On December 23, the Consumer Financial Protection Bureau issued a proposed rule amending Regulation E, 12 C.F.R. §§ 205.1 et seq. – which implements the Electronic Fund Transfer Act, 15 U.S.C. §§ 1693 et seq. – and Regulation Z, 12 C.F.R. §§ 226.1 et seq. – which implements the Truth in Lending Act, 15 U.S.C.
FTC Alleges Deceptive Advertising in Suits Against Two Car Dealership Chains
The FTC announced this week that it was bringing claims against two auto dealership chains alleging that they had violated the terms of two 2012 administrative orders prohibiting the dealerships from misrepresenting financing and lease terms in their advertising.
First, the FTC sued the Billion Auto dealerships – a chain of 20 dealerships in Iowa,
Study by Consumer Credit Group Takes Issue with CFPB Method of Finding Auto Lending Bias
The American Financial Services Association (AFSA), a consumer credit industry trade association, released a study this month that took issue with the Consumer Financial Protection Bureau’s method of measuring discrimination in the automotive lending business.
The study, which was carried out by Charles River Associates and based on over eight million vehicle finance contracts issued
Prosecutors Charge Georgia Debt Collector with Illegal Collection Practices
The United States Attorney for the Southern District of New York this month brought criminal charges against Williams Scott & Associates LLC and seven of its employees for allegedly engaging in illegal practices to collect more than $4 million from 6,000 victims across the country.
The charges of conspiracy to commit wire fraud followed a
Trade Association Responds to Louisiana Attorney General’s Lawsuit Aimed at Limiting Use of Recycled Parts in Auto Repairs
The Automotive Recyclers Association (ARA) sent a letter to Louisiana Attorney General James D. “Buddy” Caldwell this past week to dispute statements made by the Attorney General about a recent lawsuit filed against State Farm Insurance, which called into question State Farm’s practice of encouraging repair shops to use recycled parts when repairing damaged vehicles.
National Association of Attorneys General (NAAG) Hosts Fall Consumer Protection Seminar
On Monday, October 20, 2014, Rhode Island Attorney General and NAAG Consumer Protection Committee Chair Peter Kilmartin and North Dakota Attorney General and NAAG Consumer Protection Committee Vice Chair Wayne Stenehjem extend a public invitation to attend the 2014 Fall Consumer Protection Seminar in Providence, Rhode Island. Several members of our Troutman Sanders’ State Attorneys
Attorneys General Request Opinion from FCC on Call-Blocking Technology
On September 9, the National Association of Attorneys General (NAAG) sent Federal Communications Commission Chairman Tom Wheeler a request signed by 39 state attorneys general for an opinion on telecommunication companies’ legal ability to implement call-blocking technology.
The letter brought to the attention of the FCC recent advancements in call-blocking technology such as Call Control,
State Attorneys General File Lawsuits against 5-Hour ENERGY® for Deceptive Marketing
State Attorneys General from Washington, Oregon and Vermont filed suit against Living Essentials, the manufacturer of the popular energy supplement, 5-Hour ENERGY®, for allegedly deceptive marketing. The lawsuits seek injunctive relief as well as civil penalties and restitution to consumers. In a statement late last week, Oregon Attorney General Ellen Rosenblum said, “[p]lainly and simply,
USA Discounters Investigated and Penalized by CFPB
As we discussed here, regulators have been keeping close watch on USA Discounters. Today, the CFPB announced that it has “ordered the company to refund $350,000 to service members tricked into paying fees for benefits available for free.” Last week, several senators wrote a letter urging the CFPB to investigate the findings of a
CFPB and 13 State AGs Team Up to Obtain Roughly $92 Million in Debt Relief from Rome Finance
Earlier today, the Consumer Financial Protection Bureau and thirteen state attorneys general released a Consent Order with Colfax Capital Corporation and Culver Capital, LLC, collectively known as “Rome Finance”, for approximately 17,000 military servicemembers and others harmed by predatory lending. This is the latest in an increasingly joint effort by state attorneys general and the