Troutman Sanders

AUGUST 7, 2023

On August 1, the Enforcement Bureau of the Federal Communications Commission (FCC) issued a cease-and-desist letter to One Owl Telecom for allegedly transmitting prerecorded voice message calls to consumers, which included illegal scam robocall traffic. This letter further seeks additional information and documentation from Apple.

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Financial services Financial Institution Manufacturing Loans 52

Troutman Sanders

NOVEMBER 11, 2020

Smith stated that the FTC’s first avenue to consumer protection is education, he made it clear that the FTC is not shy about law enforcement. Specifically, he cited “warning letters” as a recently popular FTC tool.

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Burr Forman

SEPTEMBER 23, 2021

Gensler suggested that the SEC has broad regulatory authority in the area, but needs to step up its enforcement efforts in coordination with other agencies. Hsu’s remarks came as the European Banking Authority warned that regulators were not up to speed on the rapidly-advancing interaction of banking and digital marketplaces. [4].

Banks 52

Banks Trade Financial Institution 52

Troutman Sanders

MAY 7, 2021

” Moreover, the FTC has issued warning letters to sellers or marketers of products that allege to treat or prevent COVID-19. . ” Moreover, the FTC has issued warning letters to sellers or marketers of products that allege to treat or prevent COVID-19.

Trade 52

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Troutman Sanders

AUGUST 21, 2023

State Activities: On August 19, California Attorney General (AG) Rob Bonta issued a consumer alert, warning consumers to be aware of price gouging following the governor’s declaration of a state of emergency in connection with Hurricane Hilary. For more information, click here. For more information, click here.

Financial services 52

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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.

Financial services 52

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Troutman Sanders

SEPTEMBER 5, 2023

The congressmen stated that the supervisory letters effectively prevented banks from issuing payment stablecoins, and created regulatory obstacles for banks seeking to engage in the payment stablecoin ecosystem. The warning further warned consumers to avoid paying a fee to get a job, and to never mix cryptocurrency with online dating.

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Financial services Banks Trade Home Insurance 52

Public Citizen

JUNE 29, 2020

The course of the litigation revealed not only that the Higbee firm’s bark can be much worse than its bite, but that the firm deliberately uses intimidation tactics to extract “settlement payments” from demand letter targets against whom the firm knows that it could not prevail in litigation. by Paul Alan Levy. Lead-Up to the Litigation.

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Public Citizen

MAY 13, 2022

In that article, I noted that Watch Tower had filed more than seventy DMCA subpoenas, obtaining enforcement by default, but had never once filed an infringement action against a Doe thus identified. That letter cited the URL for Evans’ You Tube channel and made clear that Watch Tower was monitoring its content.

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Collection Industry News

SEPTEMBER 28, 2021

Banks already report millions of transactions a day to the Financial Crimes Enforcement Network for any transaction that exceeds $10,000 – part of banks’ anti-money laundering requirements. Richard Neal, the chairman of the tax-writing House Ways and Means Committee, to include the full proposal to beef up IRS enforcement as it crafts the $3.5

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Banks Financial Institution Government Loans 40

Troutman Sanders

NOVEMBER 16, 2020

Twenty more businesses received warnings from the FTC about allegations relating to “prevention or treatment claims, bringing the total to more than 330” businesses receiving these warnings since the start of the pandemic. For more information, click here. ” For more information, click here.

Financial services 52

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Troutman Sanders

OCTOBER 3, 2023

On September 27, the CFTC announced that it filed a civil enforcement action against Mosaic Exchange Limited (Mosaic), a digital asset trading platform, and its chief executive officer, Sean Michael, for running a fraudulent digital asset scheme. For more information, click here.

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Financial services Student loans Student Loans Trade 52

Troutman Sanders

FEBRUARY 16, 2022

On February 9, the chairman of the Commodity Futures Trading Commission issued prepared remarks to the Senate Agriculture Committee, stating that the commission has the authority to enforce digital asset spot markets, and “it is important that we find ways to sensibly bring this emerging market within the regulatory fold.” Australia, and U.K.,

Financial services 52

Financial services Banks Trade Financial Institution 52

Troutman Sanders

JUNE 14, 2023

On June 8, the Federal Trade Commission (FTC) announced that it had conducted a new analysis, which shows that bogus bank fraud warnings were the most common form of text message scam reported to the agency, and that many of the most common text scams impersonate well-known businesses. For more information, click here. More than 1.9

Financial services 52

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Troutman Sanders

JANUARY 20, 2022

The GAO believes the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) should do more to regulate crypto automated teller machines (ATMs), and its report indicates the agencies agreed with its two recommendations to tighten crypto ATM regulations. To read the letter, click here. paid to the states.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Troutman Sanders

OCTOBER 19, 2021

Federal Activities: On October 15, the Department of Education announced the establishment of an Office of Enforcement within Federal Student Aid, reporting directly to the chief operating officer. To read the FTC’s full warning, click here. Department of Veterans Affairs is extended until the COVID-19 National Emergency terminates.

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Troutman Sanders

SEPTEMBER 25, 2023

Senator Mike Rounds (R-SD) also expressed some caution around AI but warned that overregulating new technologies is not a solution that supports innovation. However, the SEC acknowledged that its litigation rate has been unusually high, and the agency understands that it cannot pursue every enforcement case it desires. 1020.210(b).

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Better Credit Blog

APRIL 4, 2022

Some of the warning signs include: They want you to repay a debt you don’t recognize. They try to scare you into paying by threatening to report you to law enforcement or have you arrested. So before you do anything else, send the collector a debt validation letter. The FTC covers this on their website. Request Debt Validation.

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Troutman Sanders

AUGUST 24, 2020

Food and Drug Administration (FDA) issued a series of warning letters to firms marketing and selling potentially fraudulent consumer health products that claim to prevent, treat, mitigate, diagnose or cure COVID-19. For more information, click here. For more information, click here. On August 20, 2020, the U.S.

Financial services 52

Financial services Student loans Student Loans Education 52

Troutman Sanders

FEBRUARY 23, 2022

On February 15, 18 virtual asset service providers announced the creation of the Travel Rule Universal Solution Technology (TRUST), a solution intended to address global anti-money laundering data sharing requirements recommended by the Financial Action Task Force and required by the Financial Crimes Enforcement Network.

Financial services 52

Financial services Student loans Student Loans Government 52

Troutman Sanders

NOVEMBER 23, 2021

On November 17, California Attorney General Letitia James issued a warning against “marketing schemes aimed at trapping consumers into recurring payments.” About half of the companies that received letters made problematic claims on one or more of the four most prominent social media platforms. For more information, click here.

Financial services 52

Financial services Government Banks Collections 52

Troutman Sanders

AUGUST 10, 2020

Privacy and Cybersecurity Activities: On August 7, 2020, California’s Attorney General, Xavier Becerra, warned consumers about online scams involving digital currencies. ” Read the full warning by clicking here. SAFEWEB Act (which allows the FTC to work with foreign authorities on cross-border law enforcement).

Financial services 52

Financial services Student loans Student Loans Education 52

Troutman Sanders

MARCH 14, 2023

The federal agencies that received the letter must provide a response to certain questions by March 16. Critically, the letter requests Binance, among other things, to produce complete copies of all Binance and Binance subsidiary balance sheets from 2017 to the present. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

JANUARY 31, 2022

Privacy and Cybersecurity Activities: On January 25, California Attorney General Rob Bonta issued a warning to Californians to beware of fake COVID-19 testing locations and websites. The FTC warned that social media platforms like Facebook and Instagram are a “gold mine” for crypto scammers. To read the letter, click here.

Financial services 52

Financial services Trade Government Banks 52

Troutman Sanders

MARCH 6, 2023

The federal agencies that received the letter must provide a response to certain questions by March 16. Critically, the letter requests Binance, among other things, to produce complete copies of all Binance and Binance subsidiary balance sheets from 2017 to the present. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

MAY 9, 2022

On April 28, the Joint Chiefs of Global Tax Enforcement (J5) announced the release of an intelligence bulletin, warning banks, law enforcement personnel, and private citizens of some of the dangers when dealing with non-fungible tokens (NFTs). The report details key findings across consumer financial products and services.

Financial services 52

Financial services Student loans Student Loans Government 52

Troutman Sanders

NOVEMBER 15, 2022

According to the CFPB, a consumer reporting agency or furnisher that requires a consumer to submit documentation other than what the Fair Credit Reporting Act describes as a precondition to investigating the consumer’s dispute may be subject to enforcement. For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Trade 52

Troutman Sanders

MARCH 28, 2023

On March 22, the SEC filed a civil enforcement action against Justin Sun and three of his wholly owned companies: Tron Foundation Limited (Tron), BitTorrent Foundation Ltd. The proposed rules contained a “click-to-cancel” provision, requiring sellers to make it just as easy for consumers to cancel their enrollment as it was to sign up.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

Burr Forman

DECEMBER 1, 2020

Specifically, the federal government has been increasing its efforts to enforce HIPAA Security Rule violations, which concern the methods that covered entities and their business associates use to protect electronic patient information from improper access and disclosure. To date, the FTC has sent over 300 COVID-19 related warning letters.

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Healthcare Government Trade Collections 40

Troutman Sanders

JULY 12, 2021

On June 28, the Financial Crimes Enforcement Network (FinCEN) issued “A Report to Congress – Assessment of No-Action Letters in Accordance with Section 6305 of the Anti-Money Laundering Act of 2020” (Assessment). For more information, click here.

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Financial services Student loans Student Loans Foreclosure 52

Hudson Weir

SEPTEMBER 23, 2019

Your business isn’t necessarily insolvent, but as a director, you must be aware of the insolvency warning signs. So, if you’ve received letters like this and lack the financial resources to pay, it’s likely your company is insolvent. . If not, this could be an insolvency warning sign. . 1 | The cash flow test.

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Troutman Sanders

JUNE 25, 2021

In response, TransUnion mailed him a file disclosure that did not contain the OFAC alert, but contemporaneously mailed Ramirez a separate letter referencing the file disclosure letter, and explaining that his name was a “potential match” to a name on the OFAC list. Ramirez filed a class action suit in California under the FCRA.

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Legal Rights 59

Troutman Sanders

JUNE 21, 2022

Attorney General Bonta also sent letters to hospitals “warning them that they must provide written notice to patients — in their native language — of the availability of ‘charity care’ and how to apply.” For more information, click here. For more information, click here.

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FDCPA Defense

MAY 6, 2014

There, the collector sent a letter stating “if not paid TODAY, it may STOP YOU FROM OBTAINING credit TOMORROW. There, the collector’s letter told the consumer that “CONTINUED REFUSAL TO HONOR THIS RETURNED CHECK WILL RESULT IN YOUR CREDIT FILE BEING IMPACTED WITH A NEGATIVE REFERENCE WHICH MAY IMPACT FUTURE CREDIT GRANTING DECISIONS.”

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Creditworthiness Debtor Debt collector Consumer Credit 40

Troutman Sanders

NOVEMBER 24, 2020

Mnuchin sent a letter to Chairman of the Federal Reserve Board of Governors Jerome Powell requesting a 90-day extension of the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, the Money Market Liquidity Facility, and the Paycheck Protection Program Liquidity Facility. For more information, click here.

Financial services 52

Financial services Foreclosure Banks Loans 52

Troutman Sanders

AUGUST 16, 2021

Under the MOU, the two agencies will focus on enhancing their enforcement of the Fair Housing Act. He sent a letter requesting that the Government Accountability Office decide whether the CDC’s latest eviction moratorium constitutes a rule for purposes of the Congressional Review Act. For more information, click here. 248, click here.

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Financial services Foreclosure Student loans Student Loans 52

Consumer Finance Watch

NOVEMBER 21, 2019

Moreover, the Notice of Default warned that “failure to pay this delinquency, plus additional payments and fees that may become due, will result in the acceleration of your Mortgage Note. Bank”) commenced a foreclosure action to enforce the Defendants’ Mortgage in the Queens County Supreme (the “Lower Court”). may be initiated.”

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