The Fair Credit Reporting Act provides that consumers that establish a consumer reporting agency has willfully failed to comply with the statute’s requirement may recover either (1) their actual damages, or (2) “damages of not less than $100 and not more than $1,000.” In Santos v. Healthcare Revenue Recovery Group, LLC, Experian argued that, in order […]
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 […]
More about the lower court opinion here. Given the Fifth Circuit’s politics, I’m not sure things will fare any better there, but hope is the thing with feathers. Even the Fifth Circuit must reach the correct decision sometimes.
Federal Trade Commission Chair Lina Khan is featured in a Politico piece published today on the growing antitrust movement and its popularity with law students. Possibly the line of the piece: “Critics have called it “hipster” antitrust, but make no mistake: Antitrust is hip.” Chair Khan is also scheduled to speak Nov. 10 at Federalist […]
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 Consumer Financial Protection Bureau just announced a proposed rule under section 1033 of the Consumer Financial Protection Act of 2010 to address personal financial data rights that would ensure consumers have certain protections and control over their information. Among other things the rule would: Require financial institutions to share data with other entities at […]
In March, as a result of a lawsuit brought by the California Reinvestment Coalition, the CFPB finalized a rule under Section 1071 of the Consumer Financial Protection Act, requiring lenders to collect and report information about small business credit applications. Today, by a vote of 53-44, the Senate voted to invalidate the measure under the […]