The CFPB announced this week that it has entered into a proposed settlement of a lawsuit it filed in 2019 in Utah federal district court against a group of defendants who constitute the largest credit repair organizations in...more
9/1/2023
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Repair Services ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FTC Act ,
Section 5 ,
Settlement ,
Statutory Violations ,
Telemarketing ,
Telemarketing Sales Rule
After reviewing the developments leading up to the settlement, we examine the aspects of Facebook’s advertising delivery system that were alleged to be discriminatory. We then discuss the terms of the settlement, including...more
The CFPB has filed an amicus brief in the Maryland Court of Appeals urging the court to affirm the decision of the Court of Special Appeals reversing the trial court’s approval of a settlement agreement in a class action...more
12/9/2019
/ Amicus Briefs ,
Appeals ,
Class Action ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Financial Services Industry ,
Insolvency ,
Negligent Misrepresentation ,
Oral Argument ,
Qualified Settlement Funds ,
Release of Liability ,
Reversal ,
Settlement ,
Settlement Agreements ,
Settlement Negotiations ,
Statutory Violations ,
Structured Settlements ,
UDAAP
The Federal Trade Commission (FTC) recently released its preliminary report on two studies it conducted to help understand the effectiveness of class action settlement notices and to “develop information to help improve...more
The U.S. Supreme Court has agreed to decide whether parties to a class action may agree to a settlement that confers cy pres awards upon various nonprofit institutions and organizations, but provides no monetary relief for...more
For the first time in more than a decade, the U.S. Department of Justice (DOJ) has exercised its authority under the Class Action Fairness Act (CAFA) to file an objection to a proposed settlement of a consumer class action....more
The decision of the New York Court of Appeals, in Desrosiers v. Perry Ellis Menswear, LLC., and in Vasquez v. Nat'l Sec. Corp., has created a potential obstacle to early class action settlements in cases filed in New York...more
1/5/2018
/ Appeals ,
Class Certification ,
Corporate Counsel ,
Employment Litigation ,
Hiring & Firing ,
Internships ,
Misclassification ,
Motion to Dismiss ,
Putative Class Actions ,
Settlement ,
State and Local Government ,
Unpaid Interns ,
Unpaid Wages ,
Wage and Hour
The FTC has announced that to study the effectiveness of various class action settlement notice programs, it has issued orders to eight claims administrators requiring them to provide information on their procedures for...more
The Federal Trade Commission (FTC) has announced that to study the effectiveness of various class action settlement notice programs, it has issued orders to eight claims administrators requiring them to provide information on...more
Recently, Professor Jeff Sovern sent an email to the editor of the Consumer Financial Services Law Report commenting on an article we published in the August 9, 2015 issue of the Report titled, “CFPB Makes Consumer...more
The Federal Trade Commission recently announced a proposed settlement with a retail tracking company to resolve charges that the company’s privacy policy misled consumers about their ability to opt out of the company’s...more
New York Attorney General Eric Schneiderman recently announced that his office reached a landmark settlement with the nation’s three leading credit reporting agencies (CRAs) that will require them to significantly reform,...more
The Federal Trade Commission recently announced that it has entered into proposed settlements with two auto title lenders that were charged with deceptive advertising in violation of Section 5 of the FTC Act and the Truth in...more
The Federal Trade Commission recently announced a settlement with two online payday lenders to resolve charges that they violated the FTC Act, the Truth in Lending Act (TILA), and the Electronic Fund Transfer Act (EFTA). The...more
The latest chapter in the CFPB’s “comprehensive effort to address consumer harm and to root out unlawful practices across the debt settlement industry” is a settlement announced yesterday with Global Client Solutions, “a...more
For the second time in two years, Benjamin Lawsky, the Superintendent of the New York State Department of Financial Services (DFS), has settled another matter with Standard Chartered Bank for alleged “anti-money laundering...more
The Federal Trade Commission recently announced that it has entered into a settlement with one of the nation’s largest credit repair companies and its owners for alleged violations of the Credit Repair Organizations Act...more
On January 24, 2014, New York Attorney General Eric Schneiderman announced that a settlement had been reached with Western Sky Financial, LLC, Cash Call, Inc., WS Funding, LLC, and their principals for alleged violations of...more
A settlement with the operator of five Buffalo-area debt collection companies announced on November 21, 2013, by New York Attorney General Eric T. Schneiderman marks the latest chapter in the Attorney General's targeting of...more
Last night, the Mount Holly town council met to discuss the tentative settlement in Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc. We understand that due to issues concerning the language of the...more
It is looking like our prediction that Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc. would settle before the U.S. Supreme Court heard oral argument was accurate. Late yesterday, the Wall Street Journal...more
The Federal Trade Commission’s recent announcement that it entered into a record settlement with “the world’s largest debt collection operation” demonstrates that it intends to continue its vigorous enforcement of the Fair...more
As we reported, there are signs that a settlement may be reached in Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc. before the U.S. Supreme Court has a chance to hear the case....more
Since the petition for certiorari in Township of Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc. was filed last year, we have raised the possibility that, even if the Supreme Court granted certiorari, the case might...more
Last week, the Securities and Exchange Commission announced a policy shift concerning settled enforcement actions. The SEC has indicated that it will more frequently require an admission of wrongdoing from defendants as a...more