CFPB, Federal Agencies, State Agencies, and Attorneys General
The CFPB has issued its annual Fair Debt Collection Practices Act report covering the CFPB’s and FTC’s activities in 2019.
With regard to the CFPB’s debt collection rulemaking, in her opening message, Director Kraninger only references the Bureau’s May 2019 proposal. She does not mention the Bureau’s supplemental proposal issued last month that would require…
On February 25th, the Federal Trade Commission (FTC) released its annual Privacy and Data Security Update, which highlights the FTC’s activities during the past year.
According to the update, the FTC enforcement actions in the past year involved privacy and data security addressing a range of issues, including identity theft, credit reporting and financial…
FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B.
The FTC has authority to enforce the ECOA and Reg. B as to nonbank providers within its jurisdiction. However, like several of the FTC’s prior letters on its ECOA…
Yesterday, Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, announced the following three major improvements that have been made to FTC orders in data security cases:
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The FTC has filed a lawsuit in an Atlanta federal district court against a company that markets fuel cards to operators of vehicle fleets in which the FTC alleges that the company violated the FTC Act’s prohibitions on unfair and deceptive acts and practices. The company’s CEO was also named as a defendant.
The CFPB and FTC announced the issues that the panels will discuss at the workshop on accuracy in consumer reporting that the agencies will co-host on December 10, 2019.
The workshop will examine issues affecting the accuracy of traditional credit reports as well as employment and tenant background screening reports, including changes in legal requirements…
The Federal Trade Commission recently released its preliminary report on two studies it conducted to help understand the effectiveness of class action settlement notices and to “develop information to help improve settlement outcomes for consumers.” The report shows that claims rates, regardless of the form of notice, are very low and that some of the…
The CFPB announced that it will host a public workshop with the FTC on December 10, 2019 to discuss issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports.
According to the announcement, the workshop “seeks to bring together stakeholders – including industry representatives, consumer advocates, and regulators –…
Two recent Circuit Court opinions have significantly undermined the FTC’s powers under Section 13(b) of the Federal Trade Commission Act (FTCA). These pivotal decisions may ultimately require the U.S. Supreme Court to clarify Section 13(b)’s boundaries.
First, in FTC v. Shire Viropharma, Inc., the Third Circuit Court of Appeals held that in order to…
Just two days after the Federal Trade Commission (“FTC”) announced a historic settlement of privacy and security claims against Equifax, the FTC today announced that Facebook has agreed to pay $5 billion in civil fines, arising from its violation of a 2012 consent order with the FTC. According to the FTC, this is the largest…
