On April 24, 2025, the Federal Trade Commission (FTC) finalized a Decision and Order against an Artificial Intelligence (AI) Company (the "Company"), alleging that it made false and unsubstantiated claims about its AI Content...more
4/29/2025
/ Algorithms ,
Artificial Intelligence ,
Consent ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
FTC Act ,
Machine Learning ,
Section 5 ,
Settlement ,
Technology Sector ,
Unfair or Deceptive Trade Practices
On January 16, 2025, the CFPB announced that it issued a stipulation and consent order against the Company, to resolve allegations that the Company violated the CFPA, the EFTA, and Regulation E....more
On October 15, 2024, the CFPB and DOJ filed a complaint and proposed consent order against the Company, alleging violations of the Fair Housing Act (FHA), Equal Credit Opportunity Act (ECOA) and its implementing Regulation B,...more
In this Webinar Hudson Cook partner, Mark Rooney, will examine the Supreme Court’s recently completed term and discuss how its major decisions will affect the consumer financial services market. The discussion will focus in...more
On May 17, 2024, the CFPB filed a lawsuit in the U.S. District Court for the Central District of California against a financial technology company for violations of the CFPA and FCRA....more
By a 7-2 vote today, the U.S. Supreme Court rebuffed a challenge to the constitutionality of the Consumer Financial Protection Bureau's funding structure, lifting a cloud that threatened the agency's enforcement and...more
On January 10, 2024, the CFPB and Attorneys General from seven states filed a complaint against the Company and the individuals in charge for allegedly operating a debt-relief scheme that has been harming consumers since...more
On December 7, 2023, the CFPB issued an order against a regional bank in Richmond, Virginia. The consent order alleges that the bank charged consumers overdraft fees without getting the proper consent and misled its customers...more
12/8/2023
/ Banks ,
Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Electronic Fund Transfer Act ,
Enforcement Actions ,
Fees ,
Overdraft Fees ,
Prior Express Consent ,
Regulation E
On November 8, 2023, the Consumer Financial Protection Bureau announced that one of the nation's largest banks (the "Bank") agreed to settle charges that the Bank engaged in a pattern or practice of discriminating against...more
The complaint, filed in the U.S. District Court for the Southern District of Florida, alleges that a non-bank residential mortgage loan originator violated the Home Mortgage Disclosure Act ("HMDA") by submitting inaccurate...more
In May 2019, the CFPB initially sued six associated companies for allegedly violating the Consumer Financial Protection Act's prohibition against deceptive practices and the Telemarketing Sales Rule ("TSR")....more
8/30/2023
/ Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Financial Services Industry ,
Redress Payments ,
Stipulated Judgment ,
Telemarketing ,
Telemarketing Sales Rule
On June 8, 2023, the CFPB filed an administrative consent order against a medical debt collection company headquartered in Indianapolis, Indiana. In the order, the CFPB detailed several alleged violations of the Fair Credit...more
In a decision highly anticipated by the auto finance industry, a federal appeals court recently held that auto loans remain exempt from the Military Lending Act even when they finance related costs or services beyond the...more
6/7/2023
/ Ancillary Agreements ,
Automotive Loans ,
Consumer Financial Products ,
Consumer Lenders ,
Department of Defense (DOD) ,
Dual Purpose ,
Exemptions ,
Legal History ,
Military Lending Act ,
Military Service Members ,
Predatory Lending
Two coalitions of state attorneys general are urging the Supreme Court to review the constitutionality of the CFPB's funding structure—albeit for vastly different reasons. The two amicus briefs were filed December 14 in...more
HIGHLIGHTS: The servicer must pay a $5.25 million civil penalty to the CFPB. The servicer neither admitted nor denied the allegations but must forfeit unlawfully charged fees to consumers and develop a remediation plan for...more
HIGHLIGHTS: CFPB announced an administrative resolution of Consumer Financial Protection Act claims against a regional bank concerning unfair and abusive acts and practices for allegedly charging consumers "surprise...more
HIGHLIGHTS: CFPB and DOJ filed a complaint and proposed consent order in connection with their allegations that a mortgage company redlined majority-minority neighborhoods through marketing, sales, and hiring actions....more
HIGHLIGHTS: CFPB and the New York Attorney General ("NY AG") announced a proposed settlement of a lawsuit—originally filed in September 2020—against six interrelated companies and five individual defendants. The various...more
A prolific plaintiffs' law firm is now facing a class action for alleged violations of the Telephone Consumer Protection Act (TCPA). ...more
In a victory for fintechs and the banks that partner with them, the U.S. District Court for the Northern District of California recently turned back two challenges by a consortium of state attorneys general to the "valid when...more
The TCPA has long been a breeding ground for innovative and aggressive plaintiffs and the attorneys who represent them.
A recent federal district court decision highlights an important limitation on claims under the...more
[co-author: Michael Daly]
The Supreme Court’s decision was a victory for Facebook and any other business that routinely attempts to communicate with its consumers using stored lists of consumer numbers.
The Supreme...more
Whether you represent FDCPA plaintiffs or defendants, recent decisions provide new insight on how standing issues may affect your case.
The doctrine of standing—determining who is a proper plaintiff to bring a particular...more
The Supreme Court will consider several cases affecting the consumer financial services industry in its upcoming term, which starts October 5. The cases involve substantive issues of liability to consumers, questions relating...more
10/9/2020
/ AMG Capital Management LLC v FTC ,
Arbitration ,
Arbitrators ,
ATDS ,
Collins v Mnuchin ,
Constitutional Challenges ,
Consumer Financial Products ,
Facebook Inc v Duguid ,
False Advertising ,
Federal Arbitration Act ,
Federal Trade Commission (FTC) ,
FHFA ,
Henry Schein Inc v Archer and White Sales Inc ,
Liability ,
Liu v Securities and Exchange Commission ,
Removal For-Cause ,
Restitution ,
SCOTUS ,
Seila Law LLC v Consumer Financial Protection Bureau ,
TCPA
In June, the Supreme Court struck down the leadership structure of the CFPB as unconstitutional. (The case is Seila Law LLC v. CFPB, No. 19-7 (June 29, 2020), and the decision is here.) The case resolves a long-simmering...more
7/30/2020
/ Civil Investigation Demand ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Debt-Relief Industry ,
Director Kraninger ,
Dodd-Frank ,
Ratification ,
Removal At-Will ,
Removal For-Cause ,
Reversal ,
Rulemaking Process ,
SCOTUS ,
Seila Law LLC v Consumer Financial Protection Bureau ,
Separation of Powers ,
Severability Doctrine ,
Single Director