The Consumer Financial Protection Bureau just announced that it ordered TD Bank to pay $28 million in fines and in consumer redress over the bank’s credit reporting practices. It is the CFPB’s second enforcement action against TD Bank. “For years, the bank repeatedly shared inaccurate, negative information about its customers to consumer reporting companies. The […]
Author Archives: Christine Hines
The Consumer Financial Protection Bureau and the Federal Trade Commission this week issued their annual reporting of their debt collection activities. The CFPB, required under the Consumer Financial Protection Act to report to Congress annually on its activities to administer the Fair Debt Collection Practices Act, recounted its ongoing work on medical debt. Notably, in […]
As the country turns to clean and efficient energy alternatives, federal consumer agencies have come together to warn consumers about fraud and misconduct in the residential solar panel market. The U.S. Department of the Treasury, the Consumer Financial Protection Bureau, and the Federal Trade Commission released consumer advisories advising the public on how to spot […]
One of the insidious sides of junk fees is that these charges tacked on to everyday goods and services are often hidden and mandatory. This is evident in the Consumer Financial Protection Bureau’s latest report, Costs of Electronic Payments in K-12 Schools, which describes the hidden fees in online processing systems that facilitate payment for […]
A federal court this month issued an order, in a case filed by the Federal Trade Commission, to temporarily stop a predatory student loan relief scam that targeted Puerto Rican, Spanish-speaking borrowers. According to the FTC’s complaint against USA Student Debt Relief/Start Connecting SAS, operating out of Florida and Cali, Colombia, these entities falsely represented […]
The Consumer Financial Protection Bureau is ready to take on predatory lending again. After the payday lenders association delayed a rule for years with a lawsuit challenging the regulation as well as the bureau’s constitutionality – a challenge the payday loan industry recently lost before the Supreme Court – the CFPB is bringing payday protections […]
Consumer Financial Protection Bureau Director Rohit Chopra appeared before the U.S. Senate Banking Committee Wednesday, and the U.S. House Committee on Financial Services on Thursday, to testify on the CFPB’s semi-annual report to Congress. The hearings took place a few weeks after the Supreme Court confirmed that the Bureau’s congressionally-designated funding via the Federal Reserve […]
Washington, D.C. or Texas. Which jurisdiction will ultimately hear the merits of an industry lawsuit challenging the Consumer Financial Protection Bureau’s rule to limit credit card late fees? For the second time since the industry lawsuit against the CFPB was filed in March, the Fifth Circuit Court of Appeals paused a U.S. District Court for […]
Following an investigation of the largest wireless providers’ advertising, marketing, and sales practices, 50 state AGs announced a settlement to discourage misleading and deceptive conduct. The cell phone companies agreed to pay a total of $10.25 million to change their practices. Specifically, the AGs investigated the sales tactics of AT&T Mobility, LLC, Cellco Partnership (doing […]
The Federal Trade Commission just updated its Health Breach Notification Rule to revise definitions and clarify its coverage to include developers of health mobile apps and other technology. The rule, which requires vendors to notify affected consumers and the FTC following a data breach affecting personal health records, also requires additional information in notices to […]