On January 18, Alaska Governor Mike Dunleavy appointed Clyde “Ed” Sniffen to be Alaska’s next attorney general, subject to approval by the Alaska legislature. Sniffen has served as acting attorney general since the resignation of Kevin Clarkson in August 2020.
In December 2020, Sniffen was among the state attorneys general who supported an amicus brief
The Consumer Financial Protection Bureau (CFPB) will soon fall under the leadership of an aggressive consumer advocate. On January 18, President-elect Joe Biden announced that he will nominate current Federal Trade Commission (FTC) Commissioner Rohit Chopra to be the next director of the agency.
A CFPB veteran, Chopra holds a B.A. from Harvard and an
A group of state attorneys general, led by New York A.G. Letitia James, are attempting to stop the Office of the Comptroller of the Currency (“OCC”) from implementing its new True Lender Rule that is now in effect. The state attorneys general allege that by implementing the Rule, the OCC is once again fostering
On December 30, 2020, Judge Richard J. Leon on the United States District Court for the District of Columbia entered an Order in PayPal, Inc. v. Consumer Financial Protection Bureau, et al., No. 19-3700-RJL, 2020 WL 7773392 (D.D.C. Dec. 30, 2020) invalidating two provisions of the Consumer Financial Protection Bureau (“the CFPB” or “Bureau”)’s “Prepaid
In anticipation of the “GSE patch” expiring, the Consumer Financial Protection Bureau (“CFPB”) issued several final rules in 2020 to amend Regulation Z (“Reg. Z”). Concerns have existed that the expiration of the GSE patch would restrict consumer mortgage credit unless the CFPB created a permanent version of the GSE patch or revised the General
Seven state attorneys general, led by New York Attorney General Letitia James, reached a settlement with Residual Pumpkin Entity LLC (formerly known as CafePress LLC) (“CafePress”), related to a 2019 data security incident, exposing 22 million customer accounts and as many as 186,000 social security and tax identification numbers.
Background
Based on the state attorneys
On remand from the United States Supreme Court, the United States Court of Appeals for the Ninth Circuit, in Consumer Fin. Prot. Bureau v. Seila Law LLC, reaffirmed a District Court grant of a petition by the Consumer Financial Protection Bureau, Petitioner-Appellee, to enforce a civil investigatory demand issued to Seila Law LLC, Respondent-Appellant,
Midwest Recovery Systems (“Midwest Recovery”), a debt collection company, must cease its alleged debt-parking practices, delete all reported debts, and surrender its remaining assets in partial payment of a $24.3 million monetary judgment, under a stipulated order filed by the Federal Trade Commission (“FTC”) last week. Debt parking, also known as “passive debt collection,” occurs
We reported in September of this year on a demand from multiple consumer advocacy groups to the Consumer Financial Protection Bureau (“CFPB”) to rescind its April 1, 2020, credit report guidance that relaxed the Fair Credit Reporting Act’s (“FCRA”) deadlines to investigate consumer-initiated direct disputes. In a letter dated November 9, 2020, CFPB Director Kathleen
Following a Consumer Financial Protection Bureau (“CFPB”) investigation into its credit reporting procedures, telecommunications debt collector Afni, Inc. agreed Thursday to implement additional safeguards against inaccurate reporting and pay a $500,000 civil penalty.
The CFPB’s investigation found that Afni had violated the Fair Credit Reporting Act (“FCRA”) in several ways. First, Afni had negligently furnished
