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False Advertising Unfair or Deceptive Trade Practices Consumer Financial Products

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The Federal Trade Commission: Looking Back at 2023 and Looking Ahead to 2024 and Beyond

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Our special guest is Malini Mithal, Associate Director of the FTC’s Division of Financial Practices. In this episode, which repurposes a recent webinar, we review highlights of FTC regulatory and enforcement activity in 2023...more

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

Troutman Pepper

Massachusetts AG Proposes New Regulations Against Hidden “Junk” Fees

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While the federal government’s campaign against hidden “junk” fees intensifies, state attorneys general (AGs) have long been contesting concealed costs as unfair or deceptive — especially in the absence of sufficient...more

Sheppard Mullin Richter & Hampton LLP

CFPB Sues Lease-to-Own Finance Company for Allegedly Deceiving Consumers

On July 19, the CPFB filed a complaint against a lease-to-own finance company, alleging that the company has offered and provided millions of “lease-purchase” and “rental-purchase” financing agreements in ways that have...more

Sheppard Mullin Richter & Hampton LLP

FTC Renews Focus on Dark Patterns

Following its 2021 Dark Patterns enforcement policy, the FTC recently issued a staff report on the practice. The report summarized many of the cases the agency has brought against companies it alleges have engaged in “dark...more

Sheppard Mullin Richter & Hampton LLP

FTC Reports Rise in “Dark Pattern” Tactics in Consumer Markets

On September 15, the FTC released a report, Bringing Dark Patterns to Light, that shows an increase in the use of sophisticated “dark pattern” design practices by retailers intended to manipulate consumers into making...more

Ballard Spahr LLP

CFPB Issues Additional Consent Orders for False and Misleading Mortgage Advertising

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Since late July, the CFPB has issued seven consent orders against mortgage companies in which the CFPB asserts that the companies engaged in false and misleading advertising to service members and veterans. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

FTC Enforcement Trends in Consumer Protection

A comprehensive review of recent Federal Trade Commission (FTC or Commission) consumer protection actions shows that the FTC continues to be one of Washington’s most aggressive regulators. While the number of enforcement...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

Ballard Spahr LLP

FTC settles Section 5 claims against company promoting schools to military servicemembers

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The FTC has entered a proposed consent order with Victory Media, Inc. (VMI) to settle the FTC’s charges that VMI violated Section 5 of the FTC Act by engaging in deceptive acts or practices in connection with its promotion of...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

CFPB enters into consent orders with reverse mortgage companies to settle alleged advertising violations

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The CFPB announced that it entered into consent orders with three reverse mortgage companies to settle the CFPB’s allegations that the companies engaged in deceptive advertising in violation of the Mortgage Acts and...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

McGuireWoods LLP

Consumer Financial Protection Bureau Takes Action Against Payment Processing Company and Mortgage Servicer

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The Consumer Financial Protection Bureau (CFBP) recently took action against a payment processing company, Paymap Inc. (Paymap), and mortgage servicing company, LoanCare, LLC (LoanCare), for deceptive conduct in connection...more

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