Consumer Protection

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On January 24, the FCC issued an order postponing the effective date of its one-to-one consent rule. The rule, which would have required companies to obtain individual consent for each marketing partner before sharing customer data, was originally slated to go into effect on January 27, 2025. However, the FCC’s order has put the rule on hold until at least January 26, 2026, unless a court ruling dictates an earlier implementation date.Continue Reading Delays Implementation of One-to-One Consent Rule

On January 30, 2025, the CFPB issued an order against a remittance company for misleading consumers about fees and failing to provide accurate disclosures, harming consumers who relied on the company’s representations when sending money to family and friends. The Bureau alleges the company’s conduct violated of the Consumer Financial Protection Act’s (CFPA) prohibition on unfair, deceptive, or abusive acts or practices and the Electronic Fund Transfer Act’s (EFTA) fee disclosure requirements for prepaid accountsContinue Reading CFPB Orders Remittance Company to Pay $2.5 Million for Deceptive Practices and Inaccurate Disclosures

On January 17, 2025, the CFPB issued a consent order against a large consumer reporting agency for failing to properly investigate consumer disputes concerning inaccurate information on consumers’ credit reports. The CFPB alleges the agency violated the Fair Credit Reporting Act (FCRA), by relying on ineffective processes and failing to thoroughly investigate disputes. Continue Reading CFPB Orders Credit Reporting Agency to Pay $15 Million for Mishandling Consumer Disputes

The Consumer Financial Protection Bureau (CFPB) released a comprehensive report today, outlining detailed recommendations to strengthen state-level consumer protection laws and address modern risks in consumer financial markets. The CFPB also provided a compendium of guidance documents summarizing its enforcement strategies and regulatory insights, designed to serve as a resource for state lawmakers and regulators.Continue Reading CFPB Proposes Roadmap For States to Continue Regulatory Activity

On January 14, 2025, the American Fintech Council (AFC) submitted a letter to the Ohio Department of Financial Institutions, urging it to re-examine its recent guidance on responsible bank partnerships and provide more clarity. The guidance, which outlines expectations for banks partnering with fintech companies, raised concerns among industry participants regarding its potential impact on innovation and competition in financial services.Continue Reading Trade Group Calls for Clarity on Ohio Fintech Guidance

On January 13, 2025, the CFPB announced a proposed rule aimed at prohibiting companies from including in consumer agreements terms that operate to waive consumers’ legal rights, allow companies to unilaterally change key terms, or restrict consumers’ lawful free expression. The CFPB has made a preliminary determination that the use of such terms may constitute an unfair or deceptive act or practice under the Consumer Financial Protection Act (CFPA). See 12 U.S.C. 5531(b).Continue Reading CFPB Proposes Rule to Protect Consumers from Unfair Contract Clauses

The topic of “junk fees” has been in the headlines, spurred by legislative action across various sectors. From regulations on credit card late fees to the Federal TICKET Act targeting concert event fees, lawmakers are actively implementing measures that impact how businesses can structure their fees. As part of this nationwide trend, California is taking a significant step with a new law aimed at curbing alleged junk fees associated with ATM transactions.Continue Reading California Increases the Pressure on Alleged “Junk Fees”: New Law Targets ATM Charges

On December 30, the Department of Justice (DOJ), at the Federal Trade Commission’s (FTC) referral, filed an amended complaint against an online cash advance provider. The complaint now names the company’s CEO as a defendant, alleging violations of the FTC Act, 15 U.S.C. §§ 45(a), and the Restore Online Shoppers’ Confidence Act, 15 U.S.C. § 8403. Continue Reading FTC and DOJ File Amended Complaint Against Cash Advance Fintech

On December 18, the U.S. Court of Appeals for the Eleventh Circuit heard arguments in Insurance Marketing Coalition Limited (“IMC”) v. Federal Communications Commission, which was brought by the marketing trade association to challenge the FCC’s December 2023 one-to-one consent rule, which is slated to go into effect on January 27, 2025. Under the new rule promulgated under the Telephone Consumer Protection Act, the FCC has modified the definition of “express written consent” and seeks to require comparison shopping websites and other marketers to obtain a consumer’s prior written consent to receive calls and texts from one marketing partner at a time. Continue Reading Federal Court of Appeals Considers Challenge to FCC’s One-to-One Consent Rule

On December 6, the CFPB issued an order establishing supervisory authority over a major tech company. While the company is already subject to CFPB’s enforcement authority, the Bureau has determined that the company meets the legal requirements for supervisory oversight. This marks only the second occasion where the CFPB has publicly released a supervisory designation order in a contested matter. Continue Reading CFPB Issues Risk-Based Supervision Order Over Major Tech Company