enforcement payments-harmed-consumers civil-penalty-fund 
Troutman Sanders
SEPTEMBER 18, 2023
The FTC sent Notices of Penalty Offenses that warn recipients they could incur civil penalties of up to $50,120 per violation if they misuse personal data in ways that run counter to the original purpose for which this information was collected. For more information, click here. For more information, click here.
Collection Industry News
MAY 24, 2021
California auto finance to provide refunds and credits, correct credit records, and pay a civil money penalty. WASHINGTON , DC (May 21, 2021) — The Consumer Financial Protection Bureau (CFPB) issued a consent order today against 3rd Generation, Inc., Charging Undisclosed Interest to Consumers. Enforcement Action.
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Collection Industry News
MAY 3, 2022
Performance SLC unlawfully collected upfront payments from borrowers and did not provide required disclosures. Performance Settlement settled debts without the required consumer authorization and tricked certain consumers into enrolling into its debt-resolution services. Source: site. million in illegal upfront fees.
Troutman Sanders
JUNE 21, 2023
On June 20, the Federal Trade Commission (FTC) sent letters to 50 online marketplaces nationwide, notifying them about their obligation to comply with the new Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act — or the INFORM Consumers Act — as soon as it takes effect on June 27.
Troutman Sanders
FEBRUARY 26, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: Federal Activities State Activities Federal Activities: On February 26, CoinSpeaker reported that in May, the U.S. For more information, click here.
Troutman Sanders
SEPTEMBER 11, 2023
Tempoe is paying a $2 million penalty, with $1 million deposited into CFPB’s victims’ relief fund and $1 million paid to the states entered into the settlement. over its alleged failure to register its crypto lending product, but said it chose not to impose a civil penalty based on the firm’s cooperation with the investigation.
Collection Industry News
MAY 9, 2022
Although debt collection has been a longtime leading issue reported to the Consumer Financial Protection Bureau (CFPB), during the COVID-19 pandemic, another issue emerged as the nation’s number one consumer concern: credit reporting. Deceiving consumers through its digital dark patterns.
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