Troutman Sanders

APRIL 5, 2023

As to the complaint’s “hidden finance charge” claims, the motion to dismiss observes: (1) The complaint fails to allege that Credit Acceptance deceived any consumers regarding alleged “hidden finance charges.”

Trade 52

Trade Consumer Credit Financial services Government 52

Troutman Sanders

NOVEMBER 5, 2021

Second, the CFPB is monitoring for broader consumer adoption of cryptocurrencies. While stablecoins are primarily used for speculative trading, they may be used in connection with consumer deposits, stored value instruments, retail and other consumer payments mechanisms, and in consumer credit arrangements.

Trade 52

Trade Retail Consumer Credit Government 52

Troutman Sanders

MARCH 24, 2023

This settlement is yet another example of an activity that the State Attorneys Generals across the United States view as germane to their mandate to protect consumers, especially from perceived unfair or unlawful consumer lending practices.

Personal loans 52

Personal loans Loans Government Trade 52

Troutman Sanders

JANUARY 30, 2023

On January 26, the Securities and Exchange Commission (SEC) rejected Cboe BZX Exchange’s (BZX) request to list and trade Ark 21Shares, the proposed spot-Bitcoin exchange traded fund (ETF) managed by asset managers ARK Investment Management and 21Shares (collectively hereinafter, the “trust). For more information, click here.

Financial services 52

Financial services Foreclosure Banks Trade 52

Troutman Sanders

OCTOBER 30, 2023

This bill would instruct the Consumer Financial Protection Bureau (CFPB) and the Government Accountability Office to conduct a study on BNPL and EWA services to help determine the degree to which consumers are utilizing both services for retail purchases. For more information, click here. For more information, click here.

Financial services 52

Financial services Financial Institution Trade Banks 52

Troutman Sanders

MARCH 11, 2024

On March 6, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam called on Congress to pass legislation addressing regulatory jurisdictions in the crypto industry. The SEC alleged that Shapeshift violated Section 15(a) of the Securities Exchange Act of 1934 by facilitating trades in crypto assets without registration.

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Financial services Garnishment Lender Banks 52

Collection Industry News

OCTOBER 17, 2023

Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Some cards — retail store cards, in particular — charge more than 30%, said Ted Rossman, industry analyst for CreditCards.com. Federally chartered credit unions have an 18% limit. Josh Hawley, R-Mo., For example, Sen. and Rep. “The

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