The Consumer Finance Protection Bureau ("CFPB") announced that it will examine nonbank financial companies that pose risks to consumers, using statutory authority that until now had gone unused. Additional examinations would...more
A lawsuit filed by the CFPB last week against a national credit reporting agency provides some insight into the types of website features and designs that regulators like the Consumer Financial Protection Bureau and Federal...more
On March 23, Utah Governor Spencer Cox signed into law sweeping amendments to the state’s Business Opportunity Disclosure Act (BODA). The amendments expand the scope of the statute to cover a broad spectrum of business...more
4/7/2022
/ Amended Legislation ,
Buyers ,
Disclosure Requirements ,
Franchise Agreements ,
Franchises ,
New Legislation ,
Private Right of Action ,
Registration Requirement ,
Sale of Assets ,
Sellers ,
Small Business ,
State and Local Government
In a bulletin published last week, the Consumer Financial Protection Bureau (CFPB) warned banks and other financial companies against impeding honest reviews of consumer financial products and services. Although it does not...more
The Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin regarding potentially illegal practices related to consumer reviews. The bulletin seeks to promote reviews about financial products and services...more
The CFPB intends to use its authority under the Consumer Financial Protection Act to identify, prohibit, and prosecute discrimination as a UDAAP - an "unfair" act or practice in any financial services category, whether it be...more
On Friday, March 11, the Federal Trade Commission (FTC) filed an administrative complaint against HomeAdvisor, Inc., charging it with using deceptive and misleading tactics to sell leads for home improvement projects to small...more
Does Ownership and Management Structure Matter?
Fiduciary Relationships - Special confidence placed in one who in equity and good conscience is bound to act in good faith and in due regard to the one reposing confidence....more
2/20/2022
/ Consumer Credit Protection ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Officers ,
Corporate Veil ,
Directors ,
Federal Trade Commission (FTC) ,
Fiduciary Duty ,
FTC Act ,
Personal Liability ,
Piercing the Corporate Veil ,
Risk Management ,
Section 5
The latest edition of the FTC’s recent practice of holding open meetings brings a potential rule regarding earnings claims to the forefront. During the FTC’s open meeting, the Commission unanimously approved issuing an...more
It might be hard for some to imagine, but the Federal Trade Commission (FTC) is feeling groovy. This month, the agency released two guidance documents that track best practices to prevent consumers from being misled when...more
On January 10, 2022, the Consumer Financial Protection Bureau (CFPB) filed a complaint in federal district court against three affiliated debt-buying businesses and the individuals who founded and operated them for "knowingly...more