News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Telemarketing Sales Rule

Orrick, Herrington & Sutcliffe LLP

District court sides with CFPB and disgorges relief defendant’s funds

On July 31, a magistrate judge for the U.S. District Court for the Western District of New York recommended denying a relief defendant’s motion to dismiss a complaint filed by the CFPB and several state attorneys general...more

Orrick, Herrington & Sutcliffe LLP

District court approves CFPB’s $43M penalty against company owner

On May 1, the U.S. District Court for the Northern District of Illinois approved the CFPB’s request for restitution and a civil monetary penalty against a defendant for violations of the CFPA and the Telemarketing Sales Rule....more

Sheppard Mullin Richter & Hampton LLP

FTC Granted Injunction in Small Business Lending Case 

The CFPB has recently dismissed two more enforcement actions—one against a major credit reporting agency and another against a lease-to-own financing provider. Both lawsuits involved allegations of abusive, unfair, and...more

Troutman Pepper Locke

2024 Payments Year in Review: CFPB and FTC Regulatory Trends - Part Three — Payments Pros – The Payments Law Podcast

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In the third installment of the four-part "Payments Year in Review" series, hosts Keith Barnett, Josh McBeain, and Carlin McCrory discuss the Federal Trade Commission's (FTC) actions in 2024 and their expectations for 2025. ...more

DLA Piper

Digital Transformation: eSignature and ePayment News and Trends - November/December 2024

DLA Piper on

Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more

Wiley Rein LLP

Wiley Consumer Protection Download (December 17, 2024)

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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

Ballard Spahr LLP

CFPB takes action to ban Student Loan Pro from offering consumer financial products

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The CFPB has taken action to permanently ban Student Loan Pro and its owner, Judith Noh, from offering consumer financial products or services....more

Goodwin

CFPB Permanently Bans Student Loan Servicer

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On December 4, 2024, the CFPB announced that it entered into a proposed stip​​ulated judgment with a student loan servicer and its owner, resolving allegations that the student loan servicer violated the Telemarketing Sales...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 3, 2024)

Wiley Rein LLP on

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

Troutman Pepper Locke

CFPB and Massachusetts AG Win $50M Judgment Against Credit Repair Services Company

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A federal district judge in Massachusetts entered a nearly $51 million judgment against Commonwealth Equity Group LLC (d/b/a Key Credit Repair) and its CEO after granting summary judgment in favor of the Consumer Financial...more

Cozen O'Connor

The State AG Report – 10.24.2024

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG Task Force Issues Warning over Illegal Robocalls - ...more

Troutman Pepper Locke

Massachusetts Federal Court Orders Key Credit Repair to Pay $50M for Misleading Claims and Advance Fees

Troutman Pepper Locke on

The U.S. District Court for the District of Massachusetts recently denied a credit repair organization’s motion for partial summary judgment and granted the Consumer Financial Protection Bureau (CFPB or Bureau) and the...more

Sheppard Mullin Richter & Hampton LLP

Credit Repair Company Fined $50M for Misleading Consumers

On September 30, a credit repair service provider and its owner were ordered to pay $31 million in consumer redress, and a $19 million civil money penalty, when a Massachusetts federal court granted summary judgment for the...more

Ballard Spahr LLP

CFPB, Credit Repair Cloud Reach Deal Over Illegal Marketing Allegations

Ballard Spahr LLP on

The CFPB and Credit Repair Cloud, have reached agreement over allegations that the firm helped other credit repair businesses charge illegal fees to consumers....more

Orrick, Herrington & Sutcliffe LLP

CFPB proposes $3M fine in settlement with credit repair software company and CEO

On August 8, the CFPB proposed a stipulated final judgment and order to the U.S. District Court for the Central District of California against a credit repair software company. If approved by the District Court, this order...more

Cozen O'Connor

Illegal Advance Fees a Dark Cloud Over Credit Repair Company

Cozen O'Connor on

The CFPB has entered into a proposed stipulated final judgment and order with Daniel A. Rosen Inc., d/b/a Credit Repair Cloud and its owner (collectively, “CRC”) to resolve allegations that CRC violated the Telemarketing...more

Sheppard Mullin Richter & Hampton LLP

CFPB Settles Action against Third-Party Service Provider Supporting Credit Repair Industry

On August 8, the CFPB filed a proposed order to resolve its 2021 lawsuit (previously discussed here) against a California-based software company and its CEO for their role in helping credit repair businesses charge illegal...more

Orrick, Herrington & Sutcliffe LLP

CFPB orders debt relief servicer to pay $400,000 for charging advanced fees

On May 20, the CFPB released its consent order and stipulation against a debt relief provider for alleged deceptive acts and practices in violation of the CFPA and for alleged deceptive telemarketing practices and collection...more

Goodwin

CFPB Enters Consent Order Over Student Loan Debt Relief Services

Goodwin on

​​​​​​​On May 20, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based telemarketer that offered student loan debt relief services resolving...more

Hudson Cook, LLP

CFPB Issues Order Against Student Loan Debt Relief Telemarketer

Hudson Cook, LLP on

On May 20, 2024, the CFPB announced a settlement with a telemarketing company that offers student loan debt relief services to resolve allegations that it violated the Telemarketing Sales Rule ("TSR") and the Consumer...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 14, 2024)

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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

Wiley Rein LLP

Wiley Consumer Protection Download (April 2, 2024)

Wiley Rein LLP on

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

Wiley Rein LLP

Wiley Consumer Protection Download (March 12, 2024)

Wiley Rein LLP on

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

Wiley Rein LLP

Wiley Consumer Protection Download (February 27, 2024)

Wiley Rein LLP on

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

Goodwin

2023 Year in Review: Debt Collection and Debt Settlement

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Welcome to the Debt Collection and Debt Settlement chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Enforcement actions related to debt collection and debt...more

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