News & Analysis as of

Military Service Members Financial Services Industry

Ballard Spahr LLP

FTC Orders Career Training Company to Pay $43.5 Million for Luring Students With Deceptive Ads

Ballard Spahr LLP on

Career Step LLC, an online career training company has been ordered to pay $43.5 million in cash and debt cancellation to resolve FTC charges that the company “lured consumers, specifically servicemembers and their families,...more

Orrick, Herrington & Sutcliffe LLP

CFPB says SCRA-related complaints are increasing

On May 23, the CFPB published a blog post reporting that complaints from servicemembers, veterans, and their families significantly increased, with the total number of complaints surpassing 400,000 since the CFPB began...more

Hudson Cook, LLP

CFPB Bites of the Month - April 2024 - Won't Get Fooled Again, CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" covered during the April 2024 webinar....more

Sheppard Mullin Richter & Hampton LLP

Auto Finance Company Faces Class Action Lawsuit for Targeting Military Families

On February 21, a proposed class action lawsuit was filed against an auto finance company in the U.S. District Court for the Northern District of Georgia alleging various violations of the Military Lending Act (“MLA”). The...more

Ballard Spahr LLP

Military Lending Act violations alleged against title lender in Georgia class action

Ballard Spahr LLP on

A proposed class action lawsuit filed in the U.S. District Court for the Northern District of Georgia on February 21, 2024 against TitleMax of Georgia, Inc. and TMX Finance LLC (together, “TitleMax”) accuses the Georgia-based...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Payments

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to payments, along with some additional related information....more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Mortgage

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to mortgage along with some additional related information. ...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Nondiscrimination and Military Protection Law

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to consumers protected by nondiscrimination and military protection laws....more

Husch Blackwell LLP

FTC Finalizes—and Then Pauses—CARS Rule Impacting Dealers, Auto Finance Companies

Husch Blackwell LLP on

On December 12, 2023, the Federal Trade Commission (FTC) announced it has finalized the Combating Auto Retail Scams Rule (CARS Rule), which imposes various obligations affecting dealers’ sales practices and will also impact...more

Ballard Spahr LLP

CFPB continues to look to creditors to help servicemembers take advantage of SCRA benefits

Ballard Spahr LLP on

On January 12, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a report highlighting an increase in reported incidents of identity theft by servicemembers. The report, titled “Servicemember reports about...more

Ballard Spahr LLP

CFPB report highlights problems military families have experienced with digital payment apps

Ballard Spahr LLP on

On June 20, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued its Office of Servicemember Affairs Annual Report, which analyzes consumer complaints received from servicemembers, veterans, and their families for...more

Orrick, Herrington & Sutcliffe LLP

Property manager settles with DOJ on SCRA violations

On June 13, the DOJ announced a settlement with a property management company resolving allegations that it charged nine servicemembers early termination fees after receiving military orders to relocate, in violation of the...more

Orrick, Herrington & Sutcliffe LLP

CFPB finds issues in servicemember use of payment apps

On June 20, the CFPB released its Office of Servicemember Affairs Annual Report, highlighting financial threats associated with military families’ use of digital payment apps. The report analyzed complaints submitted by...more

Troutman Pepper

CFPB’s Office of Servicemember Affairs Issues Annual Report Highlighting Complaints Related to Payment App Fraud

Troutman Pepper on

On June 20, the Consumer Financial Protection Bureau’s (CFPB or Bureau) Office of Servicemember Affairs published its Annual Report analyzing complaints submitted by servicemembers, veterans, and their families in 2022. The...more

Orrick, Herrington & Sutcliffe LLP

Divided 4th Circuit: Including GAP coverage does not eliminate auto loan exemption from MLA

On April 12, a split U.S. Court of Appeals for the Fourth Circuit held that loans borrowed in part to finance the purchase of a car are not governed by the Military Lending Act (MLA), even when the loan covers additional...more

Ballard Spahr LLP

CFPB consent order shuts down mortgage lender focused on servicemembers

Ballard Spahr LLP on

On February 27, 2023, the Consumer Financial Protection Bureau (CFPB) entered into a consent order against RMK Financial Corporation d/b/a Majestic Home Loan (RMK), a California-based mortgage lender, based on allegations...more

Orrick, Herrington & Sutcliffe LLP

DOJ initiates SCRA action over auto auctions and dispositions

On March 3, the DOJ filed a complaint in the U.S. District Court for the Eastern District of North Carolina against a North Carolina-based towing company for allegedly auctioning off, selling, or disposing of vehicles owned...more

Ballard Spahr LLP

FTC issues annual ECOA report to CFPB (UPDATED)

Ballard Spahr LLP on

The FTC recently sent its annual letter to the CFPB reporting on the FTC’s activities related to the Equal Credit Opportunity Act (ECOA) and Regulation B.  The new letter reports on the FTC’s activities in 2022.  The Bureau...more

Sheppard Mullin Richter & Hampton LLP

CFPB Report: ID Theft Among Servicemembers Increasing

On January 12, the CFPB released a report that identified an uptick in identity theft reported by servicemembers. The report found that military consumers (defined as active duty servicemembers, veterans, and military family...more

Orrick, Herrington & Sutcliffe LLP

CFPB reports on servicemember identity theft

On January 12, the CFPB released an Issue Spotlight discussing identity theft affecting servicemembers. According to the report, servicemembers, veterans, and military family members are more likely to report identity theft...more

Ballard Spahr LLP

New CFPB report highlights increase in servicemember identity theft incidents

Ballard Spahr LLP on

On January 12, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a report highlighting an increase in reported incidents of identity theft by servicemembers. The report, titled “Servicemember reports about...more

DirectEmployers Association

OFCCP Week In Review - December 2022 #2

Monday, December 5, 2022: EEOC’s Union Settled Allegations Re Post-Pandemic Return to Work in the Office Policy - Republican Legislators Voiced Concern that EEOC’s Strategic Plan Did Not Address Return to Work in the Office...more

Troutman Pepper

CFPB Report Finds Only Small Fractions of Activated Guard and Reserve Servicemembers Receive SCRA Interest Rate Reductions

Troutman Pepper on

On December 7, the Consumer Financial Protection Bureau (CFPB) released a report entitled Protecting Those Who Protect Us. The report sought to quantify, for the first time, the use of the Servicemembers Civil Relief Act...more

Hudson Cook, LLP

New California Law Impedes Creditors' Ability to Offer Voluntary Protection Products to Military Servicemembers

Hudson Cook, LLP on

California recently enacted Senate Bill 1311, the Military and Veteran Consumer Protection Act of 2022, with the stated intent of strengthening the state's military consumer protection laws by enhancing protections for...more

Ballard Spahr LLP

CFPB and FTC file amicus brief regarding  servicemembers’ right to sue under the Military Lending Act

Ballard Spahr LLP on

On November 22, 2022, the Consumer Financial Protection Bureau (“CFPB”) and the Federal Trade Commission (“FTC”) filed an amicus brief in a case involving the right of servicemembers to sue under the Military Lending Act...more

93 Results
 / 
View per page
Page: of 4

"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:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide