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The State AG Report – 10.27.2022

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Texas AG Paxton Sues Google For Unauthorized...more

CFPB Issues Opinion On “Clearly False” Consumer Report Data

The CFPB issued an Advisory Opinion and accompanying press release clarifying the agency’s position that the Fair Credit Reporting Act requires consumer reporting agencies to implement reasonable internal controls to prevent...more

The State AG Report – 10.20.2022

Here are this week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG Coalition Challenges Proposed Emissions...more

CFPB Sues Online Event Registration Company Alleging Manipulative Sales Tactics

The CFPB sued Active Network, LLC alleging that the online event registration company violated the Consumer Financial Protection Act of 2010 (CFPA) and the Electronic Fund Transfer Act (EFTA) when it used so-called “dark...more

CFPB Orders Regions Bank to Pay for Surprise Overdraft Fees

The CFPB has reached a settlement with Regions Bank to resolve allegations that Regions charged its customers overdraft fees on certain ATM withdrawals and debit card purchases even after telling consumers they had sufficient...more

CFPB, Center for Medicare and Medicaid Services Affirm Third-Party Financial Liability Regulations for Nursing Homes

The CFPB and Center for Medicare and Medicaid Services (CMS) issued a joint notification letter to nursing facilities and debt collectors affirming the agencies’ position that nursing facilities can violate the Nursing Home...more

CFPB Warns That Inadequate Data Security Practices Could Trigger CFPA Liability

In its recent Consumer Financial Protection Circular 2022-04 and accompanying press release, the CFPB affirmed the agency’s position that entities can violate the Consumer Financial Protection Act’s (CFPA) prohibition on...more

U.S. Bank Fined $37.5 Million for Allegedly Opening Accounts Without Consumers’ Knowledge

The CFPB entered into a Consent Order with U.S. Bank National Association over allegations that U.S. Bank pressured and incentivized its employees to open unauthorized accounts, in violation of the Consumer Financial...more

The State AG Report 7.28.2022

Here are this week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •NAAG Taps Kane As Executive Director-...more

CFPB Fines Hyundai Capital $19 Million for Credit Reporting Errors

Following an investigation, the CFPB required Hyundai Capital America, the financing arm of the Korean auto manufacturer, to make payments totaling over $19 million as a penalty for allegedly providing and failing to correct...more

The State AG Report – 7.14.2022

Here are this week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Bipartisan AG Coalition Urges Passage of...more

CFPB Reaffirms Privacy Requirements of FCRA for Credit Reporting Agencies and Users

The CFPB released an Advisory Opinion and an accompanying press release affirming the agency’s interpretation of the application of the Fair Credit Reporting Act to the provision and use of credit and background reports, with...more

AG Healey Recovers Over $900,000 from Auto Title Lender

Massachusetts AG Maura Healey reached a settlement with automobile title lender NH Title Group, Inc. to resolve allegations that it engaged in illegal auto lending practices in violation of Massachusetts consumer protection...more

CFPB Advisory Opinion Bans Debt Collectors from Charging Unauthorized Convenience Fees

The CFPB issued an Advisory Opinion affirming the agency’s position that federal law generally prohibits debt collectors from charging “convenience fees” on consumers making payments, and providing guidance to the fees that...more

The State AG Report – 6.16.2022

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Texas AG Paxton Settles with Contact Lens...more

CFPB Launches Inquiry into Employer-Driven Debt

On June 9, the CFPB launched an inquiry into practices and financial products that may result in employees being in debt to their employers. The agency is seeking data and worker experiences with these practices and products,...more

The State AG Report – 6.2.2022

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG Bonta Shares Proposed Regulations For...more

CFPB Reminds Lenders that Algorithms Are Not a Shield for Discrimination

The CFPB released Consumer Financial Protection Circular 2022-03 and an accompanying press release detailing the agency’s position on the application of anti-discrimination laws to consumer lenders relying on so-called “black...more

The State AG Report – 5.26.2022

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: FTC Launches Inquiry Into Formula...more

CFPB Moves to Spur Consumer Finance Competition

The Consumer Financial Protection Bureau announced the opening of a new office, the Office of Competition and Innovation, to replace the Office of Innovation. The new office is part of an effort to help promote innovation in...more

The State AG Report – 5.19.2022

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: AG Healey Leads Coalition Filing...more

CFPB Launches Informational Circulars Program

In a May 16 blog post, Rohit Chopra, Director of the CFPB, announced a new system for providing guidance to sister regulatory agencies with consumer financial protection roles, such as State AGs. The CFPB will begin issuing...more

CFPB Fines Bank of America $10 Million Over Alleged Misconduct Regarding Out-of-State Account Garnishments

The CFPB and Bank of America have reached a settlement to resolve allegations that Bank of America—the nation’s second largest retail bank—illegally processed out-of-state garnishment orders and misled consumers regarding...more

James and the CFPB Sue Moneygram over Consumer Protection and Anti-Fraud Allegations

New York AG Letitia James and the CFPB sued Moneygram International, Inc. and Moneygram Payment Systems, Inc. (collectively “Moneygram”) over alleged violations of consumer protection laws, including the Consumer Financial...more

AG Coalition Calls for an End to Mortgage Convenience Fees

Illinois AG Kwame Raoul led a coalition of 23 state AGs in calling upon the CFPB to prohibit mortgage servicers from imposing convenience fees on consumers, in response to the CFPB’s recent Request for Information Regarding...more

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