11.30.17
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.
11.09.17
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).
10.26.17
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.
09.28.17
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.
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.
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.
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.
