News & Analysis as of

Misrepresentation Enforcement Actions Consent Order

WilmerHale

FTC’s Enforcement Action Against Avast Signals Increased Focus on Consumer Web Data

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The Federal Trade Commission (FTC) has been actively flexing its authority as a privacy regulator in recent months. The agency has been especially focused on identifying data practices it views to be “unfair”, thereby...more

Sheppard Mullin Richter & Hampton LLP

CFPB Targets FinTech for Faulty Automated Savings Algorithm

On August 10, the CFPB issued a consent order against a FinTech company for a faulty algorithm utilized in its personal finance management app that caused consumer accounts to overdraft and incur overdraft penalties....more

BakerHostetler

FTC Reviews Fashion Nova - Review Suppression Leads to Double Trouble

BakerHostetler on

In April 2020, when we were all focused on finding masks and hand sanitizer, the Federal Trade Commission (FTC) announced a $9.3 million settlement with Fashion Nova. The agency alleged that the company violated the Mail...more

Sheppard Mullin Richter & Hampton LLP

CFPB Takes Action Against FinTech Company for Originating Unauthorized Loans

On July 12, the CFPB issued a consent order against a FinTech company for facilitating point of sale financing activities without authorization from consumers.  The consent order requires the company to pay up to...more

Eversheds Sutherland (US) LLP

Federal Trade Commission signals increased focus on commercial collection and use of biometric data

In a major development for companies that collect, use, and store biometric data, the US Federal Trade Commission (FTC) reached a proposed settlement of a complaint against a company that allegedly deceived consumers about...more

Seyfarth Shaw LLP

FTC Proposes No-Money, No-Fault Settlement With Cosmetics Company Over False Customer Reviews

Seyfarth Shaw LLP on

Seyfarth Synopsis: FTC publishes proposed consent order with cosmetic company that posted fake customer reviews but some FTC commissioners place doubt on its effectiveness because there is no financial penalty....more

Ballard Spahr LLP

Debt Collector Enters into Consent Order with CFPB to Settle Alleged FDCPA and UDAAP Violations

Ballard Spahr LLP on

Last week, the CFPB announced that that it had entered into a consent order with an Illinois-based debt collection company. According to the settlement, the company’s business consists primarily of purchasing and then...more

Goodwin

Loan Brokerage Firm Agrees to $70,000 Settlement with CFPB Over Personal Loans Made to Recipients of Victim Compensation Funds

Goodwin on

On September 19, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced a simultaneous complaint and proposed consent order with a loan brokerage company and two associated individuals (the “Defendants”). The...more

Jackson Lewis P.C.

FTC Settles Claim of False Representations by Digital Advertising Company

Jackson Lewis P.C. on

The Federal Trade Commission (“FTC”) has entered into a Consent Order to resolve a complaint brought against a digital advertising company, Turn Inc. Turn provided advertisers with the ability to engage in targeted...more

Ballard Spahr LLP

CFPB and OCC settles claims of alleged unlawful practices for credit card add-on products

Ballard Spahr LLP on

The CFPB announced that it has entered into a consent order with First National Bank of Omaha to settle charges that the bank engaged in unfair or deceptive acts or practices in connection with the marketing and sale of...more

Stinson - Corporate & Securities Law Blog

CFPB Week in Review

The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation - Enforcement Action Against Santander Bank - ...more

Goodwin

CFPB Steps Up Scrutiny of FinTech Companies

Goodwin on

On March 7, 2016, the Consumer Financial Protection Bureau (CFPB) announced that it will begin collecting complaints from consumers about online marketplace lenders, signaling its intention to increasingly regulate the...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The PCAOB filed a settled action involving an auditing firm in which the consent order of settlement was based on admissions of facts. The approach is similar to the one adopted by the SEC in which the Commission requires...more

MoFo Reenforcement

CFPB Orders Auto Financer to Pay $48.3M for Misleading Borrowers

MoFo Reenforcement on

On September 30, 2015, the CFPB ordered an indirect auto lending company and its auto lending subsidiary to pay $48.3 million in fines for alleged FDCPA, TILA, and UDAAP violations. The CFPB alleges that the companies...more

Manatt, Phelps & Phillips, LLP

Add-On Products Add up to $63M Settlement With FDIC

Why it matters - Credit card add-on products were the subject of a recent enforcement action brought by the Federal Deposit Insurance Corporation (FDIC) against Comenity Bank of Delaware and Comenity Capital Bank in...more

Goodwin

Add-On Products Continue To Present Litigation Risks For Lenders

Goodwin on

The Consumer Financial Protection Bureau’s recent action against two credit card vendors regarding credit monitoring and identity theft protection services is a reminder of the legal risks associated with certain add-on...more

McGuireWoods LLP

CFPB Targets Real Estate Developer in Recent Enforcement Action

McGuireWoods LLP on

The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order against International Land Consultants, Inc. (ILC), a real estate development company, and four of its employees involved in the marketing,...more

King & Spalding

FTC Scrutinizes Two Companies For Falsely Reporting Compliance With E.U. Safe Harbor In Privacy Policies

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On April 7, 2015, the Federal Trade Commission (“FTC”) announced that two companies have agreed to settle claims that the companies failed to update their privacy policies to reflect lapsed compliance with the U.S.-E.U. and...more

Robinson & Cole LLP

FTC settles with two companies over misrepresentations of safe harbor compliance

Robinson & Cole LLP on

The Federal Trade Commission (FTC) announced last week that it is settling investigations against American International Mailing, Inc. and TES Franchising LLC alleging that each were misrepresenting to consumers that they...more

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