News & Analysis as of

Financial Services Industry Unfair or Deceptive Trade Practices Enforcement Actions

Hudson Cook, LLP

CFPB Sues Credit Card Issuer and its Owner and CEO for Alleged Deceptive Marketing and Improper Fees

Hudson Cook, LLP on

On September 13, 2024, the CFPB filed a lawsuit against the company and its owner and CEO, alleging deceptive and abusive acts and practices in violation of the CFPA and violations of TILA and its implementing regulation....more

Ballard Spahr LLP

DC Attorney General Settles with Four Title Company Joint Venture Organizers

Ballard Spahr LLP on

The District of Columbia (DC) Office of the Attorney General (OAG) recently entered into settlements with four title companies in connection with title company joint ventures that included the companies and real estate agents...more

Ballard Spahr LLP

CFPB, Credit Repair Cloud Reach Deal Over Illegal Marketing Allegations

Ballard Spahr LLP on

The CFPB and Credit Repair Cloud, have reached agreement over allegations that the firm helped other credit repair businesses charge illegal fees to consumers....more

Troutman Pepper

District of Columbia AG Sues StubHub for Alleged “Dark Patterns” and Hidden Fees

Troutman Pepper on

On July 29, the attorney general (AG) for Washington, D.C. sued StubHub, Inc. (StubHub) for violations of the district’s Consumer Protection Procedures Act. The complaint accuses StubHub of employing “dark patterns,”...more

Ballard Spahr LLP

Populus files motion to dismiss CFPB enforcement action based on fact that CFPB has been unlawfully funded by Fed when it had no...

Ballard Spahr LLP on

We have previously blogged about an enforcement action brought on July 12, 2022 by the CFPB against Populus Financial Group, Inc., d/b/a ACE Cash Express, Inc. in Federal District Court for the Northern District of Texas...more

Ballard Spahr LLP

Vroom, FTC Agree to $1 Million Settlement over Car Sales Misrepresentation

Ballard Spahr LLP on

Vroom, the former used car sales website which halted vehicle sales in January 2024, has agreed to a proposed settlement with the FTC over allegations the company misrepresented that it had examined all vehicles before...more

Hudson Cook, LLP

CFPB Bites of the Month Webinar Recap: The CFPB and the Dust of June

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" covered during the June 2024 webinar....more

Mayer Brown

Discussing Consumer Protection Risk with John Sonsalla and Hugo Dante

Mayer Brown on

In this episode, Matt Bisanz interviews John Sonsalla and Hugo Dante of Washington Analysis to discuss developments in the world of consumer protection risk....more

Troutman Pepper

CFPB Files Lawsuit Against SoLo Funds for Alleged Deceptive Lending Practices

Troutman Pepper on

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a complaint against SoLo Funds, Inc., a fintech company operating a small-dollar, short-term lending platform. The CFPB alleges that SoLo Funds...more

Hudson Cook, LLP

CFPB Brings Lawsuit Against FinTech Company for its Alleged Deceptive Practices and for Allegedly Misrepresenting the Costs of its...

Hudson Cook, LLP on

On May 17, 2024, the CFPB filed a lawsuit in the U.S. District Court for the Central District of California against a financial technology company for violations of the CFPA and FCRA....more

Ballard Spahr LLP

CFPB Takes Action Against BloomTech, Inc. for ISAs that Violate TILA, UDAAP, and the FTC’s Holder Rule

Ballard Spahr LLP on

On April 17th, the CFPB issued a consent order to a for-profit training school alleging numerous violations of law related to its use if income share agreements (“ISAs”). According to the Bureau, BloomTech, Inc. (“BloomTech”)...more

Troutman Pepper

CFPB Enters Consent Order Against BloomTech Over Misleading Income-Share Agreements

Troutman Pepper on

On April 17, the Consumer Financial Protection Bureau (CFPB or Bureau) entered a consent order against BloomTech, a for-profit vocational school, and its CEO, Austen Allred, for deceptive marketing practices related to...more

Troutman Pepper

CFPB’s Spring Edition of Its Supervisory Highlights Focuses on Consumer Reporting

Troutman Pepper on

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released the spring edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or practices...more

Troutman Pepper

New York AG Sues Yellowstone Capital Over Alleged “Fraudulent Loans” Targeting Small Businesses

Troutman Pepper on

New York Attorney General (AG) Letitia James filed a lawsuit on March 5 against Yellowstone Capital, its founder David Glass, and a network of 30 other affiliated companies and individuals. James alleges that Yellowstone...more

Troutman Pepper

Status of the DOJ's Combatting Redlining Initiative — The Consumer Finance Podcast

Troutman Pepper on

In this episode of The Consumer Finance Podcast, host Chris Willis and guest Lori Sommerfield discuss the status of the Department of Justice's (DOJ) Combatting Redlining Initiative. The initiative, which has been underway...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

Troutman Pepper

New York AG Secures $77M Judgment With Merchant Cash Advance Companies

Troutman Pepper on

On February 8, New York attorney general (AG) Letisha James announced a $77 million judgment with three merchant cash advance (MCA) companies, Richmond Capital Group, Ram Capital Funding, and Viceroy Capital Funding, and...more

Goodwin

CFPB and Several States Order Vocational Education Company to Pay Fines, Cancel Loans, and Cease Operations After Allegedly...

Goodwin on

On November 20, 2023, the Consumer Financial Protection Bureau (CFPB) announced that, in conjunction with 11 states, it entered into a stipulated final judgment with a Delaware-based vocational education company that...more

Hudson Cook, LLP

CFPB Imposes Industry Ban on Medical Debt Collector

Hudson Cook, LLP on

On December 15, 2023, the CFPB announced a settlement with a medical debt collector to resolve allegations that it violated the Fair Credit Reporting Act ("FCRA"), its implementing Regulation V, the Fair Debt Collection...more

Sheppard Mullin Richter & Hampton LLP

FDIC Issues Order Against Bank Over Fintech Partnership

On November 21, a Washington-based bank confirmed through a public filing that it entered into a consent order with the FDIC alleging that the bank engaged in unsafe or unsound banking practices, primarily related to products...more

Hudson Cook, LLP

CFPB Fines Fintech Installment Lender $15 Million for Alleged Consent Order Violations

Hudson Cook, LLP on

On November 15, 2023, the Consumer Financial Protection Bureau announced that a nonbank installment lender agreed to settle allegations that it was violating a 2019 consent order. The Company is a publicly traded online...more

Troutman Pepper

FTC and Wisconsin DOJ Settle with Auto Group over Alleged Illegal Add-Ons and Discrimination Against American Indian Consumers

Troutman Pepper on

On October 24, the Federal Trade Commission (FTC) and the Wisconsin Department of Justice announced a settlement with Wisconsin auto dealer group Rhinelander Auto Center, Inc. (Rhinelander), its current and former owners, and...more

Cadwalader, Wickersham & Taft LLP

Multistate and CFPB Enforcement Actions Against Lease Finance Company Tempoe

The Consumer Financial Protection Bureau (“CFPB”) announced on Monday that it and 41 states and the District of Columbia had resolved a multistate investigation in the leasing activities engaged in by specialty consumer...more

Goodwin

CFPB Issues New Supervisory Highlights Report

Goodwin on

​​​​​​​On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) released a Supervisory Highlights report covering findings from its examinations completed between July 2022 and March 2023 (the Report), which found,...more

Goodwin

CFPB Files Complaint Against Auto Loan Servicer

Goodwin on

On August 2, 2023, the CFPB announced that it had filed a complaint against a Georgia-based auto-loan servicer alleging “unfair acts and practices in violation of the Consumer Financial Protection Act of 2010 (CFPA), 12...more

114 Results
 / 
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide