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CFPB Continues to Target Consumer Lending Activity, Imposes $20 Million Penalty
On May 31, 2023, the Consumer Financial Protection Bureau (CFPB) took decisive action against installment lender OneMainFinancial, demanding the payment of $20 million in penalties and redress. In the
FTC Sues VoIP Service Provider for Allegedly Aiding and Abetting Illegal Telemarketing Robocalls
Just last week, Federal Trade Commission (FTC) sued XCast Labs, Inc., a Voice over Internet Protocol (VoIP) provider, for its alleged involvement in facilitating illegal
New York AG Proposes Landmark Legislation to Regulate Crypto: Making a Bold Statement
On May 5, 2023, the New York Attorney General, Letitia James, proposed a “landmark” bill to increase regulations (again) on the cryptocurrency industry, thereby supposedly
Judge Calls Out TCPA Frequent Filer: “Far From Plaintiff’s First Rodeo”
“This is far from Plaintiff Na’eem Betz’s first rodeo. A frequent pro se filer, he brings this TCPA action against Synchrony Bank for allegedly calling
FTC Obtains Temporary Injunction Against Two Student Loan Debt Relief Companies
Last week, the Federal Trade Commission (FTC) obtained temporary restraining orders against two student debt relief companies in the U.S. District Court for the Central
FTC Obtains Multiple Orders Banning Credit Card Debt Relief Scheme as Alleged in the Lawsuit
On April 28, 2023, the Federal Trade Commission (FTC) obtained multiple orders banning operators of an alleged credit card debt relief scheme based in Tennessee,
CFPB Issues Advisory Opinion on Debt Collection Practices
On April 26, 2023, the Consumer Financial Protection Bureau (CFPB) released an advisory opinion to clarify that it is against the law for a debt collector
Coinbase Takes Legal Action Against SEC
On April 24, 2023, in a bold move, Coinbase took legal action against the SEC to push for regulatory clarity in the cryptocurrency industry. The
US Treasury Releases Risk Assessment Report on Decentralized Finance
On April 6, 2023, the US Department of the Treasury released a report analyzing the risks of decentralized finance (DeFi) and potential vulnerabilities in the
FTC Proposed Order: Lifetime Ban for Telemarketing Operators of “Extended Vehicle Warranty” Scams
On March 24, 2023, the Federal Trade Commission (FTC) announced that it settled a case against three companies plus individuals charged with running a telemarketing
CFPB Releases New Policy Statement on Abusive Practices: What You Need to Know
On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) issued a policy statement summarizing over a decade of precedent and explaining the legal prohibition
CFPB Releases New Policy Statement on Abusive Practices: What You Need to Know
On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) issued a policy statement summarizing over a decade of precedent and explaining the legal prohibition
New York State Attorney General Sues KuCoin for Allegedly Failing to Register as Securities and Commodities Broker-Dealer
March 9, 2023, the New York State Attorney General’s Office (NYAG) filed a lawsuit against crypto trading platform KuCoin. The lawsuit alleges that the platform
CFPB Proposes Order in Massive Action Against Debt Collection Company
On March 23, 2023, the Consumer Financial Protection Bureau (CFPB) has taken action against one of the largest debt collectors in the United States, Portfolio
North Carolina State Legislators Introduce an “Act to Modernize and Expand the Prohibition of Debt Settlement”
On March 27, 2023, North Carolina Representatives Julia Howard (R), Mitchell Setzer (R), Jason Saine (R), Terence Everitt (D), and Bill Ward (R) introduced House
California DFPI Proposes Regulation to Implement Registration Requirements for Entities Covered Under California Consumer Financial Protection Law § 9009
The California Consumer Financial Protection Law (“CCFPL”), established in September of 2020 under Governor Newsom, augmented the Department of Financial Protection & Innovation’s (“DFPI”) authoritative
CFPB Issues Bulletin to Warn Student Loan Servicers Who Ignore Bankruptcy Court Orders
On March 16, 2023, the Consumer Financial Protection Bureau (CFPB) issued a bulletin cautioning loan servicers about their responsibility to stop any illegal activity related
CFPB Announces Inquiry into Data Brokers: Seeking Public Input on Business Practices
On March 15, 2023, the Consumer Financial Protection Bureau (CFPB) announced an inquiry into companies that gather and track information about people’s personal lives. The