News & Analysis as of

Consumer Lenders Unfair or Deceptive Trade Practices Fair Credit Reporting Act (FCRA)

Sheppard Mullin Richter & Hampton LLP

CFPB Drops Two More Major Lawsuits 

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

Venable LLP

A Primer on State Consumer Financial Regulation: What Businesses Need to Know Now

Venable LLP on

The landscape of consumer financial services is shifting, driven by a broader deregulatory trend at the federal level. In this environment, companies must still address federal consumer financial law compliance and navigate a...more

Orrick, Herrington & Sutcliffe LLP

CFPB voluntarily dismisses enforcement action with prejudice

On February 21, the CFPB voluntarily dismissed its case against an online lending platform, ending a suit filed in May 2024. As previously covered by InfoBytes, the CFPB sued the platform last spring, alleging it violated the...more

Hudson Cook, LLP

CFPB Brings Lawsuit Against FinTech Company for its Alleged Deceptive Practices and for Allegedly Misrepresenting the Costs of its...

Hudson Cook, LLP on

On May 17, 2024, the CFPB filed a lawsuit in the U.S. District Court for the Central District of California against a financial technology company for violations of the CFPA and FCRA....more

Troutman Pepper Locke

CFPB’s Spring Edition of Its Supervisory Highlights Focuses on Consumer Reporting

Troutman Pepper Locke on

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released the spring edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or practices...more

Troutman Pepper Locke

9 Consumer Finance Issues to Note From CFPB Report

Troutman Pepper Locke on

In July, the Consumer Financial Protection Bureau published a report highlighting various unfair, deceptive, and abusive acts or practices it claims to have uncovered during its supervisory examinations from July 2022 to...more

Hudson Cook, LLP

Lessons Learned from Dun & Bradstreet

Hudson Cook, LLP on

In January 2022, The Federal Trade Commission ("FTC") reached a settlement with Dun & Bradstreet resolving alleged violations of the Federal Trade Commission Act ("FTC Act"), 15 U.S.C. §§ 41, et seq., arising out of the...more

White & Case LLP

Consumer financial services: The road ahead: Auto finance

White & Case LLP on

In 2018, the CFPB continued to pay attention to the auto finance industry, with a particular focus on indirect (dealer-arranged) auto lenders and unfair or abusive loan servicing practices....more

Ballard Spahr LLP

FTC Announces Settlement with Auto Loan Servicer for Alleged Violations of FCRA Furnisher Rule

Ballard Spahr LLP on

The Federal Trade Commission (FTC) recently announced a settlement with a company that services auto loans for alleged violations of the Fair Credit Reporting Act (FCRA) “Furnisher Rule.” The settlement serves as a reminder...more

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