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
Troutman Sanders Named Among 2016 Practice Groups of the Year
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
CashCall and Western Sky Financial Settle with Florida AG
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,
Arkansas AG Files Suit Against Credit Repair Organization
On December 20, Arkansas Attorney General Leslie Rutledge filed a consumer protection lawsuit in the United States District Court for the Eastern District of Arkansas against Florida-based Capital Credit Solutions Inc. and Willie J. McKenzie for alleged violations of the Federal Credit Repair Organization Act, the Arkansas Deceptive Trade Practices Act, and the Arkansas Credit
FTC and Florida Settle with More Defendants Involved in Alleged Telemarketing Debt Relief Scam
Approximately a year after filing an amended complaint and three months after settling with a group of co-defendants, the Federal Trade Commission and Florida Attorney General have filed papers seeking entry of agreed permanent injunctions and monetary judgments against a second group of co-defendants involved in an alleged nationwide debt relief telemarketing scam. The
DraftKings and FanDuel Settle Case with NY A.G. for $12 Million
In likely the final chapter of a case covered previously by this blog, the New York Attorney General recently announced settlements with daily fantasy sport companies Draft Kings, Inc. and FanDuel, Inc. The companies will each pay $6 million in penalties and fees to the state of New York, in order to settle alleged false
Investigation of Ashley Madison by FTC and State AGs Ends in Settlement Agreement
On December 14, the FTC, along with a coalition of 13 states and the District of Columbia, entered into a settlement agreement with Ashley Madison over allegations that the online dating site deceived consumers and failed to protect 36 million users’ account and profile information in relation to a massive July 2015 data breach.
FTC and Florida Settle with Defendants Involved in Alleged Telemarketing Debt Relief Scam
Nine months after filing an amended complaint, the FTC and Florida Attorney General have filed papers seeking entry of agreed permanent injunctions and monetary judgments against numerous defendants involved in an alleged nationwide debt relief telemarketing scam. The proposed settlements resolve allegations that the defendants violated the FTC Act, the Telemarketing Act, the Telemarketing
Minnesota AG Settles Lawsuit with Online Payday Lender
On August 18, the Minnesota Attorney General announced that it had settled a lawsuit against online money lender CashCall, Inc. The State of Minnesota alleged that CashCall violated Minnesota’s usury, lending, and licensure laws by entering into an arrangement in which a company affiliated with a Native American tribe would loan money to Minnesota citizens
Washington AG Sues Comcast for Alleged Deceptive Practices, Seeks Over $100 Million
The Washington Attorney General has filed a lawsuit against internet and cable company Comcast, alleging more than 1.8 million violations of the Washington state Consumer Protection Act and seeks over $100 million in penalties as well as injunctive relief. The Washington Attorney General’s Office says that the lawsuit is the “first of its kind in