News & Analysis as of

Federal Trade Commission (FTC) Financial Services Industry Scams

Orrick, Herrington & Sutcliffe LLP

FTC charges debt collection company and owner for alleged $7.6M debt collection scam

On November 4, the FTC has taken action against a debt collection business and its owner for allegedly deceiving consumers into paying over $7.6 million in fake debts. According to the FTC’s complaint, the defendants...more

Wiley Rein LLP

Wiley Consumer Protection Download (June 4, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Ballard Spahr LLP

FTC files opposition to petition challenging CARS Rule in the 5th Circuit

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On May 14, 2024, the Federal Trade Commission’s (“FTC”) filed its brief in opposition to Petitioners’ Brief in the legal challenge to the Combating Auto Retail Scams Rule (“CARS Rule”). The petitioners are the National...more

Ward and Smith, P.A.

What is the Federal Trade Commission's Combating Auto Retail Scams Trade Regulation Rule (CARS Rule)?

Ward and Smith, P.A. on

The Federal Trade Commission's ("FTC") new Combating Auto Retail Scams Trade Regulation Rule, known as the CARS Rule (the "Rule"), is a comprehensive initiative aimed at bringing transparency and fairness to the car buying...more

Ballard Spahr LLP

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

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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

Husch Blackwell LLP

FTC Finalizes—and Then Pauses—CARS Rule Impacting Dealers, Auto Finance Companies

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On December 12, 2023, the Federal Trade Commission (FTC) announced it has finalized the Combating Auto Retail Scams Rule (CARS Rule), which imposes various obligations affecting dealers’ sales practices and will also impact...more

Cozen O'Connor

FTC is Riding Shotgun with Potential Car Buyers

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The FTC finalized a new rule intended to protect consumers buying a new car from unlawful and deceptive sales tactics pursuant to its authority under the Dodd-Frank Act to prescribe rules relating to unfair or deceptive...more

Troutman Pepper

FTC Issues Report to Congress on the Fraud Threats Faced by Older Consumers

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On October 18, the Federal Trade Commission (FTC) issued a report to Congress in which it outlined its ongoing efforts to protect older Americans from fraud related losses....more

Wiley Rein LLP

Wiley Consumer Protection Download (July 24, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - V 4, Issue 1, January 2023

Big Boosts to Cybersecurity and Tech Funding in $1.7T Omnibus Bill Signed by Biden - “The bipartisan fiscal 2023 omnibus spending agreement includes $2.9 billion for the Cybersecurity and Infrastructure Security Agency, a...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 19, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

BakerHostetler

U.S. Bank Acquires Blockchain Infrastructure; SEC Approves Blockchain-Based Exchange; FTC Warns on Crypto Scams; NFT Threats,...

BakerHostetler on

U.S. Bank Seeks to Launch Stablecoin; New Crypto Payments Data Released - A well-known digital payments consortium sold its technology platform this week to a U.S.-based bank known for its cryptocurrency-related offerings....more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - December 2020 #2

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Goodwin

FTC Files Suit and Obtains Temporary Restraining Order Against Alleged Student Loan Debt Relief Scam

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On November 12, 2019, the Federal Trade Commission (FTC) announced that on it had filed a lawsuit against a collection of interrelated companies and individual defendants for allegedly misrepresenting themselves as affiliated...more

Manatt, Phelps & Phillips, LLP

Ninth Circuit Affirms FTC Act Violations Against Alleged Mortgage Relief Scammers

The Ninth Circuit refused to allow various defendants to escape liability for a variety of alleged mortgage relief scams, affirming judgments based on violations of the FTC Act and the federal Mortgage Assistance Relief...more

Ballard Spahr LLP

Imposter Scams Top FTC’s List of 2018 Consumer Complaints

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The FTC has issued its 2018 Consumer Sentinel Network Data Book. The report summarizes consumer complaints stored in the Consumer Sentinel Network, a secure online database....more

Ballard Spahr LLP

11th Circuit Affirms FTC's $13.5 Million Judgment Against Mortgage Relief Fraudster

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On November 2, 2017, the U.S. Court of Appeals for the 11th Circuit affirmed a $13.5 million judgment that the FTC obtained against a group of individuals, law firms, and related entities that engaged in a massive nationwide...more

Goodwin

Financial Services Weekly News - September 2016 #3

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Editor's Note - Investment Company Institute Publishes FAQ on SEC No-Action Letter Regarding Auditor Independence. On September 23, the Investment Company Institute (ICI) published a memorandum (ICI Memo) responding to...more

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