On June 18, 2025, the New York Legislature passed the Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act (the “FAIR Act”). This significant legislation marks the most substantial update to...more
On June 2, 2025, the U.S. Court of Appeals for the Second Circuit issued a decisive ruling in a case involving allegations that certain debt-relief service providers illegally collected advance fees in violation of the...more
In the wake of reduced federal oversight following the Trump Administration’s rollback of the Consumer Financial Protection Bureau (“CFPB”), New York has emerged as a national leader in filling the regulatory void, with...more
On Thursday, March 13, 2025, New York Attorney General (“NYAG”) Letitia James advanced newly proposed legislation to better protect consumers and small businesses from unfair, deceptive, and abusive practices (“UDAP”). This...more
On February 28, 2025, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) filed a letter with the U.S. District Court for the Western District of New York in a case brought by the CFPB and seven state attorneys...more
The Consumer Financial Protection Bureau (CFPB) has been a focal point for both regulatory oversight and political debate arguably since its inception. Created in 2010 as a response to the financial crisis, the CFPB is still...more
2/11/2025
/ Administrative Appointments ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agencies ,
Regulatory Agenda ,
State and Local Government ,
State Attorneys General ,
Trump Administration ,
Unfair or Deceptive Trade Practices
Washington -
On January 24, 2025, Washington Representatives Reeves (D), Corry (R), and Walen (D) introduced House Bill (HB) 1599, which seeks to amend the state’s existing debt adjusting act. Currently, the Washington law...more
Felix Shipkevich and Yvonne Bowser-Caballero of Shipkevich PLLC, with special guest Nicholas Kosmas, Chief Legal Officer of ClearOne Advantage LLC, will host a webinar to discuss a post-election overview of the regulatory...more
12/4/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Settlement Services ,
Debt-Relief Industry ,
Debtors ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Legislative Agendas ,
Regulatory Agencies ,
Rulemaking Process ,
State Attorneys General ,
Trump Administration ,
Webinars
In recent weeks, we have seen an increase in prosecution by the Consumer Financial Protection Bureau (“CFPB”) and state attorneys general against debt relief companies and law firms. Additionally, the focus on these debt...more
On September 6, 2023, the Minnesota Attorney General’s Office (“Minnesota”) announced that it has begun investigating the operations of more than 50 student-loan debt-relief companies suspected of violating consumer...more
On July 18, 2023, the Federal Trade Commission (FTC) announced that the FTC, along with over 100 federal and state law enforcement partners, have launched an extensive campaign named "Operation Stop Scam Calls" to combat the...more
7/20/2023
/ Consumer Information ,
Data Collection ,
Disclosure ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Lead Generators ,
Robocalling ,
Scams ,
State Attorneys General ,
Telemarketing ,
Telemarketing Sales Rule ,
Telephone Service Providers ,
Unfair or Deceptive Trade Practices ,
VoIP ,
Websites
On May 5, 2023, the New York Attorney General, Letitia James, proposed a “landmark” bill to increase regulations (again) on the cryptocurrency industry, thereby supposedly protecting investors, consumers, and the broader...more
5/11/2023
/ Audits ,
Conflicts of Interest ,
Consumers ,
Crypto Exchanges ,
Cryptocurrency ,
Financial Statements ,
Investment Adviser ,
Investor Protection ,
Investors ,
Proposed Legislation ,
Proposed Regulation ,
Regulatory Oversight ,
State Attorneys General ,
Transparency
On November 15, 2022, the New York Attorney General’s Office released its Fall Round-Up (“Round-Up”) describing major actions and initiatives implemented by New York Attorney General Letitia James (“AG James”) since August...more
11/22/2022
/ Cease and Desist Orders ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Enforcement Actions ,
Financial Fraud ,
Investment ,
Investor Protection ,
NY Supreme Court ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
State Attorneys General