News & Analysis as of

Advertising Financial Services Industry Unfair or Deceptive Trade Practices

A&O Shearman

UK FCA urges CMCs to review financial promotions regarding motor finance claims

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The UK Financial Conduct Authority (FCA) has published a letter dated 31 July, addressed to claims management companies (CMCs) involved with motor finance claims, urging them to review their financial promotions to ensure...more

Davis Wright Tremaine LLP

Stay ADvised: 2025, Issue 2

"Seek" and You Shall Find … That the FTC Is Closely Watching Potentially Deceptive Claims Designed To Entice Small Businesses - The FTC alleges that a company marketing itself as a leading provider of startup business...more

Goodwin

FTC Files Suit Against Online Cash Advance Provider for Allegedly Deceptive and Misleading Conduct

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On November 5, 2024, the FTC announced​ that it had filed suit against a California-based online cash advance provider for allegedly deceptive and misleading advertisements and representations, in violation of the FTC Act, 15...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The Federal Trade Commission: Looking Back at 2023 and Looking Ahead to 2024 and Beyond

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Our special guest is Malini Mithal, Associate Director of the FTC’s Division of Financial Practices. In this episode, which repurposes a recent webinar, we review highlights of FTC regulatory and enforcement activity in 2023...more

Venable LLP

Lead Generation: An Excerpt from the Advertising Law Tool Kit

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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

Ballard Spahr LLP

Auto dealer trade groups challenge FTC CARS Rule in Fifth Circuit

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On January 5, 2024, two trade groups representing auto dealers filed a petition for review challenging the Federal Trade Commission’s (“FTC”) new Combating Auto Retail Scams Rule (“CARS Rule”). In the petition, the National...more

Morgan Lewis

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

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The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more

Sheppard Mullin Richter & Hampton LLP

CFPB Sues Lease-to-Own Finance Company for Allegedly Deceiving Consumers

On July 19, the CPFB filed a complaint against a lease-to-own finance company, alleging that the company has offered and provided millions of “lease-purchase” and “rental-purchase” financing agreements in ways that have...more

Orrick, Herrington & Sutcliffe LLP

California imposes CLRA advertising requirements

Covered entities in California are reminded that Section 1770 of the Consumer Legal Remedies Act requires persons offering or providing a consumer financial service or product to include certain language when making...more

Venable LLP

CFPB Warning to Consumer Financial Services Digital Marketing Providers

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​​​​​​​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

Cadwalader, Wickersham & Taft LLP

Protecting Depositors by Enforcing Proper Advertising of FDIC Insurance

During an open session of the Federal Deposit Insurance Corporation (“FDIC”) this week, the Board of Directors voted to finalize a new regulation that will give the FDIC, and the public, better tools to ensure that deposits...more

Venable LLP

“Are You Guys Into Crypto????”: Celebrities Promoting Cryptocurrencies Become Class Action Targets

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A class action lawsuit filed against Kim Kardashian, Floyd Mayweather, and former professional basketball player Paul Pierce earlier this month underscores the need for celebrity endorsers to take care when they approach any...more

Ballard Spahr LLP

Federal Reserve warns about redlining and steering risks from digital targeted advertising

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One of the most important areas of consumer financial regulation today is the use of internet- or social media-based platforms to target advertising for consumer financial products. ...more

Hogan Lovells

New York legislature moves to impose new requirements on reverse mortgage industry

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Originators and servicers of HECMs who do business in New York should take action now to prepare to comply with the new bill’s requirements. Ensuring compliance may require a thorough review of commercial advertisements and...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Walmart’s broader foray into the grocery biz—letting customers order online and pick up in person and expanding home delivery—is paying dividends for the retailer and helping push its revenue up 3.8% from this period a year...more

Troutman Pepper Locke

New FTC Lawsuit Against Lending Club Provides Helpful Insights

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On April 25, the FTC filed a complaint against Lending Club in the district court for the Northern District of California. The complaint alleges that Lending Club’s online advertising “lures prospective borrowers by promising...more

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