News & Analysis as of

Enforcement Actions Credit Cards Settlement

Orrick, Herrington & Sutcliffe LLP

CFPB drops CFPA, TILA-related case

On April 23, the CFPB filed a notice of dismissal pertaining to its lawsuit filed in the U.S. District Court for the Western District of Pennsylvania against a credit card company and its CEO. The CFPB alleged the company...more

Hudson Cook, LLP

National Bank Reaches Settlement with the CFPB for Alleged Credit Reporting Violations

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On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher...more

Hudson Cook, LLP

CFPB Fines Major Bank $26M for Allegedly Discriminating Against Armenian Americans

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On November 8, 2023, the Consumer Financial Protection Bureau announced that one of the nation's largest banks (the "Bank") agreed to settle charges that the Bank engaged in a pattern or practice of discriminating against...more

Troutman Pepper Locke

New York AG Announces Settlement With Avis Budget Group

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On August 15, New York Attorney General (AG) Letitia James announced a settlement with Avis Budget Group Inc. (Avis Budget), for allegedly denying car rentals to customers who did not possess a credit card. Under the terms of...more

WilmerHale

$8 Million Multistate Settlement Resolves 2019 Data Breach Investigation

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State Attorneys General settle with Wawa, Inc. for 2019 data breach that compromised approximately 34 million payment cards used by consumers. On July 26, 2022, Acting New Jersey Attorney General Matthew J. Platkin...more

Venable LLP

FTC Approves Administrative Settlement with Payment Processor, Electronic Payment Systems

Venable LLP on

Yesterday, the Federal Trade Commission (FTC) moved to dismiss its long-running enforcement action against Electronic Payment Solutions (EPS) pending in the District of Arizona after the Commission voted 4-0 to approve a...more

Wiley Rein LLP

Wiley Consumer Protection Download (February 16, 2021)

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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

Goodwin

FTC Announces $10.9 Million Settlement for Credit Card Laundering Scheme

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On February 10, 2021, the Federal Trade Commission (FTC) announced settlements with two payment processing companies and two individuals, resolving claims concerning an alleged credit card laundering scheme perpetrated in...more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

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In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

Goodwin

State AGs Announce $4.2 Million Settlement with National Bank for Alleged CARD Act Violations

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On February 8, state ​Attorneys General for North Carolina, Iowa, Massachusetts, New Jersey, and Pennsylvania (State AGs) announced a $4.2 million settlement ​with a national bank to resolve allegations that it overcharged...more

Goodwin

FTC Reaches Settlement with Two Nevada Companies for Alleged Credit Card Scheme

Goodwin on

On January 29, 2021, the FTC announced that it filed a proposed settlement in the District of Nevada with two Nevada-based consulting companies, resolving claims ​that the companies violated the FTC Act, Telemarketing and...more

Goodwin

FTC Reaches $1.5 Million Settlement with Payment Processor Over Fraud Allegations

Goodwin on

On December 10, 2020, the Federal Trade Commission (Commission) announced that it reached a settlement with a payment processor and its former CEO for alleged violations of the Federal Trade Commission Act (FTCA). ...more

ArentFox Schiff

Interactive Newsletter: Inside the Privacy Shield Annual Review

ArentFox Schiff on

Inside the Privacy Shield Annual Review - Dozens of senior US and EU government officials were joined by officials from data protection authorities in Austria, Bulgaria, France, Germany and Hungary to discuss whether the...more

MoFo Reenforcement

One-Two Punch: CFPB Indirect Auto and Add-On Product Orders

MoFo Reenforcement on

The CFPB announced two new enforcement action settlements on September 28: one for alleged discriminatory auto loan pricing and the other for alleged deceptive credit card add-on product marketing practices....more

Morrison & Foerster LLP

Takeaways From GE Capital's $225M Credit Card Settlement

Last week, the Consumer Financial Protection Bureau announced a $225 million settlement of two major credit card enforcement matters with Synchrony Bank, formerly known as GE Capital Retail Bank. First, the “add-on matter”...more

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