Will Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent Orders — The Crypto Exchange Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
The Federal Trade Commission (FTC) has been actively flexing its authority as a privacy regulator in recent months. The agency has been especially focused on identifying data practices it views to be “unfair”, thereby...more
On a July 19, the Federal Reserve Board announced it has issued a consent order against a Utah-based bank and its parent company for engaging in unfair and deceptive acts and practices in violation of Section 5(a)(1) of the...more
In a move that's sure to make nonbank financial institutions even more uncomfortable, the Consumer Financial Protection Bureau (CFPB) has decided to shine a brighter light on those that have been alleged to violate consumer...more
On January 18, the FTC issued a consent order prohibiting a digital platform and data aggregator from selling or licensing precise consumer location data on the grounds that it did not obtain consumer consent before...more
The FTC announced an action last week against location data broker X-Mode Social and its corporate successor Outlogic (collectively, “X-Mode”) based on several alleged violations of Section 5 of the FTC Act. According to FTC...more
For the first time in 40 years, the Federal Trade Commission (FTC) has taken action to enforce Section 8 of the Clayton Act, which prohibits so-called interlocking directorates. In the same action, the FTC mounted its first...more
On June 16, the Federal Trade Commission (FTC) announced an enforcement action against 1Health.io Inc. (“1Health,” also known as Vitagene, Inc.), a genetic testing company that analyzes consumer-provided DNA samples and uses...more
On February 16, 2023, the Federal Trade Commission (FTC) announced an enforcement action against The Bountiful Company (Bountiful) for a practice the FTC dubbed “review hijacking.” Bountiful, a vitamin and supplement company,...more
Recent Consent Order Issued by the DFPI Against Student Loan Relief Company - On February 28, 2023, the California Department of Financial Protection and Innovation (DFPI) announced that it has entered into a Consent Order...more
In September 2022, the Federal Trade Commission announced that it had taken action against credit services company Credit Karma for allegedly deploying dark patterns to misrepresent that consumers were “pre-approved” for...more
On December 19, the Federal Trade Commission (FTC) reached two separate record-breaking settlements with Epic Games, Inc. (“Epic”) over allegations, among others, that the Fortnite video game maker knowingly violated the...more
On Oct. 24, the Federal Trade Commission (FTC) issued a proposed decision and order against Drizly LLC and its CEO regarding allegations that the company’s security failures led to a data breach exposing the personal...more
Regulatory Announcements- FTC Commissioner Phillips Plans to Leave the Agency in the Fall, Per Media Reports. On August 8, several media outlets reported that FTC Commissioner Noah Phillips informed his staff through a memo...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
Last week the Federal Trade Commission announced a privacy and data security enforcement action against the online retail platform CafePress. The allegations in the FTC’s complaint read like a list of worst practices,...more
The FTC recently settled its enforcement action involving data privacy and security allegations against an online seller of customized merchandise. In addition to agreeing to pay $500,000, the online merchant consented to...more
The FTC reached a settlement with online fashion retailer Fashion Nova, LLC to resolve allegations that it blocked negative reviews from being posted on its website in violation of the FTC Act...more
Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Vermont Attorney General Sues Fossil Fuel...more
On June 7, 2021, the Federal Trade Commission (FTC) announced a settlement with MoviePass relating to allegations that MoviePass and its executives took steps to block subscribers from using the service as advertised, and...more
In a major development for companies that collect, use, and store biometric data, the US Federal Trade Commission (FTC) reached a proposed settlement of a complaint against a company that allegedly deceived consumers about...more
This survey summarizes several recent developments affecting bank deposits and payment systems. These include payments-related consent orders and enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) and...more
Deceptive rankings and fake reviews triggered a Federal Trade Commission (FTC) action for a comparison shopping website—and a warning to other companies. Delaware-based LendEDU operates a website that compares consumer...more
Until recently, Texas skincare company Sunday Riley was one of the shining stars of the lucrative cosmetics market – its products were featured at high-end retailers such as Sephora and Nordstrom, high-profile influencers and...more
Sunday Riley launched her skincare firm Sunday Riley Modern Skincare, LLC (“SRMS”) in 2009 and its skincare products, including Good Genes, Power Couple, U.F.O., C.E.O., Luna and Tidal, have enjoyed tremendous success, having...more