The House Financial Services Committee, by a vote of 42 to 17, passed a bill that would affect a “Madden fix,” moving the legislation forward to the full House of Representatives for consideration.
Banks continue to file suit against retailers, hoping to shift the costs of data breaches, with some recent success.
In the latest anti-money laundering news, the Financial Industry Regulatory Authority published guidance on AML obligations of firms subject to FINRA supervision.
The Bureau of Consumer Financial Protection (CFPB or Bureau) has filed suit against the largest debt settlement services provider in the country, accusing the California-based entity of violating Dodd-Frank and the Telemarketing Sales Rule by deceiving consumers about its services.
In a blow to a bank that settled overdraft litigation for $24 million, the U.S. Court of Appeals, Seventh Circuit affirmed that the financial institution’s liability policy did not provide coverage for the deal.
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).
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.
The fallout from the Equifax data breach continues, reaching other credit reporting companies and all the way across the Atlantic Ocean.
From the Department of Justice (DOJ) to the Massachusetts attorney general, auto financing has been the subject of several recent actions.
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.