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,…

Read More

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…

Read More

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…

Read More

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…

Read More

A U.S. District Court has granted a preliminary injunction in National Treasury Employees Union v. Vought preventing the CFPB’s Acting Director from taking further steps to dismantle the agency. In an amicus brief supporting the injunction, 23 Democratic AGs argued that the administration’s actions—including suspending agency operations and refusing to draw funds from the Federal Reserve—are…

Read More