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Category Archives: FTC

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CFPB to Participate in FTC Workshop on Consumer Disclosures

Posted in CFPB General, Financial Literacy, FTC, Privacy, Research, UDAAP

On September 15th, the FTC will hold a workshop to examine the testing and evaluation of disclosures that companies make to consumers about advertising claims, privacy practices, and other information.  The FTC’s workshop will explore how to test the effectiveness of these disclosures to ensure consumers notice them, understand them, and can use them in… More >

FTC holding FinTech forum on marketplace lending

Posted in FTC, Marketplace Lending

On June 9, 2016, the FTC will host a “FinTech forum on marketplace lending,” the first in a forum series described by the FTC as “exploring emerging financial technology and its implications for consumers.”  According to the FTC, the forum “will examine the range of marketplace lending models, their potential benefits to consumers, possible consumer protection… More >

FTC provides 2015 enforcement report to CFPB

Posted in FTC

The Federal Trade Commission has provided its annual report to the CFPB covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in Lending), Regulation M (Consumer Leasing), and Regulation E (Electronic Fund Transfers).  Under Dodd-Frank, the FTC retained its authority to enforce these regulations with respect to entities within its… More >

FTC to host June 9 forum on marketplace lending

Posted in FTC, Marketplace Lending

The interest of federal regulators in marketplace lending continues to grow.  In March 2016, the CFPB announced that it is taking complaints about marketplace lenders.  In July 2015, the Treasury Department issued a request for information regarding online marketplace lending and, in February 2016, the FDIC published an article highlighting the risks for banks that… More >

FTC sends 2015 ECOA report to CFPB

Posted in Fair Lending, FTC

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. The FTC has authority to enforce the ECOA and Reg B as to nonbank providers within its jurisdiction.  However, like last year’s letter on the FTC’s 2014 ECOA… More >

FTC warns use of big data may violate federal consumer protection laws

Posted in Credit Reports, Fair Lending, FTC, UDAAP

A new FTC report, “Big Data: A Tool for Inclusion or Exclusion? Understanding the Issues,” warns that certain uses of big data consisting of consumer information may implicate various federal consumer protection laws.  In the report, the FTC puts companies on notice that it intends “to monitor areas where big data practices could violate existing… More >

FTC seeks comments on preservation of consumer claims and defenses rule

Posted in FTC

In a Federal Register notice on December 1, 2015, the Federal Trade Commission announced that it is undertaking a review of its Trade Regulation Rule concerning the Preservation of Consumers’ Claims and Defenses (commonly referred to as the “Holder Rule”).  As part of the process, the FTC is soliciting public input on the efficacy, economic… More >

Is Online Lead Generation Inherently Deceptive?

Posted in CFPB General, FTC, Hot Issues, Lead Generation, Payday Lending

This post is the third in a series we’re writing on the FTC’s workshop on online lead generation entitled Follow the Lead. In our first post, we explored how online lead generation works. In our second, we covered the role that disclosures can and should play. Here, we will discuss the allegation the CFPB and certain consumer… More >

Company prevails in challenge to FTC data security complaint

Posted in Cybersecurity, FTC

As we have previously observed, banks and other companies subject to the CFPB’s jurisdiction face the possibility that the CFPB could begin using its authority under Sections 1031 and 1036 of the Dodd-Frank Act (which proscribe unfair, deceptive or abusive acts or practices) to regulate cybersecurity policies and procedures. For companies also subject to the… More >

Disclosure Confusion in the Online Lead Generation Industry

Posted in CFPB General, FTC, Hot Issues, Lead Generation, UDAAP

This post is the second in a series we’re writing on the FTC’s workshop on online lead generation entitled Follow the Lead. In our first post, we explored how online lead generation works. Here, we will discuss two fundamental questions surrounding the role that disclosures can and should play in the industry: What should be… More >

FTC and VA enter into agreement for investigating educational institutions

Posted in FTC, Military Issues

The Federal Trade Commission and the Department of Veterans Affairs have signed a “Memorandum of Agreement” (MOA) “to provide mutual assistance in the oversight and enforcement of laws pertaining to advertising, sales, and enrollment practices of institutions of higher learning and other establishments that offer training for military education benefits recipients.” Federal law (38 U.S.C…. More >

FTC announces “Operation Collection Protection”

Posted in Debt Collection, FTC

Last week, the FTC announced a new coordinated effort against unlawful debt collection practices, “Operation Collection Protection.”  The FTC also announced that federal, state and local law enforcement agencies have brought 30 new actions against debt collectors nationwide. In targeting debt collectors, the FTC is joining forces with the CFPB as well as the Department… More >

The Five Stages of Online Lead Generation

Posted in CFPB Enforcement, CFPB General, FTC, Hot Issues, Lead Generation

On October 30, the FTC presented a workshop on lead generation entitled Follow the Lead. Online lead generation is an area receiving increased regulatory scrutiny by the FTC and other regulators, including the CFPB. Over the next several days, we will be presenting a series of posts highlighting key issues in the industry and likely… More >

CFPB to participate in FTC Atlanta debt collection program

Posted in Debt Collection, FTC

The CFPB will be participating in the FTC’s third “Debt Collection Dialogue” to be held in in Atlanta, Georgia on November 18, 2015.  Gregory Nodler, CFPB Senior Counsel for Enforcement Policy and Strategy, is scheduled to be a panelist.  The program will include a discussion of enforcement actions, consumer complaints, compliance issues, industry best practices, and… More >

FTC releases agenda and panelists for lead generation workshop

Posted in FTC

The FTC has released the agenda and panelists for the workshop it will be holding on October 30, 2015 in Washington, D.C. on lead generation. According to the agenda, the workshop will include case studies on how lead generation is used in the lending industry and education marketplace and a discussion of consumer protection issues raised by lead… More >

CFPB to participate in Dallas FTC debt collection program

Posted in Debt Collection, FTC

The CFPB will be participating in the FTC’s second “Debt Collection Dialogue” to be held in Dallas, Texas on September 29, 2015.  Gregory Nodler, CFPB Senior Counsel for Enforcement Policy and Strategy, is scheduled to be a panelist.  The program will include a discussion of enforcement actions, consumer complaints, compliance issues, industry best practices, and… More >

FTC to hold workshop on lead generation

Posted in FTC

The Federal Trade Commission will be holding a workshop in Washington, D.C. on October 30, 2015 to explore the growing use of online lead generation in various industries, including consumer lending.  The workshop is free and open to the public. Participants in the workshop, “Follow the Lead: An FTC Workshop About Online Lead Generation,” will… More >

FTC provides 2014 enforcement report to CFPB

Posted in FTC

The Federal Trade Commission has provided its annual Financial Acts Enforcement Report to the CFPB covering the FTC’s enforcement activities in 2014 related to compliance with Regulation Z (Truth in Lending), Regulation M (Consumer Leasing), and Regulation E (Electronic Fund Transfers).  Under Dodd-Frank, the FTC retained its authority to enforce these regulations with respect to entities within… More >

CFPB takes action on misleading advertisements

Posted in CFPB Enforcement, FTC, Mortgages

Late last week, on February 12, the CFPB announced actions against three mortgage companies for alleged violations of Regulation N, the Mortgage Acts and Practices Advertising Rule.  Among other restrictions, Regulation N bars any commercial misrepresentation of the relationship between a credit provider and a government.  According to the CFPB, the three mortgage companies at… More >

CFPB Continues Focus on Latino Community

Posted in CFPB General, Credit Reports, Debt Collection, Diversity and Inclusion, FTC, Uncategorized

The CFPB and the FTC have announced that the agencies will host a joint roundtable entitled, “Debt Collection and the Latino Community,” on October 23, 2014. The roundtable will examine how debt collection and credit reporting issues affect Latino consumers, especially those who have limited English proficiency (LEP). Consumer advocates, industry representatives, state and federal… More >

CFPB and FTC Representatives Speak at Symposium on Fine Print

Posted in CFPB General, CFPB People, FTC

CFPB General Counsel Meredith Fuchs and CFPB Assistant General Counsel for Law and Policy Anne Zorc spoke last week at the Georgetown Consumer Law Society and Citizen Works’ symposium entitled “Making the Fine Print Fair.” The CFPB’s representatives focused on the Bureau’s updates to the RESPA-TILA integrated disclosures rule, about which we previously reported. According… More >

FTC Holds Seminar on Alternative Scoring Products

Posted in CFPB General, FTC

On March 19, 2014, the Federal Trade Commission hosted a seminar on Alternative Scoring Products, the second in its Spring Privacy Series. The speakers discussed the privacy concerns associated with predictive analytics products and scores that are offered by many data brokers. Alternative scores are used by companies to predict risks such as the likelihood… More >