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On May 12, the Senate Commerce Committee voted overwhelmingly to move forward with Lina Khan’s nomination to the Federal Trade Commission (FTC), which suggest that Khan is likely to be confirmed as an FTC commissioner by the full Senate. Khan has been a critic of big tech and advocate of competitive markets, as we previously

The Department of Financial Protection and Innovation (DFPI) of California entered a settlement agreement with Chime Financial, Inc. (Chime), a neobank company that is not licensed to operate as a bank or otherwise exempt from licensure, but works with banking partners to issue consumer banking products. The DFPI found that Chime potentially violated California Financial

The Federal Trade Commission (FTC) is acting swiftly to restore its authority to obtain consumer redress under Section 13(b) of the FTC Act after the Supreme Court’s recent decision in AMG Capital Management, LLC v. FTC, discussed in our blog post here, rejecting the agency’s longstanding position that Section 13(b) authorizes monetary remedies.

Additional authors: Robin P. Sumner and Samuel D. Harrison

On April 22 the Supreme Court held in AMG Capital Management, LLC v. FTC[1] that the Federal Trade Commission (FTC) does not have authority under the Federal Trade Commission Act Section 13(b) to seek, nor a court to award, equitable monetary relief, such as restitution

Beam Financial, Inc. (Beam), a mobile banking app, will be banned from offering any service that may be used to deposit, store, or withdraw funds, and must give a full refund to users as part of a settlement with the Federal Trade Commission (FTC). It also is prohibited from misrepresenting the interest rates, restrictions, and

On March 31, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it is rescinding its April 1, 2020 policy statement regarding the Fair Credit Reporting Act (FCRA) and Regulation V following the enactment of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This recission is effective April 1.

Background

On March 27,

While the debate continues about whether the Federal Trade Commission (FTC) has the authority to make rules governing antitrust or competition law issues, on March 25, Acting FTC Chair Rebecca Kelly Slaughter announced the creation of a new group focused, in part, on new rules to prohibit unfair or deceptive practices and unfair methods of

On March 24, the Consumer Financial Protection Bureau (CFPB) provided the Consumer Response 2020 Annual Report (CFPB Report) to Congress. The CFPB Report reflects complaints submitted by consumers to the CFPB and analyzes those complaints.

In 2020, the CFPB saw a 54% rise in complaints from 2019 — with the total number increasing from 352,400

On March 25, the Federal Trade Commission (FTC or Commission) released an article reflecting on its work in 2020. The following are some of the most notable actions of the FTC in 2020:

  • The Commission launched a new website, where consumers can report scams and frauds.
  • A new initiative, called the Community Advocate Center,

On March 22, President Joe Biden announced his intent to nominate Lina Khan to be a commissioner of the Federal Trade Commission (FTC). Khan is an outspoken critic of big tech and a former legal advisor to FTC Commissioner Rohit Chopra, Biden’s nominee to lead the Consumer Financial Protection Bureau (CFPB). Khan’s anticipated nomination again