• 12.19.18

    CFPB: Name Restored, Kraninger Takes Helm, Enforcement and No-Action

    It’s official: The Bureau of Consumer Financial Protection (CFPB or Bureau) has its second formal director following the Senate confirmation of Kathy Kraninger.

  • 12.19.18

    State Enforcement: Attorneys General Tackle Pension Sales and Robosigning

    State regulatory oversight continues, with Virginia Attorney General Mark R. Herring winning a $50 million court order, albeit by default judgment, against a pension sale company and a coalition of 42 state attorneys general working together to reach a deal over unlawful debt collection.

  • 12.19.18

    Merchant Cash Advances on the Hot Seat

    Could investigative reporting into merchant cash advances lead to enforcement action against companies that make these advances, or to potential legislation to ban certain practices inherent in this industry?

  • 12.05.18

    CFPB News: Enforcement Action, Favorable Amicus, Possible Director Vote

    Have we seen the last of Mick Mulvaney as acting head of the Bureau of Consumer Financial Protection (CFPB or Bureau)?

  • 12.05.18

    Operation Choke Point Litigation Stirs Up Lawmaker Concern—Again

    According to a group of payday lenders, the reverberations of Operation Choke Point are still being felt.

  • 12.05.18

    FTC Sends Money Transfer Service $125M Penalty, Expanded Order

    An international money transfer service must pay $125 million after it failed to take the steps required in a 2009 consent order it had agreed to with the Federal Trade Commission (FTC) and a 2012 Deferred Prosecution Agreement (DPA) entered into with the Department of Justice (DOJ).

  • 11.07.18

    Ruling on Surcharge Law, NY Court Adds to Murky Situation

    In the latest piece of the surcharge controversy, New York’s highest court interpreted state law to hold that a merchant complies with the statute so long as it posts the total dollars and cents price charged to credit card users.

  • 11.07.18

    CFPB News

    The Bureau of Consumer Financial Protection (CFPB or Bureau) may have changed its name under Acting Director Mick Mulvaney, but its recent enforcement action against a small-dollar lender in Tennessee makes it look just like the old CFPB.

  • 10.24.18

    Insurance Won’t Cover Disgorgement Payment, NY Appellate Court Rules

    Applying a U.S. Supreme Court decision in the context of insurance coverage for a bank, a New York appellate court ruled that the amounts paid to the Securities and Exchange Commission (SEC) as disgorgement under a cease and desist order issued by the SEC were a “penalty” for which ...

  • 10.24.18

    Latest State Action: Washington AG Sues Debt Collectors

    Demonstrating heightened enforcement efforts by some state regulators, Washington Attorney General Bob Ferguson filed suit against a pair of debt collection companies and their owner, asserting the defendants were operating without a license in violation of state law.