Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Launching a Product Too Soon? Lessons From Recent CFPB Orders — The Consumer Finance Podcast
Navigating CFPB Enforcement: Key Takeaways From the Global Tel Link Consent Order — Payments Pros – The Payments Law Podcast
Will Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent Orders — The Crypto Exchange Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
A debt collector company, Blackstone Legal, its associated companies and its owners, Ryan and Mitchell Evans, are facing a permanent ban from the debt collection business as a result of an FTC lawsuit charging that they...more
Alleging that Global Circulation, Inc. (GCI) threatened consumers with jail time, lawsuits, and wage garnishments to pressure them into paying debts they did not owe, the FTC entered into a stipulated order with GCI and its...more
On January 30, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an international remittance company regarding the company’s use of deceptive advertising for fee...more
Securities and Exchange Commission. Cryptocurrency regulation. On April 23, 2024, two groups representing the cryptocurrency industry sued SEC over its expanded dealer definition announced earlier this year. The Blockchain...more
Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more
The Federal Trade Commission (FTC) continues to evidence a strong commitment to bringing enforcement actions against false or deceptive US-origin marketing claims. In short, to avoid landing on the wrong side of such an...more
On December 27, 2022, New Jersey's Attorney General and Office of Consumer Protection and Yellowstone Capital, LLC and several other associate companies signed a consent order to resolve a lawsuit that alleged violations of...more
On January 4, 2023, the New York State Department of Financial Services issued a consent order against Coinbase, a virtual currency company. Pursuant to the consent order, Coinbase will be paying a $50 million penalty to the...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
On July 12, 2021, the Consumer Financial Protection Bureau (CFPB) issued a consent order (the Consent Order) against a Fintech company that facilitates home improvement loans (the Fintech). The CFPB claims that the Fintech...more
After an eight-day trial, a federal jury convicted four California residents for their scheme to submit fraudulent loan applications seeking millions of dollars in the Paycheck Protection Program (PPP) and Economic Injury...more
The House Select Subcommittee on the Coronavirus Crisis continues its investigation into PPP fraud. On May 27, the Select Subcommittee turned its focus to FinTech firms and partner banks implicated in Department of Justice...more
On April 1, 2021, the Texas State Securities Board (TSSB) announced the entry of a Consent Order against an SEC registered investment adviser named Independent Financial Group, LLC (“Independent”). The TSSB’s action may...more
The Commodity Futures Trading Commission (“CFTC”) recently announced the settlement of its first enforcement action involving foreign corruption. In December 2020, the CFTC issued a Consent Order, finding that Houston-based...more
Investment Bank Fined $400 Million For Failing to Remediate Deficiencies in its Risk Management Systems - On October 7, the Federal Reserve Board and Office of the Comptroller of the Currency issued a consent order...more
This survey summarizes several recent developments affecting bank deposits and payment systems. These include payments-related consent orders and enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) and...more
On Monday, the trustee of the Woodbridge Liquidation Trust filed a lawsuit against numerous law firms and lawyers. The trustee's lawsuit relates to the reportedly $1.3 billion Ponzi scheme allegedly orchestrated by Robert H....more
Seyfarth Synopsis: FTC publishes proposed consent order with cosmetic company that posted fake customer reviews but some FTC commissioners place doubt on its effectiveness because there is no financial penalty....more
California physician Donald Woo Lee was found guilty Oct. 17 for his role in providing medically unnecessary procedures to Medicare beneficiaries, upcoding, and repackaging single-use catheters for re-use, the Department of...more
Senators Call For Removal of Dioxane from Cosmetic Products - U.S. Sens. Chuck Schumer (DN. Y.) and Kirsten Gillibrand (DN. Y.) have petitioned the Food and Drug Administration to prohibit detectable levels of 1,4dioxane...more
In the recent decision of Alberta Motor Association v. Gladden, 2017 ABQB 174, the Alberta Court of Queen’s Bench clarified the limits to which employer-sponsored pension benefits will be immunized from enforcement...more
DeLorme Seeks Certiorari Review Of Consent Order Penalty Based On Expired Patent — On July 13, 2016, DBN Holding, Inc. and BDN LLC (“DeLorme”) filed a petition for writ of certiorari to review a judgment of the United States...more
The Consumer Financial Protection Bureau’s recent action against two credit card vendors regarding credit monitoring and identity theft protection services is a reminder of the legal risks associated with certain add-on...more
On July 31, 2013, the U.S. Securities and Exchange Commission (SEC) announced that two investment advisers allegedly failed to seek best execution on client trades placed with their in-house brokerage divisions and misled...more