Rick Fischer

Morrison & Foerster LLP

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FDIC Enters Consent Order with Bank Regarding Prepaid Card Disclosures

On March 7, 2018, the Federal Deposit Insurance Corporation (FDIC) entered into a consent order with The Bancorp Bank for allegedly making inaccurate disclosures concerning the amount of transaction fees assessed on certain...more

3/9/2018 / Consent Order , FDIC , Financial Institutions , Financial Services Industry , Prepaid Payment Products

CFPB Files Proposed Consent Orders Related to Wireless Billing Practices

On May 12, 2015, the Consumer Financial Protection Bureau (the “CFPB”) filed proposed consent orders in federal courts that would settle allegations that two wireless carriers unfairly permitted their customers to be charged...more

5/15/2015 / Billing , Consent Order , Consumer Financial Protection Bureau (CFPB) , Third-Party , UDAAP , Wireless Industry , Wireless Internet Service Providers

CFPB Brings First Enforcement Action Involving Deferred Interest Products, Imposes Novel and Burdensome Application Requirements...

Yesterday, the Consumer Financial Protection Bureau (“CFPB”) announced a consent order with GE Capital Retail Bank and its subsidiary CareCredit (collectively “CareCredit”) related to what the CFPB alleges were unfair and...more

12/12/2013 / Applications , CARD Act , Consent Order , Consumer Financial Protection Bureau (CFPB) , Credit Cards , Deferred Interest Products , Disclosure Requirements , Enforcement Actions , GE Capital Retail Bank , Remediation

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