The Federal Trade Commission (FTC) recently announced a settlement with a company that services auto loans for alleged violations of the Fair Credit Reporting Act (FCRA) “Furnisher Rule.” The settlement serves as a reminder...more
9/18/2015
/ Automotive Loans ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Reporting Agencies ,
CRA ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FTC Act ,
Unfair or Deceptive Trade Practices
When examining banks and companies subject to CFPB supervisory authority for FCRA compliance, CFPB examiners will look at whether the bank or company has followed FCRA requirements for use of background checks on employees...more
The CFPB, jointly with the FTC, has filed an amicus brief with the U.S. Court of Appeals for the Third Circuit in Bock v. Pressler & Pressler, LLP, the case in which the district court ruled that a debt collection law firm...more
A limited liability company is a “person” that can file a lawsuit under the Fair Debt Collection Practices Act (FDCPA), the U.S. Court of Appeals for the Sixth Circuit has ruled. In Anarion Investments LLC v. Carrington...more
8/14/2015
/ Appeals ,
Civil Liability ,
Debt Collectors ,
FDCPA ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Foreclosure ,
Homeowners ,
Limited Liability Company (LLC) ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages
The Federal Trade Commission (FTC) and the Florida Attorney General (AG) have jointly filed a complaint in a Florida federal court against several companies and their individual owners alleging that the defendants engaged in...more
7/3/2015
/ Computer Fraud and Abuse Act (CFAA) ,
Consumer Lenders ,
Debt-Relief Industry ,
Elder Abuse ,
Enforcement Actions ,
FDUTPA ,
Federal Trade Commission (FTC) ,
Financial Abuse ,
Financial Institutions ,
FTC Act ,
Nonbank Firms ,
Telemarketing
The Federal Trade Commission recently announced a proposed settlement with a retail tracking company to resolve charges that the company’s privacy policy misled consumers about their ability to opt out of the company’s...more
The Federal Trade Commission received more than 2.5 million consumer complaints in 2014, according to its newly released Consumer Sentinel Network Data Book. The annual report provides national and state-by-state data on...more
The New York Attorney General and Federal Trade Commission recently announced they had filed two joint federal court lawsuits against debt collectors in the Western District of New York. The Attorney General and FTC are...more
A follow-up report on credit report accuracy issued this week by the Federal Trade Commission is likely to be cited by the CFPB as additional support for the CFPB’s concerns about inaccurate credit reporting. In December...more
The Federal Trade Commission has adopted a final rule amending its Cooling-Off Rule to exclude from the Rule’s coverage door-to-door sales of consumer goods or services with a purchase price of $130 or more that are made at...more
The Federal Trade Commission (FTC) recently announced that it is seeking supplemental public comments on proposed changes to its Used Motor Vehicle Trade Regulation Rule (Used Car Rule) and the Used Car Buyers Guide (Buyers...more
The Federal Trade Commission (FTC) recently announced an enforcement action against TRUSTe, a provider of privacy certifications for online businesses. The settlement resolves allegations that TRUSTe deceived consumers about...more
As part of a systematic review of its regulations, the Federal Trade Commission (FTC) is seeking comment on a variety of issues relating to its Telemarketing Sales Rule (TSR). The FTC is conducting the review “to determine...more
The CFPB, together with the FTC, has filed an amicus brief in Hernandez v. Williams, Zinman & Parham, P.C., a Fair Debt Collection Practices Act case on appeal to the U.S. Court of Appeals for the Ninth Circuit. ...more
The debt collection industry continues to be a major focus of the Federal Trade Commission’s enforcement efforts, as shown by the agency’s decision to simultaneously announce two settlements last week with Tennessee and New...more
The Federal Trade Commission recently announced that it has entered into a settlement with one of the nation’s largest credit repair companies and its owners for alleged violations of the Credit Repair Organizations Act...more
The Federal Trade Commission recently announced a consent order with a subprime auto lender for alleged violations of the Federal Trade Commission Act (FTC Act), the Fair Debt Collection Practices Act (FDCPA), and the Fair...more
The Federal Trade Commission recently announced two more settlements with data brokers for alleged violations of the Fair Credit Reporting Act (FCRA). The settlements with Instant Checkmate, Inc., InfoTrack Information...more
A new joint publication of the Federal Trade Commission (FTC) and Equal Employment Opportunity Commission (EEOC) serves as a reminder to employers of the risks that come with the use of background information when making...more
The FTC wants the debt collection industry to know that it does not intend to take a backseat to the CFPB when it comes to FDCPA enforcement. In announcing the release of its annual summary of debt collection activities, the...more
Servicemembers now have more channels for submitting complaints relating to their higher education. In addition to their ability to submit complaints about student loans via the CFPB’s complaint system, servicemembers using...more
The Federal Trade Commission continues to aggressively enforce the Fair Credit Reporting Act (FCRA) against data brokers, as shown by its recent settlement with TeleCheck Services, Inc. The settlement requires TeleCheck to...more
The Federal Trade Commission announced last week that it had entered into proposed consent orders with nine auto dealers in six states that were charged with deceptive advertising in violation of Section 5 of the FTC Act....more
The Federal Trade Commission recently announced the settlement of its first enforcement action for alleged violations of the Fair Credit Reporting Act (FCRA) risk-based pricing rule (Rule). The settlement demonstrates that...more
Last month, the CFPB, jointly with the FTC, filed an amicus brief in Sykes v. Mel S. Harris and Associates LLC, a Fair Debt Collection Practices Act case on appeal to the Second Circuit. This represents the third FDCPA case...more