Consumer Protection & Privacy

Recent Posts

FTC Announces “Operation Collection Protection”
Posted on 11 Nov 2015 by Ballard Spahr LLP

The Federal Trade Commission (FTC) yesterday announced its new coordinated effort against unlawful debt collection practices, “Operation Collection Protection.” The FTC also announced that federal, state and local law enforcement agencies... Read More

CFPB May Sue PayPal Over Its Payment Services
Posted on 22 Apr 2015 by Troutman Sanders

by H. Scott Kelly and Michael E. Lacy On April 9, PayPal Holdings Inc . (“PayPal”) issued a regulatory filing indicating that it may soon face a lawsuit from the Consumer Financial Protection Bureau . The CFPB is targeting the activities... Read More

CFPB Sues Company and Owner for Alleged Student Financial Aid Scam
Posted on 3 Nov 2015 by Doug Esten

by Barbara S. Mishkin A new lawsuit filed by the CFPB in a California federal district court alleges that the defendants, a company and its individual owner, are engaged in a nationwide student financial aid scam. In addition to injunctive relief,... Read More

Challenge to CFPB’s Constitutionality Reemerges
Posted on 29 Jul 2015 by Ballard Spahr LLP

by Barbara S. Mishkin The issue of the CFPB’s constitutionality reemerged last week in court and Congress. On the judicial front, the U.S. Court of Appeals for the D.C. Circuit, in State National Bank of Big Spring, Texas, et al. v. Lew, et... Read More

CFPB Orders Another Auto Lender to Pay $3.28 Million to Settle Claims for Illegal Debt Collection Involving Service Members
Posted on 3 Nov 2015 by Troutman Sanders

by Ethan G. Ostroff , Keith J. Barnett and Alan D. Wingfield On October 28, the Consumer Financial Protection Bureau filed an administrative consent order against Security National Automotive Acceptance Company (“SNAAC”), an Ohio auto lender... Read More

CFPB Fines Mortgage Servicer $1.5 Million for Failing to Honor Loan Modifications after Service Transfers
Posted on 5 Aug 2015 by Troutman Sanders

by D. Kyle Deak , Jason Manning and John C. Lynch On July 30, the Consumer Financial Protection Bureau announced that it reached an agreement with Residential Credit Solutions, Inc., a national mortgage servicing company, whereby the mortgage loan... Read More

CFPB Files Lawsuit Against Internet Payday Loan Companies
Posted on 6 Aug 2015 by Ballard Spahr LLP

by Barbara S. Mishkin The CFPB has filed a complaint in federal district court in New York against a group of commonly-controlled companies for allegedly engaging in unlawful conduct in connection with making payday loans over the Internet. With the... Read More

CFPB Highlights Credit Card Complaints in Fourth Monthly Complaint Report
Posted on 29 Oct 2015 by Ballard Spahr LLP

by Barbara S. Mishkin The CFPB has issued its October 2015 complaint report , the fourth in its new series of monthly complaint reports. The new report highlights credit card complaints and complaints from consumers in the Chicago, Illinois metro area... Read More

Snapshot Reveals Numbers and Trends of Consumer Credit Reporting Complaints to CFPB
Posted on 1 Sep 2015 by Troutman Sanders

by David M. Gettings , Tim J. St. George and David N. Anthony On August 25, the Consumer Financial Protection Bureau released its monthly consumer complaint snapshot , which included a focus on complaints regarding credit reporting. According to the... Read More

Ballard Spahr: Our Thoughts on Director Cordray’s Arbitration Comments to the CFPB’s Consumer Advisory Board
Posted on 23 Oct 2015 by Ballard Spahr LLP

by Alan S. Kaplinsky In his remarks today to the CFPB’s Consumer Advisory Board, Director Cordray denigrated arbitration agreements as a “free pass” that allows companies to “sidestep the legal system, avoid big refunds, and... Read More

Meredith Fuchs Named as Acting Deputy Director of the CFPB
Posted on 23 Jul 2015 by Ballard Spahr LLP

by Alan S. Kaplinsky Meredith Fuchs, the General Counsel of the CFPB, was named on Wednesday by Director Cordray to be the Acting Deputy Director of the CFPB effective August 1, 2015. The CFPB previously announced that the existing Deputy Director... Read More

CFPB, DOE, Treasury Issue Joint Statement on Student Loan Servicing
Posted on 6 Oct 2015 by Ballard Spahr LLP

by Brian J. Slagle A new Joint Statement issued by the Consumer Financial Protection Bureau, Department of Education, and Department of the Treasury presents a framework to standardize student loan servicing practices across the various federal and... Read More

CFPB Delays by Two Months the Effective Date of the “Know Before You Owe” Mortgage Disclosure Rule
Posted on 24 Jul 2015 by Troutman Sanders

by S. Mohsin Reza and Jason Manning The Consumer Financial Protection Bureau issued a final rule that delays the effective date of the Know Before You Owe mortgage disclosure rule to October 3, 2015. This news follows on the announcement by the CFPB... Read More

CFPB Issues 2015 Plain Writing Act Compliance Report
Posted on 4 Aug 2015 by Ballard Spahr LLP

by Barbara S. Mishkin The CFPB has issued its 2015 Plain Writing Act Compliance Report . Under the PWA, federal “executive agencies,” including the CFPB, are required to use plain language in documents that: are necessary for obtaining... Read More

CFPB, DOE, Treasury Issue Joint Statement on Student Loan Servicing
Posted on 6 Oct 2015 by Doug Esten

by Brian J. Slagle A new Joint Statement issued by the Consumer Financial Protection Bureau, Department of Education, and Department of the Treasury presents a framework to standardize student loan servicing practices across the various federal and... Read More