Here in the American Banker (behind a paywall but should be available on Lexis). The article includes some troubling observations, including that despite a Paoletta memo claiming that the Bureau under Trump will focus on consumer fraud, the dismissed cases include at least one case involving deceptive marketing. The article does mention some cases that […]
Category Archives: Unfair & Deceptive Acts & Practices (UDAP), including Discrimination
Consumer Bankers Association so reports here. The dismissal is with prejudice. For a critique of the district court opinion holding that discrimination is not unfair, go here.
The stipulation of dismissal is here. Here’s some of what the Bureau had said earlier about the case: The Bureau alleges that SoLo’s advertisements and loan disclosures tout no-interest loans when, in fact, virtually all loans on the SoLo Platform include a lender “tip” that goes to the lender, a SoLo “donation” that goes to […]
As the federal government as we know it is eliminated, it is good to see a positive pro-consumer opinion out of the Eleventh Circuit today. In Booze v. Ocwen Loan Servicing, the Court of Appeals considered a question that had divided district courts–whether the FDCPA prohibits loan servicers from collecting “pay-to-pay” or “convenience” fees for the […]
The notice arrived Saturday morning. Rohit Chopra’s tenure as director of the Consumer Financial Protection Bureau had ended — by the new administration — well short of the completion of his five-year term. The past week was filled with grumbling from various industry corners and inquiring journalists wondering why Chopra had not already been forced […]
The US airline industry challenged DOT rules issued by the last administration that required airlines to disclose certain fees upfront when potential customers search for itineraries, The petitions for review included both constitutional and statutory challenges, as well as procedural challenges. A motions panel of the Fifth Circuit had stayed the Rule, and today, the […]
Yesterday, over a dissent, the Fifth Circuit vacated the FTC’s CARS rule, which protected consumers from unfair and deceptive practices by car dealers. While the challengers lobbed many wide-ranging arguments that called into question the FTC’s authority broadly, the Fifth Circuit based its ruling solely on the agency’s failure to issue an Advanced Notice of […]
Over the past two weeks, the Department of Transportation has taken actions against several airlines for what the Department refers to as “chronically delayed flights,” suggesting violations of consumer protections. According to DOT, the airlines are effectively misleading customers as to the actual times of the flights, because these flights so infrequently depart at those […]
CashCall is a lender that makes unsecured, high-interest loans to consumers via a related company incorporated under the laws of the Cheyenne River Sioux Tribe. In 2022, the Ninth Circuit decided CFPB v. CashCall, in which it affirmed a district court’s finding, after a bench trial, that CashCall committed an unfair, deceptive, or abusive act […]
Adam Feibelman of Tulane University has written Relocating the Community Reinvestment Act. Here’s the abstract: The Community Reinvestment Act was enacted in 1977 to address the failure of financial institutions to provide credit and financial services in low-income communities, especially Black neighborhoods. The Act is part of a family of legal regimes, including the Home […]