A bipartisan coalition of 23 AGs and several state banking regulators submitted a comment letter urging the OCC to withdraw two proposals addressing mortgage escrow accounts—an escrow rule and a related preemption determination that would preempt certain state laws requiring national banks to pay minimum interest on mortgage escrow accounts. In the letter, the states…

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Massachusetts AG Andrea Joy Campbell filed a lawsuit against Bitcoin Depot Operating LLC and its parent, Bitcoin Depot, Inc., alleging the company violated the Massachusetts Consumer Protection Law and related regulations by using deceptive pricing practices at its cryptocurrency kiosks and by failing to take meaningful steps to prevent scam transactions.

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Capital One reached a $425 million class action settlement with its 360 Savings customers, resolving claims that the bank misled customers and deprived them of higher interest payments over several years. A bipartisan coalition of AGs opposed an earlier proposed settlement for significantly less money, arguing that it would have shortchanged 360 Savings customers. The…

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A group of 21 Democratic AGs submitted a comment letter to the CFPB opposing a proposed rule that would rescind or revise key provisions of Regulation B implementing the Equal Credit Opportunity Act (ECOA). In the letter, the AGs argue that the proposed rescission of regulations authorizing a disparate impact theory of discrimination and the…

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Seven Democratic AGs, co-led by North Carolina AG Jeff Jackson, sent letters to the six largest Buy-Now-Pay-Later (BNPL) providers seeking information about their lending practices and whether they are complying with state consumer protection laws. In their letters, the AGs note that point-of-sale financing has become increasingly common in online shopping. They raise concerns that…

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