Disclosure Requirements, Financial Services Industry, Regulatory Violations

FINRA Continues to Scrutinize Customer Facing Communications on Crypto Offerings

Troutman Pepper Locke on 7/31/2025

On July 16, TradeStation Securities, Inc., a member firm of the Financial Industry Regulatory Authority (FINRA), submitted a Letter of Acceptance, Waiver, and Consent (AWC) to FINRA’s Department of Enforcement. This AWC...more

California’s DFPI Brings First Enforcement Action Under California’s Digital Financial Assets Law

Troutman Pepper Locke on 7/22/2025

On June 25, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with Coinme, Inc., a cryptocurrency “ATM” operator, for noncompliance with the California’s Consumer Financial...more

CFPB orders remittance transfer provider to pay almost $2.5 million for alleged illegal activities

Ballard Spahr LLP on 2/4/2025

On January 30, 2025, the CFPB ordered Wise, an international remittance company, to pay almost $2.5 million in connection with allegations of illegal activities, including advertising inaccurate fees and failing to properly...more

FINRA Emphasizes the Responsibility of All Dispute Resolution Participants to Avoid Disclosure of Suspicious Activity Reports

Steptoe & Johnson PLLC on 6/3/2024

The Financial Industry Regulatory Authority (FINRA) published guidance* to remind parties, attorneys, arbitrators, and mediators that the unauthorized disclosure of a Suspicious Activity Report (SAR) is a violation of federal...more

Third Circuit: Debt Collector’s “True Name” FDCPA Violation Did Not Violate Other FDCPA Provisions

Ballard Spahr LLP on 8/31/2018

The U.S. Court of Appeals for the Third Circuit has ruled that although the plaintiffs had plausibly alleged facts stating a claim that a debt collector had violated the Fair Debt Collection Practices Act (FDCPA) by not using...more

CFPB enters into consent order with small-dollar lender to settle alleged TILA and UDAAP violations arising from finance charge...

Ballard Spahr LLP on 7/24/2018

The CFPB announced last week that it has entered into a consent order with Triton Management Group, Inc., a small-dollar lender, to settle the CFPB’s allegations that Triton had violated the Truth in Lending Act and the...more

District Court Provides Successful Road Map for Bona Fide Error Defense

Smith Debnam Narron Drake Saintsing & Myers,... on 10/16/2017

The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” 15 U.S.C. § 1692d(6). The FDCPA also includes a “bona fide...more

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