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Consumer Lenders False Advertising

Goodwin

2023 Year in Review: Auto Loan Origination and Servicing

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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: Student Lending

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Welcome to the Student Lending chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB will likely continue to focus on junk fees, nontransparent and other...more

Goodwin

Online Student Loan Refinance Company Settles FTC Charges Over False Advertisements

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On Monday, October 29, 2018, the Federal Trade Commission (“FTC”) announced that it reached a settlement agreement with an online student loan refinancer relating to charges that the company deceptively advertised inflated...more

Troutman Pepper

New FTC Lawsuit Against Lending Club Provides Helpful Insights

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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

Fox Rothschild LLP

FTC Sues Lending Club For Deceptive Advertising

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The FTC filed a lawsuit this week against Lending Club, a peer-to-peer lending company that operates an online marketplace for personal loans. The lawsuit accuses Lending Club of luring consumers to its website with online...more

Goodwin

CFPB Enters Consent Orders with Credit Reporting Agencies Over Allegedly Deceptive Credit Scores

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On January 3, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into two consent orders, available here and here, with two national credit reporting agencies over allegations that the...more

Ballard Spahr LLP

CFPB enters into consent order with lender to settle claims alleging deceptive advertising and collection letters, unauthorized...

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The CFPB announced that it has entered into a consent order with Moneytree, Inc. to settle allegations that the company engaged in deceptive advertising, sent consumers deceptive collection letters, and did not obtain written...more

Ballard Spahr LLP

FTC Targets Auto Dealers, Alleges Deceptive Financing Practices

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The Federal Trade Commission (FTC) has filed an action against nine auto dealerships and their individual owners in a California federal court that the FTC described as its "first action against an auto dealer for 'yo-yo'...more

Ballard Spahr LLP

FTC Consent Order Creates Uncertainty for Advertising of Credit, Lease Offers

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A recent Federal Trade Commission (FTC) consent order with two Ohio auto dealers creates uncertainty not only for auto dealers, but also for all other businesses advertising credit or lease offers. The order settled...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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In a burst of post-Labor Day energy, the SEC filed a number of significant actions. Those include a series of actions arising out of the audit failure by BDO; actions centered on a financial fraud at an on-line lender; cases...more

Ballard Spahr LLP

CFPB takes action on misleading advertisements

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Late last week, on February 12, the CFPB announced actions against three mortgage companies for alleged violations of Regulation N, the Mortgage Acts and Practices Advertising Rule. Among other restrictions, Regulation N bars...more

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