The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. ...more
2/27/2019
/ Administrative Authority ,
Algorithms ,
Annual Reports ,
Artificial Intelligence ,
Automotive Industry ,
Car Dealerships ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
ECOA ,
Federal Trade Commission (FTC) ,
Military Service Members ,
Predictive Analytics ,
Regulation B
At the end of last week, the Federal Trade Commission (FTC) and the Department of Veterans Affairs (VA) announced that they have entered into a Memorandum of Agreement (MOA) “to provide mutual assistance in the oversight and...more
12/18/2018
/ Advertising ,
Consumer Financial Products ,
Department of Veterans Affairs ,
Educational Institutions ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Memorandum of Understanding ,
Regulatory Oversight ,
Student Enrollment ,
Unfair or Deceptive Trade Practices ,
Veterans
The FTC recently issued a paper outlining key takeaways from its December 2017 workshop examining injuries consumers may suffer from privacy and data security incidents. ...more
The U.S. Court of Appeals for the D.C. Circuit has rejected a trade group’s attempt to invalidate a November 2016 FTC opinion in which the agency concluded that outbound telemarketing calls made using soundboard technology...more
The CFPB has issued its seventh annual Fair Debt Collection Practices Act report covering the CFPB’s and FTC’s activities in 2017.
The CFPB’s previous FDCPA annual reports began with a message from former Director Cordray....more
The FTC has filed a lawsuit in a California federal district court against three interrelated student loan debt relief companies and the individual who is their majority owner for alleged violations of Section 5 of the FTC...more
2/9/2018
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Relief ,
Debt-Relief Industry ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Injunctions ,
Redress Payments ,
Regulatory Violations ,
Section 5 ,
Student Loans ,
Telemarketing Sales Rule
The FTC has entered a proposed consent order with Victory Media, Inc. (VMI) to settle the FTC’s charges that VMI violated Section 5 of the FTC Act by engaging in deceptive acts or practices in connection with its promotion of...more
10/27/2017
/ Consent Order ,
Consumer Financial Products ,
Continuing Education ,
Educational Institutions ,
False Advertising ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FTC Act ,
Marketing ,
Military Service Members ,
Misrepresentation ,
Promotional Items ,
Section 5 ,
Social Media ,
Unfair or Deceptive Trade Practices ,
Veterans
Last Friday, as expected, the FTC announced the launch of a coordinated federal-state law enforcement initiative targeting deceptive student loan debt relief companies. ...more
A recent flurry of FTC enforcement activity targeting companies offering student loan debt relief services suggests such companies could be the subject of the announcement scheduled for tomorrow “of a major coordinated...more
Regulators from the states of Connecticut, Idaho, Massachusetts, Minnesota and North Dakota (“Participating States”) have entered into a settlement agreement with three affiliated debt collection companies to settle...more
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
The Ninth Circuit has ruled that the FDCPA requirement in 15 U.S.C. §1692g(a) for “a debt collector” to send a validation notice either in “the initial communication” or “[w]ithin five days after the initial communication...more
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 FTC has sent a letter to the CFPB summarizing the FTC’s debt collection activities in 2015. The letter is intended to provide the CFPB with information for its annual report to Congress on the federal government’s FDCPA...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
The Federal Trade Commission has announced plans to conduct a survey of consumers regarding their experiences in buying and financing automobiles at dealerships.
According to the supplementary information in the notice...more
The Federal Trade Commission (FTC) has finalized changes to its telemarketing sales rule (TSR) that will prohibit sellers and telemarketers from creating or accepting remotely created payment orders or checks, cash-to-cash...more
A federal district court in New York has ruled that a debt collector did not violate the Fair Debt Collection Practices Act (FDCPA) by sending a collection letter in an envelope that allegedly revealed an internal tracking...more
The Federal Trade Commission and the Department of Veterans Affairs have signed a “Memorandum of Agreement” (MOA) “to provide mutual assistance in the oversight and enforcement of laws pertaining to advertising, sales, and...more