News & Analysis as of October 18, 2024

European Free Trade Association

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

CFPB Issues Guidance Emphasizing the Importance for Banks to Maintain Sufficient Proof of Customers’ Affirmative Consent to...

Goodwin on 10/7/2024

In recent discussions surrounding banking practices, the issue of overdraft fees, particularly for ATM and one-time debit card transactions, has gained significant attention....more

CFPB warns against collecting on overdraft services without explicit consumer consent

Orrick, Herrington & Sutcliffe LLP on 9/25/2024

On September 17, the CFPB published a circular clarifying that banks and credit unions can violate the EFTA and Regulation E if they cannot prove that consumers agreed to be enrolled in overdraft services before being charged...more

CFPB Brings String of Enforcement Actions to Round Out 2023

Sheppard Mullin Richter & Hampton LLP on 1/29/2024

In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more

Federal jury convicts operator of payday lenders sued by CFPB and FTC

Ballard Spahr LLP on 11/21/2017

Richard Moseley Sr., the operator of a group of interrelated payday lenders, was convicted by a federal jury on all criminal counts in an indictment filed by the Department of Justice, including violating the Racketeer...more

FTC Provides 2015 Enforcement Report to CFPB

Ballard Spahr LLP on 6/10/2016

The Federal Trade Commission (FTC) has provided its annual report to the Consumer Financial Protection Bureau (CFPB) covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in...more

CFPB Director Cordray Issues Warning to Bankers

Ballard Spahr LLP on 11/24/2014

Director Cordray’s remarks to the Clearing House Thursday should unsettle bankers and payday lenders alike. In his talk, Director Cordray challenged bankers to bow to the inevitable. He suggested that sooner, rather than...more

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