On December 19, 2024, the Federal Trade Commission announced a proposed $20 million settlement with Leader Automotive Group and its parent company, AutoCanada, to resolve claims brought by the FTC and the State of Illinois....more
3/4/2025
/ Add-ons ,
Canada ,
Car Dealerships ,
Consumer Protection Laws ,
Corporate Fines ,
Enforcement Actions ,
Fake Reviews ,
False Advertising ,
Federal Trade Commission (FTC) ,
Fraud ,
Hidden Fees ,
Penalties ,
State Attorneys General ,
Unfair or Deceptive Trade Practices
In this article, we share a timeline of our monthly "bites" for 2024 applicable to the credit card industry. The year saw the CFPB give a fair amount of attention to credit card products, with a focus on pricing....more
1/30/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Department of Justice (DOJ) ,
Fee Caps ,
Fees ,
Final Rules ,
Financial Institutions ,
Interchange Fees ,
Regulation Z ,
Regulatory Agenda ,
Rewards Programs ,
Truth in Lending Act (TILA)
A new Illinois data privacy law specifically tailored to motor vehicle-secured financing transactions becomes effective on January 1, 2024, and is likely to lead to similar laws in other states. ...more
In this article, we share a timeline of our monthly "bites" for 2022 applicable to the credit card industry. As evidenced by the timeline, federal regulators (primarily the CFPB) are beginning to renew their focus on credit...more
1/19/2023
/ CARD Act ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Credit Cards ,
Dodd-Frank ,
ECOA ,
Excessive Fees ,
Fair Credit Reporting Act (FCRA) ,
Fees ,
Financial Services Industry ,
UDAAP ,
Unconstitutional Condition
On March 23, 2021, Illinois Governor Pritzker signed SB 1792, which includes the Illinois Predatory Loan Prevention Act, into law.
The new law imposes sweeping changes to the rate authority on consumer purpose...more
On March 26, 2020, the Bureau of Consumer Financial Protection (CFPB) issued a Statement on Supervisory and Enforcement Practices Regarding Bureau Information Collection for Credit Cards and Prepaid Account Issuers...more