The Federal Trade Commission has finalized a new rule to fight two common types of illegal tactics consumers face when buying a car: bait-and-switch tactics and hidden junk fees. The FTC expects the rule to save consumers nationwide more than $3.4 billion and an estimated 72 million hours each year shopping for vehicles. The FTC’s […]
Author Archives: Allison Zieve
The Center for Justice & Democracy has published a report titled “Kicked Out of Court in 2023 – 50 Cases Showing the Real-World Impact of Forced Arbitration.” The introduction explains: Mistreatment by tech giants like TikTok. Automobiles and appliances sold with dangerous defects. Nude photos posted online by medical offices. Farms and crops ruined due […]
This week, the Consumer Financial Protection Bureau ordered Bank of America to pay a $12 million penalty for submitting false mortgage lending information to the federal government under a long-standing federal law. For at least four years, hundreds of Bank of America loan officers failed to ask mortgage applicants certain demographic questions as required under […]
The Federal Trade Commission is sending more than $3 million in refunds to businesses that paid for memberships to HomeAdvisor, Inc., a company affiliated with Angi (formerly known as Angie’s List). The agency is also sending claim forms to businesses that are eligible for additional refunds. The refunds stem from FTC allegations that HomeAdvisor used […]
The Washington Post reports: “From airlines to ticket sellers, companies fight U.S. to keep junk fees. An array of powerful moneyed lobbyists have warred with the Biden administration over its new regulatory crackdown as they scramble to protect their profits.” The full article is here.
The Consumer Financial Protection Bureau announced today that it has ordered Citi to pay $25.9 million in fines and consumer redress for intentionally and illegally discriminating against credit card applicants the bank identified as Armenian American. The CFPB explains: “From 2015 through 2021, Citi singled out for discrimination applicants for certain credit card products, based […]
The Consumer Financial Protection Bureau is proposing to supervise larger nonbank companies that offer services like digital wallets and payment apps. The CFPB explains: “Driven largely by Big Tech and other large technology firms, digital payment apps and wallets continue to grow in popularity, but many of the companies are not subject to CFPB supervisory […]
The Department of Education has levied a $37.7 million fine against Grand Canyon University for allegedly misleading more than 7,500 former and current students about the cost of its doctoral programs. The Washington Post reports that, “Grand Canyon, which enrolls more than 118,000 students mostly online, disputes the charges and said it ‘will take all […]
The Federal Trade Commission issued 3 press releases this morning: FTC Case Leads to Permanent Ban Against Merchant Cash Advance Owner for Deceiving Small Businesses, Seizing Personal and Business Assets FTC Releases Reports on Cigarette and Smokeless Tobacco Sales and Marketing Expenditures for 2022 FTC Sends Nearly $100 Million in Refunds to Vonage Consumers Who […]
The Supreme Court on Friday agreed to hear a case called Cantero v. Bank of America, concerning preemption under the National Bank Act. The petition describes the issue this way: “At least thirteen states have enacted laws requiring mortgage lenders to pay a minimum interest rate on funds held in mortgage escrow accounts. Congress has […]