On September 3, 2020, the California Department of Business Oversight (DBO) announced that it has launched a formal investigation into whether Wheels Financial Group, LLC d/b/a LoanMart, formerly one of California’s largest state-licensed auto title lenders, “is evading California’s newly-enacted interest rate caps through its recent partnership with an out-of-state bank.”  Coupled with the California

The U.S. Court of Appeals for the Third Circuit ruled last week in Commonwealth of Pennsylvania v. Navient Corp. that the PA Attorney General could bring a parallel enforcement action against Navient, a servicer of federal student loans, under the Consumer Financial Protection Act (CFPA) even though the CFPB had previously filed a lawsuit against

The Attorney General for the District of Columbia, Karl A. Racine, (the “AG”) has filed a complaint against Elevate Credit, Inc. (“Elevate”) in the Superior Court of the District of Columbia alleging violations of the D.C. Consumer Protection Procedures Act including a “true lender” attack related to Elevate’s “Rise” and “Elastic” products offered through bank-model

We explore a wide range of topics with AG Weiser including: who are his key staff members and their backgrounds; his office’s actions in response to COVID-19; recent changes to the CO Consumer Protection Act; and his office’s activities concerning student loans, robocalls, payday lending, and data privacy and security and its approach to consumer

This Friday, June 5, from 12:00 p.m. to 1:00 p.m. ET, Ballard Spahr will hold a webinar, “State Attorney General Priorities: Coronavirus and Beyond.”  Our special guest speakers will be three representatives from state Attorney Generals’ offices: Bernard Eskandari from California, Tom James from Illinois, and Max Weinstein from Massachusetts.  Our guests will discuss their

California Governor Newsom submitted his updated 2020-2021 budget proposal to the state legislature on May 14, 2020.  The proposed budget amendments include substantial cuts to compensate for the anticipated impact to state revenue due to job losses and business closures caused by the COVID-19 pandemic.  The funding allocated to the revamping of the Department of

The CFPB and the South Carolina Department of Consumer Affairs have filed a lawsuit in federal district court in South Carolina against two companies and their individual owner that alleges the defendants violated the Consumer Financial Protection Act and the South Carolina Consumer Protection Code (SCCPC) by brokering high-interest loans to consumers that were marketed

The FTC announced settlements of two lawsuits filed in a California federal district court alleging similar violations of the FTC Act, the Telemarketing Sales Rule (TSR), and the Truth in Lending Act by providers of student debt relief services, their principals, and a Minnesota-based company that provided financing to customers of the providers involved in

Nicholas Smyth, Assistant Director of the Pennsylvania Attorney General’s Bureau of Consumer Protection, was our guest speaker for a webinar yesterday.  Formerly a CFPB enforcement attorney, Nick was appointed by PA Attorney General Josh Shapiro about two years ago to lead the new unit.  Chris Willis, Practice Leader of Ballard Spahr’s Consumer Financial Services Litigation

Pennsylvania has one of the most active Attorney General offices when it comes to bringing cases against financial companies. This is due to the office’s Consumer Financial Protection Unit, which was formed by Attorney General Josh Shapiro in 2017 because of the expectation that the CFPB would become less potent in protecting consumers. The Unit