The New York State Department of Financial Services (DFS) has issued an Industry Letter providing guidance on overdraft and non-sufficient funds (NSF) fees to depository institutions that it supervises.

The DFS indicates that, through the supervisory process, it has identified several unfair or deceptive acts or practices regarding the imposition of overdraft and NSF fees. 

The FTC has announced a stipulated order of judgment in a lawsuit that it recently filed against Saint James School of Medicine, a for-profit medical school located in the Caribbean, together with its operator and financiers.  The $1.2 million judgment will be used toward refunds and debt cancellation for students who financed their education within

The FTC has announced the settlement of a lawsuit filed jointly with the Illinois Attorney General against a group of auto dealerships that alleged the dealerships violated federal and state law by engaging in deceptive practices in connection with add-on charges and by discriminating against Black consumers in connection with the financing of vehicle purchases. 

Last week, the FTC filed an administrative complaint against Fleetcor Technologies, a marketer of fuel cards, and its CEO in which the FTC alleges that the respondents violated the FTC Act’s prohibition on unfair or deceptive acts or practices.  The complaint’s allegations mirror those in the lawsuit filed by the FTC against the respondents in

At her first FTC meeting earlier this month, newly-confirmed FTC Chair Lina Khan moved, and the Commission approved (by a 3-2 vote), changes to the FTC’s rulemaking process.  The changes could assist the efforts of Democratic FTC Commissioners to further White House policy goals and lead to new UDAP rules.

Pursuant to the 1975 Magnuson-Moss

Yesterday, the FDIC announced a settlement with Umpqua Bank that involved collection practices connected with commercial equipment financing offered by the bank’s wholly-owned subsidiary.  The stipulated Order to Pay Civil Money Penalty requires the bank to pay a $1.8 million CMP.

The practices that the FDIC found to violate Section 5 of the FTC Act

The Federal Trade Commission recently announced that it has settled the lawsuit it filed against Yellowstone Capital LLC, a provider of merchant cash advances, and its chief executive officer and president for alleged unfair and deceptive conduct in violation of section 5 of the FTC Act, 15 U.S.C. § 45.

In its Complaint, the FTC

An article recently published by the Student Borrower Protection Center titled “Discrimination is ‘Unfair’,” argues that the CFPB, FTC, state attorneys general and regulators, and in some cases private individuals, should consider challenging discrimination as an “unfair” practice covered by federal and state laws prohibiting unfair, deceptive, or abusive acts and practices.  (The authors are

The Federal Trade Commission recently announced that it settled an action it filed against AppFolio, Inc. (“AppFolio”), regarding alleged unfair or deceptive acts or practices, in violation of Section 5 of the FTC Act, 15 U.S.C. § 45, and violations of multiple provisions of the Fair Credit Reporting Act (“FCRA”), 15 U.S.C. §§ 1681– 1681x,