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Articles by Tierney Smith
5 Seconds of Summer’s Everyone’s a Star! Tour at Mohegan Sun
5 Seconds of Summer stunned Mohegan Sun in Uncasville, Connecticut with their Everyone’s a Star! Tour. The band that released hits like “She Looks So Perfect” and “Youngblood” took the stage on May 29. Following The 5 Second of Summer Show Tour in 2023, this is their most creative and over-the-top tour yet. When walking through the arena, fans were wearing the bands old T-shirts and star themed outfits. There truly is nothing like seeing a fanbase come together to support their favorite artists.
CFPB Is Proceeding With Some Of Its Enforcement Actions, But Most Are Now Stayed Or Dismissed
Although the Consumer Financial Protection Bureau (CFPB or Bureau) voluntarily dismissed a slew of its own enforcement actions following Rohit Chopra's removal as CFPB Director on January 31, 2025, the Bureau has affirmatively indicated its intent to continue litigating only a handful of cases so far. There were, by our count, 36 pending CFPB enforcement suits at the time of the change in administration, but only 24 of those remain open now.
CFPB Recounts Statement Of Interest About EFTA's Applicability To Wire Transfers
On Tuesday, March 25, 2025, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a motion in a suit brought by the New York attorney general against a major national bank seeking to withdraw a Statement of Interest the Bureau filed last year, which advanced a "novel" interpretation of the Electronic Fund Transfer Act's (EFTA) applicability to online-initiated wire transfers.
CFPB Recounts Statement of Interest About EFTA’s Applicability to Wire Transfers | JD Supra
On Tuesday, March 25, 2025, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a motion in a suit brought by the New York attorney general against a major national bank seeking to withdraw a Statement of Interest the Bureau filed last year, which advanced a “novel” interpretation of the Electronic Fund Transfer Act’s (EFTA) applicability to online-initiated wire transfers.
CFPB is Proceeding with Some of Its Enforcement Actions, But Most Are Now Stayed or Dismissed | JD Supra
Although the Consumer Financial Protection Bureau (CFPB or Bureau) voluntarily dismissed a slew of its own enforcement actions following Rohit Chopra’s removal as CFPB Director on January 31, 2025, the Bureau has affirmatively indicated its intent to continue litigating only a handful of cases so far. There were, by our count, 36 pending CFPB enforcement suits at the time of the change in administration, but only 24 of those remain open now.
CFPB Issues New Supervisory Highlights Report | JD Supra
On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) released a Supervisory Highlights report covering findings from its examinations completed between July 2022 and March 2023 (the Report), which found, among other violations, several instances of unfair, deceptive, and abusive acts or practices related to auto lending, and illegal collection of medical debt and debt on payday loans.
FTC Approves Consent Order With Payment Card Network Operator For EFTA Violations
On May 30, 2023, the Federal Trade Commission (FTC) announced that it had finalized a consent order with one of the nation's largest credit and debit card providers in an administrative action regarding alleged violations of the Electronic Funds Transfer Act (EFTA), as amended, 15 U.S.C. § 1693o-2, and its implementing regulation, Regulation II, 12 C.F.R. § 235 et seq.
FTC Approves Consent Order with Payment Card Network Operator for EFTA Violations | JD Supra
On May 30, 2023, the Federal Trade Commission (FTC) announced that it had finalized a consent order with one of the nation’s largest credit and debit card providers in an administrative action regarding alleged violations of the Electronic Funds Transfer Act (EFTA), as amended, 15 U.S.C. § 1693o-2, and its implementing regulation, Regulation II, 12 C.F.R. § 235 et seq.
FTC Approves Consent Order with Payment Card Network Operator for EFTA Violations
On May 30, 2023, the Federal Trade Commission (FTC) announced that it had finalized a consent order with one of the nation’s largest credit and debit card providers in an administrative action regarding alleged violations of the Electronic Funds Transfer Act (EFTA), as amended, 15 U.S.C. § 1693o-2, and its implementing regulation, Regulation II, 12 C.F.R. § 235 et seq.
Second Circuit Rules CFPB Constitutionally Funded, Creates Circuit Split | JD Supra
On Thursday March 23, 2023, a three-judge panel of the Second Circuit unanimously ruled that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional, creating a circuit split between the Second Circuit and the Fifth Circuit on the issue. CFPB v. Law Offices of Crystal Moroney, P.C., No. 20-3471 (decided March 23, 2023) ().
Agency Actions Show Shared Focus On Digital Ad Tactics | JD Supra
Coordinated actions taken by federal regulators and enforcement agencies over the last year have demonstrated a new focus on assailing two distinct practices in digital advertising: the use of algorithms for targeting specific consumers and deceptive online marketing techniques, or dark patterns.
CFPB Proposes Rule That Nonbanks Must Publicly Register with CFPB When They Use Certain Terms and Conditions in Form Contracts | JD Supra
On January 11, 2023 the Consumer Financial Protection Bureau (CFPB) proposed a rule (“Proposed Rule”) that would require “most nonbanks subject to the Bureau’s supervisory authority” to “register annually in [a] system” that is created and operated by the CFPB when their form contracts “use certain terms or conditions that seek to waive consumer rights or other legal protections or limit the ability of consumers to enforce or exercise their rights.” Proposed Rule at 3.
CFPB Proposes Rule That Nonbanks Subject to Certain Public Orders Must Publicly Register with CFPB As a Means of Detecting “Repeat Offenders”
On December 12, 2022, the Consumer Financial Protection Bureau (“CFPB”) proposed a rule (“Proposed Rule”) that would require non-bank financial institutions to register with the CFPB when they become subject to certain final public orders by a Federal, State, or local government agency in connection with the offering or provision of a consumer financial product or service.
CFPB Proposes Rule That Nonbanks Subject to Certain Public Orders Must Publicly Register with CFPB As a Means of Detecting “Repeat Offenders” | JD Supra
On December 12, 2022, the Consumer Financial Protection Bureau (“CFPB”) proposed a rule (“Proposed Rule”) that would require non-bank financial institutions to register with the CFPB when they become subject to certain final public orders by a Federal, State, or local government agency in connection with the offering or provision of a consumer financial product or service.
Pennsylvania AG Sues Lead Generators For Deceptive Ads
On November 2, 2022, the Pennsylvania Office of Attorney General filed a lawsuit in federal court alleging that a group of companies offering lead generation services violated the Telemarketing Sales Rule ("TSR"), 16 C.F.R. Part 310, and Pennsylvania consumer protection law, 73 P.S. §§ 201-3 and 201-4, by engaging in two improper advertising practices.
Pennsylvania AG Sues Lead Generators For Deceptive Ads | JD Supra
On November 2, 2022, the Pennsylvania Office of Attorney General filed a lawsuit in federal court alleging that a group of companies offering lead generation services violated the Telemarketing Sales Rule (“TSR”), 16 C.F.R. Part 310, and Pennsylvania consumer protection law, 73 P.S. §§ 201-3 and 201-4, by engaging in two improper advertising practices.
Pennsylvania AG Sues Lead Generators For Deceptive Ads
On November 2, 2022, the Pennsylvania Office of Attorney General filed a lawsuit in federal court alleging that a group of companies offering lead generation services violated the Telemarketing Sales Rule (“TSR”), 16 C.F.R. Part 310, and Pennsylvania consumer protection law, 73 P.S. §§ 201-3 and 201-4, by engaging in two improper advertising practices.
CFPB Issues Consent Order Against Money Transfer Company for Remittance Failures | JD Supra
On October 4, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it has issued a consent order against a nonbank provider of a money transfer service for multiple violations of the Electronic Fund Transfer Act (EFTA), 15 U.S.C. § 1693 et seq., and its implementing Regulation E, 12 C.F.R. Part 1005, including that the company did not accurately disclose certain money transfer fees, exchange rates or the date the recipient would receive the funds.
CFPB Issues Consent Order Against Money Transfer Company for Remittance Failures
On October 4, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it has issued a consent order against a nonbank provider of a money transfer service for multiple violations of the Electronic Fund Transfer Act (EFTA), 15 U.S.C. § 1693 et seq., and its implementing Regulation E, 12 C.F.R. Part 1005, including that the company did not accurately disclose certain money transfer fees, exchange rates or the date the recipient would receive the funds.
CFPB and DOJ Order Mortgage Company to Pay Over $22 Million for Advertising and Marketing Discrimination
On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint and proposed consent order in a federal district court alleging that a mortgage company intentionally discriminated against families living in majority-minority neighborhoods around Philadelphia in violation of the Fair Housing Act (FHA), the Equal Credit Opportunity Act (ECOA), and the Consumer Financial Protection Act of 2010 (CFPA).
CFPB and DOJ Order Mortgage Company to Pay Over $22 Million for Advertising and Marketing Discrimination
On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint and proposed consent order in a federal district court alleging that a mortgage company intentionally discriminated against families living in majority-minority neighborhoods around Philadelphia in violation of the Fair Housing Act (FHA), the Equal Credit Opportunity Act (ECOA), and the Consumer Financial Protection Act of 2010 (CFPA).
DOJ Settles With Social Media Company To Resolve Fair Lending And Discriminatory Advertising Allegations
On June 21, 2022, the U.S. Department of Justice (DOJ) filed a complaint and settlement agreement in federal court alleging that a social media company is in violation of the Fair Housing Act (FHA), 42 U.S.C. §§ 3601-3619, for employing tools that allow advertisers of housing-related services to exclude certain users from seeing their ads based on the users' race, color, religion, sex, disability, familial status and national origin, which are FHA-protected characteristics.
DOJ Settles with Social Media Company to Resolve Fair Lending and Discriminatory Advertising Allegations | JD Supra
On June 21, 2022, the U.S. Department of Justice (DOJ) filed a complaint and settlement agreement in federal court alleging that a social media company is in violation of the Fair Housing Act (FHA), 42 U.S.C. §§ 3601-3619, for employing tools that allow advertisers of housing-related services to exclude certain users from seeing their ads based on the users’ race, color, religion, sex, disability, familial status and national origin, which are FHA-protected characteristics.
FDIC Issues Final Rule on False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo
On May 17, 2022, the Federal Deposit Insurance Corporation (FDIC) announced its adoption of a final rule implementing Section 18(a)(4) of the Federal Deposit Insurance Act, which prohibits any person from misusing the FDIC’s name or logo to misrepresent their deposit insurance status.
CFPB Sues TransUnion And Senior Executive For Violating Law Enforcement Order Prohibiting Deceptive Marketing
United States: CFPB Sues TransUnion And Senior Executive For Violating Law Enforcement Order Prohibiting Deceptive Marketing 25 April 2022 Goodwin Procter LLP On April 12, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in federal court against TransUnion, two of its subsidiaries, and its longtime executive for failing to implement requirements of the CFPB's 2017 law enforcement order to TransUnion, and for violating Regulation V, which implements...
CFPB Sues TransUnion and Senior Executive for Violating Law Enforcement Order Prohibiting Deceptive Marketing | JD Supra Original
On April 12, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a lawsuit in federal court against TransUnion, two of its subsidiaries, and its longtime executive for failing to implement requirements of the CFPB’s 2017 law enforcement order to TransUnion, and for violating Regulation V, which implements the Fair Credit Reporting Act and the Electronic Fund Transfer Act.
CFPB Proposes Rule to Assist Survivors of Human Trafficking in Obtaining Credit | JD Supra
On April 7, 2022, the Consumer Financial Protection Bureau (CFPB) announced it is proposing a rule that would assist survivors of human trafficking in achieving financial independence. The proposed rule would aid survivors of human trafficking seeking to open bank accounts, access credit, and gain employment, by preventing credit reporting agencies (CRAs) from reporting negative information about the survivors resulting from their abuse.
CFPB Proposes Rule to Assist Survivors of Human Trafficking in Obtaining Credit
On April 7, 2022, the Consumer Financial Protection Bureau (CFPB) announced it is proposing a rule that would assist survivors of human trafficking in achieving financial independence. The proposed rule would aid survivors of human trafficking seeking to open bank accounts, access credit, and gain employment, by preventing credit reporting agencies (CRAs) from reporting negative information about the survivors resulting from their abuse.
California DFPI Issues Guidance To Financial Institutions Regarding Russia Sanctions
United States: California DFPI Issues Guidance To Financial Institutions Regarding Russia Sanctions 22 March 2022 Goodwin Procter LLP To print this article, all you need is to be registered or login on Mondaq.com.
California DFPI Issues Guidance to Financial Institutions Regarding Russia Sanctions
On March 4, 2022, the California Department of Financial Protection and Innovation (DFPI) issued a reminder to its financial institution licensees regarding their obligations in light of the Russian invasion of Ukraine: comply with U.S. sanctions on Russia, and employ safeguards to protect against attempts to use virtual currency transfers to evade sanctions and mitigate cybersecurity threats.
CFPB Encourages Consumers To
United States: CFPB Encourages Consumers To "Hold Accountable" Consumer Reporting Companies By Filing Disputes And FCRA Lawsuits 09 February 2022 Goodwin Procter LLP To print this article, all you need is to be registered or login on Mondaq.com.
CFPB Encourages Consumers To “Hold Accountable” Consumer Reporting Companies By Filing Disputes and FCRA Lawsuits | JD Supra
On January 27, 2022, the Consumer Financial Protection Bureau (CFPB) published its updated annual list of consumer reporting companies for the purpose of encouraging consumers to seek access to their files, and sue if they believe there is a Fair Credit Reporting Act (FCRA) violation.
Emory Law Journal Reports New Studies That Authors Claim Show Racial Inequities in Lender Advertisements | JD Supra
A new essay published in the Emory Law Journal argues that two empirical studies of advertising by certain banks and payday lenders in Houston, Texas indicate that payday lenders steer African Americans and Latinos to their products, while banks market primarily to white consumers. The authors suggest that, consistent with the results of their studies, mainstream banks should audit themselves to detect whether they are failing to market to African Americans and Latinos.
District Court Approves $14 Million Settlement Against HelloFresh in TCPA Class Action | JD Supra
On October 15, 2021, Judge William G. Young of the United States District Court for the District of Massachusetts approved a $14 million settlement in a national class action lawsuit against meal-kit delivery service company, HelloFresh, for purported violations of the Telephone Consumer Protection Act (TCPA). See Murray v. Grocery Delivery E-Services USA Inc., No. 1:19-cv-12608.
CFPB Finalizes Amendments to Regulation X to Protect Borrowers Against Forthcoming Increase In COVID-19 Foreclosures | JD Supra
On June 28, 2021, the Consumer Financial Protection Bureau (CFPB) finalized amendments to the implementing regulation of the Real Estate Settlement Procedures Act (RESPA), Regulation X, which would establish temporary protections for mortgage borrowers as the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and various Federal and State foreclosure moratoria are phased out over the summer. 12 C.F.R. § 1024 (2021).
Ninth Circuit Stays Mandate in Seila Law Pending Resolution of Petition to Supreme Court | JD Supra
On June 1, 2021, the Ninth Circuit, in CFPB v. Seila Law LLC, No. 17-56324, granted Seila Law LLC’s motion to stay the mandate requiring its compliance with a civil investigative demand, while it petitions the U.S. Supreme Court for a writ of certiorari on the question of whether the ratification of the Consumer Financial Protection Bureau’s (CFPB) demand is an appropriate remedy for the separation-of-powers violation identified by the Supreme Court last year.
CFPB Seeks to Hold Mortgage Servicers Accountable, and Establish New Mechanisms for Protecting Borrowers, Against Forthcoming Increase In COVID-19 Foreclosures | Goodwin - JDSupra
This month the Consumer Financial Protection Bureau (CFPB) doubled-down on its earlier warning that the end of 2021 could see widespread foreclosures as COVID-19-related protections expire, by issuing guidance to mortgage servicers, and a notice of proposed rulemaking, regarding actions mortgage servicers can take to deal with the onslaught.
CFPB Issues Report on Housing Insecurity and COVID-19 | JD Supra
On March 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued a report titled “Housing Insecurity and the COVID-19 Pandemic” (the Report), which summarizes some of the relevant data and research on the impact of the pandemic on the mortgage market. The Report warns of widespread foreclosures once federal, state, and local pandemic protections come to an end.
Pennsylvania AG Sues Five Companies Involved in Alleged Mortgage Modification Scam | JD Supra
On July 26, 2018, the Attorney General for the Commonwealth of Pennsylvania announced a lawsuit against five Pennsylvania mortgage foreclosure companies and two company owners for cheating consumers into signing contracts to have their mortgage loans modified—but never delivering the services paid for—in violation of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law, 73 P.S. § 201 et seq., and the Pennsylvania Mortgage Licensing Act, 7 Pa. C.S.A. § 6101 et seq.
President Biden Nominates Rohit Chopra as Next CFPB Director | JD Supra
President Joe Biden announced that he will nominate Rohit Chopra, one of two Democratic commissioners at the Federal Trade Commission (FTC), as the next Director of the Consumer Financial Protection Bureau (CFPB, or the Bureau). This announcement came just days before Kathleen Kraninger, the current CFPB Director who has led the agency since 2018, submitted her resignation at the President’s request.
Five Federal Financial Agencies Propose Rule to Clarify Role of Supervisory Guidance | JD Supra
On November 5, 2020, the Federal Register published five federal financial regulatory agencies’ invitation for comment on a notice of proposed rulemaking (NPR) that would codify the agencies’ Interagency Statement Clarifying the Role of Supervisory Guidance, as amended, which was issued on September 11, 2018 (2018 Statement).
White House Issues Memorandum Urging Federal Agencies to Adopt Protections for Subjects of Enforcement | JD Supra
On August 31, 2020, the Office of Information and Regulatory Affairs (OIRA), an arm of the Office of Management and Budget (OMB) within the Executive Branch, issued a memorandum (M-20-31 memorandum) directing the heads of federal executive departments and agencies to revise their procedures and practices in light of “the principles of fairness in administrative enforcement and adjudication.” The M-20-31 memorandum was issued to implement Section 6 of Executive Order 13924, which reflects the...
CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector | JD Supra
REGULATORY DEVELOPMENTS FSOC Issues Statement on Proposed Capital Rule for Fannie Mae and Freddie Mac On September 25, the FSOC released a Statement on Activities-Based Review of Secondary Mortgage Market (Statement).
CFPB and 47 States Enter Settlement with Holder of Private Student Loans for Allegedly Providing Substantial Assistance in For-Profit Educator’s Unfair Practices | Goodwin - JDSupra
On September 15, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had filed a proposed stipulated judgment against a Delaware statutory trust after a settlement agreement was reached between the trust and forty-seven states plus the District of Columbia. The trust was created to purchase and hold beneficial ownership of third-party private student loans entered into by or originated to students of for-profit ITT Educational Services, Inc. (“ITT”) schools.
New York Department of Financial Services Files Charges Against Debt Collector for Failing to Substantiate Debts | JD Supra
On September 16, 2020, the New York Department of Financial Services (“DFS”) announced it filed a statement of charges against a debt collector over the debt collector’s alleged failure to comply with New York State’s Debt Collection Regulation, Part 1 of Title 23 of the New York Codes, Rules, and Regulations.
NY Attorney General Settles with Debt Collection Company Over Allegedly Unlawful Student Loan Debt Collection Practices | JD Supra
On September 14, 2020, New York Attorney General Letitia James announced that she secured protections for thousands of student borrowers who defaulted on student loans and who were allegedly subject to misleading and unlawful actions by one of the nation’s largest debt collectors.
CFPB Settles with Mortgage Company to Address Deceptive Loan Advertisements Sent to Servicemembers and Veterans | JD Supra
On September 14, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had entered into a consent order with a mortgage broker and lender that advertises and offers mortgage loans guaranteed by the United States Department of Veterans Affairs (VA) through direct-mail advertisements sent primarily to United States military servicemembers and veterans.
Third Circuit Court Allows Case Against Student Loan Giant to Move Forward | JD Supra
On July 27, 2020, Pennsylvania Attorney General Josh Shapiro announced that his office had obtained an important win in a decision from the United States Court of Appeals for the Third Circuit, as part of the Office of Attorney General’s ongoing court battle with the nation’s second-largest servicer of federal and private student loans.
FTC Announces Settlement with Company Who Allegedly Used Robocalls to Target Cash-Strapped Consumers | JD Supra
On July 24, 2020, the Federal Trade Commission (FTC) announced that it settled charges with the operators of a Florida-based company that allegedly defrauded financially-distressed and often older-adult consumers with deceptive robocalls. The proposed court order would ban the defendants from selling debt relief services and from all telemarketing based on their alleged violations of the FTC Act, 15 U.S.C. § 41 et seq., and the Commission’s Telemarketing Sales Rule.
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