Troutman Sanders

DECEMBER 4, 2023

The Senate Banking Committee questioned Chopra on the CFPB’s oversight of financial institutions providing benefits under the Servicemembers Civil Relief Act (SCRA), medical debt collection, so-called “junk fees,” and the increasing popularity of buy now, pay later (BNPL) products. For more information, click here.

Financial services 52

Financial services Collateral Banks Trade 52

Troutman Sanders

NOVEMBER 21, 2023

On November 20, the Federal Trade Commission (FTC) announced that it is sending a second round of payments totaling more than $857,000 to consumers who were harmed by Napleton Automotive Group’s junk fees and discriminatory practices. For more information, click here.

Financial services 52

Financial services Retail Banks Student loans 52

Troutman Sanders

OCTOBER 3, 2023

On October 2, Grayscale Investment submitted its filing to the Securities and Exchange Commission (SEC) to convert its Ethereum Trust into a spot exchange traded fund (ETF). On September 29, the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) filed a joint amicus brief in the U.S.

Financial services 52

Financial services Student loans Student Loans Trade 52

Troutman Sanders

DECEMBER 5, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Federal Activities: On December 1, U.S. central bank digital currency (CBDC).

Financial services 52

Financial services Credit Card Debt Retail Banks 52

Troutman Sanders

JUNE 21, 2023

Currently, only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are available for trade on EDX. Securities and Exchange Commission (SEC), requesting approval to offer spot Bitcoin exchange-traded fund (ETF) called “iShares Bitcoin Trust.” For more information, click here. On June 15, BlackRock, Inc., According to the prospectus, U.S.-based

Financial services 52

Financial services Collection Agencies Collections Agency Trade 52

Troutman Sanders

DECEMBER 19, 2023

District Court of the Southern District of New York denied bankrupt digital asset services company Celsius Network Inc.’s District Court of the Southern District of New York denied bankrupt digital asset services company Celsius Network Inc.’s On December 12, the U.S. For more information, click here. For more information, click here.

Financial services 52

Financial services Banks Debt collector Government 52

Troutman Sanders

FEBRUARY 16, 2023

On February 10, the Federal Trade Commission (FTC) announced it will send more than $115 million in refunds to consumers nationwide as a result of a 2018 action the FTC and the U.S. and Payward Trading Ltd. On February 8, New York Department of Financial Services (DFS) Superintendent Adrienne A.

Financial services 52

Financial services Lender Banks Education 52

Troutman Sanders

FEBRUARY 27, 2023

House of Representatives Majority Whip Tom Emmer (R-MN) introduced a bill, prohibiting the Federal Reserve from issuing a retail central bank digital currency (CBDC) directly to the American public. The bill — the CBDC Anti-Surveillance Act — shares similarities to a prior version introduced by Emmer in 2022. For more information, click here.

Financial services 52

Financial services Banks Loans Retail 52

Troutman Sanders

DECEMBER 27, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. For more information, click here. On December 20, the U.S. For more information, click here.

Financial services 52

Financial services Banks Trade Retail 52

Troutman Sanders

JUNE 27, 2023

On June 22, the Commodity Futures Trading Commission (CFTC) filed suit against a foreign exchange trader, claiming that the trader misappropriated more than $1.3 On June 22, the Federal Trade Commission filed an amicus brief in the U.S. On June 22, the Commodity Futures Trading Commission filed an enforcement action in the U.S.

Financial services 52

Financial services Banks Trade Loans 52

Troutman Sanders

JANUARY 17, 2023

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. million to consumers and pay a $500,000 civil penalty for deceiving consumers with false claims about their services.

Financial services 52

Financial services Student loans Student Loans Education 52

Troutman Sanders

MARCH 28, 2023

Court of Appeals for the Second Circuit held that the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional — splitting from the U.S. Court of Appeals for the Fifth Circuit’s decision in Community Financial Services Association of America v. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Financial Institution 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

JULY 5, 2023

On June 30, the Commodity Futures Trading Commission (CFTC) announced new members and leadership of the Global Markets Advisory Committee (GMAC) and its corresponding subcommittees on global market structure, technical issues, and digital asset markets. In 2018, Prime Core began providing crypto custody services to its clients.

Financial services 52

Financial services Financial Institution Credit Unions Credit Unions 52

Troutman Sanders

NOVEMBER 21, 2022

On November 17, CFPB Director Rohit Chopra issued prepare remarks at the Financial Literacy and Education Commission, where he spoke about consumer complaints related to crypto assets. Notable banking institutions and financial services providers will be participating in the pilot project. For more information, click here.

Financial services 52

Financial services Banks Lender Trade 52

Troutman Sanders

SEPTEMBER 11, 2023

Tempoe offered financing at the point of sale to customers at major retailers such as Sears and Kmart. On September 7, the Commodity Futures Trading Commission’s (CFTC) Commissioner Caroline D. Forty-one states and the District of Columbia are entering into a parallel multistate settlement addressing the same conduct.

Financial services 52

Financial services Student loans Student Loans Banks 52

Troutman Sanders

OCTOBER 10, 2022

The report identified three gaps in the regulation of crypto-asset activity in the United States: (1) the spot markets for crypto-assets that are not securities are subject to limited direct federal regulation; (2) crypto-asset businesses do not have a consistent or comprehensive regulatory framework and can engage in regulatory arbitrage; and (3) (..)

Financial services 52

Financial services Banks Financial Institution Retail 52

Troutman Sanders

MAY 9, 2023

On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. Strengthen Retail (Consumer) Investor Protections. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

OCTOBER 17, 2022

On October 12, Federal Trade Commission Chair Lina Khan and the Department of Justice – Antitrust Division Assistant Attorney General Jonathan Kanter participated in the G7 Joint Competition Policy Makers & Enforcers Summit as part of the “2022 G7 Digital and Technology Track.” For more information, click here.

Financial services 52

Financial services Banks Student loans Student Loans 52

Troutman Sanders

JULY 19, 2023

On July 12, the Commodity Futures Trading Commission (CFTC) announced that the U.S. The order bans the defendant and his companies from trading in any CFTC-regulated markets or registering with the CFTC. For more information, click here. It also requires him to pay $3,912,220 in disgorgement and a $11,736,660 civil monetary penalty.

Financial services 40

Financial services Lender Trade Banks 40

Troutman Sanders

JANUARY 25, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities.

Financial services 52

Financial services Student loans Student Loans Trade 52

Troutman Sanders

MARCH 8, 2021

On February 28, New York Attorney General Letitia James extended the suspension of debt collection for medical and student debt owed to the state of New York through at least the end of March in an ongoing response to financial impacts resulting from the spread of COVID-19. For more information, click here.

Financial services 52

Financial services Retail Foreclosure Financial Institution 52

Troutman Sanders

MAY 4, 2023

CFS Partner Alan Wingfield focuses his practice on financial services litigation and consumer law compliance counseling. He helps businesses with the myriad federal and state consumer protection laws, as well as laws regulating financial services and other types of consumer-facing companies.

Retail 52

Retail Trade Financial Institution Financial services 52

Troutman Sanders

JULY 26, 2021

On July 20, the House of Representatives passed the Consumer Protection and Recovery Act, which aims to revive the Federal Trade Commission’s (FTC) authority to return money to consumers harmed by companies found to engage in deceptive practices. For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Garnishment 52

Troutman Sanders

OCTOBER 20, 2023

The AG’s Protracted Investigation and Litigation Savers is the largest for-profit thrift retailer in the world and generates more than $1 billion in annual revenue. The Washington AG began investigating Savers in 2014 and, after a failed negotiation, sued the retailer.

Financial services 52

Financial services Financial Institution Government Retail 52

Troutman Sanders

APRIL 5, 2023

On March 14, Credit Acceptance filed a motion to dismiss the complaint, and on March 21, Troutman Pepper filed an amicus curiae brief in support of Credit Acceptance on behalf of the American Financial Services Association, the Consumer Bankers Association, and the Chamber of Commerce of the United States.

Trade 52

Trade Consumer Credit Financial services Government 52

Fico Collections

JUNE 30, 2021

a is part of the Erste Group, one of the largest financial services providers in Central and Eastern Europe, which serves more than 16 million customers in seven countries. “As a responsible for retail banking. “We As a digital banking leader in Slovakia we are looking forward to this cooperation,” said Zden?k

Banks 52

Banks Financial services Retail Trade 52

Troutman Sanders

MARCH 24, 2023

Second, unlike many cases currently in the news, these allegations do not involve retail installment sales contracts. He focuses primarily on federal and state government regulatory and enforcement matters involving state attorneys general, the Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC).

Personal loans 52

Personal loans Loans Government Trade 52

Nexa Collect

NOVEMBER 26, 2022

The GLBA covers any institutions that provide financial services, including : Handling loans. Providing financial advising. Career counseling (of those who are seeking employment with financial services). What Types of Businesses Are Impacted by the Gramm-Leach-Bliley Act? Handling savings. Investing for others.

Collection Agencies 130

Collection Agencies Collections Agency Financial Institution Collections 130

Fico Collections

JUNE 21, 2022

Leading Turkish retail bank wins FICO ® Decisions Award for AI, machine learning & optimization using FICO decision optimization technology for credit limits. Balancing the Trade-Offs. The most important advantage of optimization was the ability to see trade-offs between different business goals. KristinaRobinson@fico.com.

Retail 52

Retail Trade Banks Startups 52

Burr Forman

FEBRUARY 9, 2021

In that week when GME swung wildly from $76 to $347 per share, regulators issued several investor alerts warning about the risks of short-term trading in volatile assets. FINRA issued its Investor Alert cautioning against emotional trading not aligned with long-term financial means and goals, among others. 28, 2021), here.

Trade 52

Trade Financial Institution Retail Financial services 52

Burr Forman

FEBRUARY 5, 2021

On Thursday, January 28, trading-app broker-dealer Robinhood – a self-styled disrupter democratizing trading – suspended its users’ ability to buy Gamestop stock or options (along with other stocks). At least one suit alleges Robinhood’s action was “a concerted effort to de-platform ” it clients: [link]. The Complaint is here.

Trade 52

Trade Retail Lawyers Financial Institution 52

Public Citizen

MAY 5, 2021

The survey is part of the larger annual survey of legal developments by the American Bar Association's Committee on Consumer Financial Services.

Retail 45

Retail Financial services Lender Trade 45

Collection Industry News

AUGUST 30, 2022

NEW YORK (AP) — Walmart filed a motion on Monday to dismiss a lawsuit by the Federal Trade Commission in June that accused the nation’s largest retailer of allowing its money transfer services to be used by scam artists, calling it an “egregious instance of agency overreach.”. The Associated Press, August 29, 2022.

Retail 40

Retail Trade Financial services Collections 40

Credit Corp

SEPTEMBER 13, 2023

Credit Cards Issued by a Bank, Credit Union, or other financial services company : These are accounts backed by a major payment network, like Visa, Mastercard, or American Express. As with retail store accounts, these cards can only be used at specific locations, almost always a gas station.

Credit Unions 97

Credit Unions Credit Unions Student loans Student Loans 97

Fico Collections

JUNE 1, 2021

Decision optimisation also enables different business units to input their own lower-level objectives and quantify the impacts and trade-offs. We can directly compare the trade-offs made to satisfy each condition, so that a consensus can be reached on the best overall solution for all parties. Take collections as an example.

Manufacturing 52

Manufacturing Trade Debt Recovery Retail 52

Collection Industry News

OCTOBER 17, 2023

Some cards — retail store cards, in particular — charge more than 30%, said Ted Rossman, industry analyst for CreditCards.com. introduced a bill in September to cap credit card rates — also known as the annual percentage rate, or APR — at 18%, citing “higher financial burdens” shouldered by working people. “The Josh Hawley, R-Mo.,

Credit Unions 40

Credit Unions Credit Unions Accrued Interest Credit Card Debt 40