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December 20, 2024 | New York Law Journal

CFPB Takes on BoA, Wells Fargo and JPMorgan Chase Over Zelle Fraud

The agency said they will seek cash damages to repay consumer losses over fraudulent activity. It claims that customers at the banks lost more than $870 million to fraud since Zelle's inception.
3 minute read
December 20, 2024 | Daily Business Review

Data Breaches, Increased Regulatory Risk and Florida’s New Digital Bill of Rights

Companies should be aware of the varying applicable regulatory frameworks required to protect consumer data and avoid additional penalties and liabilities under the growing number of data security enforcers.
7 minute read
December 20, 2024 | The Legal Intelligencer

Stacked Decks and Sealed Deals: How Arbitration Tilts the Scales

While vigorous efforts have been made to push the courts to interpret the Federal Arbitration Act (FAA) with an increasingly broad preemptive scope, effectively overriding state laws designed to regulate arbitration, recent decisions underscore that courts are not willing to uphold arbitration agreements when fairness and justice might be compromised. Legitimate concerns surrounding arbitration are prompting more judicial scrutiny—a trend worth examining.
8 minute read
December 17, 2024 | National Law Journal

CFPB Reports Widespread Misconduct Across Student Loan Market

The report “points to what a lot of us in the field think is a forthcoming default crisis and seeing a lot more federal student loan borrowers default into 2025,” said Stephanie Hall, a higher education policy expert at the Center for American Progress.
3 minute read
December 17, 2024 | The Legal Intelligencer

CFPB Advisory Opinion Targets Illegal Medical Debt Collection Tactics

Continuing its attack on the $220 billion worth of medical debt owed by Americans and the impact it can have on their lives, the Consumer Financial Protection Bureau recently issued guidance to medical debt collectors in the form of an advisory opinion. The opinion warned them that their debt collection activities may constitute unlawful practices under the Fair Debt Collection Practices Act and its implementing Regulation F.
8 minute read
December 17, 2024 | Corporate Counsel

Trump Mulls Big Changes to Banking Regulation, Unsettling the Industry

“The FDIC is the glue that holds the whole banking industry together. Getting rid of it is a very bad idea," said Bill Isaac, who was FDIC chair from 1981 and 1985.
5 minute read
December 13, 2024 | Litigation Daily

Litigator of the Week Runners-Up and Shout-Outs

A team at Munger, Tolles & Olson teamed with the Washington State Office of the Attorney General to secure a permanent injunction against the proposed $24.6 billion merger of the Kroger and Albertsons grocery chains.
6 minute read
December 12, 2024 | National Law Journal

CFPB Orders Big Banks to Limit Overdraft Fees to $5. But Will Its Edict Stick?

The agency set an October 2025 deadline for the new restrictions to take hold, giving enforcement authority to the incoming Trump administration.
3 minute read
December 04, 2024 | National Law Journal

FTC Reaches Settlements With Two Companies on Claims of Selling Sensitive Location Data

“The FTC is cracking down on firms that unlawfully exploit people’s sensitive location data and ensuring that we protect Americans from unchecked surveillance," said FTC Chair Lina Khan.
3 minute read

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