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Supreme Court Decision Likely to Result in Even Closer Cooperation Between FTC and State Attorneys General

Bernie Nash, Milton A. Marquis, and Mira Baylson, Members of Cozen O’Connor’s State Attorneys General Practice, penned an article discussing the impact of the U.S. Supreme Court’s recent decision in AMG Capital Management LLC v. Federal Trade Commission that curtailed the FTC’s ability to seek monetary relief for unfair or deceptive acts in federal court.

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Smart Home Monitoring Company Pays $20 Million to Settle Allegations of Consumer Credit Reports Misuse

The Federal Trade Commission (“FTC”) reached a settlement with smart home security and monitoring company Vivint Smart Homes Inc. (“Vivint”) to resolve allegations that it improperly obtained and misused consumer credit reports in violation of the FTC Act, the Fair Credit Reporting Act, and the Red Flag rule. The complaint alleged, among other things, that…

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Residential Landlords Reminded of Tenant Protections Under CDC’s Eviction Moratorium

The Federal Trade Commission (“FTC”) and the Consumer Financial Protection Bureau (“CFPB”) sent joint notification letters to the largest residential landlords in the United States, reminding them of the COVID-19-related federal protections for tenants.

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Bipartisan Group of Attorneys General Seeks Repeal of Trump-Era True Lender Rule

A bipartisan group of 25 AGs, led by Illinois AG Kwame Raoul, sent a letter to Congress urging it to use the Congressional Review Act (“CRA”) to rescind a Trump-era True Lender Rule, which provides guidance on determining whether a national bank or federal savings association is the “true lender” on a loan in the context of a bank’s relationship with a third party.

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Lender Allegedly Used Unlawful and Misleading Tactics to Market Reverse Mortgages

The Consumer Financial Protection Bureau (“CFPB”) reached a settlement with reverse-mortgage lender Nationwide Equities Corporation (“Nationwide Equities”) to resolve allegations that it used false and misleading advertising to market its reverse mortgages in violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Truth in Lending Act, and the Mortgage Acts and Practices…

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