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FinTech › Unfair or Deceptive Trade Practices › FTC Act

Sheppard Mullin Richter & Hampton LLP

Lessons from the FTC: The Cleo AI Settlement

Sheppard Mullin Richter & Hampton LLP on

The FTC’s settlement with Cleo AI gives some indication as to what we might see from the agency in the coming months. The FTC alleged, among other things, that Cleo AI’s actions violated Section 5 of the FTC Act. In...more

Ballard Spahr LLP

FloatMe Settlement with FTC Contains Exacting Requirements

Ballard Spahr LLP on

On January 22, 2024, the Federal Trade Commission (FTC) entered into a Stipulated Order for Permanent Injunction, Monetary Judgment, and Other Relief (the “Order”) with FloatMe Corp. (“FloatMe”), a fintech that offers...more

Orrick, Herrington & Sutcliffe LLP

FDIC’s CRA evaluation rates fintech bank “needs to improve” for alleged FTC Act violations

Orrick, Herrington & Sutcliffe LLP on

On September 5, the FDIC released the list of nonmember banks examined for compliance with the Community Reinvestment Act (CRA), which is intended to “encourage insured banks and thrifts to meet local credit needs.” ...more

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