Financial services companies may feel relief from the aggressive federal oversight and regulation that defined the past decade. However, regulatory risk has not disappeared—it has shifted. ...more
3/13/2025
/ Consumer Contracts ,
Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Federal Trade Commission (FTC) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Popular ,
Risk Management ,
State Attorneys General ,
State Regulators ,
Truth in Lending Act (TILA) ,
UDAAP ,
Unfair or Deceptive Trade Practices
The CFPB is expected to initiate a rulemaking process that would require companies under its jurisdiction to let customers talk to a human by pressing a single button.
The CFPB also has plans to issue rules or guidance...more
8/20/2024
/ Artificial Intelligence ,
Biden Administration ,
Bots ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Customer Service Calls ,
Customer Service Standard ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Proposed Rules ,
Rulemaking Process
If you’ve been focused on only the high-level statements from the CFPB, you might already expect Rohit Chopra to fashion himself and the agency as “pro-consumer.” Consistent with that approach, the agency just signaled its...more
In the evolving world of lead generation and performance-based customer acquisition, the quest for profits can lead to big legal risks, some of them too large for advertisers that buy leads through third parties. Advertisers...more
2/23/2024
/ Advertising ,
Business & Professions Code ,
CAN-SPAM Act ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Formation ,
Do Not Call List ,
Endorsements ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Lead Generators ,
Marketing ,
Prior Express Consent ,
Risk Mitigation ,
TCPA ,
Testimonial Statements ,
Third-Party ,
Third-Party Service Provider ,
Unfair or Deceptive Trade Practices
Non-bank financial institutions will have a new data breach disclosure requirement effective May 13, 2024. The Federal Trade Commission (FTC) recently updated the Gramm-Leach-Bliley Safeguards Rule (“Safeguards Rule”), adding...more
Large banks and credit unions must provide certain information to customers free of charge, such as account balances, transaction history, and fees, according to an advisory opinion issued by the Consumer Financial Protection...more
10/17/2023
/ Advisory Opinions ,
Banks ,
Biden Administration ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Excessive Fees ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Services Industry ,
Hidden Fees ,
Supervisory Highlights
Marketers and lead generators have new guidance in the form of enforcement orders on what the Federal Trade Commission (FTC) appears to consider required practice when obtaining consumer consent prior to the sale, transfer,...more
8/1/2023
/ Consent ,
Enforcement Actions ,
Enforcement Priorities ,
Federal Trade Commission (FTC) ,
Lead Generators ,
Marketing ,
Personal Information ,
Prior Express Consent ,
Settlement ,
Telemarketing Sales Rule ,
Unfair or Deceptive Trade Practices
The Consumer Financial Protection Bureau (CFPB) issued a statement in collaboration with federal partners, including the Federal Trade Commission (FTC) and the Department of Justice (DOJ), emphasizing that advanced technology...more
The Consumer Financial Protection Bureau (CFPB) has issued a request for information (RFI) to examine the practices of data brokers and businesses involved in the collection, use, and sale of consumer information on March 15,...more
The Biden administration's new Blueprint for an AI Bill of Rights to enhance protections for Americans elevates recent federal regulatory and enforcement actions related to consumer protection, financial services, and...more
Through a new interpretive rule announced this week, the Consumer Financial Protection Bureau (CFPB) has declared that digital marketing providers can be held liable under the Consumer Financial Protection Act (CFPA)...more
8/15/2022
/ Advertising ,
Banks ,
Behavioral Advertising ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Internet Marketing ,
Marketing ,
Nonbank Firms ,
UDAAP ,
Unfair or Deceptive Trade Practices
Does Ownership and Management Structure Matter?
Fiduciary Relationships - Special confidence placed in one who in equity and good conscience is bound to act in good faith and in due regard to the one reposing confidence....more
2/20/2022
/ Consumer Credit Protection ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Officers ,
Corporate Veil ,
Directors ,
Federal Trade Commission (FTC) ,
Fiduciary Duty ,
FTC Act ,
Personal Liability ,
Piercing the Corporate Veil ,
Risk Management ,
Section 5