Newsletters

02.19.20

Securitization Vehicles Win Madden Victory

In one of two closely watched New York class actions asserting usury claims against national bank securitization vehicles based on the Second Circuit’s decision in Madden v. Midland Funding, 786 F.3d 246 (2d Cir. 2015), a federal magistrate judge has recommended dismissal based on federal ...


02.19.20

GAO Asked to Study Alternative Data Credit Decisions

In a new letter last month, a group of Democratic lawmakers asked the Government Accountability Office (GAO) to take a closer look at the use of alternative data for credit decisions, particularly in the context of mortgage lending.


02.19.20

Regulators Crack Down On Credit Repair Companies

Regulators are keeping a close eye on credit repair companies as evidenced by a pair of new lawsuits filed by the Illinois attorney general and a separate action brought by the Federal Trade Commission (FTC).


02.19.20

Pay-for-Play Website Pays FTC Over Fake Reviews, Deceptive Rankings

Deceptive rankings and fake reviews triggered a Federal Trade Commission (FTC) action for a comparison shopping website—and a warning to other companies. 


02.19.20

Judge Denying Summary Judgment Promises Demonstration of Challenged Ad Claims for Jurors

A putative class action challenging advertising claims for skin care products will move forward after a California federal court judge denied the defendants’ motion for summary judgment.


02.19.20

Artist Sues Cannabis Company and Agencies Over Mural Used in Ads

Another copyright infringement lawsuit has been filed by an artist after a mural appeared in advertising, this time in a dispute involving a cannabis company.


02.19.20

Fantasy Sports Faces Reality of NY Court Ruling They Are Illegal Gambling

A New York law permitting interactive fantasy sports (IFS) is unconstitutional, an appellate court in the state has ruled, dealing a blow to the multimillion-dollar industry.


02.13.20

CFPB Under Fire: Executive Appointments and Enforcement Actions Rattle Legislators

Democratic legislators and consumer groups heavily criticized the Consumer Financial Protection Bureau (CFPB or Bureau) for a number of recent moves.


02.13.20

Hearing Considers Madden, Proposed Rate Cap

The House Financial Services Committee held the first of a two-part hearing titled, “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps.”


02.13.20

Foreign Payment Processor, CEO Settles With FTC

The Federal Trade Commission (FTC) has reached a deal with a Latvian payment processor and its CEO, settling charges that the defendants facilitated a “free trial” scam involving personal care products and dietary supplements.