Are assessments from the credit card networks damages that a merchant should be liable for under its merchant agreement? The U.S. Court of Appeals for the Sixth Circuit affirmed a multimillion-dollar judgment in favor of the...more
Director Kathy Kraninger is in the news, taking a hard line on civil investigative demands (CIDs), backing two new settlements and issuing a further delay of the payday loan rule. Meanwhile, consumer groups criticized the...more
Will Single-Use Products and Packaging Be a Thing of the Past in California? -
Walk down virtually any street, sidewalk, path, beach or trail in California and you will invariably find at least some single-use product or...more
6/13/2019
/ Arbitration ,
California Consumer Privacy Act (CCPA) ,
Class Action ,
Federal Trade Commission (FTC) ,
Food and Drug Administration (FDA) ,
Made in the USA ,
Opt-Outs ,
Popular ,
Retailers ,
SCOTUS ,
Single-Use/No Resale Restriction
In Consumer Financial Protection Bureau (CFPB or Bureau) news, there’s a major shakeup at the Bureau after Kristen Donoghue, a former Richard Cordray appointee who joined the CFPB back in 2011, resigned as the Bureau’s...more
There’s yet another state CFPB, and this one could be significant. Joining Pennsylvania’s earlier effort, the New York Department of Financial Services (DFS) has just created a new office, the Consumer Protection and...more
Ruling on an amended complaint, a Washington federal court refused to dismiss a securities class action alleging that Zillow’s co-marketing program violated the Real Estate Settlement Procedures Act (RESPA).
The order was...more
In a big week for the Consumer Financial Protection Bureau (CFPB or Bureau), it recently issued its proposed debt collection rules plus updates to the Prepaid Small Entity Compliance Guide, a notice of proposed rulemaking...more
Continuing to fill in gaps at the federal level, state attorneys general are keeping busy with enforcement actions, and on issues that might have received more CFPB attention under the old Cordray regime....more
The Supreme Court, in a sharply-divided 5-4 ruling issued on April 24, ruled that nothing in the Federal Arbitration Act allows courts to compel class action arbitration even if the contract is ambiguous in that regard, and...more
In Consumer Financial Protection Bureau (CFPB or Bureau) news, the Bureau announced a major change regarding civil investigative demands (CIDs) and Director Kathy Kraninger became the first CFPB director to serve as...more
In the latest attack on administrative deference, Sen. Ben Sasse (R-Neb.) opted for a frontal challenge to Chevron deference by introducing the Separation of Powers Restoration Act....more
What’s new at the Consumer Financial Protection Bureau (CFPB or Bureau)?
Recently, the Bureau announced tweaks to its advisory committees, published its annual report on Fair Debt Collection Practices Act (FDCPA)...more
The California Department of Business Oversight (DBO) will likely have a new commissioner in the coming months, with Affirm General Counsel and Chief Compliance Officer Manuel “Manny” Alvarez tapped to take the helm. But will...more
Making headlines in consumer finance news, Consumer Financial Protection Bureau (CFPB or Bureau) Director Kathy Kraninger paid Congress another visit, while the CFPB published its latest Supervisory Highlights, a first-time...more
In a key decision resolving a split among appeals courts, the Supreme Court unanimously ruled today, in Obduskey v. McCarthy & Holthus LLP, that law firms that carry out nonjudicial foreclosures are not considered debt...more
It has been another eventful news cycle for the Consumer Financial Protection Bureau (CFPB or Bureau), as its new director, Kathy Kraninger, appeared before the House Financial Services Committee, facing tough questions about...more
Just a limited set of Real Estate Settlement Procedures Act (RESPA) claims allow for private rights of action, but the list might be growing larger. One Massachusetts federal judge has ruled that borrowers may sue a servicer...more
Short-term lending remains in the news at the Consumer Financial Protection Bureau (CFPB or Bureau), with the CFPB proposing to rescind key ability-to-repay provisions of a much-debated payday lending rule and with the...more
The Consumer Financial Protection Bureau (CFPB or Bureau) has been busy under Director Kathy Kraninger, taking enforcement actions against an online lender, an online loan broker and a group of international payday lenders....more
Think again before you simplify your message to sell more cars. A $3 million fine levied in a case from the New York Department of Consumer Affairs (DCA) tells us why....more
While the dispute over the constitutionality of the Bureau of Consumer Financial Protection’s (CFPB or Bureau) structure continues to rage, the Bureau continued to make other news, releasing a report on the Ability to Repay...more
Perhaps setting the tone at the Bureau of Consumer Financial Protection (CFPB or Bureau), new Director Kathy Kraninger urged Bureau employees to “vigorously enforce the law” but refrain from presuming guilt about industry...more
Let’s call it molasses. Because that is what the Trump administration figuratively poured into the consumer protection engine known as the CFPB.
The Dodd-Frank Act created a monster, and a highly effective one. The Bureau...more
State regulatory oversight continues, with Virginia Attorney General Mark R. Herring winning a $50 million court order, albeit by default judgment, against a pension sale company and a coalition of 42 state attorneys general...more
It’s official: It’s BCFP no more! When Kathy Kraninger recently took over as director of the Consumer Financial Protection Bureau (CFPB or Bureau), her first significant act was to drop efforts to change the Bureau’s...more