On May 23, the FTC launched an investigation into unfair or deceptive practices in the small business financing industry. Press reports of this investigation emphasized the investigation’s relevance for online lenders and...more
11/4/2019
/ Federal Trade Commission (FTC) ,
Financial Transactions ,
Financing ,
FTC Act ,
Investigations ,
Section 5 ,
Small Business ,
Small Business Loans ,
Truth in Lending Act (TILA) ,
UDAP ,
Unfair or Deceptive Trade Practices ,
UTPCPL
On May 23, the FTC launched an investigation into potentially unfair or deceptive practices in the small business financing industry, including by merchant cash advance providers. Although the launch of the investigation was...more
6/7/2019
/ Consumer Financial Products ,
Federal Trade Commission (FTC) ,
Financing ,
FTC Act ,
Government Investigations ,
Magnuson-Moss Act ,
Popular ,
Section 5 ,
Small Business ,
UDAP ,
Unfair or Deceptive Trade Practices
The OCC and CFPB consent orders issued against Wells Fargo on April 20 cited deficiencies in third-party oversight practices. The orders are the latest additions to an ever-expanding body of agency enforcement actions...more
On April 25, the FTC filed a complaint against Lending Club in the district court for the Northern District of California. The complaint alleges that Lending Club’s online advertising “lures prospective borrowers by promising...more
4/30/2018
/ Advertising ,
Consumer Financial Products ,
Consumer Lenders ,
Corporate Counsel ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
LendingClub ,
Online Marketplace Lending ,
Transaction Fees ,
Unfair or Deceptive Trade Practices
On April 21, the U.S. Court of Appeals for the District of Columbia Circuit issued an opinion in CFPB v. Accrediting Council for Independent Colleges & Schools, affirming a decision by the D.C. district court to deny...more