes, including the Racketeer Influenced and Corrupt Organizations Act...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Consent Orders Serve as a Reminder to Mortgage Industry on Advertising Practices

A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any...more

Bradley Arant Boult Cummings LLP

Is Your Company Compliant? CFPB Requires Written Enterprise-Wide UDAAP Risk-Management Program

The Consumer Financial Protection Bureau (CFPB) ordered First National Bank of Omaha (FNBO) to pay a $4.5 million civil money penalty and $27.75 million in customer restitution for violations of engaging in deceptive...more

Sheppard Mullin Richter & Hampton LLP

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

Bracewell LLP

Municipal Advisor, School Consultant, and Associated Individuals Enter Settlement Offers with SEC after First-of-Its-Kind...

Bracewell LLP on

On June 13, 2016, the Securities and Exchange Commission (SEC) accepted the settlement offers made by two firms and three executives charged with using deceptive business practices in dealing with five school districts. As...more

Manatt, Phelps & Phillips, LLP

CFPB Brings Another Auto Lender Action, This Time for $48M

Why it matters - Continuing its focus on the auto lending industry, the Consumer Financial Protection Bureau (CFPB) ordered Westlake Services LLC and subsidiary Wilshire Consumer Credit LLC to pay roughly $48 million for...more

BakerHostetler

Consumer Financial Protection Bureau Levies Repayment, Civil Fines for Deceptive Mortgage Practices

BakerHostetler on

On Tuesday, July 28, the Consumer Financial Protection Bureau ordered Paymap Inc., a Colorado-based payment processing company and wholly owned subsidiary of Western Union Company, to repay consumers $33.4 million in fees and...more

Ballard Spahr LLP

NY regulator settles lawsuit filed using Dodd-Frank authority

Ballard Spahr LLP on

A settlement has been announced in the lawsuit filed by Benjamin Lawsky, the Superintendent of the New York Department of Financial Services, using his Dodd-Frank Section 1042 authority. Section 1042 allows state attorneys...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide