In a January 10 report titled, “Virtual Currencies: Additional Information Could Improve Federal Agency Efforts to Counter Human and Drug Trafficking,” the Government Accountability Office (GAO) identified virtual currency kiosks as one reason driving an increase in the use of crypto payments to facilitate illegal activities, such as human and drug trafficking. According to the
On December 8, 2021, the Consumer Financial Protection Bureau (CFPB) published the 25th edition of its Supervisory Highlights report, which summarized key findings from examinations completed between January 2021 and June 2021. While the report covers a number of areas of consumer finance, it specifically stated the CFPB “is prioritizing mortgage servicing supervision work
Q. My company uses dash-cams to monitor driver conduct, but the company is not located in Illinois. Do I still have to comply with the Biometric Information Privacy Act?
A. Yes, as long as the company has drivers who are Illinois residents, you must comply with BIPA. The good news, however, is that as long
On January 10, the Federal Trade Commission (FTC) issued an alert about a new cryptocurrency payment scam involving impersonators convincing consumers to send money obtained from a cryptocurrency automated teller machine (ATM) via a quick response (QR) code.
According to the FTC, this is a new twist on scammers pretending to be someone a person
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can
The U.S. Supreme Court’s long-awaited decision in Facebook v. Duguid, 141 S. Ct. 1163 (2021), answered in the affirmative a question that had divided courts for years: Did the Telephone Consumer Protection Act’s (TCPA) definition of “automatic telephone dialing system” (ATDS) require random or sequential number generation? But it also created a new question:
Colorado and Delaware have enacted new laws for automatic renewal or negative options offers. The new laws became effective January 1, 2022. Illinois already has a law on the books related to automatic renewals but has recently made a few minor amendments to it.
Colorado. Companies must disclose the following in a clear and conspicuous
David Anthony, a partner with Troutman Pepper, is quoted in the Law360 article, “Consumer Protection Cases and Policy to Watch in 2022.”
“Although Facebook endeavored to answer the question of what constitutes an ATDS, it left many other questions unanswered and raised others,” said David Anthony, a partner at Troutman Pepper. “These questions
Companies are not the only ones with exposure in consumer protection suits, as a defendant company’s director was reminded earlier this month in Zoppi v. Proform Trading LLC, No. 2:21-cv-2307 (D.N.J. Dec. 9, 2021). There, the federal district court granted the plaintiff’s motion to amend his complaint to bring Telephone Consumer Protection Act