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Consumer Financial Products › UDAP › Unfair or Deceptive Trade Practices

Ballard Spahr LLP

FTC takes action against Accelerated Debt for running a debt relief scam

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An ex parte temporary restraining order has been issued against the participants in a debt relief services scheme that allegedly targeted seniors, including veterans, using a variety of deceptive practices, including falsely...more

WilmerHale

New York Governor Hochul Seeks to Strengthen and Expand State Consumer Protection Laws

WilmerHale on

In her State of the State address earlier this month, New York Governor Kathy Hochul proposed a significant expansion of New York’s consumer protection laws....more

Ballard Spahr LLP

FTC requests comment on consumer advocate petition regarding auto “yo-yo financing”

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On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more

Ballard Spahr LLP

Pending New York bills would significantly expand UDAP liability and persons entitled to sue

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Two companion bills titled the “Consumer and Small Business Protection Act” have been introduced in the New York legislature would make sweeping changes to the provisions of the state’s general business law (Section 349)...more

Orrick, Herrington & Sutcliffe LLP

District Court allows FTC suit against owners of credit repair operation to proceed

Orrick, Herrington & Sutcliffe LLP on

On February 13, the U.S. District Court for the Eastern District of Michigan denied a motion to dismiss filed by certain defendants in a credit repair scheme....more

Sheppard Mullin Richter & Hampton LLP

FTC Targets Credit Services Company For False “Pre-Approved” Credit Offers

Sheppard Mullin Richter & Hampton LLP on

On September 1, the FTC issued an administrative complaint and consent order alleging that a credit services company harmed consumers by making false claims of “pre-approved” credit offers, enticing many consumers to apply...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

Troutman Pepper Locke

FTC Investigates Small Business Financing Based On Expansive View Of UDAP Authority

Troutman Pepper Locke on

On May 23, the FTC launched an investigation into potentially unfair or deceptive practices in the small business financing industry, including by merchant cash advance providers. Although the launch of the investigation was...more

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