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 […]
Federal Trade Commission (FTC)
FTC Seeks Comment on Proposed Changes to FCRA Rules for Motor Vehicle Dealers
A&B ABstract: The FTC is seeking public comment on proposed changes to five FCRA rules aimed at clarifying that these rules, as promulgated by the FTC, apply only to motor vehicle dealers, as equivalent rules promulgated by the CFPB will apply to other entities. The Federal Trade Commission (“FTC”) has announced it is seeking […]
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 […]