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Enforcement Actions Financial Services Industry Identity Theft

Troutman Pepper Locke

The Next FCRA Frontier: Identity Theft and CFPB Updates — FCRA Focus Podcast

Troutman Pepper Locke on

In this episode of FCRA Focus, hosts Kim Phan and Dave Gettings bring you the latest updates from the regulatory and litigation sides of the house. Dave shares his insights on the challenges and litigation surrounding...more

Bilzin Sumberg

Recent Settlements and Penalties Show Perils of Data Breaches

Bilzin Sumberg on

Two major U.S. financial institutions, Morgan Stanley and Capital One, recently agreed to resolve separate class action lawsuits by paying, in the aggregate, hundreds of millions of dollars in compensation for massive data...more

Holland & Knight LLP

CFPB Proposes Settlement with Debt Collector for Failing to Investigate Identity Theft Reports

Holland & Knight LLP on

With the ongoing COVID-19 pandemic, credit card companies may face increased scrutiny, as Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio recently stated that "credit reports play a huge role in...more

Ballard Spahr LLP

Equifax Reaches Historic $575 Million Settlement Agreement Arising from 2017 Data Breach

Ballard Spahr LLP on

Equifax has agreed to pay $575 million to settle consumer as well as state and federal regulatory claims for its 2017 data breach. This is the largest data breach settlement to date. ...more

Ballard Spahr LLP

CFPB reportedly puts investigation of Equifax on ice while other government agencies press forward

Ballard Spahr LLP on

Equifax announced on September 7, 2017 a massive data breach affecting an estimated 143 million consumers. Richard Cordray, the then Director of the CFPB, shortly thereafter authorized an investigation according to several...more

Ballard Spahr LLP

Federal jury convicts operator of payday lenders sued by CFPB and FTC

Ballard Spahr LLP on

Richard Moseley Sr., the operator of a group of interrelated payday lenders, was convicted by a federal jury on all criminal counts in an indictment filed by the Department of Justice, including violating the Racketeer...more

Orrick, Herrington & Sutcliffe LLP

Plaintiffs’ Lawyer Predicts $1 Billion Settlement in Data Breach Case – But Where’s the “Harm”?

This week, a high profile plaintiffs’ firm (Edelson) stated that “if done right,” the data breach class actions against Equifax should yield more than $1 billion in cash going directly to more than 143 million consumers...more

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