Menu

News & Insights

  • Clear

Credit Union’s Botched Rollout of Online Platform Draws CFPB’s Interest

The CFPB has reached a settlement with VyStar Credit Union to resolve allegations that its defective new online banking platform violated the Consumer Financial Protection Act of 2010. According to the consent order, VyStar’s new online banking platform allegedly crashed soon after launch and, when brought back online, lacked key banking services for weeks or months, causing…

Read More

FTC Accuses Cash-Advance App of Misleading Consumers

The FTC has filed a lawsuit against online cash advance app Dave, Inc. alleging that it misled consumers about cash advances and fees in violation of the FTC Act and the Restore Online Shoppers’ Confidence Act.

Read More

CFPB Finalizes Personal Financial Data Rights Rule

The CFPB has finalized a rule promoting a shift toward open and decentralized banking by requiring depository and nondepository entities to make certain data relating to consumers’ transactions and accounts available to consumers and authorized third parties.

Read More

Unpacking State AG Approaches To Digital Asset Enforcement

In this Expert Analysis for Law360, Unpacking State AG Approaches To Digital Asset Enforcement,  Stephen Cobb, Keturah Taylor and Grace Garver (State AG Group, Washington DC), discuss state AGs’ approach to digital asset enforcement and their prioritization of emerging technologies and industry-disrupting products over the past decade. Read more here.

Read More

Auto Financing in the Headlights of CFPB Report

The CFPB issued a Supervisory Highlight detailing findings related to potentially illegal practices by auto-finance companies. The Supervisory Highlight’s key observations include that certain auto-finance companies allegedly repossessed consumers’ cars despite timely payments or loan extensions; provided inaccurate disclosures; misapplied loan payments; put incorrect information on credit reports; misled borrowers about the possibility of qualifying for…

Read More