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FTC Takes Aggressive Approach Toward Amazon, Alleging Consumer Protection-Type Violations: Are the Lines Between FTC and CFPB Beginning to Blur?
On June 21, 2023, the Federal Trade Commission (FTC) filed a civil lawsuit against Amazon, alleging the use of “dark patterns” to deceive consumers into
FTC Awards $3.3 Million to Victims of Deceptive Student Loan Debt Relief Scheme
On June 14, 2023, the Federal Trade Commission (FTC) announced that it will be providing over $3.3 million in payments to consumers who fell victim
Shipkevich PLLC Launches Compliance Journal: A Cutting-Edge Legal Database for Regulated Financial Industries
Shipkevich PLLC, an institutional business and finance law firm, is thrilled to announce the launch of its innovative legal database, Compliance Journal. This state-of-the-art digital
Money Transmission Legislative & Regulatory Update: Minnesota, Nevada, Georgia, and Texas
Minnesota On May 24, 2023, the governor of Minnesota signed SF 2744, bringing amendments to various state statutes related to financial institutions. The amendments address
CFPB Warns Consumers to Be Cautious of High-Yield Savings Accounts with FinTech Savings Accounts: Perhaps a New Focus for the CFPB
The CFPB is shifting its focus to FinTech and nonbank payment systems, circling back to past frontiers. This recent warning echoes the sentiment of former
CFPB Warns Consumers to Be Cautious of High-Yield Savings Accounts with FinTech Savings Accounts: Perhaps a New Focus for the CFPB
The CFPB is shifting its focus to FinTech and nonbank payment systems, circling back to past frontiers. This recent warning echoes the sentiment of former
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