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In a significant but unsurprising move, the CFPB announced today that it was rescinding a policy statement issued in January 2020 that sought to tether the Bureau’s “abusive” authority to certain limiting principles.  The move signals that the Bureau is likely to interpret its authority to prevent “abusive acts and practices” under the Dodd-Frank Act

President Biden’s nominee to serve as CFPB Director, Rohit Chopra, today testified in front of the Senate Banking Committee about his potential regulatory and enforcement priorities as head of the consumer finance regulator. As we previously discussed, President Biden tapped Chopra, three years into his tenure as FTC Commissioner, to serve as Director

Ad Law Access PodcastOften when people think about the Consumer Financial Protection Bureau (CFPB) they say to themselves, “well, I’m not a bank so that doesn’t really apply to me.” But consumer financial protection laws are actually much broader and cover all aspects of consumer financial products, any way that consumers bank, pay, or finance transactions and the

Things are about to change dramatically at the CFPB.  President-elect Joe Biden today nominated Rohit Chopra, a current commissioner at the Federal Trade Commission and long-time proponent of aggressive enforcement, to serve as director of the Consumer Financial Protection Bureau.

We knew that the incoming Biden administration would entail significant change on many fronts from

The FTC today announced four new enforcement actions and one new settlement alleging deceptive income claims in violation of the FTC Act.  The FTC noted that these actions are part of a broader initiative branded as “Operation Income Illusion,” which it described as a crackdown “against the operators of work-from-home and employment scams, pyramid schemes,

Turns out the best defense may not be a good offense, at least when litigating against the FTC.  The Northern District of Illinois yesterday rejected an attempt by multi-level marketer Neora, LLC (formerly Nerium) to obtain a declaratory judgment that the company did not operate as a pyramid scheme and that the FTC was not

The replay of our recent webinar Product and Earnings Claims in the Time of COVID-19 is available here.

The FTC has recently sent warning letters to hundreds of companies for allegedly falsely implying that products can be used to treat, cure, mitigate, or prevent COVID-19. The FTC has also issued warning letters for implied

Last week, the FTC sent warning letters to ten multi-level marketing companies alleging that the companies failed to stop their participants from making deceptive product and earnings claims related to COVID-19.  The letters request that the companies report within 48 hours what actions they have taken to stop their distributors from claiming their products can

The COVID-19 pandemic continues to have far-reaching effects on businesses and consumers everywhere.  While many states are taking broadly consistent approaches on certain issues (e.g., price gouging, non-essential business closures), one area where we’ve seen significant divergence involves regulation of collection efforts – both by first party creditors and debt collectors.  In