Attorney General Consumer Protection News: April 2022

Multistate Actions Led by Louisiana Attorney General Jeff Landry, Mississippi Attorney General Lynn Fitch, and New Mexico Attorney General Hector Balderas, a bipartisan coalition of 28 attorneys general sent a letter to crowdfunding charity platform GoFundMe asking it to provide greater transparency regarding its terms of service. The letter calls for GoFundMe to provide a…

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Federal Consumer Protection News: April 2022

Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB or Bureau) filed suit against TransUnion, two of its subsidiaries, and longtime executive John Danaher for allegedly violating a 2017 law enforcement order. The order was issued to stop the company from engaging in deceptive marketing regarding its credit scores and other credit-related products. The…

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Attorney General Consumer Protection News: March 2022

Multistate Actions A bipartisan coalition of attorneys general announced a nationwide investigation of TikTok to determine whether the company violated state consumer protection laws that put the public, especially young children and young adults, at risk.  The investigation is led by attorneys general from California, Florida, Kentucky, Massachusetts, Nebraska, New Jersey, Tennessee, and Vermont. On…

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Federal Consumer Protection News: March 2022

Consumer Financial Protection Bureau The Consumer Financial Protection Bureau entered into a $1 million Consent Order with student-loan servicer Edfinancial Services, for allegedly making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment options. Edfinancial allegedly deceived borrowers with Federal Family Education Loan Program loans about their eligibility for Public Service Loan…

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Attorney General Consumer Protection News: February 2022

Multistate Actions The $26 billion national opioid agreement was confirmed by the nation’s three major pharmaceutical distributors – Cardinal, McKesson, and AmerisourceBergen – and Johnson & Johnson. Fifty-two states and territories have signed onto the agreement. Following successful state sign-on and subdivision sign-on periods, the defendants have committed to the deal and will start releasing…

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Federal Consumer Protection News: February 2022

Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB or Bureau) issued a series of bulletins in February providing guidance regarding the Bureau’s interpretation of legal requirements related to a range of financial services. Bulletins included guidance for student loan servicers handling of accounts of borrowers eligible for public service loan forgiveness, providers of…

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Federal Consumer Protection News: January 2022

Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB or “Bureau”) announced an initiative to reduce so-called “junk fees” charged by banks and other financial institutions. Noting that credit card late fees and bank charges for overdraft and non-sufficient funds fees cost consumers nearly $30 billion in 2019, the Bureau published a request for…

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Attorney General Consumer Protection News: January 2022

Multistate Actions Led by California Attorney General Rob Bonta, Illinois Attorney General Kwame Raoul, Massachusetts Attorney General Maura Healey, and Pennsylvania Attorney General Josh Shapiro, a bipartisan coalition of 39 attorneys general obtained a $1.85 billion settlement with student loan servicer Navient. Under the settlement, Navient will make a total of $95 million in restitution…

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Attorney General Consumer Protection News: December 2021

Multistate Actions Led by Idaho Attorney General Lawrence Wasden and Oregon Attorney General Ellen Rosenblum, a bipartisan coalition of 33 attorneys general wrote the Consumer Financial Consumer Protection Bureau (CFPB), calling for stronger consumer safeguards for money sharing platforms and apps. The letter, written in response to the CFPB’s request for comments on its inquiry…

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Federal Consumer Protection News: December 2021

Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB) issued a supervisory highlights report identifying legal violations identified by the CFPB’s examinations in the first half of 2021. The report also highlights prior CFPB supervisory findings that led to public enforcement actions in the first half of 2021. CFPB examiners often find problems during…

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