On October 11, 2022, the North Carolina Attorney General’s Office (NC AG) announced that it had entered into a consent order with certain Texas-based debt collection companies, resolving allegations that those...more
[co-authors: Amelie Hopkins, and Collin Grier]
The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more
2/23/2022
/ AMG Capital Management LLC v FTC ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Collins v Yellin ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
Credit Reporting Agencies ,
Credit Reports ,
Creditors ,
Debit and Credit Card Transactions ,
Debt Collection ,
Debtors ,
Dodd-Frank ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loan Servicing ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Payday Loans ,
Prepaid Payment Products ,
SCOTUS ,
Settlement ,
Small Dollar Lenders ,
Student Loans ,
TCPA ,
TransUnion LLC v Ramirez
On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade...more
On November 12, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint in the United States District Court for the Northern District of Texas against two pawnshop lenders, alleging...more
11/15/2021
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
Financial Services Industry ,
Interest Rates ,
Mandatory Arbitration Clauses ,
Military Lending Act ,
Military Service Members ,
Statutory Violations
On September 22, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it issued its first enforcement action against a debt collection company for various practices,...more
9/27/2021
/ California Consumer Financial Protection Law (CCFPL) ,
Consumer Credit Reporting Agencies Act (CCRAA) ,
Corporate Fines ,
Credit Reporting Agencies ,
Credit Reports ,
Debt Collectors ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
FDCPA ,
License Applications ,
Licensing Rules
On September 20, 2021, the Department of Justice (DOJ) announced that it reached a settlement with the New Jersey Higher Education Student Assistance Authority (HESAA), resolving allegations that the state...more
On September 20, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in the U.S. District Court of the Central District of California against a California-based software company and its...more
On April 27, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a reverse mortgage broker and lender, resolving allegations that the company violated the Mortgages...more
On April 26, 2021, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a settlement agreement with an online coding school, resolving allegations that the school engaged...more
On March 4, 2021, Virginia’s Attorney General (AG) announced that it had reached a settlement with an open-end credit lender, resolving allegations that the lender violated the state’s consumer finance statutes.
The AG...more
On March 3, Virginia’s Attorney General announced that the state reached a settlement with a student debt relief company for alleged Virginia Consumer Protection Act (VCPA) violations. The simultaneously filed complaint...more
In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more
11/12/2020
/ Banking Sector ,
Banks ,
Blockchain ,
Board of Directors ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Debt Settlement Services ,
Disclosure ,
Diversity ,
Enforcement Actions ,
FDCPA ,
FDIC ,
Federal Bank Regulatory Agencies ,
Federal Reserve ,
Final Rules ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinCEN ,
Geographic Targeting Order ,
Interest Rates ,
Joint Statements ,
Libor ,
Loans ,
New Guidance ,
New Rules ,
No-Action Letters ,
OCC ,
Payday Loans ,
PayPal ,
Publicly-Traded Companies ,
Real Estate Transactions ,
Shareholders ,
Small Dollar Lenders ,
Student Loans ,
Telemarketing Sales Rule ,
Title Insurance
On November 5, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had filed a complaint against a Florida-based payday lender and its CEO in the Southern District of Florida. The complaint alleges that...more
11/10/2020
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
FDIC ,
Gig Economy ,
Independent Contractors ,
Interest Rates ,
Lyft ,
Payday Loans ,
Uber ,
Unfair or Deceptive Trade Practices ,
Usury
On November 5, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it had filed a complaint against a California student loan debt settlement company and the company’s CEO in the U.S. District Court for the...more
In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
11/5/2020
/ Banking Sector ,
Capital Formation ,
Climate Change ,
Confidential Information ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Financial Services ,
Department of Labor (DOL) ,
Derivatives ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
FDCPA ,
FDIC ,
Federal Reserve ,
Fiduciary ,
Fiduciary Duty ,
Final Rules ,
Financial Institutions ,
Financial Records ,
Financial Regulatory Agencies ,
Financial Regulatory Reform ,
Financial Services Industry ,
Initial Public Offering (IPO) ,
Investment Companies ,
Investment Funds ,
Investment Opportunities ,
Investors ,
Lenders ,
Main Street Lending Programs ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Offerings ,
Proposed Rules ,
Public Comment ,
Registered Funds ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Small Business Loans ,
UDAAP