Federal Agency and Other Consumer Protection News: April 2023
Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB) took action against the former executive officer of Integrity Advance, a short-term, online lender, James Carnes, and his wife Melissa, for allegedly hiding money through a series of fraudulent transfers in order to avoid paying more than $40 million in restitution and penalties for illegal…
Attorney General Consumer Protection News: April 2023
Multistate Actions California Attorney General Rob Bonta led a multistate coalition of attorneys general demanding a recall of the theft-prone Hyundai and Kia automobiles. In the letter to National Highway Traffic Safety Administration (NHSTA), the 18 states urged NHTSA to take immediate action by instituting a recall of the allegedly unsafe Hyundai and Kia vehicles, whose easily-bypassed…
Federal Agency and Other Consumer Protection News: March 2023
Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB) took action against Portfolio Recovery Associates, one of the nation’s largest debt collectors, for violating a 2015 CFPB order and engaging in other violations of law. The CFPB filed a proposed order that would require Portfolio Recovery Associates to pay more than $12 million to…
Attorney General Consumer Protection News: January 2023
Multistate Actions A bipartisan coalition of nine states joined the U.S. Department of Justice in filing an antitrust action against Google alleging monopolization of ad tech markets. The lawsuit alleges Google leverages control over the technologies through which web display ads are bought and sold, driving out competition and receiving profits that far exceed what could be…
Federal Agency and Other Consumer Protection News: January 2023
Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to establish a public registry of supervised nonbanks’ terms and conditions in form contracts that claim to waive or limit consumer rights and protections. Under the proposal, the CFPB would seek information on contract terms and conditions purporting to waive…
Attorney General Consumer Protection News: December 2022
Multistate Actions Led by Arizona Attorney General Mark Brnovich, Colorado Attorney General Phil Weiser, Connecticut Attorney General William Tong, and Iowa Attorney General Tom Miller, a bipartisan group of 34 attorneys general urged the U.S. Department of Transportation (USDOT) to improve consumer protection rules for airline passengers. The letter calls on USDOT to strengthen protections for…
Federal Agency and Other Consumer Protection News: December 2022
Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB or Bureau) is ordering Wells Fargo Bank to pay more than $3.7 billion to resolve claims of widespread mismanagement of auto loans, mortgages, and deposit accounts. The consent order requires payment of $2 billion in redress for almost 16 million consumer accounts and a $1.7…
Federal Agency and Other Consumer Protection News: November 2022
Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James took action against companies that allegedly took advantage of 9/11 victims. RD Legal Funding, two related entities, and the companies’ founder and owner, Roni Dersovitz, allegedly engaged in deceptive and abusive acts in connection with offering cash advances…
Attorney General Consumer Protection News: November 2022
Multistate Actions A bipartisan executive committee of attorneys general from 13 states confirmed agreements in principle with CVS Health and Walgreens which could provide more than $10.7 billion to states and local governments. CVS expects to provide $5 billion in payments over 10 years, while Walgreens would make $5.7 billion in payments over 15 years…
Attorney General Consumer Protection News: October 2022
Multistate Actions Led by Minnesota Attorney General Keith Ellison, a bipartisan coalition of 35 attorneys general filed an amicus brief in the U.S. Tenth Circuit Court of Appeals supporting Oklahoma’s laws that regulate pharmacy benefit managers (PBMs). Oklahoma’s laws are being challenged, on ERISA preemption grounds, in the latest lawsuit filed by the PBM industry’s national lobbying association,…
