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Contract Terms › Banking Sector › Unfair or Deceptive Trade Practices

Orrick, Herrington & Sutcliffe LLP

CFPB issues new proposal to ban certain financial contract terms

Orrick, Herrington & Sutcliffe LLP on

On January 13, the CFPB proposed a new rule to ban large banks and consumer finance companies from using certain contractual provisions in agreements with consumers under Regulation AA. The CFPB’s proposal warns against the...more

Ballard Spahr LLP

Proposed Consumer Contracts Restatement Critiqued at ALI Annual Meeting

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At the American Law Institute (ALI) annual meeting in Washington, DC on May 22-24th, members had the opportunity to review a discussion draft of the Restatement of the Law Third, Consumer Contracts. The draft is the result...more

Ballard Spahr LLP

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

Ballard Spahr LLP on

The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

Ballard Spahr LLP

CFPB enters into consent order with credit union

Ballard Spahr LLP on

The CFPB announced that it has entered into a consent order with Navy Federal Credit Union to settle allegations that the credit union engaged in unfair and deceptive collection practices in violation of the Consumer...more

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