The Consumer Financial Protection Bureau filed suit this week against All American Check Cashing, Inc., which offers check cashing and payday loans, and its owner, for allegedly tricking and trapping consumers. The complaint alleges that All American tried to keep consumers from learning how much they would be charged to cash a check and used […]
Author Archives: Allison Zieve
The Second Circuit Court of Appeals held yesterday that a class-action lawsuit against the Department of Education by former students of a now-defunct for-profit beauty school can proceed. The students sued the Department for aggressive collection tactics against students who likely had the right to discharge their loans. Courthouse News offers this summary: Former […]
Payday lenders will lose access to Google’s biggest online ads network in mid-July. From that point on, search results pages will stop displaying paid marketing from payday lenders. ThinkProgress has the story.
A recent Consumer Reports survey of 1,005 adults found that more than half of consumers seek out foods with the word "natural" on the label, often in the false belief that the foods were produced without genetically modified organisms, hormones, pesticides, or artificial ingredients. But on food labels, the word does not necessarily mean any […]
Think Progress reports that traditional are planning to jump into the market for low-rate loans after the Consumer Financial Protection Bureau finalizes rules on payday and auto title lending. Relying on an American Banker article (subscription required), it says that at least three major American banks are planning to offer comparable loans at far lower […]
The Federal Trade Commission has charged the operators of dozens of companies with deceiving consumers by using fake newspaper subscription notices. According to the FTC’s complaint, through a complicated web of companies, the defendants send consumers “Notice of Renewal/New Order” mailers for subscriptions to newspapers such as The New York Times, The Wall Street Journal, […]
Marketers of green coffee bean extract weight-loss supplements, male enhancement products, and skin care products will forfeit assets totaling approximately $9.2 million, and have already turned over a Ferrari to settle the Federal Trade Commission’s court action brought against them in October 2014. The proposed stipulated final order bans individual defendants Danelle Miller and Jason […]
The Consumer Financial Protection Bureau announced yesterday the "Payback Playbook"—a set of prototype disclosures that outline a path to affordable payments for borrowers trying to avoid student debt distress. The CFPB explained that Payback Playbook provides borrowers with personalized information about their repayment options from loan servicers so they can secure a monthly payment they […]
A new study by the Centers for Disease Control and Prevention found a link between exposure to e-cigarette advertisements and the use of e-cigarettes by middle and high school students. The study is the first to assess the link between exposure to e-cigarette advertising and current e-cigarette use, and it concludes that efforts to reduce […]
Yesterday, the Consumer Financial Protection Bureau ordered the debt collection law firm Pressler & Pressler, LLP, two principal partners, and New Century Financial Services, Inc., a debt buyer, to stop churning out unfair and deceptive debt collection lawsuits based on flimsy or nonexistent evidence. The consent orders bar the companies and individuals from illegal practices […]