CFPB's Policy Statement on Abusiveness (Part 2) - The Consumer Finance Podcast
CFPB's Policy Statement on Abusiveness (Part 1) - The Consumer Finance Podcast
FTC Consent Order With Auto Dealer and Proposed Rule - The Consumer Finance Podcast
In a move that's sure to make nonbank financial institutions even more uncomfortable, the Consumer Financial Protection Bureau (CFPB) has decided to shine a brighter light on those that have been alleged to violate consumer...more
On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more
The FTC has announced that it plans to move forward on an ambitious rulemaking agenda. In contrast to the CFPB’s Fall 2021 rulemaking agenda which offered no meaningful insights into the Bureau’s rulemaking plans in many key...more
The FTC announced yesterday that it has sent a “Notice of Penalty Offenses” to 70 for-profit higher education institutions that outlines a number of practices that the FTC has previously found to be unfair or deceptive....more
The FDIC’s settlement with Umpqua Bank announced yesterday is notable because the bank’s collection practices found to be unfair and deceptive involved commercial equipment financing offered by the bank’s wholly-owned...more
On May 23, the FTC launched an investigation into unfair or deceptive practices in the small business financing industry. Press reports of this investigation emphasized the investigation’s relevance for online lenders and...more
On May 23, the FTC launched an investigation into potentially unfair or deceptive practices in the small business financing industry, including by merchant cash advance providers. Although the launch of the investigation was...more
Loan servicers, beware! The Federal Trade Commission (FTC) recently issued a large fine to a loan servicer, based on Unfair or Deceptive Acts or Practices (UDAP) standards. ...more