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Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:
Orrick, Herrington & Sutcliffe LLP

Minnesota Attorney General shuts down debt settlement companies

On October 18, the Minnesota Attorney General (AG) secured an Assurance of Discontinuance (AOD) between the State of Minnesota and two debt settlement companies (the respondents) regarding allegations that the companies...more

Hogan Lovells

Democratic state attorneys general call for national ban on price gouging

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Last week (10/30), Democratic attorneys general from 15 states and the District of Columbia issued a letter to congressional leaders, calling for federal legislation banning price gouging during emergencies. Distinguishing...more

Orrick, Herrington & Sutcliffe LLP

New York City dept. announces enforcement delay of debt collection rules after litigation

Recently, the New York City Department of Consumer and Worker Protection (DCWP) announced a delay enforcing Title 6 of the Rules of the City of New York which impact debt collectors. Although the new rules will still take...more

Orrick, Herrington & Sutcliffe LLP

California appellate court rules that a name mix-up violates the FDCPA

On October 23, a California Court of Appeal reversed a lower court’s decision granting an anti-SLAPP motion in a case involving a debt collection agency and a consumer. The lower court had granted the debt collection agency’s...more

Wilson Sonsini Goodrich & Rosati

CFPB Releases Final Open Banking Rules: Key Takeaways for Fintech Companies

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) announced its long-awaited final rule on “Personal Financial Data Rights” (the Final Rule). The Final Rule implements Section 1033 of the Dodd-Frank Act,...more

Polsinelli

SEC Penalties Relating to Cybersecurity Disclosures

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On October 22, 2024, the Securities and Exchange Commission (“SEC”) charged four current or former publicly traded companies with disseminating materially misleading disclosures regarding cybersecurity risks and actual...more

Carlton Fields

Penn State Settlement Shows Growing Cybersecurity Risks for Schools That Contract With Government Agencies on Sensitive Matters

Carlton Fields on

Penn State recently agreed to pay $1.25 million to settle allegations of False Claims Act violations related to its cybersecurity controls after a whistleblower alleged that the university failed to adhere to cybersecurity...more

Wiley Rein LLP

Dissenting Commissioners Criticize SEC’s Latest Cybersecurity Disclosure Cases

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Continuing its controversial and aggressive approaches to cybersecurity, the U.S. Securities and Exchange Commission (SEC) recently charged four current and former public companies for purportedly “materially misleading...more

Morrison & Foerster LLP

The Future of Section 230: Protection Against Product Liability Claims?

Courts around the country are grappling with Section 230 of the Communications Decency Act. Section 230 generally shields online platforms from liability for content posted by third-party users, but courts are now deciding if...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Proposes New Approach To Regulate ‘Buy Now, Pay Later’ Market Amid Rising Consumer Debt Concerns

In the UK, 14 million people used “buy now, pay later” (BNPL) at least once in the six months leading up to January 2023. Frequent users were more than four times as likely as other consumers to have missed a payment on a...more

A&O Shearman

Southern District Of New York Grants Preliminary Injunction, Pausing Merger Of Luxury Fashion Companies

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On October 24, 2024, Judge Jennifer L. Rochon of the United States District Court for the Southern District of New York granted the Federal Trade Commission’s (“FTC”) motion for a preliminary injunction, thereby preliminarily...more

A&O Shearman

Draft UK Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 Published

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The draft Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024 have been published, together with an explanatory memorandum. The Regulations make transitional amendments to...more

A&O Shearman

UK Financial Conduct Authority Publishes Dear CEO letter for Financial Advisers and Investment Intermediaries

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The U.K. Financial Conduct Authority has published a Dear CEO Letter setting out its supervisory strategy for financial advisers and investment intermediaries. The FCA's priorities over the next two years are reducing and...more

Adams and Reese LLP

Florida Launches “Check My Contract” Program in Wake of Hurricane-Related Insurance Claims

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In a proactive move aimed at protecting property owners, the Florida Department of Financial Services (DFS) has launched what it refers to as its “Check My Contract” program. This initiative is geared towards residential and...more

Proskauer - New Media & Technology

CFPB Issues Final “Open Banking” Rule Governing Third Party Use of Consumer Banking Information

After a yearslong lead-up, the Consumer Financial Protection Bureau (CFPB) published its final “open banking” rule in October. The rule effectuates the section of the Consumer Financial Protection Act, which charged the CFPB...more

Proskauer - Labor Relations Update

New York City to License Hotels: What You Need to Know

On November 4, 2024, Mayor Eric Adams signed into law Int. No. 991-C (the “Act”), which establishes a new licensure requirement for hotels to operate in New York City, requiring new staffing, safety, cleanliness and direct...more

King & Spalding

Saudi Capital Market Authority Calls for Public Consultation on the Draft to Develop the Provisions for Offering Private and...

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As part of the Saudi Arabian Capital Market Authority’s (“CMA”) ongoing commitment to enhance investor protection and market transparency, on 21 October 2024, the CMA issued draft amendments to the Saudi Investment Funds...more

Sheppard Mullin Richter & Hampton LLP

Campaign Promises to Address Rising Prices at the Grocery Store Signal Stronger Price Gouging Investigations, Enforcement Actions,...

Republican and Democrat candidates alike have promised along the campaign trail that they will work to address the costs of everyday essentials for American consumers, particularly for food. One of the centerpieces of the...more

Hudson Cook, LLP

Featuring BizFinLaw - November 2024

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In Texas Bankers Association v. Consumer Financial Protection Bureau, the U.S. District Court for the Southern District of Texas denied a summary judgment motion by the Texas Bankers Association and other plaintiffs to set...more

Sheppard Mullin Richter & Hampton LLP

CFPB Penalizes Major Credit Union for Mishandled Online Banking Program Rollout

On October 31, the CFPB entered into a consent order with a Florida-chartered credit union for harming consumers in connection with the botched launch of a new online banking system, in violation of the Consumer Financial...more

Sheppard Mullin Richter & Hampton LLP

D.C. Attorney General Settles with Title Insurance Company for Alleged Kickback Scheme

On October 24, the District of Columbia Office of the Attorney General (the “DCAG”) announced that it entered into a $500,000 settlement with a title insurance company following an investigation, alleging that the company...more

Foley Hoag LLP - Environmental Law

In the Void Left by Congress's Failure to Address Plastic Pollution, More Litigation Such as This Is Inevitable

Last November, I posted about litigation filed by New York State Attorney General Letitia James, asserting public nuisance and other claims against PepsiCo concerning contamination of the Buffalo River. At the time, I...more

Sheppard Mullin Richter & Hampton LLP

California DFPI Rolls Out Registration Requirements for Debt Settlement, EWA, and Student Loan Relief Providers

On October 22, the California DFPI announced the state’s approval of registration regulations enacted under the CCFPL, which will require providers of (1) debt settlement services, (2) education financing, (3) income-based...more

Sheppard Mullin Richter & Hampton LLP

Fintech Industry Trade Associations Respond to Federal Regulators’ Joint RFI on Bank-Fintech Partnerships

On October 30, two leading fintech industry trade associations submitted comments (see comment letters here and here) in response to a joint Request for Information (RFI) issued by the Office of the Comptroller of the...more

Goodwin

Ninth Circuit Strikes Mass Arbitration Agreement as Unenforceable under California Law

Goodwin on

On October 28, 2024, the Ninth Circuit struck a mass arbitration agreement as unconscionable and unenforceable under California law in Heckman v. Live Nation Ent., Inc., No. 23-55770.  The three-judge panel affirmed the...more

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