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Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
On August 21, the CFPB filed an adversary proceeding complaint with the U.S. Bankruptcy Court for the Central District of California against a debtor fintech company, along with a proposed stipulated final judgment and order,...more
On May 30, 2023, the Federal Trade Commission (FTC) announced that it had finalized a consent order with one of the nation’s largest credit and debit card providers in an administrative action regarding alleged...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
This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more
On March 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) entered into a consent order with Dwolla, Inc. (“Dwolla”) that penalized the company for engaging in deceptive acts related to the company’s data security...more
Yesterday's Consumer Financial Protection Bureau's (CFPB) Consent Order against Dwolla, Inc., a company that operates an online payment system, is yet more evidence of the murky world of Unfair, Deceptive, or Abusive Acts or...more