Announced as the 2024 Chairman of the Attorney General Alliance (AGA), Nevada Attorney General Aaron D. Ford has announced an initiative to help consumers navigate today’s consumer landscape. Titled “Empowering Consumers...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
2/22/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Department of Justice (DOJ) ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Notice of Proposed Rulemaking (NOPR) ,
NPRM ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
TCPA
On January 31, Tennessee Attorney General (AG) Jonathan Skrmetti, joined by Virginia AG Jason Miyares, filed suit against the NCAA in the U.S. District Court for the Eastern District of Tennessee for alleged violations of the...more
2/19/2024
/ Alston v NCAA ,
Antitrust Division ,
Antitrust Litigation ,
College Athletes ,
Colleges ,
Compensation & Benefits ,
Department of Justice (DOJ) ,
Name and Likeness ,
NCAA ,
Preliminary Injunctions ,
SCOTUS ,
Sherman Act ,
Sports ,
State Attorneys General ,
Student Athletes ,
TRO
On February 6, a bipartisan group of 51 attorney general (AG) sent a warning letter to Life Corporation (Life Corp.) for allegedly engaging in an illegal robocall campaign that they claim was intended to deter New Hampshire...more
2/16/2024
/ Artificial Intelligence ,
Auto-Dialed Calls ,
Do Not Call List ,
Enforcement Actions ,
FCC ,
Political Campaigns ,
Political Candidates ,
Political Corruption ,
Primary Elections ,
Regulatory Violations ,
Robocalling ,
State Attorneys General ,
TCPA ,
Unfair or Deceptive Trade Practices ,
Warning Letters
On February 8, New York attorney general (AG) Letisha James announced a $77 million judgment with three merchant cash advance (MCA) companies, Richmond Capital Group, Ram Capital Funding, and Viceroy Capital Funding, and...more
On February 7, a coalition of 19 state attorneys general (AG) filed a comment letter supporting the Federal Trade Commission’s (FTC) proposed Trade Regulation Rule on Unfair or Deceptive Fees (Rule). The state AGs echoed the...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
2/13/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptoassets ,
Debt Relief ,
Department of Financial Protection and Innovation (DFPI) ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Loan Forgiveness ,
Securities and Exchange Commission (SEC) ,
Student Loans
On January 26, a Massachusetts Superior Court rejected an effort by the Massachusetts Attorney General (AG) to vacate an order that cast doubt on the constitutionality of a new Massachusetts liquor law....more
Pennsylvania Attorney General (AG) Michelle Henry reached a settlement with attorney Erik Helbing and his business, Helbing Law Group, LLC, resolving allegations of deceptive advertising practices and failure to effectively...more
2/8/2024
/ Consumer Protection Laws ,
Debt Settlement Services ,
Enforcement Actions ,
False Advertising ,
Pennsylvania ,
Settlement ,
State and Local Government ,
State Attorneys General ,
Statutory Violations ,
Telemarketing Sales Rule ,
Unfair or Deceptive Trade Practices
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
2/7/2024
/ California Consumer Privacy Act (CCPA) ,
Congressional Review Act ,
Consumer Financial Products ,
Consumer Lenders ,
Cryptocurrency ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FTC Act ,
OCC ,
Securities and Exchange Commission (SEC) ,
TCPA ,
Telemarketing
Troutman Pepper’s 2023 Privacy Year in Review is a comprehensive analysis of the year’s key developments in privacy, security, and artificial intelligence and offers practical advice for companies navigating the bewildering...more
Michigan Attorney General (AG) Dana Nessel filed a lawsuit seeking injunctive relief and dissolution of several limited liability companies owned by John and Michele Church. The Churches’ companies have allegedly violated the...more
2/1/2024
/ Consumer Complaint Management ,
Consumer Contracts ,
Consumer Protection Act ,
Consumer Review Fairness Act (CRFA) ,
Dissolution ,
Goods or Services ,
Injunctive Relief ,
Limited Liability Company (LLC) ,
State Attorneys General ,
Statutory Violations ,
Unfair or Deceptive Trade Practices ,
Voluntary Compliance
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/1/2024
/ Automotive Loans ,
Banks ,
Class Action ,
Consumer Bankruptcy ,
Consumer Financial Products ,
Debt Collection ,
Digital Assets ,
Fair Lending ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Student Loans ,
Tribal Loans ,
Uniform Commercial Code (UCC)
Vermont Attorney General (AG) Charity Clark recently announced the resolution of an investigation into the withholding of security deposits across five motels that were participating in the state’s Transitional Housing...more
2/1/2024
/ Coronavirus/COVID-19 ,
Department of Children and Families (DCF) ,
Emergency Management Plans ,
Injunctive Relief ,
Relief Measures ,
Security Deposits ,
Settlement ,
State and Local Government ,
State Attorneys General ,
Transitional Arrangements ,
Unfair or Deceptive Trade Practices ,
Vermont
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
1/31/2024
/ Artificial Intelligence ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptoassets ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OCC ,
Regulatory Agenda
On January 23, the U.S. Court of Appeals for the Second Circuit affirmed a district court ruling that Martin Shkreli, CEO of Vyera Pharmaceuticals (Vyera), violated federal and state laws by engaging in illegal and...more
1/31/2024
/ Anti-Competitive ,
Drug Pricing ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Healthcare ,
Martin Shkreli ,
Monopolization ,
Pharmaceutical Industry ,
Prescription Drugs ,
Regulatory Oversight ,
State Attorneys General
On January 11, Massachusetts Attorney General (AG) Andrea Joy Campbell announced a $1.8 million settlement with Nelnet, Inc. (Nelnet), one of the largest federal student loan servicers in the U.S., for allegedly sending...more
State attorneys general (AGs) continue their role as innovators, shaping the regulatory environment by utilizing their expertise and resources to influence policy and practice. The public-facing nature of the AGs' office...more
On January 12, Massachusetts Attorney General (AG) Andrea Joy Campbell announced a settlement with Grubhub Holdings Inc. and Grubhub, Inc., (Grubhub) for repeatedly violating a statutory limit on the fees that third-party...more
1/25/2024
/ Coronavirus/COVID-19 ,
Delivery Drivers ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Fees ,
GrubHub ,
Hidden Fees ,
Price Gouging ,
Proposed Rules ,
Regulatory Oversight ,
Settlement ,
State Attorneys General ,
Summary Judgment
North Carolina Attorney General (AG) Josh Stein led a bipartisan effort urging the federal government to impose stricter regulations on the use of artificial intelligence (AI) in telemarketing. The collective push involved 26...more
1/25/2024
/ Artificial Intelligence ,
FCC ,
Machine Learning ,
Notice of Inquiry ,
Regulatory Agenda ,
Regulatory Oversight ,
Robocalling ,
State Attorneys General ,
TCPA ,
Telemarketing ,
Text Messages ,
Written Consent
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
1/24/2024
/ Bank Secrecy Act ,
Buy Now Pay Later (BNPL) ,
Cease and Desist Orders ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Digital Assets ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Misleading Statements ,
Regulatory Agenda ,
U.S. Treasury
On January 15, Washington Attorney General (AG) Bob Ferguson filed a complaint in King County Superior Court, seeking to block the merger of The Kroger Co. (Kroger) with its supermarket competitor, Albertsons Companies, Inc....more
1/24/2024
/ Anti-Competitive ,
Anti-Monopoly ,
Antitrust Provisions ,
Blocked Mergers ,
Competition ,
Federal Trade Commission (FTC) ,
Injunctions ,
Kroger ,
Merger Controls ,
Monopolization ,
Permanent Injunctions ,
Regulatory Agenda ,
State and Local Government ,
State Attorneys General ,
Supermarkets ,
Washington
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
1/18/2024
/ Broker-Dealer ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Reporting Agencies ,
Cryptoassets ,
Digital Assets ,
Do Not Call List ,
Due Diligence ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FTC Act ,
OCC ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
Washington Attorney General (AG) Bob Ferguson announced that he has proposed legislation — H.B. 2072/S.B. 5994 — to enhance the state’s maximum penalty for antitrust violations like price fixing and collusion....more
The marijuana industry has seen exponential growth over the past few years. However, the federal prohibition of marijuana poses significant challenges for businesses in this sector, in terms of payment processing and banking....more
1/11/2024
/ Agribusiness ,
Controlled Substances ,
Cryptocurrency ,
Dispensaries ,
Financial Services Industry ,
FinTech ,
Internal Revenue Code (IRC) ,
IRS ,
Marijuana ,
Marijuana Related Businesses ,
Tax Code