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Articles by Brian Turetsky
Governor Hochul Signs Chapter Amendment to the New York FAIR Business Practices Act
In a prior Consumer Crossroads blog post, we reported that Governor Hochul had signed the Fostering Affordability and Integrity Through Reasonable Business Practices Act (the “FAIR Business Practices Act”) into law as Chapter 708 of the 2025 Session Laws.[1] In connection with her approval of the FAIR Business Practices Act, Governor Hochul issued an Approval Memorandum stating that she had reached an agreement with the state legislature to enact amendments that would: “ensure that the bill...
Governor Hochul Signs Chapter Amendment to the New York FAIR Business Practices Act
In a prior Consumer Crossroads blog post, we reported that Governor Hochul had signed the Fostering Affordability and Integrity Through Reasonable Business Practices Act (the “FAIR Business Practices Act”) into law as Chapter 708 of the 2025 Session Laws.[1] In connection with her approval of the FAIR Business Practices Act, Governor Hochul issued an Approval Memorandum stating that she had reached an agreement with the state legislature to enact amendments that would: “ensure that the bill...
DOJ Settlement with Car Retailer Highlights SCRA Repossession Risks
On February 23, 2026, the United States Department of Justice (DOJ) entered into a settlement agreement with CarMax, Inc., resolving allegations that the car retailer violated the Servicemembers Civil Relief Act (SCRA) by repossessing vehicles from servicemembers on active duty without obtaining required court orders.
Governor Hochul Signs New York FAIR Business Practices Act, Greatly Enhancing Attorney General Enforcement Authority | JD Supra
On December 19, 2025, approximately six months after its approval by the New York State Legislature, Governor Kathy Hochul signed the Fostering Affordability and Integrity Through Reasonable Business Practices Act (the “FAIR Business Practices Act”) into law as Chapter 708 of the 2025 Session Laws. The FAIR Business Practices Act greatly enhances the Attorney General’s enforcement authority by expanding its scope to include unfair and abusive acts and practices.
Lenders Should Approach the Recent CFPB–MoneyLion Military Lending Act Settlement With Caution | JD Supra
On November 24, 2025, the court in CFPB v. MoneyLion Technologies, No. 1:22-cv-08308 (SDNY) entered a stipulated final judgment and order that settled the Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”) enforcement action against MoneyLion Technologies, Inc. and its lending subsidiaries (collectively, “MoneyLion”).
Citing Jarkesy, Asbury Automotive Group files suit challenging FTC administrative proceeding | JD Supra
One of the country’s largest automotive retailers filed suit against the Federal Trade Commission (“FTC”) on October 4, arguing that the Supreme Court’s recent landmark decision in Securities and Exchange Commission v. Jarkesy requires that complaints such as the one filed against it be filed in court, and not considered in an administrative proceeding.
FTC issues final click to cancel rule to make it easier for consumers to cancel enrollment in negative option programs | JD Supra
On October 16, the FTC issued its final amendments to the Negative Option Rule, which now applies to all negative option programs and includes a “click to cancel” provision intended to make it easier for consumers to cancel their enrollment in order to halt continued charges.
CFPB focuses on auto finance practices in latest Supervisory Highlights | JD Supra
On October 7, the CFPB released the Fall edition of its Supervisory Highlights, “Special Edition Auto Finance,” focusing on the auto finance market. The report highlights various supervisory observations and enforcement actions taken to address issues the CFPB asserts it has seen in the auto finance sector, including deceptive marketing practices, wrongful repossessions, and failures in servicing and add-on product administration.
CFPB: Number of servicemember complaints increased in 2023 | JD Supra
The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of complaints that servicemembers filed with the CFPB increased in 2023. The report identifies trends in complaints, highlights financial services issues impacting servicemembers and veterans, and offers recommendations to improve financial protections for the military community.
CFPB Again Taking on Gaming Industry | JD Supra
On August 28, 2024, the CFPB issued a consumer advisory warning that many video games and “virtual worlds” increasingly resemble traditional banking and payment systems that allow the storage and exchange of billions of dollars in assets, including virtual currencies. The advisory emphasizes that these “non-traditional” markets have many of the risks associated with real-world transactions, as well as their own unique risks, but without gaming companies providing protection against such risks.
Consumer groups show support of CFPB’s Auto Finance Data Pilot and urge the Bureau to expand its data collection | JD Supra
In February 2023, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) announced an auto finance data pilot, where it ordered nine large auto lenders to provide information about their auto lending portfolios. These lenders consisted of banks, finance companies, and captive lenders (manufacturer-owned finance companies that generally provide below-market interest rate auto financing to consumers).
FTC, State of Arizona Charge Auto Dealership with Deceiving Consumers | JD Supra
On August 15, 2024, the Federal Trade Commission (“FTC”) and Arizona Attorney General announced a proposed settlement with an Arizona-based vehicle dealership to resolve allegations that the dealership misrepresented prices in online advertisements, engaged in unfair and deceptive practices related to the sale of add-on products, and discriminated against Latino consumers by charging higher interest rates and more expensive add-on charges.
FTC Issues Final Rule to Fight Fake Product Reviews | JD Supra
The Federal Trade Commission on August 14 announced a final trade regulation rule intended to fight fake reviews and testimonials by prohibiting their purchase or sale and by allowing the agency to seek civil penalties against violators. The final rule, 16 CFR Part 465: Trade Regulation on the Use of Consumer Reviews and Testimonials, follows a proposed rule issued in June 2023 and an informal hearing on the proposal that was held in February.
FTC Orders Career Training Company to Pay $43.5 Million for Luring Students With Deceptive Ads | JD Supra
Career Step LLC, an online career training company has been ordered to pay $43.5 million in cash and debt cancellation to resolve FTC charges that the company “lured consumers, specifically servicemembers and their families, with deceptive ads that falsely touted inflated employment outcomes, job placement, and partnerships with prominent companies.” The company will cancel $27.8 million in debt and pay $15.7 million to provide redress to consumers harmed by its deceptive advertising.
Vehicle Services Company CarShield Settles Complaint with FTC | JD Supra
CarShield, a company that sells vehicle service contracts (VSCs), will pay $10 million to settle FTC allegations that its advertisements and telemarketing pitches deceived consumers, the agency announced on July 31. The money will be used to provide refunds to consumers who were defrauded.
FirstCash Files Motion for Partial Summary Judgment in Case Filed by CFPB | JD Supra
FirstCash, a national pawnshop chain, is asking a federal judge to confirm that it has a statutory defense to all of the CFPB’s claims that it violated the Military Lending Act (MLA) while also asking the judge to drop three of the CFPB’s MLA claims for lack of jurisdiction—contending that the bureau has conceded that it does not have the authority to enforce those claims.. The chain recently filed a motion for partial summary judgment in U.S. District Court for the Northern District of Texas.
Fifth Circuit Court of Appeals Schedules Oral Arguments in CARS Rule Challenge for Oct 7 | JD Supra
The Fifth Circuit Court of Appeals has set oral arguments for Oct. 7 in the challenge of the Federal Trade Commission’s Combating Auto Retail Scams Rule (“CARS Rule”). The petition, filed on January 5, 2024 by the National Automobile Dealers Association and Texas Automobile Dealers Association asks the court to vacate or modify the rule and stay its enforcement pending resolution of the petition.
Vroom, FTC Agree to $1 Million Settlement over Car Sales Misrepresentation | JD Supra
Vroom, the former used car sales website which halted vehicle sales in January 2024, has agreed to a proposed settlement with the FTC over allegations the company misrepresented that it had examined all vehicles before listing them for sale, failed to obtain customers’ consent to shipment delays and failed to provide prompt refunds when cars were not delivered on time. Vroom, agreed to pay $1 million to consumers.
Vroom, FTC Agree to $1 Million Settlement over Car Sales Misrepresentation
Vroom, the former used car sales website which halted vehicle sales in January 2024, has agreed to a proposed settlement with the FTC over allegations the company misrepresented that it had examined all vehicles before listing them for sale, failed to obtain customers’ consent to shipment delays and failed to provide prompt refunds when cars were not delivered on time. Vroom, agreed to pay $1 million to consumers.
U.S. Supreme Court Deals Blow to Agency In-House Enforcement Powers | JD Supra
The U.S. Supreme Court’s 6-3 decision in Securities and Exchange Commission v. Jarkesy, et al. significantly curtails the SEC’s enforcement powers by ruling that the agency’s administrative adjudication of securities fraud cases seeking civil penalties violates the Seventh Amendment right to a jury trial. This landmark ruling deals a major blow to the SEC’s ability to bring enforcement actions in its in-house administrative forum rather than federal court.
CFPB Releases Summer 2024 Supervisory Highlights | JD Supra
The CFPB has released its Summer, 2024 Supervisory Highlights, covering issues ranging from student loan servicing to financial institution supervision of medical providers offering payment products. The report covers the period from April 1, 2023 to December 31, 2023. Here are key findings from the report: CFPB examiners reported finding several instances of unfair, deceptive or abusive practices at companies servicing auto loans.
CFPB issues report on negative equity in auto financing | JD Supra
A new CFPB report, Negative Equity in Auto Lending, contains an analysis of data relating to the financing of negative equity in vehicle trade-ins. The report uses data collected by the CFPB in response to nine market monitoring orders issued by the CFPB in February 2023. The orders were issued to three banks, three finance companies, and three captive lenders requesting information about their auto lending portfolios.
FTC provides annual report to CFPB regarding activities in 2023 under consumer financial services laws | JD Supra
On May 20, 2004, the Federal Trade Commission (“FTC”) sent its annual report to the Consumer Financial Protection Bureau (“CFPB”) highlighting its enforcement actions and initiatives in 2023 under the Truth in Lending Act (“TILA”), Consumer Leasing Act (“CLA”), and Electronic Fund Transfer Act (“EFTA”).
CFPB alleges dark patterns in suit against fintech peer-to-peer lender | JD Supra
On May 17, 2024, the Consumer Financial Protection Bureau (“CFPB”) filed suit against an online lending platform, alleging, among other things, the use of dark patterns to induce consumers to pay tips and donations, disclosure violations, and usury violations on loans offered through its lending platform.
FTC files opposition to petition challenging CARS Rule in the 5th Circuit | JD Supra
On May 14, 2024, the Federal Trade Commission’s (“FTC”) filed its brief in opposition to Petitioners’ Brief in the legal challenge to the Combating Auto Retail Scams Rule (“CARS Rule”). The petitioners are the National Automobile Dealers Association and Texas Automobile Dealers Association (collectively, “NADA”).
Committee on Judicial Review of the Administrative Conference of the United States develops recommendation to prevent forum shopping | JD Supra
On May 2, 2024, the Committee on Judicial Review of the Administrative Conference of the United States (“ACUS”), an independent federal agency tasked with improving government operations, approved a recommendation that judicial review of agency rulemaking be directed to federal appellate courts and that lawsuits challenging agency rules in district courts should be subject to district-wide assignment to avoid forum shopping.
CFPB report on banking in video games and virtual worlds | JD Supra
On April 4, 2024, the CFPB issued a report examining the growth of financial transactions in online video games and virtual worlds. The report, titled “Banking in Video Games and Virtual Worlds,” highlights the growth and scale of the industry, risks to consumers, and the evolution of games and virtual worlds into online marketplaces.
Update on Petition to Review FTC’s CARS Rule | JD Supra
Petitioners in the challenge to the Federal Trade Commission’s (“FTC”) Combating Auto Retail Scams Rule (“CARS Rule”) filed their Petitioners’ Brief on March 15, 2004 in support of their petition for review, and a who’s who of interested auto industry trade associations have filed amicus briefs in support of the petition. The effective date for the CARS Rule, originally set for July 30, 2024, is currently stayed pending resolution of the court challenge.
CFPB Takes Action Against BloomTech, Inc. for ISAs that Violate TILA, UDAAP, and the FTC’s Holder Rule
On April 17th, the CFPB issued a consent order to a for-profit training school alleging numerous violations of law related to its use if income share agreements (“ISAs”). According to the Bureau, BloomTech, Inc. (“BloomTech”) and the company’s founder and CEO engaged in deceptive and abusive acts or practices, violated the Truth in Lending Act (“TILA”) and Regulation Z, and violated the Federal Trade Commission’s (“FTC”) Holder Rule.
CFPB Spring 2024 Supervisory Highlights looks at consumer reporting companies and furnishers | JD Supra
The CFPB has released the Spring 2024 edition of Supervisory Highlights. The report discusses CFPB examinations in connection with credit reporting and furnishing that were completed from April 1, 2023 through December 31, 2023. Key findings by CFPB examiners are described below.
Court denies motion for expedited consideration of plaintiff’s preliminary injunction motion in credit card late fees suit
On March 20, 2024, the court forcefully denied the motion for expedited consideration of plaintiff’s preliminary injunction motion in the lawsuit challenging the Consumer Financial Bureau’s (“CFPB”) final credit card late fee rule.
Operational impacts of the new CFPB Credit Card Late Fee Rule | JD Supra
On March 5, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final credit card late fee rule (the “Final Rule”), which, amongst other things, significantly reduces the late fee safe harbor cap for issuers other than “smaller card issuers” from the currently permitted $30 (and $41 for repeat violations) to a flat fee of $8 for all violations.
Judicial Conference issues policy regarding random assignment of judges | JD Supra
On March 12, 2024, the Judicial Conference of the United States (“Judicial Conference”) announced that, in an effort to limit the ability of litigants to select judges in certain cases based on where they file lawsuits, it has strengthened its policy regarding random civil case assignments.
Judicial Conference issues policy regarding random assignment of judges
On March 12, 2024, the Judicial Conference of the United States (“Judicial Conference”) announced that, in an effort to limit the ability of litigants to select judges in certain cases based on where they file lawsuits, it has strengthened its policy regarding random civil case assignments.
Appellate court upholds $21 million judgment against for-profit college regarding unfair competition and false advertising claims | JD Supra
On February 20, 2024, the California Court of Appeal largely affirmed an eight-figure judgment against Ashford University (“Ashford”), an on-line, for-profit college, and its parent company, Zovio, Inc. (formerly Bridgepoint Education) for violations based on false and misleading statements to prospective students. Ashford and Zovio had not challenged the trial court’s liability determination, but sought review and reduction of the penalty awarded in that action.
Appellate court upholds $21 million judgment against for-profit college regarding unfair competition and false advertising claims
On February 20, 2024, the California Court of Appeal largely affirmed an eight-figure judgment against Ashford University (“Ashford”), an on-line, for-profit college, and its parent company, Zovio, Inc. (formerly Bridgepoint Education) for violations based on false and misleading statements to prospective students. Ashford and Zovio had not challenged the trial court’s liability determination, but sought review and reduction of the penalty awarded in that action.
Military Lending Act violations alleged against title lender in Georgia class action | JD Supra
A proposed class action lawsuit filed in the U.S. District Court for the Northern District of Georgia on February 21, 2024 against TitleMax of Georgia, Inc. and TMX Finance LLC (together, “TitleMax”) accuses the Georgia-based title and pawn lender of various violations of the Military Lending Act (“MLA”), including charging servicemembers and their dependents interest in excess of the MLA’s 36% rate cap.
Military Lending Act violations alleged against title lender in Georgia class action
A proposed class action lawsuit filed in the U.S. District Court for the Northern District of Georgia on February 21, 2024 against TitleMax of Georgia, Inc. and TMX Finance LLC (together, “TitleMax”) accuses the Georgia-based title and pawn lender of various violations of the Military Lending Act (“MLA”), including charging servicemembers and their dependents interest in excess of the MLA’s 36% rate cap.
CFPB seeks approval for new auto finance data collection | JD Supra
The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget (OMB) for the collection of additional auto finance data pursuant to its authority under the Dodd-Frank Act . In February 2023, the CFPB announced that it had issued market monitoring orders to nine large auto lenders requesting information about their auto lending portfolios. The CFPB published a sample order on its website.
CFPB seeks approval for new auto finance data collection
The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget (OMB) for the collection of additional auto finance data pursuant to its authority under the Dodd-Frank Act . In February 2023, the CFPB announced that it had issued market monitoring orders to nine large auto lenders requesting information about their auto lending portfolios. The CFPB published a sample order on its website.
FTC postpones effective date for CARS Rule in response to legal challenge | JD Supra
On January 18, 2024, the Federal Trade Commission’s (“FTC”) announced that it is postponing the effective date of the Combating Auto Retail Scams Rule (“CARS Rule”) in light of the legal challenge from industry trade associations seeking judicial review of the new rule.
CFPB Report Identifies Challenges Faced by Borrowers in Resumption of Student Loan Payments | JD Supra
The Consumer Financial Protection Bureau highlighted its observations of the resumption of federal student loan payments by consumers after more than three years of a payment moratorium due to COVID-19 in a report released on January 5, 2024.
CFPB report identifies challenges faced by borrowers in resumption of student loan payments
The Consumer Financial Protection Bureau highlighted its observations of the resumption of federal student loan payments by consumers after more than three years of a payment moratorium due to COVID-19 in a report released on January 5, 2024.
Auto dealer trade groups challenge FTC CARS Rule in Fifth Circuit | JD Supra
On January 5, 2024, two trade groups representing auto dealers filed a petition for review challenging the Federal Trade Commission’s (“FTC”) new Combating Auto Retail Scams Rule (“CARS Rule”). In the petition, the National Automobile Dealers Association (“NADA”) and Texas Automobile Dealers Association (“TADA”) ask the United States Court of Appeals for the Fifth Circuit to vacate or modify the rule and stay its enforcement pending resolution of the petition.
Auto dealer trade groups challenge FTC CARS Rule in Fifth Circuit
On January 5, 2024, two trade groups representing auto dealers filed a petition for review challenging the Federal Trade Commission’s (“FTC”) new Combating Auto Retail Scams Rule (“CARS Rule”). In the petition, the National Automobile Dealers Association (“NADA”) and Texas Automobile Dealers Association (“TADA”) ask the United States Court of Appeals for the Fifth Circuit to vacate or modify the rule and stay its enforcement pending resolution of the petition.
FTC issues final CARS Rule setting new requirements on vehicle sales | JD Supra
On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule, otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor vehicle dealers.
FTC issues final CARS Rule setting new requirements on vehicle sales
On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule, otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor vehicle dealers.
CFPB continues to look to creditors to help servicemembers take advantage of SCRA benefits | JD Supra
In a November 1, 2023 blog post titled “Servicemembers continue to face major financial challenges,” the Consumer Financial Protection Bureau highlighted three areas where it is working to secure protections for servicemembers, including the Servicemembers Civil Relief Act’s (“SCRA”) 6% interest rate cap, restrictions on the use of military allotments, and efforts to protect servicemembers from identity theft.
FTC and Wisconsin AG enter into settlements with auto dealerships for alleged discriminatory financing practices deceptive add-on product practices | JD Supra
The Federal Trade Commission and Wisconsin Attorney General have entered into settlements with a group of auto dealerships, their current and former corporate owners, and their general manager for allegedly engaging in unlawful discrimination in connection with financing offered to customers and for allegedly engaging in deceptive practices in connection with the sale of add-on products.
AFSA raises concerns about sufficiency of CFPB’s Supervisory Highlights | JD Supra
In a comment letter sent last week to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, a key financial industry trade group raised concerns that a recent edition of the CFPB’s Supervisory Highlights did not provide sufficient details about the facts or analysis behind the Bureau’s conclusions regarding certain exam findings.
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