News & Analysis as of

Marketing Credit Cards

Hudson Cook, LLP

CFPB Sues Credit Card Issuer and its Owner and CEO for Alleged Deceptive Marketing and Improper Fees

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On September 13, 2024, the CFPB filed a lawsuit against the company and its owner and CEO, alleging deceptive and abusive acts and practices in violation of the CFPA and violations of TILA and its implementing regulation....more

Cozen O'Connor

The State AG Report – 5.16.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • CFPB Reports “Doom Loops” and Other Harmful Practices in...more

Shipkevich PLLC

2023 Regulatory Recap of the Debt Settlement Industry Activity and 2024 Regulatory Forecast

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This article highlights the few newsworthy actions and events we wrote about the debt settlement industry throughout the year. The debt settlement industry did see some movement by regulatory bodies across the board, though...more

Kelley Drye & Warren LLP

Chargebacks911 Settlement Highlights FTC and AG Scrutiny of Chargeback Mitigation Practices

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This week, the FTC and Florida AG announced a settlement with Chargebacks911, a chargeback mitigation company that touted its ability to help companies respond to and reverse consumer credit card disputes. The FTC and Florida...more

Goodwin

CFPB Issues Report Highlighting Risks of Medical Financing

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​​​​​​​On May 4, 2023, the CFPB issued a report titled Medical Credit Cards and Financing Plans (the “Report”) that summarized the new developments in medical financing and the associated risks with these products.  ...more

Ballard Spahr LLP

CFPB releases seventh annual report to Congress on college credit card agreements

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The CFPB has released its seventh annual report to Congress on college credit card agreements.  The annual report is mandated by the CARD Act....more

Ballard Spahr LLP

CFPB releases report on college credit card agreements

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The CFPB released its sixth annual report to Congress on college credit card agreements.  The annual report is mandated by the CARD Act. ...more

Manatt, Phelps & Phillips, LLP

Disclosure Failures Result in New York AG Action

A credit card servicer and marketer will refund the initial $125 fee it charged to each of hundreds of New Yorkers as part of an agreement with the state’s attorney general....more

Ballard Spahr LLP

Fed issues consent order for bank’s alleged deceptive practices involving balance transfer credit cards

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The Federal Reserve Board announced that it had issued a Consent Order against Mid America Bank and Trust Company (Bank) for alleged deceptive marketing practices in violation of section 5 of the FTC Act related to balance...more

Carlton Fields

CFPB Continues to Target Add-On Credit Products

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The Consumer Financial Protection Bureau (CFPB) has stepped up its enforcement actions alleging deceptive and unfair practices in marketing and billing for add-on credit protection products. Add-on products have been one of...more

MoFo Reenforcement

One-Two Punch: CFPB Indirect Auto and Add-On Product Orders

MoFo Reenforcement on

The CFPB announced two new enforcement action settlements on September 28: one for alleged discriminatory auto loan pricing and the other for alleged deceptive credit card add-on product marketing practices....more

Ballard Spahr LLP

CFPB report highlights inadequate disclosure of campus financial products

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In its fifth annual report on college credit card agreements, the CFPB takes financial institutions as well as colleges and universities to task for failing to adequately disclose their marketing agreements for campus...more

Foley & Lardner LLP

The CFPB Requests That Agreements Marketing Financial Products to Students Enrolled in Institutions of Higher Education be...

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As a follow up to its initial inquiry earlier this year, the Consumer Financial Protection Bureau (“CFPB”) is alerting financial institutions about the “potentially risky practice of making secret payments” to colleges and...more

Ballard Spahr LLP

CFPB calls for public disclosure of campus financial product marketing agreements

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The CFPB wants financial institutions to post on their websites their marketing agreements with colleges and universities for financial products other than credit cards, such as deposit accounts, prepaid cards and financial...more

Goodwin

CFPB and OCC Issue Joint Enforcement Action Related to Credit Card Practices

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The CFPB announced that it and the OCC have issued a consent order against two affiliated banks alleging violations of federal consumer protection laws for deceptive marketing of their add-on products (i.e., payment...more

Morrison & Foerster LLP

It’s Déjà Vu All Over Again: Massachusetts Allows Actions for Violation of Privacy Rights Based on Collection of ZIP Codes

Massachusetts appears to have followed California’s lead in opening a litigation floodgate over ZIP code collection at the point of sale. In 2011, the California Supreme Court held in Pineda v. Williams-Sonoma Stores, Inc.,...more

McCarter & English, LLP

Retailers Beware: Common Credit Card and Marketing Data Collection Practices Could Violate Law

Already home to one of the toughest data protection laws in the country, Massachusetts now joins California in having expansive protections for data exchanged during a credit card transaction....more

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