The CFPB recently published a circular clarifying liability under consumer financial protection law for financial companies that fail to safeguard consumer data. The circular describes how firms may be violating the CFPA’s...more
On August 11, the CFPB published a circular clarifying liability under consumer financial protection law for bank and nonbank financial companies that fail to safeguard consumer data. The circular describes how firms may be...more
8/19/2022
/ Banks ,
Consumer Data Requests ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Cybersecurity ,
Data Security ,
Financial Services Industry ,
Nonbank Firms ,
Rulemaking Process ,
UDAAP ,
Unfair or Deceptive Trade Practices
On June 2, the FTC was granted a federal court order permanently barring a merchant cash advance operation and its owner from engaging in further deceptive practices and granting restitution to the customers the company...more
In two unrelated settlements, the California DFPI and Georgia attorney general each recently settled with rent-to-own companies. In the California settlement that was announced on January 10, the DFPI settled with a Los...more
On November 17, a majority of the active judges of the U.S. Court of Appeals for the Eleventh Circuit issued an order sua sponte to rehear Hunstein v. Preferred Collection and Management Services, Inc., en banc. The order...more
11/23/2021
/ Appeals ,
Consumer Lenders ,
Consumer Protection Laws ,
Data Privacy ,
Debt Buyers ,
Debt Collection ,
Debt Collectors ,
En Banc Review ,
FDCPA ,
Financial Services Industry ,
SCOTUS ,
Third-Party Service Provider ,
TransUnion LLC v Ramirez
On June 29, the CFPB and the Georgia Attorney General’s Office settled with a debt-relief and credit-repair company and its owners for allegedly deceiving consumers into hiring the company to lower or eliminate credit-card...more