News & Analysis as of

Credit Reporting Agencies Unfair or Deceptive Trade Practices

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses credit reporting enforcement action voluntarily

On February 28, the CFPB filed a joint stipulation of voluntary dismissal with prejudice in the U.S. District Court for the Northern District of Illinois, ending an enforcement action against a credit reporting agency, two...more

Orrick, Herrington & Sutcliffe LLP

CFPB fines credit reporting agency $15M for alleged violations

On January 17, the CFPB issued a consent order settling allegations that a consumer reporting agency (CRA) violated the FCRA and engaged in unfair acts and practices, violating the CFPA. The CFPB imposed a $15 million civil...more

Orrick, Herrington & Sutcliffe LLP

CFPB files complaint against CRA, alleging faulty dispute resolution procedures

On January 7, the CFPB filed a complaint against a consumer reporting agency, alleging violations of the FCRA and the CFPA’s prohibition on unfair acts or practices. The complaint alleges the company failed meet its...more

Ballard Spahr LLP

CFPB alleges dark patterns in suit against fintech peer-to-peer lender

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On May 17, 2024, the Consumer Financial Protection Bureau (“CFPB”) filed suit against an online lending platform, alleging, among other things, the use of dark patterns to induce consumers to pay tips and donations,...more

Hinshaw & Culbertson - Consumer Crossroads

New York City Department of Consumer and Worker Protection Issues Proposed Amendments to its Rules Relating to Debt Collectors

In September, the New York City Department of Consumer and Worker Protection (DCWP) requested comment on proposed amendments to its rules relating to debt collectors, which could significantly change the requirements and...more

Venable LLP

Payment Processors: Are You Prepared to Uncover "Dark Patterns"?

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Risk management personnel who underwrite e-commerce merchants should have some basic understanding of the types of online merchant marketing and sales practices that are deceptive and misleading....more

Wilson Sonsini Goodrich & Rosati

Consumer Financial Protection Bureau Alleges Dark Patterns in Advertising of Financial Products; Files Suit Against TransUnion and...

On April 12, 2022, the U.S. Consumer Financial Protection Bureau (CFPB) filed a lawsuit against TransUnion, two of its subsidiaries, and former TransUnion executive John Danaher in his individual capacity for violating an...more

Goodwin

CFPB Sues TransUnion and Senior Executive for Violating Law Enforcement Order Prohibiting Deceptive Marketing

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On April 12, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in federal court against TransUnion, two of its subsidiaries, and its longtime executive for failing to implement...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 18, 2022)

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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

Cadwalader, Wickersham & Taft LLP

Sending a Message: The CFPB's Charges Against TransUnion

For months, Director Rohit Chopra warned that the Consumer Financial Protection Bureau (the “Bureau”) would sharpen its focus on repeat offenders. On April 12, 2022, the Bureau demonstrated its resolve, announcing charges...more

Burr & Forman

Seventh Circuit Affirms Dismissal of FDCPA and FCRA Claims Arising from Identity Theft

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In Woods v. LVNV Funding, LLC, — F. 4th — (2022), the Seventh Circuit Court of Appeals affirmed the dismissal of FDCPA and FCRA claims based upon the defendants’ collection and reporting of a fraudulently opened account....more

Wiley Rein LLP

Wiley Consumer Protection Download (January 24, 2022)

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

Cozen O'Connor

Dun & Bradstreet Agrees to Refund Consumers and Reform Its Marketing and Credit Report Correction Practices

Cozen O'Connor on

The FTC reached a settlement with business credit reports provider Dun & Bradstreet, Inc. to resolve allegations that D&B used deceptive and unfair practices to sell its products to small and mid-sized businesses...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – May 2021

Consumer Law Hinsights is a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies. SCOTUS Finds FTC Cannot Award Restitution or...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights - March 2021

Consumer Law Hinsights is a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies. In this edition, we are also highlighting popular posts...more

Goodwin

Massachusetts AG Announces Settlement with Debt Buyer for Alleged Abusive Debt Collection Practices

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On November 11, 2019, the Massachusetts Attorney General’s Office (AG) announced that it had settled an investigation against a national debt buyer and collector for alleged violations of Massachusetts’ consumer protection...more

Moore & Van Allen PLLC

North Carolina Amendments to Data Breach Law Finally Introduced

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On April 16, 2019, Representatives Saine, Jones and Reives introduced House Bill 904, the long anticipated amendments to the North Carolina Identity Theft Protection Act, N.C. Gen. Stat. § 75-61 et seq.. We first wrote about...more

Womble Bond Dickinson

Removing State Law Claims to Federal Court: When FCRA Claims Lurk In The Background

Womble Bond Dickinson on

The District Court for the Northern District of New York handed down an unusual decision. The district court found that it had federal question jurisdiction even though the Plaintiff only asserted one claim in his Complaint:...more

Ballard Spahr LLP

State and Local Governments Move Swiftly to Sue Equifax.

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The cities of Chicago and San Francisco and the Massachusetts Attorney General have filed the first enforcement actions against Equifax following the announcement of a data breach affecting an estimated 143 million consumers....more

Patterson Belknap Webb & Tyler LLP

Equifax: The Empire State Strikes Back

Yesterday, New York Governor Andrew M. Cuomo announced that he has directed the Department of Financial Services (DFS) to issue a new regulation requiring “credit reporting agencies to register with” the DFS, as well as...more

Goodwin

CFPB Issues Consent Order Against Equifax and Transunion for Deceptive Practices

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On January 3, 2017, the Consumer Financial Protection Bureau (CFPB) entered into consent orders with credit reporting agencies Equifax and TransUnion, requiring that they pay a total of over $17.6 million in restitution to...more

Baker Donelson

CFPB Continues Its Focus on Medical Debt

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Last week, the Consumer Financial Protection Bureau (CFPB) announced a consent order with two debt collection law firms specializing in medical debt. This action is similar to prior CFPB enforcement actions taken against debt...more

Sheppard Mullin Richter & Hampton LLP

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

McGuireWoods LLP

CFPB Takes Aim at Overdraft Fees and Screening Inaccuracies

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On February 3, 2016, the Consumer Financial Protection Bureau (CFPB) took a series of steps aimed at improving access to checking accounts for the nearly 10 million American households that are “unbanked” or which have no...more

Baker Donelson

State Attorneys General Bringing Actions Under Dodd-Frank

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As the CFPB celebrates its three-year anniversary, the current trend appears to be lawsuits brought by state attorneys general or state regulators pursuant to their authority under Dodd-Frank Section 1042. Under Section 1042,...more

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