In this Law360 article, AGs Take Up Consumer Protection Mantle Amid CFPB Cuts, State AG Group members Dustin McDaniel and Grace Garver discuss the uncertain future of the CFPB amid sweeping changes by the Trump administration. As a result of the evolving financial regulatory environment, state attorneys general are increasingly stepping up to fill the…

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New York AG Letitia James sued Capital One N.A. and Capital One Financial Corporation (collectively, “Capital One”) over alleged violations of state and federal consumer protection laws stemming from the marketing of their savings accounts. The lawsuit comes after the CFPB voluntarily dropped a lawsuit against Capital One containing similar allegations. According to the complaint,…

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Oregon AG Dan Rayfield has filed a lawsuit against cryptocurrency trading platform Coinbase, alleging that the company failed to protect consumers from unregistered and high-risk cryptocurrencies in violation of Oregon Securities Law. The complaint claims that Coinbase operates an exchange that facilitates and promotes the sale of unregistered securities to consumers, which the AG alleges hinders…

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A group of 23 Democratic AGs and Hawaii’s Office of Consumer Protection sent a letter to U.S. House of Representatives leaders urging them to vote against House Joint Resolution 59, which would overturn the CFPB’s 2024 Rule limiting overdraft fees by large financial institutions. In their letter, the AGs argue that the purported bases for…

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The FTC has reached a proposed settlement with Cleo AI, Inc., resolving allegations that the personal finance app violated the FTC Act and the Restore Online Shoppers’ Confidence Act through deceptive marketing and billing practices related to its cash advance services. According to the FTC’s complaint, Cleo allegedly misled users by advertising instant or same-day cash advances of…

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