On December 20, 2022, the Federal Trade Commission (FTC) published a Request for Comment (Request) on potential revisions to its Green Guides for the Use of Environmental Claims (Green Guides)....more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
12/20/2022
/ Abusive Acts ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
CROA ,
Federal Register ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Green Guides ,
Multi-Factor Authentication ,
Online Marketplace ,
Registration ,
Scams ,
Social Media ,
Telemarketing Sales Rule ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
A just-issued Congressional staff report raised concerns that certain financial technology companies (fintechs) were involved in processing improper loans through the Paycheck Protection Program (PPP) and recommended, among...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
12/6/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Background Checks ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Do Not Call List ,
Enforcement Actions ,
Fake Reviews ,
False Advertising ,
FDIC ,
Federal Trade Commission (FTC) ,
FTC Act ,
Gramm-Leach-Blilely Act ,
Telemarketing Sales Rule ,
Unfair or Deceptive Trade Practices
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
11/15/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Big Tech ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Data Security ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
FTC Act ,
ROSCA ,
Sherman Act ,
Unfair Competition
Last week we wrote about the Federal Trade Commission’s (FTC) seventh annual PrivacyCon—discussing overall takeaways from the conference and summarizing key takeaways the Children’s Privacy panel. This post—the last in our...more
On November 1, 2022, the Federal Trade Commission (FTC) hosted PrivacyCon 2022, its seventh annual conference in which the Commission looks to academics and researchers to inform its efforts to address emerging consumer...more
CFPB Releases Outline of Proposals and Alternatives to Implement Section 1033 of the CFPA. On October 27, the CFPB released a Small Business Advisory Review Panel Outline of Proposals and Alternatives Under Consideration...more
11/1/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Data Breach ,
Energy Projects ,
Excessive Fees ,
Fake Reviews ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Labeling ,
Membership Agreements ,
Small Business ,
Unfair Competition
On October 20, 2022, the Federal Trade Commission (FTC) announced the launch of a new rulemaking process to address how fees are charged for goods or services, focusing on potentially “deceptive or unfair” fees that the FTC...more
10/24/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Advertising ,
AMG Capital Management LLC v FTC ,
Corporate Counsel ,
Cybersecurity ,
Disclosure Requirements ,
Federal Trade Commission (FTC) ,
Fees ,
FTC Act ,
Marketing ,
Proposed Rules ,
Surveillance ,
Unfair or Deceptive Trade Practices
In August, the FTC launched a groundbreaking privacy and security rulemaking under the FTC Act with an extensive Advanced Notice of Proposed Rulemaking (ANPR) that asks a wide range of questions. The ANPR has generated...more
Regulatory Announcements-
FTC Announces Agenda for October 2022 Open Commission Meeting. On October 13, the FTC announced the agenda for its October 20, 2022 Open Commission Meeting. Specifically, the agency announced that...more
10/18/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Chief Technology Officer (CTO) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Price Index ,
Data Security ,
Dodd-Frank ,
EFTA ,
False Claims Act (FCA) ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Fees ,
OCC ,
Surveillance
The National Institute of Standards and Technology (NIST) is leading the federal government’s charge on a framework for assessing and managing risks in artificial intelligence (AI), with a critical workshop this week to...more
In the world of crypto and Web3, a great deal of attention has focused on who is responsible for regulation and any sector-specific regulations that would follow: Are tokens securities, commodities, currencies, or something...more
10/11/2022
/ Advertising ,
Blockchain ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Cryptocurrency ,
Data Security ,
Digital Assets ,
Digital Currency ,
Federal Trade Commission (FTC) ,
FinTech ,
Marketing ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Technology
Regulatory Announcements-
CFPB Releases Report Finding Violations of Federal Law by Student Loan Servicers and University-Owned Lenders. On September 29, the CFPB released the Supervisory Highlights Student Loan Servicing...more
10/4/2022
/ American Bankers Association ,
California Consumer Privacy Act (CCPA) ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Horse Racing ,
Interest Rates ,
Overdraft Fees ,
Public Service Loan Forgiveness program (PSLF program) ,
Student Loans ,
Targeted Digital Advertising ,
UDAAP
Regulatory Announcements-
FTC Holds September Open Commission Meeting and Votes to Approve Government and Business Impersonation Fraud NPRM, Gig Work Policy Statement, and Dark Patterns Report. On September 15, the FTC held...more
9/21/2022
/ Advertising ,
Amicus Briefs ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Karma ,
Data Brokers ,
Data Collection ,
E-Cigarettes ,
Experian ,
Fair Credit Reporting Act (FCRA) ,
Fake Reviews ,
False Advertising ,
FDCPA ,
Federal Nursing Home Reform Act (FNHRA) ,
Federal Trade Commission (FTC) ,
FTC Act ,
Geolocation ,
Made in the USA ,
NPRM ,
Popular ,
Pre-approval ,
Skilled Nursing Facility ,
Surveillance ,
Third-Party
On September 15, 2022, California Governor Newsom announced his signing of A.B. 2273, the California Age-Appropriate Design Code Act, which the legislature passed on August 30. The law – modeled after the United Kingdom...more
9/19/2022
/ California ,
California Consumer Privacy Act (CCPA) ,
COPPA ,
Data Profiling ,
Governor Newsom ,
New Legislation ,
Online Advertisements ,
Privacy Settings ,
Targeted Digital Advertising ,
Transparency ,
UK
On August 11, 2022, the Federal Trade Commission (FTC) issued an Advance Notice of Proposed Rulemaking (ANPR), titled “Trade Regulation Rule on Commercial Surveillance and Data Security”. The wide-ranging ANPR seeks feedback...more
9/19/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
COPPA ,
Data Management ,
Data Security ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
FTC Act ,
GLBA Privacy ,
Privacy Legislation ,
Right to Delete ,
Surveillance ,
Targeted Digital Advertising
On August 30, 2022, the California Legislature passed A.B. 2273, the California Age-Appropriate Design Code Act. The bill – which is modeled after the United Kingdom Information Commissioner’s Office code of practice for age...more
9/1/2022
/ Algorithms ,
California ,
California Consumer Privacy Act (CCPA) ,
COPPA ,
Data Profiling ,
Data Protection ,
Marketing ,
Online Advertisements ,
Privacy Settings ,
Private Right of Action ,
UK
FTC Launches Long-Anticipated Trade Regulation Rulemaking on ‘Commercial Surveillance’ and Data Security. On August 11, the FTC issued an Advance Notice of Proposed Rulemaking (ANPR), titled “Trade Regulation Rule on...more
8/30/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Advertising to Minors ,
Car Dealerships ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
Coronavirus/COVID-19 ,
Data Security ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FinTech ,
FTC Act ,
Made in the USA ,
Marketing ,
Multi-Factor Authentication ,
Personal Protective Equipment ,
Popular ,
ROSCA ,
Surveillance
Interest in non-fungible tokens (NFTs) — unique digital assets created and sold on blockchains — has exploded in the past year. Buyers have paid many millions for these digital goods, and online marketplaces have developed in...more
On August 11, 2022, the Consumer Financial Protection Bureau (CFPB) published a Circular stating that the failure of financial institutions, including nonbank financial firms such as fintech companies and credit reporting...more
On August 11, 2022, the Federal Trade Commission (FTC) released its much anticipated advance notice of proposed rulemaking (ANPR), titled “Trade Regulation Rule on Commercial Surveillance and Data Security.” The ANPR is the...more
8/12/2022
/ Administrative Procedure Act ,
Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
Automated Decision Systems (ADS) ,
Communications Decency Act ,
Consent ,
Consumer Financial Products ,
Corporate Counsel ,
Data Collection ,
Data Security ,
Federal Register ,
Federal Trade Commission (FTC) ,
FTC Act ,
Surveillance ,
Transparency ,
Unfair or Deceptive Trade Practices
Regulatory Announcements-
FTC Commissioner Phillips Plans to Leave the Agency in the Fall, Per Media Reports. On August 8, several media outlets reported that FTC Commissioner Noah Phillips informed his staff through a memo...more
8/9/2022
/ Automotive Loans ,
Bank Accounts ,
Cancellation Rights ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
CRA ,
Credit Reports ,
Department of Justice (DOJ) ,
Fair Credit Reporting Act (FCRA) ,
Fair Housing Act (FHA) ,
Federal Trade Commission (FTC) ,
FTC Act ,
Hyundai ,
Made in the USA ,
Medical Debt ,
Misleading Statements ,
Payment Processors ,
Personal Protective Equipment ,
Popular ,
Servicemembers Civil Relief Act (SCRA) ,
Truth in Lending Act (TILA) ,
US Bank
On July 26, 2022, the Request for Comment approved by the Federal Trade Commission (FTC or Commission) in May seeking public input on a number of proposed changes to the FTC’s Guides Concerning the Use of Endorsements and...more
7/27/2022
/ Advertising ,
Advertising to Minors ,
Comment Period ,
Endorsements ,
Fake Reviews ,
False Advertising ,
Federal Trade Commission (FTC) ,
FTC Act ,
FTC Endorsement Guidelines ,
Influencers ,
Marketing ,
Online Endorsements ,
Online Reviews ,
Unfair or Deceptive Trade Practices
Regulatory Announcements-
FTC Announces MOU with NLRB to Address Employment-Based Consumer Protection Issues. On July 19, the FTC announced that it entered into a memorandum of understanding (MOU) with the National Labor...more
7/26/2022
/ Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
EFTA ,
Federal Trade Commission (FTC) ,
FTC Act ,
Geolocation ,
Gig Economy ,
Memorandum of Understanding ,
Military Lending Act ,
NLRB ,
Non-Compete Agreements ,
OCC ,
Truth in Lending Act (TILA)