Don’t let your payment platforms attract regulatory scrutiny
In Legal Dive, Siran Faulders and Keturah Taylor offer principles to help companies that provide or use payments fintech avoid regulatory scrutiny and costly investigation.
News & Insights
CFPB: Add-On Products for Loans Must Be Truly Optional
The CFPB issued an order against OneMain Financial, Inc. and affiliated entities for allegedly deceptive acts and practices in violation of the Consumer Financial Protection Act of 2010 in connection with providing personal installment loans. According to the order, the lender deceived consumers into signing up for optional add-on products such as roadside assistance benefits…
Pennsylvania AG Settles for $11.4 Million over Allegedly Predatory Lending Scheme Targeting Low-Income Retail Purchasers
Pennsylvania AG Michelle Henry settled with Snap Finance LLC and its subsidiaries to resolve allegations the lending company violated various state consumer protection laws by providing predatory, deceptive loans to low-income individuals financing large retail purchases. According to the AG, Snap Finance marketed its loans as having short pay-back periods, but actually locked consumers into…
Coin Cafe Settles with New York AG for $4.3 Million to Resolve Allegations of Exorbitant and Deceptive Crypto Storage Fees
New York AG Letitia James settled with cryptocurrency trading platform Coin Cafe, Inc. to resolve allegations that the company violated the Martin Act and New York Executive Law by misleading investors about the excessive storage fees it charged to use its wallet storage services.
Quick Guide: S3 SNEAK PREVIEW - NJ AG Takes On AI-backed Crypto Tool That Claims 1000% Returns
In Season 3 of State AG Pulse which will launch in Fall 2023, we’ll be bringing you a new approach to state AG news.
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