President Donald Trump’s executive order titled Regulatory Freeze Pending Review directs federal agencies to stop all rulemaking activity pending within the agency and to consider all rules already published as paused for 60...more
The Federal Trade Commission (FTC or Commission) recently issued a final rule (the Junk Fees Rule or the Rule) banning so-called “junk fees” in two key industries: short-term lodging and live events. The Rule addresses...more
On October 24, 2024, the federal Consumer Financial Protection Bureau (CFPB) published a circular articulating its position that the Fair Credit Reporting Act (FCRA) applies to entities that offer workplace tracking...more
By approving a framework regulating earned wage access (EWA), California contributes to a state-by-state patchwork of EWA regulation. With the future of federal action uncertain, EWA providers will have to navigate this...more
Almost exactly a year after issuing a Notice of Proposed Rulemaking (NPRM) on Personal Financial Data rights, on October 22, 2024 the Consumer Financial Protection Bureau (CFPB) issued its final Rule under Section 1033 of the...more
The Federal Trade Commission (FTC) recently issued its Final Rule requiring businesses subject to its authority to establish equivalency between the ease of signing up and canceling subscriptions, memberships, and other...more
The Consumer Financial Protection Bureau (CFPB) recently promulgated a final rule requiring certain nonbank financial companies to register public orders issued by federal, state, or local agencies that contain prospective...more
Earlier this month, the Federal Trade Commission (FTC or Commission) published a final rule prohibiting certain specified unfair or deceptive acts or practices involving consumer reviews and testimonials. Effective October...more
The Consumer Financial Protection Bureau (CFPB) recently finalized its proposed rule to create a so-called “Repeat Offender” registry for certain covered financial services providers and individuals violating federal, state,...more
Following a recent call for consumer input, the Consumer Financial Protection Bureau (CFPB) announced it will launch a formal public inquiry into so-called “junk fees” that the Bureau claims may be increasing mortgage closing...more
The US Supreme Court ruled on May 16, 2024 that the funding structure of the Consumer Financial Protection Bureau (CFPB)—which is funded with money from the Federal Reserve rather than the US Congress—does not run afoul of...more
The Consumer Financial Protection Bureau (CFPB) recently released a comprehensive report detailing growing financial transactions within video gaming and virtual worlds, which increasingly mimic traditional monetary systems....more
The Department of Transportation and 18 states on April 16 agreed to a Memorandum of Understanding (MOU) that delegates more authority to and streamlines the process for state attorneys general to investigate consumer...more
Increases in enforcement and private litigation relating to what federal and state authorities have termed “junk fees” pose a growing challenge to businesses across geographies and sectors, as evidenced by the recent uptick...more
The Consumer Financial Protection Bureau (CFPB) on February 16 issued an internal process regulation—effective immediately upon publication in the Federal Register—updating and formalizing the steps that supervised...more
What Are Junk Fees? “Junk fees” refer to the broad swath of fees and charges, often mandatory, that are not included in the initial offered price of a good or service. Common examples include mandatory fees charged by hotels,...more
The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action...more
The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more
12/22/2023
/ Advertising ,
Automotive Industry ,
Automotive Loans ,
Banks ,
Car Dealerships ,
Cars ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Terms ,
Federal Trade Commission (FTC) ,
Final Rules ,
Financial Services Industry ,
Financing ,
Payment Terms ,
Unfair or Deceptive Trade Practices
The attorneys general of 20 states and territories, led by New York Attorney General Letitia James, recently sent letters to the heads of the US Consumer Financial Protection Bureau (CFPB) and US Office of the Comptroller of...more
Businesses should be aware that the Biden administration continues its attempt to curb junk fees, with additional actions proposed by the Federal Trade Commission and Consumer Financial Protection Bureau....more
With his signature, California Governor Gavin Newsom signed into law SB 478, expanding California’s already sweeping consumer protection laws to include a broad array of fees and charges referred to by the bill authors as...more
Federal agencies such as the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) have increased their scrutiny of auto loan servicing activities, particularly regarding auto dealers who engage in...more
The Federal Trade Commission recently released updated Guides Concerning the Use of Endorsements and Testimonials—commonly referred to as the “Endorsement Guides.” The updated Endorsement Guides, which were closely followed...more
The Consumer Financial Protection Bureau (CFPB) released a second iteration of its Policy Statement on Abusive Acts and Practices (Policy Statement) on April 3, 2023, giving insight into its current thinking on the...more
The Consumer Financial Protection Bureau (CFPB, the Bureau) promulgated on March 30 its final rule implementing Section 1071 of the Dodd-Frank Act. The rule requires that covered financial institutions collect and report to...more