Siding with six consumers who filed suit asserting violations of state usury laws against online lenders, the U.S. Court of Appeals for the Eleventh Circuit has affirmed a decision by the U.S. District Court for the Southern...more
RushCard will pay a total of $20.5 million to settle a lawsuit over an incident that resulted in thousands of consumers being shut out of their prepaid card accounts last October....more
Why it matters -
The Consumer Financial Protection Bureau (CFPB) has picked its next battle: a proposal to limit the terms of mandatory pre-dispute arbitration agreements in contracts involving consumer financial...more
State and Federal Lawmakers, Chair of Fed Weigh in on Regulation of Virtual Currency -
The New York Department of Financial Services issued an order on Wednesday that it will immediately start accepting applications...more
3/14/2014
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Chadbourne & Parke LLP v Troice ,
Class Action ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Ponzi Scheme ,
SCOTUS ,
SLUSA ,
Virtual Currency
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
2/11/2014
/ American Express ,
Antitrust Litigation ,
Banks ,
Class Action ,
Deposit Advances ,
FDIC ,
Fees ,
MasterCard ,
Prepaid Payment Products ,
Toys R Us ,
Visa Inc ,
Visas
Swipe Fee Settlement Yields More Litigation -
Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more
1/31/2014
/ Antitrust Litigation ,
Banks ,
Business Judgment Rule ,
Class Action ,
Deposit Advances ,
Directors ,
FDIC ,
Fees ,
MasterCard ,
Merchant Fees ,
Payday Loans ,
Settlement ,
Visa Inc
SPECIAL FOCUS: CFPB -
The Dodd-Frank Act provides that the Consumer Financial Protection Bureau ("CFPB") may take action against certain persons who engage in unfair, deceptive or abusive acts or practices....more
6/10/2013
/ Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
False Advertising ,
Kohls ,
Papa John's International ,
Personally Identifiable Information ,
Pinterest ,
Right of Publicity ,
Social Media ,
TCPA ,
Twitter ,
Unfair or Deceptive Trade Practices ,
Wine & Alcohol