News & Analysis as of

European Free Trade Association › Fraud

The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven... more +
The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven European Economic Community (EEC). The current member states of the EFTA are Liechtenstein, Iceland, Norway, and Switzerland.   less -
Orrick, Herrington & Sutcliffe LLP

District court grants bank’s motion for stay pending appeal to consider EFTA arguments

Orrick, Herrington & Sutcliffe LLP on

On April 22, the U.S. SDNY granted a bank’s motion for interlocutory appeal and stay pending appeal to the U.S. Court of Appeals for the Second Circuit in a case involving alleged violations of the EFTA. The case stemmed from...more

Katten Muchin Rosenman LLP

CFPB Shaken Up While Courts Address Consumer Fraud Obligations Under EFTA and Convenience Fees

Katten Muchin Rosenman LLP on

The new administration continues to shake up the financial services regulatory environment. The CFPB’s new acting director indicated over the weekend that the agency will not take its next draw of funding from the Federal...more

Goodwin

CFPB Orders Money Exchange Company to Pay $2.5 Million Over Remittance Practices

Goodwin on

On January 30, 2025, the Consumer Financial Protection Bureau (CFPB) announced  that it had entered into a consent order with an international remittance company regarding the company’s use of deceptive advertising for fee...more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Remittance Company to Pay $2.5 Million for Deceptive Practices and Inaccurate Disclosures

Sheppard Mullin Richter & Hampton LLP on

On January 30, 2025, the CFPB issued an order against a remittance company for misleading consumers about fees and failing to provide accurate disclosures, harming consumers who relied on the company’s representations when...more

Adams & Reese

Financial Institutions Face New Risks in Allowing Consumers to Execute Wire Transfers Online

Adams & Reese on

A recent court order issued in New York should concern any financial institutions that allow consumers to initiate wire transfers online. Financial institutions that allow consumers to execute wire transfers online should...more

Hudson Cook, LLP

CFPB Settles with Peer-to-Peer Payment App Company for Allegedly Failing to Prevent Fraud and Investigate Disputes

Hudson Cook, LLP on

On January 16, 2025, the CFPB announced that it issued a stipulation and consent order against the Company, to resolve allegations that the Company violated the CFPA, the EFTA, and Regulation E....more

Wiley Rein LLP

Wiley Consumer Protection Download (October 31, 2023)

Wiley Rein LLP on

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

Kohrman Jackson & Krantz LLP

Who’s Liable When Your Cryptocurrency Is Stolen?

Kohrman Jackson & Krantz LLP on

One of the asserted advantages of blockchain and cryptocurrency is their operation outside the commercial banking system. However, this very feature poses a challenge when cryptocurrency is stolen—or more accurately,...more

Harris Beach Murtha PLLC

SCOTUS Rules that Litigation Must Cease While Question of Arbitrability is on Appeal

Harris Beach Murtha PLLC on

In a decision with implications nationwide, the Supreme Court of the United States recently ruled that, under the Federal Arbitration Act — the principal federal statute that governs judicial enforcement of arbitration...more

Kaufman & Canoles

Zelle Fraud Reimbursement Demands on Banks and Credit Unions

Kaufman & Canoles on

Tristan v. Bank of America, N.A., Case No. 8:22-cv-1183-CDCA (June 8, 2022). There is a groundswell of litigation arising over the lack of fraud warning or bank reimbursement protection for customers utilizing the Zelle...more

Ballard Spahr LLP

CFPB expected to issue new guidance requiring banks to repay more fraud victims

Ballard Spahr LLP on

According to a WSJ report, the CFPB is preparing to release new guidance that would require banks to make refunds to victims of scammers who defraud consumers into sending money to a third party using an online money-transfer...more

Troutman Pepper Locke

Another Win for Banks: Illinois Federal Court Tosses Wire Fraud Claims

Troutman Pepper Locke on

A recent decision out of the Northern District of Illinois should help banks defend against increasingly common claims involving fraudulent wire transfers. In Trivedi v. Bank of America, et al., the district court granted the...more

Wiley Rein LLP

Wiley Consumer Protection Download (February 22, 2022)

Wiley Rein LLP on

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

Wiley Rein LLP

Wiley Consumer Protection Download (January 10, 2022)

Wiley Rein LLP on

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

Goodwin

FTC Announces $114 Million Settlement with Payday Lenders

Goodwin on

On February 11, 2021, the Federal Trade Commission (FTC) announced a $114 million settlement with the owners and operators of an alleged tribal payday lending scheme.  The settlement resolves allegations concerning...more

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2020)

Hudson Cook, LLP on

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

Morgan Lewis

CFPB Issues List of Consumer Protection Concerns for New Faster Payment Systems

Morgan Lewis on

The Consumer Protection Principles continue the CFPB’s expansive approach. Stating that it wants to ensure that “any new payment systems are secure, transparent, accessible, and affordable to consumers” and have “robust...more

Proskauer - Privacy & Cybersecurity

Courts Address the Level of Security Banks Must Provide to Business Accounts

Proskauer - Privacy & Cybersecurity on

Big or small, all bank accounts are susceptible to hijacking and fraudulent wire transfers. Banks ordinarily bear the risk of loss for unauthorized wire transfers. Two independent frameworks exist to govern these transfers:...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Class Action Chronicle - Spring 2014

Skadden, Arps, Slate, Meagher & Flom LLP on

This is the third edition of The Class Action Chronicle, a quarterly publication that provides an analysis of recent class action trends, along with a summary of class certification and Class Action Fairness Act rulings...more

19 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide