In an era where the federal Consumer Financial Protection Bureau has abandoned its consumer protection mission, state attorneys general are determined to carry out theirs. This week, for example, Massachusetts AG Andrea Joy Campbell announced a final consent judgment against debt collectors, debt buyers, and their owners. The judgment reportedly will provide $52 million in […]
Author Archives: Christine Hines
Consumer advocacy organization Protect Borrowers released a proposal this week for states to step up their supervision of the consumer finance market in light of the precipitous decline of federal oversight, i.e. the crippling of the Consumer Financial Protection Bureau, and the rise in new loans and other products. Specifically, Protect Borrowers recommends that states open […]
The FTC announced last Friday that it will no longer enforce policies against “disparate-impact or unfair discrimination” claims. This will affect the agency’s once active enforcement against auto dealers’ discriminatory financing practices that cheat minority car buyers. In 2022, for example, the Commission alleged that Passport Auto, a Washington D.C.-area auto dealer, violated the FTC […]
The Federal Trade Commission published a policy statement on artificial intelligence in the Federal Register on July 7. Public comments are due July 31. Formally, the policy statement addresses application of section 5 of the FTC Act “to companies that market AI systems.” Section 5 prohibits unfair and deceptive practices in the marketplace. Every state […]
A federal court’s consideration of the Consumer Financial Protection Bureau’s plan to lay off employees is temporarily delayed pending the nomination of a new director. More than a year ago, the National Treasury Employees Union sued the CFPB’s Acting Director Russell Vought and others, seeking to halt the rushed attempt to mass fire employees and […]
Americans for Financial Reform published a report card on how members of Congress have voted so far in this session on financial services issues. The report documents member votes on CFPB-related legislation, including on the 2025 resolutions that repealed agency regulations. It also covers members’ floor votes on crypto-related legislation, including the Genius Act and […]
State class actions in Virginia are not happening yet. This week, Va. Gov. Abigail Spanberger vetoed SB229/HB449, a bill that finally would have established a state-level class action process. Although Va. consumers can participate in federal class actions, the bill would have filled a gap for them to band together to pursue claims that are […]
Public interest groups filed an amicus brief this past week in the case Gemini Trust Company, LLC v. National Association of Consumer Advocates, Inc. (NACA), opposing the company’s attempt to force arbitration of the dispute. In 2024, *NACA sued Gemini, a cryptocurrency exchange, in the District of Columbia Superior Court, alleging that the company’s terms […]
Will the Federal Trade Commission bring back its “click to cancel” rule? The FTC on Wednesday announced an “advance notice of proposed rulemaking,” inviting public feedback on whether to amend its regulation for automatic subscriptions (negative option rule). In October 2024, after years of observing rampant abuse of subscription traps harming consumers, the FTC finalized […]
The student loan delinquency rate for student loan borrowers grew from roughly zero to nearly 25 percent in 2025, according to a devastating report from The Century Foundation and Protect Borrowers. The report found that nearly 9 million student loan borrowers—or, one out of every five borrowers—are in default. Further, 3/4 of borrowers moving from […]