The Chamber of Commerce of the United States of America (Chamber) has filed an amicus brief opposing the CFPB’s petition filed in the Eastern District of Pennsylvania to enforce its civil investigative demand (CID) issued to J.G. Wentworth, LLC (JGW). In its brief, the Chamber challenges the CFPB’s attempt through the petition to expand its
There are limits to the CFPB’s jurisdiction!
On February 6, Professor Jeff Sovern published a blog post in which he seems to be urging the CFPB to regulate rent-to-own (“RTO”) companies. He quoted an article in the Huffington Post which, in turn quoted a CFPB spokeswoman as saying that the CFPB is reviewing the RTO industry and has not yet decided what
How the CFPB and the FTC interact (part 1)
In this first part, we look at how the Dodd-Frank Act structured interactions between the Federal Trade Commission and the Consumer Financial Protection Bureau.
The FTC has consumer protection jurisdiction over just about every business in the country, but for a few significant exceptions—financial institutions regulated by federal banking regulators, insurance companies and telecommunications companies