News & Analysis as of June 1, 2025

Enforcement Actions

+ Follow

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 -

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

Sheppard Mullin Richter & Hampton LLP on 2/3/2025

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

CFPB Warns Government Benefits Distributors About Compulsory Use of Prepaid Cards

Cooley LLP on 2/21/2022

On February 15, 2022, the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin indicating that it will be scrutinizing prepaid card providers who distribute government benefits and payments. Specifically,...more

CFPB Opts Not to Take Action Against Banking App

Sheppard Mullin Richter & Hampton LLP on 10/13/2021

Ahead of an upcoming merger between a digital banking platform and a special purpose acquisition company, both parties disclosed in a regulatory filing last week that the platform received a Civil Investigative Demand (“CID”)...more

Lessons from the CFPB’s First Remittance Transfer Rule Consent Order

Bradley Arant Boult Cummings LLP on 9/23/2019

In 2010, Congress amended the Electronic Funds Transfer Act (EFTA) by creating “a comprehensive system of consumer protections for money sent by U.S. consumers to individuals and businesses in foreign countries.” In 2013, the...more

CFPB Sues Bank Over Overdraft Sales Pitch

Smith Debnam Narron Drake Saintsing & Myers,... on 1/24/2017

The CFPB’s concern with incentives and overdrafts continues and has resulted in a lawsuit filed against a Minnesota based TCF National Bank. In the lawsuit, the CFPB alleges that TCF National Bank violated the UDAAP...more

“Nonbank” Lender Seeks Injunction Restraining CFPB Administrative Action

Dorsey & Whitney LLP on 6/20/2016

On May 9, 2016, Integrity Advance, LLC and its CEO James Carnes filed suit against the Consumer Financial Protection Bureau (“CFPB”) in United States District Court for the District of Columbia seeking to enjoin the CFPB from...more

6 Results

View per page

Page: of 1