On May 12, the CFPB formally withdrew nearly 70 guidance materials—including policy statements, advisory opinions, circulars, and interpretive rules—through a Federal Register notice issued by Acting Director Russell...more
5/16/2025
/ Advisory Opinions ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Earned Wage Access ,
Federal Register ,
Financial Services Industry ,
Regulatory Authority ,
Regulatory Reform ,
Regulatory Requirements ,
UDAAP ,
Unfair or Deceptive Trade Practices
On April 30, 2025, the FTC filed an amended complaint and final order in the U.S. District Court for the Northern District of Georgia against a debt collection company in connection with allegations that the company engaged...more
5/9/2025
/ Consent Order ,
Consumer Protection Laws ,
Cryptocurrency ,
Debt Collection ,
Enforcement Actions ,
FDCPA ,
Federal Trade Commission (FTC) ,
GLBA Privacy ,
Penalties ,
Settlement ,
UDAAP ,
Unfair or Deceptive Trade Practices
On March 27, the FTC announced that a fintech company offering cash advances through a mobile app has agreed to pay $17 million to resolve allegations that it violated the FTC Act and the Restore Online Shoppers’ Confidence...more
3/31/2025
/ Consent ,
Consumer Protection Laws ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
FinTech ,
Mobile Apps ,
ROSCA ,
Settlement ,
Subscription Services ,
UDAAP ,
Unfair or Deceptive Trade Practices
On January 17, the Pennsylvania Attorney General filed a civil enforcement action in the U.S. District Court for the Eastern District of Pennsylvania against a group of mortgage brokers and their manager, alleging that they...more
On March 1, and despite recent policy shifts under the new administration, the CFPB sent a letter to the judge overseeing its lawsuit against a fintech lender in the United States District Court for the Southern District of...more
In an order issued in January and made public on February 24, a judge in the United States District Court for the Northern District of California granted class certification to consumers alleging a fintech lender’s loan...more
3/3/2025
/ California ,
Class Action ,
Consumer Financial Products ,
Consumer Protection Laws ,
Fees ,
Financial Services Industry ,
FinTech ,
Lenders ,
State and Local Government ,
State Attorneys General ,
Unfair or Deceptive Trade Practices
On February 23, the CFPB filed a joint stipulation in the United District Court for the Central District of California to dismiss its lawsuit against an online lending platform. The lawsuit, originally filed in May 2024,...more
On January 22, New York Attorney General Letitia James announced a $1 billion settlement with a now defunct cash advance firm and its officers. The settlement resolves allegations that the firm and its officers repeatedly...more
On January 23, 2025 the New York Department of Financial Services (NYDFS) announced proposed regulations to curb overdraft fees and insufficient funds fees charged by banks in New York. The proposed rules aim to protect...more
2/3/2025
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Fees ,
Financial Institutions ,
New York ,
NYDFS ,
Overdraft Fees ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Requirements ,
Rulemaking Process ,
Unfair or Deceptive Trade Practices
On January 24, 2025, the Fifth Circuit Court of Appeals struck down an FTC rule aimed at curbing deceptive advertising and sales practices in the auto industry. The rule, which sought to prohibit certain “junk fees” and...more
2/3/2025
/ Administrative Procedure Act ,
Advertising ,
Automotive Industry ,
Compliance ,
Consumer Protection Laws ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
Fees ,
Final Rules ,
Rulemaking Process ,
Scams ,
Unfair or Deceptive Trade Practices
On January 13, 2025, the CFPB announced a proposed rule aimed at prohibiting companies from including in consumer agreements terms that operate to waive consumers’ legal rights, allow companies to unilaterally change key...more
On January 17, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report, consumer advisory, and filed an amicus brief addressing the risks associated with home equity contracts (HECs)—financial products often...more
1/20/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Protection Laws ,
Disclosure Requirements ,
Enforcement Actions ,
Home Equity ,
Mortgages ,
Regulation Z ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
During the week of January 6, the CFPB released a “second” Winter 2024 Supervisory Highlights, focused on the agency’s most recent findings in deposits, small dollar lending, buy now, pay later (BNPL), paycheck advance...more
On November 14, the CFPB entered into a consent order with a telecommunications company and its subsidiaries (collectively, the “company”) for allegedly withdrawing millions of dollars from over half a million consumer...more
On September 13, the CFPB filed a complaint against a nonbank corporation and its CEO, alleging that the company engaged in deceptive and abusive acts through misleading advertising and unjustified, exorbitant fees related to...more
9/16/2024
/ CEOs ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Enforcement ,
Federal Trade Commission (FTC) ,
Misleading Statements ,
Nonbank Firms ,
Subscription Services ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
On July 29, the FTC filed a stipulated order settling claims against an online career-training company on the grounds that it engaged in deceptive advertising. In addition to injunctive relief barring the company from...more
On June 4, the CFPB issued a circular targeting the deceptive use of fine print in consumer financial contracts to include unlawful or unenforceable terms. In a press release issued the same day, the CFPB stressed that these...more
On May 1, the FTC announced a settlement in federal court in the Northern District of Georgia against a payment processing company, along with its former CEO and senior vice president, for the company’s role in handling...more
On April 25, the FTC took action against a Washington-based bill payment company and its two co-founders alleging that the company used misleading search ads to impersonate consumers’ billers and deceptive design practices to...more