A&B ABstract: On January 11, 2023, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) announced a proposed rule to establish a public registry and require nonbanks supervised by the agency to register their use of certain terms and conditions contained in “take it or leave it” form contracts for consumer financial products or services […]
About Kathleen Benway
What Do the CFPB’s and FTC’s 2020 Debt Collection Activity Forecast for 2021?
On March 22, 2021, the Consumer Financial Protection Bureau (CFPB) released its 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The CFPB’s annual report follows the Federal Trade Commission’s (FTC) annual letter to the CFPB regarding the FDCPA, publicly released on March 19, 2021. The annual report highlights both agencies’ efforts […]
FTC Brings its First Case Alleging ECOA Violations in More than a Decade
A&B ABstract: On May 27, 2020, the Federal Trade Commission (FTC) announced a complaint and settlement against a New York auto dealer alleging that it charged higher rates to African American and Hispanic customers, advertised prices it refused to honor, and fabricated fees in violation of the Equal Credit Opportunity Act (ECOA), Truth in Lending […]
Misrepresentation and Deception: Government Enforcement Agencies Ready to Litigate
A&B ABstract: The COVID-19 pandemic appears to be drafting the attention to consumer protection regulators to products that were active after the 2008 recession. In the midst of the global pandemic, with unemployment rates surging to unprecedented levels, consumer protection regulators appear focused on areas where cash-strapped consumers may turn, such as credit repair, payday […]
FTC Releases Staff Perspective on Trends in Small Business Financing
A&B ABstract On February 26, 2020, the Federal Trade Commission (“FTC”) Bureau of Consumer Protection released a staff perspective (“Perspective”) on consumer protection issues related to small business financing. Based on information presented at the FTC’s “Strictly Business” Forum (“Forum”) held in May 2019, the Perspective discusses trends in small business lending, including the emergence […]