On January 12, the FTC held its second annual PrivacyCon conference in Washington. The day-long event featured presentations and exhibits by a number of scholars and privacy experts offering their research on consumer privacy and security in the digital age.
Chairwoman Edith Ramirez opened PrivacyCon by noting the myriad ways that consumer data is collected,
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
On the same day that House Democrats wrote to President-elect Donald Trump to defend controversial Consumer Financial Protection Bureau Director Richard Cordray, two Republican senators sent a letter to Vice President-elect Mike Pence to press for his removal. The letter, signed by Ben Sasse (Neb.) and Mike Lee (Utah), requested that Trump dismiss Cordray “promptly
On January 9, twenty-one Democrats from the House of Representatives sent a letter to President-elect Trump in defense of controversial Consumer Financial Protection Bureau Director Richard Cordray, urging Trump not to remove Cordray from his post. The letter began by noting that no President has ever removed an independent agency head for cause and threatened
Financial Services Practice Recognized for Excellence by Law360
Troutman Sanders LLP announced today that its Consumer Financial Services practice has been selected as one of Law360’s 2016 Practice Groups of the Year.
Troutman Sanders was recognized in Law360’s Consumer Protection category for excellence in representing and advising clients with respect to high-stakes litigation and
On December 22, the United States District Court for the Eastern District of Pennsylvania entered judgment in favor of the defendant in an action involving a Truth in Lending Act claim, and issued a stern rebuke to the plaintiff and his counsel, instituting Rule 11 proceedings and describing the case as “litigation out of control.”
On December 22, the California Supreme Court in Owen v. Miami Nation Enterprises, held that payday lending companies failed to prove by a preponderance of the evidence that they were “arms of” Indian tribes. Therefore, the lenders were not immune from complying with a California state lending law. In its decision, the Court reaffirmed
CashCall Inc. and Western Sky Financial LLC have settled another state action over alleged charging of interest rates in excess of the 18 percent limit. The action, filed by the Florida Office of Attorney General, alleged that loans with illegal interest rates were made to consumers by Western Sky and were later purchased, serviced,
On December 28, the New York Department of Financial Services (“NY DFS”) released its highly anticipated revised cyber security rule. As we previously noted here, the proposed regulations would require banks, insurance companies, and other financial services institutions to establish and maintain a cybersecurity program and to take other measures to protect against data
In its latest monthly snapshot report, the Consumer Financial Protection Bureau reported that it has handled approximately 285,800 debt collection complaints since July 21, 2011, making debt collection the most-complained-about product. Within the debt collection context, consumers’ most common complaint concerned attempts to collect on a debt that the consumer says is not owed.