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Federal Trade Commission (FTC) Financial Institutions UDAAP

Ballard Spahr LLP

Update on Petition to Review FTC’s CARS Rule

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Petitioners in the challenge to the Federal Trade Commission’s (“FTC”) Combating Auto Retail Scams Rule (“CARS Rule”) filed their Petitioners’ Brief on March 15, 2004 in support of their petition for review, and a who’s who...more

Jenner & Block

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

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As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

Ballard Spahr LLP

CFPB appeals district court order granting summary judgment to plaintiffs in lawsuit challenging UDAAP exam manual

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On November 6, the CFPB filed a notice with the Texas federal district court that it is appealing to the Fifth Circuit the district court’s order granting summary judgment to a group of trade associations in their lawsuit...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

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Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

Davis Wright Tremaine LLP

RFI on Consumer Data Sharing Shows CFPB Interest in Data Aggregators

The Consumer Financial Protection Bureau (CFPB or the “Bureau”) has recently expressed interest in how consumer financial information aggregators and financial services companies interact to share and protect financial data...more

Morrison & Foerster LLP

Financial Services Report, Summer 2016

BELTWAY - Every Last Penny Counts - Five federal banking agencies issued a Supervisory Bulletin titled “Interagency Guidance Regarding Deposit Reconciliation Practices” (the “Guidance”). The Guidance outlines...more

Ballard Spahr LLP

House bill introduced to amend CFPB UDAAP authority

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The Dodd-Frank Act gave the CFPB authority to regulate “unfair, deceptive, or abusive” acts or practices.  Republican Congressman Blaine Luetkemeyer has introduced the “Unfair or Deceptive Acts or Practices Uniformity Act,”...more

Morrison & Foerster LLP

Financial Services Report, Fall 2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

K&L Gates LLP

In Win for CFPB, Federal Court Clarifies Scope of “Substantial Assistance” and “Service Provider” Provisions of Dodd-Frank Act

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In the first court decision to opine on the “service provider” and “substantial assistance” provisions of the Dodd-Frank Act, a federal district court in Georgia denied a motion to dismiss brought by payments processors who...more

Davis Wright Tremaine LLP

Recent Actions Added To UDAAP Database

The CFPB has issued new enforcement actions that include allegations of unfair, deceptive, or abusive acts and practices (UDAAP) in connection with consumer financial products. We’ve updated our UDAAP Database with the most...more

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