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Consumer Financial Protection Bureau (CFPB) Financial Fraud

Ballard Spahr LLP

Zelle offers details on its solution to protect scammed customers

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Last year, we blogged that Zelle was considering possible solutions for P2P customers on the Zelle Network who were the victims of scams. In an August 30, 2023 press release, Zelle announced that it was initiating new safety...more

Sheppard Mullin Richter & Hampton LLP

CFPB Acts Against Fintech Operator of Mobile App for Illegal International Money Transfers

On October 17, the CFPB took action against a nonbank fintech company for allegedly deceiving consumers about the speed and cost of remittance transfers through its mobile app. The Bureau also alleges that the company...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 7, August 2023

Giant Banks Paid More for Deposits in Q2. That's Bad News for Small Lenders. “But many smaller institutions, some of whom turned to more expensive borrowings to replace deposits lost in the spring, don't have as many...more

Ballard Spahr LLP

Democratic Senators urge CFPB to look at risks created by voice cloning

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A group of four Democratic members of the Senate Banking Committee, including Chairman Sherrod Brown, recently sent a letter to CFPB Director Chopra to express their concerns regarding the emergence of voice cloning...more

Troutman Pepper

CFPB’s Office of Servicemember Affairs Issues Annual Report Highlighting Complaints Related to Payment App Fraud

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On June 20, the Consumer Financial Protection Bureau’s (CFPB or Bureau) Office of Servicemember Affairs published its Annual Report analyzing complaints submitted by servicemembers, veterans, and their families in 2022. The...more

Shipkevich PLLC

CFPB Releases Complaint Bulletin Analyzing Crypto-Asset Consumer Complaints; Tips for Consumers to Protect Themselves from...

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On November 10, 2022 the Consumer Financial Protection Bureau (CFPB) released a complaint bulletin (“bulletin”) that provides an analysis of consumer complaints the CFPB has received from October 2018 to September 2022...more

Cozen O'Connor

Multimillion Charity Scam | Data Privacy Risks Of Fertility App | Lexis Settles Whistleblower Complaint

Cozen O'Connor on

Charities- Alleged Scammers Collected Tens of Millions of Dollars for Fake Charities- Minnesota AG Keith Ellison, New Jersey AG Gurbir Grewal, New York AG Letitia James, Virginia AG Mark Herring and the Federal Trade...more

Goodwin

Financial Services Weekly News: FDIC Issues Deposit Insurance Application Guidance For Non-Banks

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In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more

Ballard Spahr LLP

FDIC and CFPB to co-host webinar on elder financial abuse

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On July 25, 2019, from 2:00 p.m. to 3:00 p.m. ET, the FDIC and CFPB will co-host a webinar to outline strategies to address and prevent elder financial abuse. The webinar will focus on the benefits of collaboration between...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The White House is reportedly considering easing some tariffs on Chinese markets “as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies.” The...more

Holland & Knight LLP

Expect Increased Enforcement Activities with DOJ’s New Fraud Task Force

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The Department of Justice (DOJ) recently announced the creation of a Task Force on Market Integrity and Consumer Fraud. Relevant to the contracting and healthcare community, the task force is designed to strengthen the...more

Ballard Spahr LLP

CFPB to participate in new task force on market integrity and consumer fraud

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The CFPB will be one of the members of the new Task Force on Market Integrity and Consumer Fraud (Task Force) to be established by the U.S. Department of Justice (DOJ).  ...more

Ballard Spahr LLP

Mulvaney to reorganize CFPB Office of Students and Young Consumers and take other actions

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According to media reports, CFPB Acting Director Mick Mulvaney has sent an email to Bureau staff indicating that he plans to fold the Office of Students and Young Consumers into the Office of Financial Education.  Both...more

Ballard Spahr LLP

CFPB publishes a financial toolkit for victims of Hurricane Harvey

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On September 5, the Consumer Financial Protection Bureau (CFPB) published a blog post regarding what to do in the event of a natural disaster like Hurricane Harvey. The CFPB recommends that affected consumers consolidate...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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As the scandal grows, WF’s newish CEO, Timothy Sloan, faces the unfortunate reality of being a company man (30-years at Wells) when the foundations of that company are cracking....more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

OCC Solicits Public Comments on Revising the Volcker Rule - On August 2, 2017, the Office of the Comptroller of the Currency ("OCC") issued a public notice that it is seeking public input on revising the final regulation...more

Ballard Spahr LLP

FTC Releases Agenda And Panelists For Upcoming Military Consumer Financial Workshop

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On July 19, the Federal Trade Commission will hold a workshop in San Antonio titled the “2017 Military Consumer Financial Workshop: Protecting Those Who Protect Our Nation.” The FTC has uploaded an agenda and list of...more

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