News & Analysis as of

Unfair or Deceptive Trade Practices Financing

Morgan Lewis

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

Morgan Lewis on

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more

Ballard Spahr LLP

FTC issues final CARS Rule setting new requirements on vehicle sales

Ballard Spahr LLP on

On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule, otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor...more

Cadwalader, Wickersham & Taft LLP

Multistate and CFPB Enforcement Actions Against Lease Finance Company Tempoe

The Consumer Financial Protection Bureau (“CFPB”) announced on Monday that it and 41 states and the District of Columbia had resolved a multistate investigation in the leasing activities engaged in by specialty consumer...more

Troutman Pepper

NJ Attorney General Reaches Settlement With Merchant Cash Advance Company Over Alleged Unfair and Deceptive Practices

Troutman Pepper on

On December 27, the New Jersey Division of Consumer Affairs (the Division) entered a consent order with Yellowstone Capital LLC (Yellowstone) and several related companies to resolve allegations that, in violation of the New...more

Cozen O'Connor

Florida AG Settles with HVAC Installer Over Alleged Deceptive Sales

Cozen O'Connor on

Florida AG Ashley Moody reached a settlement with HVAC company Bruno, LLC and its owner Louis Bruno (collectively, “Bruno”) to resolve allegations that Bruno engaged in deceptive sales practices in violation of Florida’s...more

McGlinchey Stafford

CFPB Eyes Unfair, Deceptive Acts: Here Are Some Tips To Avoid Scrutiny

McGlinchey Stafford on

With a new administration comes new priorities for federal agencies, and the Consumer Financial Protection Bureau (CFPB) is no different. During the Trump administration, the Bureau focused on “educating” consumers. Under...more

Cozen O'Connor

FTC Distributes More than $3.1 Million to Consumers Allegedly Targeted by Bogus Promises of Income Opportunities

Cozen O'Connor on

The Federal Trade Commission (“FTC”) returned more than $1.1 million to consumers who were allegedly targeted by 8 Figure Dream Lifestyle LLC and related entities and individuals with a combination of illegal robocalls, live...more

Ballard Spahr LLP

FTC Files Lawsuit Against Merchant Cash Advance Providers For Alleged Unfair And Deceptive Practices

Ballard Spahr LLP on

The FTC’s recently-filed lawsuit against two merchant cash advance providers and their chief executive officer and president for alleged unfair and deceptive conduct in violation of the FTC Act serves both as an illustration...more

Troutman Pepper

FTC Investigation Highlights: Small Business Lending Risks

Troutman Pepper on

On May 23, the FTC launched an investigation into unfair or deceptive practices in the small business financing industry. Press reports of this investigation emphasized the investigation’s relevance for online lenders and...more

Troutman Pepper

FTC Investigates Small Business Financing Based On Expansive View Of UDAP Authority

Troutman Pepper on

On May 23, the FTC launched an investigation into potentially unfair or deceptive practices in the small business financing industry, including by merchant cash advance providers. Although the launch of the investigation was...more

Hudson Cook, LLP

FTC Forum on Small Business Financing

Hudson Cook, LLP on

On May 8, 2019, the Federal Trade Commission hosted a forum on small business financing to examine trends and consumer protection issues in this marketplace, including the recent proliferation of online loans and alternative...more

Carlton Fields

CFPB and New York Department of Financial Services Sue Pension Loan Companies for Deceptive Marketing

Carlton Fields on

On August 20, the Consumer Financial Protection Bureau (CFPB) and New York Department of Financial Services (NYDFS) jointly filed suit against two pension loan companies and three individual managers for deceptively marketing...more

Ballard Spahr LLP

CFPB enters into consent order with company charged with deceptive health care credit enrollment practices

Ballard Spahr LLP on

The CFPB has entered into a consent order with Springstone Financial, LLC to settle charges that the company was responsible for alleged deceptive and misleading acts and practices in connection with enrolling consumers in a...more

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