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Stephen represents clients interacting with, and being investigated by, state attorneys general and other enforcement bodies, including the CFPB and FTC, as well as clients involved with litigation, particularly in heavily regulated industries.

In response to the Fifth Circuit’s ruling in Community Financial Services Association of America, Ltd. v. Consumer Financial Protection Bureau (CFSA) that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism is unconstitutional, West Virginia Attorney General Patrick Morrisey sent a letter on October 24th to the CFPB, calling its continued operations into question and foreshadowing

On June 28, the U.S. Chamber of Commerce (Chamber) launched a focused campaign to highlight what it describes as unlawful regulatory overreach by the Consumer Financial Protection Bureau (CFPB or Bureau) and, specifically, new CFPB Director Rohit Chopra. “At every turn,” writes Chamber Executive Vice President and Chief Counsel Daryl Joseffer, the CFPB is pushing

In a keynote address at the Consumer Federation of America’s 2022 Consumer Assembly, CFPB Deputy Director Zixta Martinez squarely took aim at “rent-a-bank schemes” in some of the first (if not the first) such comments by a senior CFPB official. Historically, the CFPB has confined itself to “true lender” litigation against participants in high-rate

On February 25, the Utah Senate passed the Utah Consumer Privacy Act (the UCPA), which closely resembles both the Virginia Consumer Data Protection Act (the VCDPA) and the Colorado Privacy Act (the CPA). The House unanimously passed the bill on March 2. The bill now goes to Governor Spencer Cox, who has 20 days to

On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair, deceptive, and abusive student loan origination and servicing practices. The $1.8 billion settlement will undoubtedly draw eyes, but perhaps just as important

Over the past several years, the Democratic commissioners of the U.S. Federal Trade Commission (FTC) have made clear their dissatisfaction with the agency’s historic treatment of pharmaceutical mergers. Now, it appears that the FTC has launched a process aimed at changing the way in which such transactions are analyzed and ultimately resolved.

Past dissenting statements

2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions and stay ahead of the compliance curve.

In this report, we share developments in 2020 on consumer class actions, background screening, bankruptcy,

On May 6, twenty-four state attorneys general led by Massachusetts Attorney General Maura Healey called for action from Congress, urging House of Representative and Senate leaders to come together to resolve the mounting issues with the Paycheck Protection Program (“PPP”). Against the backdrop of a record 33 million Americans filing for unemployment and daily news

The Federal Trade Commission released guidance for increasing privacy and data security while videoconferencing over the internet. The FTC is recommending that video conference users take the following steps:

  1. Make sure that only those individuals who were invited to the meeting are in attendance by securing the meeting by password or providing unique meeting and/or

*Current as of April 8. This update accounts for guidance from 17 additional states and the District of Columbia.

As states shut down normal operations in response to the novel coronavirus (COVID-19), governors and state attorneys general across the country have offered guidance to local governments about how to balance state laws that emphasize