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Federal Trade Commission (FTC) Banks Enforcement Actions

Mintz - ML Strategies

2024 Pre-Election Analysis: Financial Services

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Financial services encompass a wide range of services offered by the nation’s financial institutions, including banking, mortgage, investment, and credit services. The next administration and Congress’s financial services...more

BakerHostetler

Weekly Blockchain Blog - September 2024

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Crypto Payments Firms Announce New Integrations and Initiatives - According to reports, fintech bank Revolut recently announced a partnership with Ledger, a major crypto hardware wallet provider, to make it easier for...more

Hudson Cook, LLP

"OVER THE LINE!"  Where Banking and Gaming Intersect, the CFPB Has Something to Say.

Hudson Cook, LLP on

The line between virtual and reality is getting thinner. Gamers pay gaming companies real currency for virtual in-game currency to buy skins, create the world they want to live in (virtually), or purchase loot that aid in...more

Ballard Spahr LLP

FTC bans group of student loan debt relief scammers from the debt relief industry

Ballard Spahr LLP on

The Federal Trade Commission (“FTC”) recently entered into proposed stipulations with a group of student loan debt relief providers to resolve allegations that the group conducted deceptive marketing and sales practices in...more

Venable LLP

[Webinar] Payment Processors in the Regulatory Crosshairs: Updates on Regulatory Scrutiny and Best Practices for Compliance - May...

Venable LLP on

In recent years, payment processors and other financial intermediaries have faced heightened scrutiny from regulatory agencies, including the Federal Trade Commission, for their relationships with companies engaged in...more

Venable LLP

How Negative Option Marketing Can Risk Entangling Third-Party Banks and Payment Processors

Venable LLP on

We frequently post about negative option marketing in this blog, but our focus has been the FTC’s enforcement actions against businesses that utilize this marketing strategy. We haven’t written as much about a different risk:...more

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2020)

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This survey summarizes several recent developments affecting bank deposits and payment systems. These include payments-related consent orders and enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) and...more

Goodwin

Financial Services Weekly News: FDIC Issues Deposit Insurance Application Guidance For Non-Banks

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more

Cadwalader, Wickersham & Taft LLP

State Attorneys General Jolt Antitrust Enforcement

Over the past year, State Attorneys General have stepped into what they describe as a void of antitrust enforcement at the federal level.  AGs have commenced investigations and brought antitrust actions across industry...more

McDermott Will & Emery

Cartel Snapshot - June 2019

McDermott Will & Emery on

The Department of Justice (DOJ) Antitrust Division announced three new investigations and several developments in its other investigations, including new investigations in the commercial flooring industry, online auctions for...more

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2019)

Hudson Cook, LLP on

This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more

White & Case LLP

Consumer financial services: The road ahead: Small-dollar loans

White & Case LLP on

In February 2019, the CFPB released the highly anticipated revamp of its Payday Rule, reinforcing its more lenient attitude towards payday lenders. In light of the Bureau’s softer touch, as well as similar developments at the...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Prime Minister Theresa May has proven herself to be a remarkably good political survivor in the face of tall odds, but even she will have a difficult time this time around. Members of her own Tory party have called for a...more

Goodwin

Federal Reserve Settles with Pennsylvania Bank Over Alleged Deceptive Student Lending Practices

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On December 6, 2016, the Federal Reserve Board announced that it entered into a consent order with a Pennsylvania bank ordering it to cease and desist deceptive student lending practices, and assessing millions of dollars in...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Deutsche Bank and the DOJ have put the finishing touches on the deal to resolve the investigation into DB’s role in its sale of toxic RMBS. The bank will fork over $7.2 billion in total, including a $3.1 billion civil penalty...more

Goodwin

Board Interlocks On Antitrust Enforcement Hot Seat: A Must-Read Guide for Board Members and Officers

Goodwin on

Recent enforcement activity by the Department of Justice (that required restructuring a live transaction) and the Federal Trade Commission makes clear that enforcement of Section 8 of the Clayton Act, the prohibition against...more

Bilzin Sumberg

Alphabet Soup and Data Security

Bilzin Sumberg on

In the span of two days, mobile device users learned of two data breaches that could compromise their personal data. In one, Experian (a credit reporting agency) reported that it was hacked, potentially putting 15 million...more

Ballard Spahr LLP

Federal appeals court confirms FTC authority to regulate cybersecurity policies and procedures

Ballard Spahr LLP on

Banks and other companies subject to the CFPB’s jurisdiction face the possibility that the CFPB could begin using its authority under Sections 1031 and 1036 of the Dodd-Frank Act (which proscribe unfair, deceptive or abusive...more

Robinson & Cole LLP

Data Privacy and Security Insider Update - April 2015

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Target Corp. announced yesterday that it has settled the claims of MasterCard International Inc. (MasterCard) against it to reimburse MasterCard and its card issuers for the losses it sustained in issuing new credit and debit...more

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