• 11.09.17

    FTC Launches ‘Game of Loans’ Initiative

    Deceptive student loan debt relief scams are the target of a new coordinated federal-state law enforcement initiative led by the Federal Trade Commission (FTC).

  • 10.26.17

    Multi-Plaintiff Suit Challenges CFPB’s Arbitration Rule

    With no progress in Congress repealing the Consumer Financial Protection Bureau’s (CFPB or Bureau) arbitration rule, a coalition of 18 organizations filed suit in Texas federal court seeking to halt implementation of the prohibition on the use of mandatory predispute arbitration clauses.

  • 10.26.17

    Equifax Fallout Continues, Spreads Across Industry—and Pond

    The fallout from the Equifax data breach continues, reaching other credit reporting companies and all the way across the Atlantic Ocean.

  • 10.26.17

    Regulators Take the Wheel in Auto Financing Actions

    From the Department of Justice (DOJ) to the Massachusetts attorney general, auto financing has been the subject of several recent actions.

  • 09.28.17

    Equifax Breach Felt From Lawsuits to Legislation to … Arbitration?

    As the Equifax data breach continues to reverberate—with multiple class actions filed, calls to revamp the credit reporting industry and new legislation proposed—even the arbitration rules of the Consumer Financial Protection Bureau (CFPB) may see an impact.

  • 09.28.17

    California Bill Would Ban Arbitration in Fraudulent Bank Contracts

    In the wake of a scandal involving a national bank that allegedly opened millions of accounts without the consent of consumers, the California legislature has passed a bill that would prohibit the application of mandatory arbitration clauses to bank accounts that were created fraudulently.

  • 09.28.17

    Court Tosses CFPB Suit as Discovery Sanction

    A Georgia federal court judge has dismissed a lawsuit filed by the Consumer Financial Protection Bureau (CFPB or Bureau) against four payment processors as a sanction for demonstrating a “blatant disregard” for the court’s instructions.

  • 09.28.17

    Regulators Repudiate Operation Choke Point at Lawmakers’ Request

    Sounding the likely death knell for Operation Choke Point, federal regulators formally repudiated the program after receiving a letter from Republican legislators inviting them to do so.

  • 09.28.17

    Bank Pays $1.5M for Ancillary Products Issues

    The Office of the Comptroller of the Currency (OCC) has levied a $1.5 million civil money penalty against a Missouri-based bank for alleged violations of Section 5 of the Federal Trade Commission Act.

  • 08.31.17

    Another Court Finds the CFPB Constitutional

    Ruling that the Consumer Financial Protection Bureau (CFPB) is constitutional and has the authority to act against companies without first adopting specific rules defining whether any specific practice is unfair, deceptive or abusive, a Pennsylvania federal court judge denied a student loan ...

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