Banking Sector, Fees, Federal Trade Commission (FTC)

FDIC fines bank $650K for alleged unfair and deceptive acts

Orrick, Herrington & Sutcliffe LLP on 2/12/2025

On January 31, the FDIC publicly announced its order for a bank in Sandy, Utah, to pay a civil money penalty of $650,000 due to allegations of deceptive acts and unfair practices. ...more

Payments Docket – December 2024

Alston & Bird on 12/20/2024

The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features why the CFPB’s open banking rule is under fire, a convenience fee that steals your lunch...more

CFPB Bites of the Month - March 2024 - Here Comes the Sun and the CFPB

Hudson Cook, LLP on 4/1/2024

In this month's article, we share some of our top "bites" covered during the March 2024 webinar. Bite 10: CFPB Issues Statement on Privacy and Personal Data - On February 28, 2024, the CFPB issued a statement on...more

All Consuming - Financial Litigation Insights, V 4, Issue 1, June 2023

Spilman Thomas & Battle, PLLC on 6/12/2023

CFPB - Regulators Take Aim at AI to Protect Consumers and Workers - “In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more

White House, CFPB and FTC Continue Down Path to Eliminate “Junk Fees”

Brownstein Hyatt Farber Schreck on 11/8/2022

In late October, the Consumer Financial Protection Bureau (CFPB), in conjunction with the White House, announced more actions in regard to limiting what they have collectively negatively labeled as “junk fees” as well as...more

Fintech Legal Report - November 2022

Perkins Coie on 11/4/2022

FTC Action Against Internet Phone Service Provider Results in $100 Million to Customers Trapped by Illegal Dark Patterns and Junk Fees When Trying To Cancel Service - On November 3, 2022, the Federal Trade Commission (FTC)...more