12.28.17
In an attack on heavily criticized practices from Operation Choke Point, the House of Representatives passed a bill that would place limits on federal bank regulators ordering account closures.
12.22.17
In an explosive letter to Attorney General Jeff Sessions, a former Consumer Financial Protection Bureau (CFPB or Bureau) employee claims that her former bosses asked her to falsify records in a payday lender examination that resulted in a multimillion-dollar settlement.
12.14.17
Although the first round in the battle over leadership of the Consumer Financial Protection Bureau went to President Donald Trump’s pick for the position, the fight continues, leaving the CFPB’s ongoing work very unsettled.
In a push for increased cybersecurity vigilance, the Securities and Exchange Commission indicated its plans to amend existing data security guidance, including the reporting of data breaches.
Banks continue to file suit against retailers, hoping to shift the costs of data breaches, with some recent success.
Providing an important reminder about complying with the terms of a Federal Trade Commission order, a California-based auto dealership agreed to pay $1.4 million to settle charges that it violated a 2014 administrative order.
11.30.17
Earlier this week, a federal judge refused to grant a temporary restraining order preventing Mick Mulvaney from assuming the reins of the Consumer Financial Protection Bureau (CFPB) as acting director.
A state-chartered bank based in Missouri must pay $5 million pursuant to a Consent Order with the Board of Governors of the Federal Reserve System resulting from charges of deceptive marketing practices.
A credit card servicer and marketer will refund the initial $125 fee it charged to each of hundreds of New Yorkers as part of an agreement with the state’s attorney general.
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.
