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Fees Enforcement Actions Consumer Financial Products

Alston & Bird

Payments Docket | July 2025

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The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features the CFPB dropping most of its caseload, several states’ decisions to pick up the slack, and...more

Orrick, Herrington & Sutcliffe LLP

FDIC fines bank $650K for alleged unfair and deceptive acts

On January 31, the FDIC publicly announced its order for a bank in Sandy, Utah, to pay a civil money penalty of $650,000 due to allegations of deceptive acts and unfair practices. ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Remittance Company to Pay $2.5 Million for Deceptive Practices and Inaccurate Disclosures

On January 30, 2025, the CFPB issued an order against a remittance company for misleading consumers about fees and failing to provide accurate disclosures, harming consumers who relied on the company’s representations when...more

Cozen O'Connor

Edward Jones Settles Multistate Investigation into Commissions and Supervisory Procedures

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New Jersey AG Matthew Platkin has settled with Edward D. Jones & Co., L.P., as part of a multistate investigation that included 14 states and the North American Securities Administrators Association, over allegations that the...more

BakerHostetler

[Podcast] AD Nauseam: Junk Fees Rule Crosses the Finish Line

BakerHostetler on

On today’s episode of AD Nauseam, Amy and Daniel are back with special guest, Randy Shaheen, a fellow partner at BakerHostetler, to discuss the passing of the FTC’s new Junk Fees Rule....more

Ballard Spahr LLP

CFPB takes action to ban Student Loan Pro from offering consumer financial products

Ballard Spahr LLP on

The CFPB has taken action to permanently ban Student Loan Pro and its owner, Judith Noh, from offering consumer financial products or services....more

Ballard Spahr LLP

CFPB sues Horizon Card Services and CEO, saying they cheated low-income people through membership scheme

Ballard Spahr LLP on

The CFPB earlier this month filed suit against Horizon Card Services and its CEO and sole shareholder Robert Kane for allegedly tricking subprime consumers into signing up for a high-fee credit card that only allowed them to...more

Hudson Cook, LLP

CFPB Sues Credit Card Issuer and its Owner and CEO for Alleged Deceptive Marketing and Improper Fees

Hudson Cook, LLP on

On September 13, 2024, the CFPB filed a lawsuit against the company and its owner and CEO, alleging deceptive and abusive acts and practices in violation of the CFPA and violations of TILA and its implementing regulation....more

Hudson Cook, LLP

CFPB Bites of the Month - February 2024 - "I Got You, CFPB".

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" covered during the February 2024 webinar....more

Goodwin

2023 Year in Review: Auto Loan Origination and Servicing

Goodwin on

Welcome to the Auto Loan Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - We anticipate that the CFPB will continue its attempts to combat...more

Goodwin

2023 Year in Review: Credit, Debit, or Prepaid Cards and Consumer Banking

Goodwin on

Welcome to the Credit, Debit, or Prepaid Cards and Consumer Banking chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - We expect continued focus by the CFPB on “junk”...more

Sheppard Mullin Richter & Hampton LLP

FTC Announces Settlement of Junk Fee Enforcement Action

On February 6, the FTC announced that it had reached proposed settlements with several defendants in a pending action where the parties were accused of operating a fraudulent student debt relief scheme and collecting...more

Shipkevich PLLC

FTC Files Proposed Orders to Ban Student Debt Relief Companies for Illegal Junk Fees and Upfront Fees

Shipkevich PLLC on

On February 6, 2024, the Federal Trade Commission (“FTC”) filed two proposed stipulated orders with a California federal court to permanently ban student debt relief companies as well as their individual operators. The...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Small Dollar Lending, Lease-to-Own, and Alternative Financial Services

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to the small dollar lending, lease-to-own, and alternative financial services industries. ...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Student Lending

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Mortgage

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to mortgage along with some additional related information. ...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Hudson Cook, LLP

CFPB Bites of the Month - October 2023 - Bewitching the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar. Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...more

Hudson Cook, LLP

CFPB Fines National Bank $9 Million for Improper Handling of Credit Card Billing Error Notices and Claims of Unauthorized Use

Hudson Cook, LLP on

The CFPB settled a lawsuit originally filed in January 2020 against a large national bank, claiming it violated the Truth in Lending Act and its implementing Regulation Z, as well as the Consumer Financial Protection Act, by...more

Goodwin

Peer-to-Peer Lender Agrees to Pay $18 Million to Settle FTC Suit

Goodwin on

​​​​​​​On July 14, 2021, the Federal Trade Commission (FTC) entered into a settlement agreement with a national peer-to-peer personal loan lender to resolve allegations stemming from 2018 lawsuit that the FTC had filed in the...more

WilmerHale

Regulatory Agencies Focus on “Junk Fees”

WilmerHale on

The Biden Administration announced a crackdown on “junk fees” on October 26, led by the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC), with the goal of “saving Americans, collectively,...more

Adams & Reese

CFPB Solicits Feedback on “Junk Fees” – Are New Regulations Coming?

Adams & Reese on

On January 26, 2022, the Consumer Financial Protection Bureau (CFPB) issued a request for public comment relating to “junk fees” consumers may be subjected to when engaging in financial services. So what exactly is a...more

Sheppard Mullin Richter & Hampton LLP

Consumer Fees Find Themselves in the Crosshairs: The CFPB Seeks Public Input on Alleged “Junk Fees” in the Consumer Financial...

The Consumer Financial Protection Bureau (“CFPB”) has continued to ratchet up its regulatory scrutiny over the consumer financial services market. On January 26, 2022, the CFPB published an initiative seeking public input on...more

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

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