The FTC’s recently-filed lawsuit against two merchant cash advance providers and their chief executive officer and president for alleged unfair and deceptive conduct in violation of the FTC Act serves both as an illustration...more
Last Thursday, in addition to agreeing to decide an issue of major significance under the Telephone Consumer Protection Act, the U.S. Supreme Court agreed to decide whether Section 13(b) of the Federal Trade Commission Act,...more
7/13/2020
/ Certiorari ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Counsel ,
Enforcement Authority ,
Federal Trade Commission (FTC) ,
FTC Act ,
FTCA Section 13(b) ,
Injunctive Relief ,
Restitution ,
SCOTUS
PLI’s 25th Annual Consumer Financial Services Institute will take place on March 23-24, 2020, in New York City (and by live webcast and groupcast in Philadelphia, Pittsburgh, and Mechanicsburg, Pennsylvania, and New...more
2/4/2020
/ Artificial Intelligence ,
Banks ,
Blockchain ,
Class Action ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Deregulation ,
Fair Credit Reporting Act (FCRA) ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Innovative Technology ,
Madden v Midland Funding ,
OCC ,
Regulatory Standards ,
TCPA ,
True Lender ,
UDAP
The FTC has filed a lawsuit in an Atlanta federal district court against a company that markets fuel cards to operators of vehicle fleets in which the FTC alleges that the company violated the FTC Act’s prohibitions on unfair...more
The Federal Trade Commission (FTC) recently released its preliminary report on two studies it conducted to help understand the effectiveness of class action settlement notices and to “develop information to help improve...more
The FTC has announced that on Wednesday, May 8, it will host a forum on small business lending which will examine trends and consumer protection issues in the marketplace....more
As readers of this blog already know, Professor Jeff Sovern and I come at most issues from different sides of the street. Over the years, through our respective blogs and at various programs, we have engaged in spirited but...more
I was pleased to see the announcement by FTC Chairman Joseph Simons that the FTC has approved the appointment of Andrew Smith to serve as Director of the agency’s Bureau of Consumer Protection, beginning next week....more
According to media reports, the FTC is expected to appoint Andrew Smith, an attorney in private practice in Washington, D.C. who currently represents many industry clients, to lead the FTC’s Consumer Protection Bureau. His...more
In a state enforcement action alleging violations of California's lending law and seeking to enjoin continued lending to state residents, the California Supreme Court has ruled that the two tribally affiliated entities that...more
1/4/2017
/ CA Supreme Court ,
Civil Investigation Demand ,
Consumer Financial Products ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FTC Act ,
Internet Lenders ,
Native American Issues ,
Payday Loans ,
Popular ,
Sovereign Immunity ,
Tribal Loans
The FTC has announced that to study the effectiveness of various class action settlement notice programs, it has issued orders to eight claims administrators requiring them to provide information on their procedures for...more
The Federal Trade Commission (FTC) has announced that to study the effectiveness of various class action settlement notice programs, it has issued orders to eight claims administrators requiring them to provide information on...more
As observers ponder the CFPB’s future in a Trump Administration, the Federal Trade Commission’s continuing role as an enforcer of federal consumer financial protection laws should not be overlooked. Over the approximately...more
11/18/2016
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
CROA ,
ECOA ,
EFTA ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FTC Act ,
Gramm-Leach-Blilely Act ,
Military Lending Act ,
Section 5 ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
The Federal Trade Commission (FTC) has obtained a $1.3 billion judgment against the individual operator of several payday lenders and related servicing and marketing companies in a lawsuit filed in a Nevada federal district...more
10/17/2016
/ Banking Sector ,
Consumer Financial Products ,
Disclosure Requirements ,
Federal Trade Commission (FTC) ,
Finance Charges ,
Financial Institutions ,
Native American Issues ,
Online Marketplace Lending ,
Payday Loans ,
Summary Judgment ,
Tribal Loans ,
Truth in Lending Act (TILA)
The Federal Trade Commission (FTC) has filed an action against nine auto dealerships and their individual owners in a California federal court that the FTC described as its "first action against an auto dealer for 'yo-yo'...more
10/14/2016
/ Advertising ,
Automotive Industry ,
Automotive Loans ,
Banking Sector ,
Car Dealerships ,
Consumer Financial Products ,
Consumer Lenders ,
False Advertising ,
Federal Trade Commission (FTC) ,
Regulation M ,
Regulation Z ,
Retail Installment Sales Contracts ,
Title Loans ,
Unfair or Deceptive Trade Practices
A goal of providing effective disclosures to consumers is to allow consumers to make informed decisions. But what must be done to make disclosures effective? This was the question the Federal Trade Commission (FTC) explored...more
9/27/2016
/ Advertising ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Mobile Apps ,
Mobile Devices ,
Native Advertising ,
Popular ,
Social Media ,
Social Networks ,
Tracking Systems ,
Video Games ,
Warner Brothers Entertainment
A recent Federal Trade Commission (FTC) consent order with two Ohio auto dealers creates uncertainty not only for auto dealers, but also for all other businesses advertising credit or lease offers. The order settled...more
7/20/2016
/ Auto Lease ,
Automotive Industry ,
Automotive Loans ,
Car Dealerships ,
Consent Order ,
Consumer Financial Products ,
Consumer Lenders ,
Credit Ratings ,
Disclosure Requirements ,
False Advertising ,
Federal Trade Commission (FTC) ,
FTC Act ,
Popular ,
Section 5 ,
Unfair or Deceptive Trade Practices
The Federal Trade Commission's (FTC) Bureau of Consumer Protection issued a Staff Comment on June 16, 2016, supporting several of the Federal Communication Commission's (FCC) proposed regulations implementing amendments to...more
The Federal Trade Commission (FTC) recently held a FinTech forum addressing marketplace lending. The forum was promoted by the FTC as the first in a series it plans to hold exploring emerging financial technology and its...more
6/21/2016
/ Banking Sector ,
Consumer Financial Products ,
Consumer Lenders ,
ECOA ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinTech ,
Innovative Technology ,
Online Marketplace Lending ,
Popular
The Federal Trade Commission (FTC) has issued new guidance to help background screening companies comply with the Fair Credit Reporting Act (FCRA) when conducting background checks on current or prospective employees. The new...more
The Federal Trade Commission (FTC) recently published a reminder to debt collectors of the Fair Debt Collection Practices Act (FDCPA) compliance risks that are created by the use of social media or text messages in connection...more
4/1/2016
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Cell Phones ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Counsel ,
Debt Collection ,
Debt Collectors ,
Facebook ,
FDCPA ,
Federal Trade Commission (FTC) ,
Popular ,
Risk Management ,
Social Media ,
TCPA ,
Text Messages
The Federal Trade Commission (FTC) has issued orders to obtain information about the process by which businesses audit their compliance with the Payment Card Industry Data Security Standards (PCI DSS) and the role of such...more
The Federal Trade Commission (FTC) received more than 3 million consumer complaints in 2015 with debt collection topping the list, according to its newly released Consumer Sentinel Network Data Book. The annual report, which...more
The European Commission (EC) and the U.S. Department of Commerce have reached an agreement to create a framework for transfers of personal data from the European Union to the United States. The framework, named the EU-U.S....more
The Federal Trade Commission (FTC) has filed a complaint in a California federal district court against the operators of DeVry University in which it alleges that DeVry violated the FTC Act by misrepresenting the employment...more