On September 10, Consumer Financial Protection Bureau Director Richard Cordray refused an appeal by members of Florida’s congressional delegation and the state’s top financial regulator to use Florida’s payday-lending rules as a model for planned federal regulation.  According to one source, Cordray indicated in a private meeting that he disagreed with certain aspects of Florida’s …

A recent Federal Trade Commission settlement with an auto lender highlights two basic requirements under the Fair Credit Reporting Act for companies that furnish consumer information to consumer reporting agencies (CRAs): (1) furnishers are required by federal law to have written policies aimed to ensure the accuracy and integrity of the information supplied, and (2) …

In Covarrubias v. CitiMortgage, Inc ., the plaintiff brought a lawsuit against CitiMortgage, claiming it improperly foreclosed on her home by failing to comply with U.S. Department of Housing and Urban Development regulations incorporated into her deed of trust.  Specifically, she claimed CitiMortgage failed to conduct, or make a reasonable effort to conduct, a…

On September 15, the United States District Court for the Middle District of Florida preliminarily approved a Fair Credit Reporting Act background check class action settlement in Speer v. Whole Foods Market Group, Inc.   We previously wrote about this lawsuit on the Consumer Financial Services Law Monitor blog here.  The settlement adds Whole Foods …

The Better Business Bureau recently released data from 2014 regarding the number of complaints received pertaining to registered debt collection agencies.  The statistics show a sharp decrease in the number of complaints lodged against debt collection agencies.  This number is contrary to data released by the Consumer Financial Protection Bureau, which show an increase in …

The Federal Trade Commission has closed an investigation into potential violations of the Fair Credit Reporting Act by a California-based health care company.  However, despite its decision to not recommend enforcement action, the Commission rejected the notion that the company’s use of background screening reports — or the use of reports to investigate job applicants …

The Federal Trade Commission is proactively encouraging start-ups to take cybersecurity seriously and include consumer data safeguards early in the innovation process.  At the FTC’s Start with Security conference in San Francisco on September 9, FTC Chairwoman Edith Ramirez called on innovators to instill a “culture of security” early in the product development lifecycle.

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Earlier this month, the New York City Commission on Human Rights provided enforcement guidance on the Stop Credit Discrimination in Employment Act (SCDEA).  The SCDEA took effect on September 3, 2015, and restricts employers from requesting or using applicants’ and employees’ credit history when making employment decisions.  The Commission referred to SCDEA as …

On September 8, the Federal Deposit Insurance Corporation announced that it had ordered Comenity LLC to pay nearly $64 million in civil money penalties and restitution for alleged deceptive advertising and marketing of credit card add-ons, in violation of Section 5 of the Federal Trade Commission Act.  Comenity LLC manages credit card programs for several …

The FTC announced it has changed the location and has re-opened registration for its second “Debt Collection Dialogue” in Dallas.  The September 29 event is now going to take place at Southern Methodist University’s Dedman School of Law.  Pre-registration, which originally closed on August 13, was re-opened for this larger event.

More information …