The CFPB and the Arkansas Attorney General announced that they filed a proposed stipulated judgment and order settling their Fair Credit Reporting Act (FCRA) and Consumer Financial Protection Act of 2010 (CFPA) claims against Alder Holdings, LLC, a home-alarm company that extends closed-end credit to its customers by providing them the right to defer payment for Alder’s alarm and security-system equipment over the life of a long-term contract.… Continue Reading
Democratic Senator Dianne Feinstein announced that she and three other Democratic Senators have introduced a bill, the “Accountability for Wall Street Executives Act of 2017,” that would allow state attorneys general to issue investigative subpoenas to national banks in connection with suspected violations of state law.
The bill appears intended to overturn the U.S.… Continue Reading
The Democratic attorneys general of 16 states and the District of Columbia have sent a letter to President Trump in which they express their support for the CFPB’s consumer protection mission and criticize the President’s appointment of Mick Mulvaney as CFPB Acting Director. The 16 states are New York, California, Connecticut, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Mexico, North Carolina, Oregon, Vermont, Virginia, and Washington. … Continue Reading
A lawsuit filed in May 2014 by the Mississippi Attorney General against Experian in Mississippi state court alleging widespread federal and state law violations was removed last week by Experian to a federal district court in Mississippi. While the complaint’s sensational allegations of Fair Credit Reporting Act (FCRA) violations by Experian have received considerable attention, it seems to have gone unnoticed that the lawsuit appears to represent the fourth lawsuit by a state AG or regulator using his or her Dodd-Frank enforcement authority. … Continue Reading