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Cryptocurrency › Consumer Financial Products › Consumer Protection Laws

Orrick, Herrington & Sutcliffe LLP

California attorney general shuts down alleged cryptocurrency scams

Orrick, Herrington & Sutcliffe LLP on

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

Sheppard Mullin Richter & Hampton LLP

California DFPI Reaches Settlement with Lender Over Crypto-Backed Loans

Sheppard Mullin Richter & Hampton LLP on

On December 23, 2024, the California Department of Financial Protection and Innovation (DFPI) announced a consent order with a lender to resolve its investigation into the company’s crypto-backed lending program, which the...more

Sheppard Mullin Richter & Hampton LLP

Crypto Platform Settles SEC and State Regulator Charges over Interest Bearing Feature on Customer Accounts

Sheppard Mullin Richter & Hampton LLP on

On February 7, a Florida-based cryptocurrency company agreed to settle charges brought by the SEC and the California Department of Financial Protection and Innovation alleging that, an interest-earning feature offered on the...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, V 4, Issue 1, June 2023

Spilman Thomas & Battle, PLLC on

CFPB - Regulators Take Aim at AI to Protect Consumers and Workers - “In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2022

Nutter McClennen & Fish LLP on

Federal Banking Agencies Issue CRA Modernization Proposal The federal banking agencies have jointly issued a proposed rule that would modernize their regulations that implement the Community Reinvestment Act (the “CRA”). The...more

Latham & Watkins LLP

New SEC Chairman Gives His First Speech on Crypto

Latham & Watkins LLP on

Gary Gensler asserts the SEC’s broad powers over digital assets, and puts consumer protection at the forefront. On August 3, 2021, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), gave a speech on...more

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