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Consumer Financial Products › Consumer Fraud

Kelley Drye & Warren LLP

NY AG Zeroes in on Zelle with Lawsuit

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Last week, New York Attorney General Letitia James announced a lawsuit against Early Warning Services LLC (EWS), the parent company of digital payment network Zelle. AG James asserts that Zelle was designed ​“without critical...more

Orrick, Herrington & Sutcliffe LLP

California attorney general shuts down alleged cryptocurrency scams

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On March 10, California Attorney General Rob Bonta released news of shutting down 42 allegedly fake cryptocurrency websites in 2024 that scammed victims out of at least $6.5 million. The scams supposedly issued an average...more

Orrick, Herrington & Sutcliffe LLP

FTC secures preliminary injunction in small business finance scheme case

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On March 4, the FTC announced updates in its case against targeting an alleged small business finance scheme. The U.S. Court for the Central District of California recently granted the FTC’s motion for a preliminary...more

Carlton Fields

The Mystery Continues: IUL Proprietary Indices Challenged in RICO Suit

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Since the enactment of the Racketeer Influenced and Corrupt Organizations (RICO) Act, it has been invoked in civil litigation with mixed results. Congress did not intend for RICO to become a surrogate for plaintiffs’ state...more

Ballard Spahr LLP

Democratic Senators continue to pressure Zelle and other payment apps to change fraud policies

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On February 15, 2024, Senators Sherrod Brown (D-OH), Jack Reed (D-RI) and Elizabeth Warren (D-MA) sent a letter to Zelle seeking clarification of its reimbursement policy for victims of imposter scams and urging Zelle to...more

Troutman Pepper Locke

More Privacy, Please – January 2024

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NIST Publishes Report on the Cybersecurity of Genomic Data. On December 20, 2023, the NIST National Cybersecurity Center of Excellence (NCCoE) published Final NIST IR 8432, Cybersecurity of Genomic Data. Informed by direction...more

Goodwin

NJ Attorney General Sues National Student Loan Servicer For Deceptive Practices

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On October 20, 2020, New Jersey Attorney General Gurbir S. Grewal (“NJ AG”) and the New Jersey Division of Consumer Affairs announced that they had filed suit in New Jersey state court against a national student loan servicer...more

Mayer Brown

Seventh Circuit Agrees With Mayer Brown Amicus Brief That $3 Million Punitive Damages Award Was Unconstitutionally Excessive

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Last summer, my colleague C.J. Summers and I posted a report about Saccameno v. U.S. Bank National Association, a Seventh Circuit case in which we had filed an amicus brief on behalf of the Chamber of Commerce of the United...more

Moore & Van Allen PLLC

Task Force on Market Integrity and Consumer Fraud

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On July 11, 2018, pursuant to a Presidential Executive Order, the Department of Justice announced the formation of a new multi-agency task force on Market Integrity and Consumer Fraud that will focus on combating consumer and...more

Ballard Spahr LLP

DOJ Announces New Task Force on Market Integrity and Consumer Fraud

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The U.S. Department of Justice (DOJ) earlier this week announced that it was disbanding the Financial Fraud Enforcement Task Force, established under the Obama Administration. ...more

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