Latest Publications

Share:

Philadelphia Enacts Ordinance to Protect Residents From Unfair or Deceptive Trade Practices

Philadelphia joins other major US cities in passing a local law to address consumer fraud and abuse. With its newfound enforcement authority, the Philadelphia Law Department can investigate and initiate legal action against...more

CFPB Finalizes New Rule to Monitor Nonbank ‘Repeat Offenders’

The Consumer Financial Protection Bureau (CFPB) recently finalized its proposed rule to create a so-called “Repeat Offender” registry for certain covered financial services providers and individuals violating federal, state,...more

CFPB Expands ‘Junk Fee’ Crackdown to Mortgage Closing Costs

Following a recent call for consumer input, the Consumer Financial Protection Bureau (CFPB) announced it will launch a formal public inquiry into so-called “junk fees” that the Bureau claims may be increasing mortgage closing...more

US Airline Industry Regulatory Updates: Avoiding Thunderheads in New FAA Reauthorization

The US aviation industry has been in the headlines recently with the passage of a comprehensive bill to authorize funding of the Federal Aviation Administration (FAA) for five more years as well as Department of...more

US Supreme Court Upholds Consumer Financial Protection Bureau Funding Structure

The US Supreme Court ruled on May 16, 2024 that the funding structure of the Consumer Financial Protection Bureau (CFPB)—which is funded with money from the Federal Reserve rather than the US Congress—does not run afoul of...more

CFPB Identifies Significant Financial and Privacy Risks in Video Gaming Marketplaces

The Consumer Financial Protection Bureau (CFPB) recently released a comprehensive report detailing growing financial transactions within video gaming and virtual worlds, which increasingly mimic traditional monetary systems....more

State Attorneys General Fly into Previously Federal Airspace

The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer...more

Mitigating the Risk from ‘Junk Fees’

Increases in enforcement and private litigation relating to what federal and state authorities have termed “junk fees” pose a growing challenge to businesses across geographies and sectors, as evidenced by the recent uptick...more

Recent Crackdown on Junk Fees: Federal, State, and Private Actions

What Are Junk Fees? “Junk fees” refer to the broad swath of fees and charges, often mandatory, that are not included in the initial offered price of a good or service. Common examples include mandatory fees charged by hotels,...more

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more

US State Attorneys General Seek Use of Federal Cudgel Against Banks

The attorneys general of 20 states and territories, led by New York Attorney General Letitia James, recently sent letters to the heads of the US Consumer Financial Protection Bureau (CFPB) and US Office of the Comptroller of...more

Federal, State Agencies Want to Dump Junk Fees: How to Manage Business Risk

Businesses should be aware that the Biden administration continues its attempt to curb junk fees, with additional actions proposed by the Federal Trade Commission and Consumer Financial Protection Bureau....more

Biden Issues Sweeping Executive Order Presenting Opportunity and Risk for AI

President Joseph Biden issued an executive order on October 30 designed to protect against the risks of artificial intelligence (AI) while encouraging the global growth and expansion of AI development and use....more

California Governor Signs Bill Targeting ‘Junk Fees’

With his signature, California Governor Gavin Newsom signed into law SB 478, expanding California’s already sweeping consumer protection laws to include a broad array of fees and charges referred to by the bill authors as...more

Abusive Acts and Practices: Putting the CFPB’s Policy Statement into Practice

The Consumer Financial Protection Bureau (CFPB) released a second iteration of its Policy Statement on Abusive Acts and Practices (Policy Statement) on April 3, 2023, giving insight into its current thinking on the...more

CFPB Releases Final Small Business Lending Rule

The Consumer Financial Protection Bureau (CFPB, the Bureau) promulgated on March 30 its final rule implementing Section 1071 of the Dodd-Frank Act. The rule requires that covered financial institutions collect and report to...more

FTC Makes It Easier to Say No with Proposed Rule to Limit Negative Option Marketing

The US Federal Trade Commission (FTC or Commission) proposes expanding the Negative Option Rule to all subscription agreements. The FTC, in a 3-1 vote with Commissioner Christine S. Wilson (R) dissenting, published a notice...more

State of the Fintech M&A Landscape: Market Trends and Regulatory and Enforcement Considerations

Three months into 2023 and the fintech landscape looks wildly different than this time one year ago. Global economic uncertainty clouds the fintech industry, with it facing challenges from rising interest rates, significant...more

Biden Administration Proposes Whole-of-Government Approach to Pandemic Anti-Fraud Enforcement

In response to assertions that the Biden administration has not done enough to pursue pandemic-era fraud, on March 2, 2023, the White House proposed a framework for a “whole-of-government” anti-fraud effort with the US...more

CFPB Proposal Targets Limiting Credit Card Late Fees

The Consumer Financial Protection Bureau (CFPB) recently issued a notice of proposed rulemaking to amend Regulation Z (the Proposal), which implements the Truth in Lending Act (TILA), to better ensure that late fees charged...more

CFPB Proposes Additional Reporting Requirements on Non-Bank Financial Institutions

For the second time in a month, the Consumer Financial Protection Bureau (CFPB) has proposed a new rule that would require businesses to report already public information and thereby increase the burdens on, and risks to, the...more

CFPB Proposes Registry to Detect Repeat Offenders

The Consumer Financial Protection Bureau (CFPB or Bureau) has proposed a registry in which certain nonbank financial institutions must deposit copies of certain federal, state, and local orders. The proposed rule would also...more

Congressional Hearings on FTX Collapse May Lead to Crypto Regulations

The Senate Agriculture, Nutrition & Forestry Committee held a hearing, “Why Congress Needs to Act: Lessons Learned From the FTX Collapse,” on December 1, 2022, receiving testimony from Commodity Future Trading Commission...more

Beware Congressional Oversight in FTX/Alameda Investigations

The House of Representatives and the Senate took the first steps in response to the collapse of FTX this week. The Senate Agriculture Committee has announced a hearing at which the chair of the Commodity Futures Trading...more

State Attorneys General Post-Election Report 2022

STATE ATTORNEYS GENERAL POST-ELECTION REPORT 2022 State attorneys general continue to dominate the national legal and political landscape, with a partisan fervor that sometimes obscures the ongoing investigations and...more

76 Results
 / 
View per page
Page: of 4

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide