Consumer Financial Services Law Monitor

Consumer Financial Services Law Monitor

monitoring the financial services industry to help companies navigate through regulatory compliance, enforcement, and litigation issues

Laura Anne Kuykendall

Laura Anne Kuykendall

Blog Role:
Contributor – State Attorneys General, CFPB & FTC

CFS Value:
Laura Anne “LA” specializes in business litigation specifically within the intellectual property and white collar and government investigations practices.

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Operation Choke Point Terminated

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
The U.S. Department of Justice announced the end of Operation Choke Point in an August 16 letter to the Chairman of the House Judiciary Committee.  Operation Choke Point, which began under the Obama Administration, sought to prohibit banks and other financial firms from giving so-called “bad actors” access to bank accounts and payment processing systems. … Continue Reading

Minnesota AG Cracks Down on Pension Advance Companies Allegedly Targeting Veterans and Senior Citizens

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
On August 16, Minnesota Attorney General Lori Swanson announced the filing of a lawsuit against two pension advance companies alleged to have preyed on veterans and senior citizens, convincing borrowers into signing over large portions of their monthly pensions in exchange for small loans to cover household emergencies and basic living expenses. The suit, filed… Continue Reading

FTC and International Consumer Protection Agencies Announce Website Revamp

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
Partnering with the Federal Trade Commission, the International Consumer Protection and Enforcement Network (“ICPEN”) recently unveiled significant enhancements to its online portal – www.icpen.org – designed to help members identify and respond to consumer challenges crossing international borders. ICPEN is a network of consumer protection agencies from over 60 countries that strives to protect consumers… Continue Reading

Texas Man Pleads Guilty to Felony Charge for Role in Foreclosure Rescue Scheme

Posted in ALL CFS Blog Entries, Mortgage Lenders & Servicers, State Attorneys General, CFPB, & FTC
The Department of Justice announced that Bruce Kevin Hawkins, 52, of Desoto, Texas, recently pled guilty in a federal court in Texas regarding his role in a foreclosure rescue scheme that ran from February 2012 to January 2013 and bilked over $240,000 from homeowners facing foreclosures.  Hawkins pled guilty to one count of mail fraud… Continue Reading

FTC and Partners Announce Operation Tech Trap to Target Tech Support Scammers

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
The Federal Trade Commission recently announced the creation of Operation Tech Trap, a new joint effort among national and international partners to combat tech support scams that dupe consumers into believing their computers contain harmful computer viruses and malware and then trick these consumers into paying hundreds of dollars for unnecessary repairs to “fix” their… Continue Reading

Memorandum of Understanding Signals Continued US-Canada Cooperation

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
The Federal Trade Commission has signed a memorandum of understanding (“MOU”) with the Royal Canadian Mounted Police (“RCMP”) to strengthen cooperation regarding cross-border fraud matters.  Acting FTC Chairman Maureen K. Ohlhausen signed the MOU on behalf of the United States, and Commissioner Bob Paulson signed on behalf of the RCMP and Canada. The MOU concerns… Continue Reading

First Defendant Prosecuted Under New Arizona Telemarketing Law Pleads Guilty

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
On January 18, Lukeroy Rose, owner of Phoenix-based Rose Marketing LLC, pled guilty pursuant to a plea agreement to charges of theft, unlawful telephone solicitations, and conspiracy to commit theft.  Rose was arrested in December 2016 pursuant to the newly amended Arizona Telephone Solicitations statute, Ariz. Rev. Stat. § 44-1277, which makes it a Class… Continue Reading

Attorney and Mortgage Relief Scam Operator Banned from Debt Relief Business

Posted in ALL CFS Blog Entries, Mortgage Lenders & Servicers, State Attorneys General, CFPB, & FTC
An operator of a mortgage relief scam and an attorney agreed to court orders banning them from the debt relief business in order to resolve allegations brought by the FTC that they swindled millions of dollars from financially distressed homeowners. According to the FTC’s Complaint, in the scheme, Damian Kutzner and four attorneys operating as… Continue Reading

FTC and Florida Settle with More Defendants Involved in Alleged Telemarketing Debt Relief Scam

Posted in ALL CFS Blog Entries, Payment Processing & Cards, State Attorneys General, CFPB, & FTC
Approximately a year after filing an amended complaint and three months after settling with a group of co-defendants, the Federal Trade Commission and Florida Attorney General have filed papers seeking entry of agreed permanent injunctions and monetary judgments against a second group of co-defendants involved in an alleged nationwide debt relief telemarketing scam.  The proposed… Continue Reading

Consumers Duped by Telemarketing Debt Collection Scheme Will Soon See Refund Payment

Posted in ALL CFS Blog Entries, Debt Buyers & Collectors, State Attorneys General, CFPB, & FTC
The Federal Trade Commission has begun mailing checks totaling over $830,000 to almost 3,500 consumers who fell victim to a telemarketing debt collection scheme targeting Spanish-speaking consumers for payment of bogus debts.  Centro Natural Corp, Sumore LLC, and several individuals operated a telemarketing debt collection scam that used international callers who claimed to be government… Continue Reading

FTC to Host Identity Theft Conference

Posted in ALL CFS Blog Entries, Cyber Security, Information Governance & Privacy, State Attorneys General, CFPB, & FTC
On May 24, 2017, the Federal Trade Commission will host an all-day conference in Washington, D.C., examining the state of identity theft and how it may evolve in the future.  The conference, titled “Planning for the Future,” corresponds to the ten-year anniversary of the creation of the Identity Theft Task Force, which is co-chaired by… Continue Reading

OFAC Noncompliance Leads to Big Risks for TPPP

Posted in ALL CFS Blog Entries, Payment Processing & Cards
Government agencies continue to scrutinize third-party payment processors for high-risk transactions and, when appropriate, respond to alleged violations with investigations and enforcement actions.  Industry members are most likely familiar with the numerous enforcement actions brought in recent years by the Federal Trade Commission, the Consumer Financial Protection Bureau, and the Department of Justice.  Recently, however,… Continue Reading

FTC and Florida Settle with Defendants Involved in Alleged Telemarketing Debt Relief Scam

Posted in ALL CFS Blog Entries, Payment Processing & Cards, State Attorneys General, CFPB, & FTC
Nine months after filing an amended complaint, the FTC and Florida Attorney General have filed papers seeking entry of agreed permanent injunctions and monetary judgments against numerous defendants involved in an alleged nationwide debt relief telemarketing scam.  The proposed settlements resolve allegations that the defendants violated the FTC Act, the Telemarketing Act, the Telemarketing Sales… Continue Reading

California Federal Judge Rejects Class Action Settlement Due to Broad Release Provisions and Inadequate Notice

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
A California federal judge recently refused to approve a class action settlement jointly recommended by the parties upon a finding that the proposed settlement was not fair, adequate, or reasonable for unnamed class members.    In 2012, consumers filed suit in a California federal court against homeopathic remedy manufacturer Similasan, alleging the company’s packaging and advertising… Continue Reading

FTC Approves Increasing Civil Penalty Amounts

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
The FTC recently approved increases to the maximum civil penalty amounts available for violations of statutes subject to FTC enforcement.  The Federal Civil Penalties Inflation Adjustment Act of 2015 authorizes increases affecting sixteen statutes under FTC enforcement authority. The amended maximums take effect August 1, 2016. New maximum civil penalties for the following violations will… Continue Reading

FTC Gets $27 Million Settlement and Continues Trend of Targeting Tech Support Scammers

Posted in ALL CFS Blog Entries, Cyber Security, Information Governance & Privacy, State Attorneys General, CFPB, & FTC
The Federal Trade Commission (“FTC”) and Florida have settled charges against Vast Tech Support LLC, OMG Tech Help, their founder and COO Mark Donohue, and related companies regarding claims of deceptive marketing of computer software and tech support services.  The settlement continues the FTC’s trend of enforcement actions that target scammers who scare consumers into… Continue Reading

Troutman Sanders Lawyers Publish Consumer Financial Regulation Survey

Posted in ALL CFS Blog Entries, Auto Finance, Background Screening, Credit Reporting & Data Brokers, Debt Buyers & Collectors, Mortgage Lenders & Servicers, Payment Processing & Cards
We are pleased to announce that Troutman Sanders attorneys David Anthony, Ashley Taylor, Paige Fitzgerald, and Laura Anne Kuykendall published a survey through Thomson Reuters which focuses on consumer financial regulation issues for the Commonwealth of Virginia.  The survey is formatted as a question and answer guide, and addresses state-specific laws governing the offering and… Continue Reading

FTC Adds Three New Defendants in Tech Support Scam Case

Posted in ALL CFS Blog Entries, Cyber Security, Information Governance & Privacy, State Attorneys General, CFPB, & FTC
The Federal Trade Commission, Connecticut, and Pennsylvania have added three new defendants and new charges in a case pending in the United States District Court for the Eastern District of Pennsylvania, alleging that the defendants deceived consumers into buying unneeded tech support services.  According to the amended complaint, the defendants allegedly pretended to represent Microsoft,… Continue Reading

FTC and Phone Billing Companies Settle Contempt Charges for Unauthorized Billing

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
The Federal Trade Commission and several telephone billing companies submitted a proposed stipulated order to the United States District Court for the Western District of Texas to resolve allegations that the billing companies violated a 1999 court order and permanent injunction concerning charges of phone bill cramming.  The billing companies have agreed to pay $5.2… Continue Reading

FTC and Maine Attorney General Action Against Weight Loss Supplement Sellers Results in Joint $16.4 Million Settlement

Posted in ALL CFS Blog Entries, State Attorneys General, CFPB, & FTC
The FTC and Maine Office of the Attorney General recently announced a joint settlement with two Portland-based sellers of weight loss supplements.  The joint complaint filed in the United States District Court for the District of Maine alleged that Anthony Dill, his wife Staci Dill, and their two companies, Direct Alternatives and Original Organics LLC,… Continue Reading

FTC Unveils Upgrades to IdentityTheft.gov

Posted in ALL CFS Blog Entries, Cyber Security, Information Governance & Privacy, State Attorneys General, CFPB, & FTC
The Federal Trade Commission recently unveiled significant enhancements to its online portal designed to help victims recover from identity theft.  Victims can now file a complaint with the FTC at identitytheft.gov and get a free, personalized identity theft recovery plan.  The upgraded site comes in response to an October 2014 executive order issued by President… Continue Reading

FTC and Florida Seek Redress Against Credit Card Payment Processor for Role in Telemarketing Debt Relief Scam

Posted in ALL CFS Blog Entries, Payment Processing & Cards, State Attorneys General, CFPB, & FTC
In late December, the Federal Trade Commission and Florida Attorney General filed an amended complaint in an action pending in the United States District Court for the Middle District of Florida that charged nine defendants with violations of the Federal Trade Commission Act, the Telemarketing and Consumer Fraud and Abuse Prevention Act (“Telemarketing Act”), the… Continue Reading