Author: adminhc

Taylor A. Krowitz, Justin B. Hosie, Julia K. Whitelock and Jason Esteves The Consumer Financial Protection Bureau (CFPB) has turned its attention to in-game currencies and purchases (commonly referred to as “microtransactions or “downloadable content”). On August 28, 2024, the CFPB followed up its Issue Spotlight with a Consumer Advisory warning about the risks of in-game currency and methods used to encourage gamers… Continue reading Pay to Play? CFPB Warns Consumers about Risks of Video Game Currency and In-Game Purchases

Eric L. Johnson, Justin B. Hosie and Kristen Yarows In this month’s article, we share some of our top “bites” for the prior and current month covered during the September 2024 webinar. Bite 10: CFPB Publishes Report on Cash-Back Fees On August 27, 2024, the CFPB issued a report indicating that large retail store chains charge cash-back fees to customers… Continue reading CFPB Bites of the Month – September 2024 – Wake Me Up When September Ends, CFPB

Mark E. Rooney and Mark D. Metrey HIGHLIGHTS: CASE SUMMARY: On October 15, 2024, the CFPB and DOJ filed a complaint and proposed consent order against the Company, alleging violations of the Fair Housing Act (FHA), Equal Credit Opportunity Act (ECOA) and its implementing Regulation B, and the Consumer Financial Protection Act (CFPA), with regard to its… Continue reading Hudson Cook Enforcement Alert: CFPB and DOJ “Combating Redlining Initiative” Finds National Mortgage Company in the Crosshairs for Alleged Lending Discrimination

Michael A. Goodman and Gabriela Chambi HIGHLIGHTS: CASE SUMMARY: On October 10, 2024, the CFPB announced that it issued a stipulation and consent order against the Company to resolve allegations that the Company violated the CFPA. The consent order alleges that the Company, since April 2022, had commenced arbitrations against consumers who were allegedly required to agree… Continue reading Hudson Cook Enforcement Alert: CFPB Issues Order Against a Private Dispute Resolution Platform

FOR IMMEDIATE RELEASE Hudson Cook, LLP proudly announces that seven of its attorneys have been recognized in the 2025 edition of The Best Lawyers in America®, a testament to their professional excellence and peer recognition in the legal field. “For more than 40 years, Best Lawyers® has set the standard for reliability and integrity in our legal… Continue reading Seven Hudson Cook, LLP Lawyers Named Best Lawyers® in America for 2025

Jay Harris and Mark D. Metrey The Federal Trade Commission (FTC) announced a groundbreaking settlement with Invitation Homes, a large single-family rental home owner/operator, on September 24. The settlement, which includes a $48 million monetary judgment and substantial injunctive relief, introduces novel applications of Section 5 of the FTC Act (15 U.S.C. § 45) in excess of… Continue reading FTC’s Invitation Homes Settlement: Federal Consumer Protection Laws In Rental Property Management

Erik Kosa and Kristen Yarows HIGHLIGHTS: CASE SUMMARY: On September 13, 2024, the CFPB filed a lawsuit against the company and its owner and CEO, alleging deceptive and abusive acts and practices in violation of the CFPA and violations of TILA and its implementing regulation. The lawsuit alleges that the company and its CEO deceived customers into… Continue reading Hudson Cook Enforcement Alert: CFPB Sues Credit Card Issuer and its Owner and CEO for Alleged Deceptive Marketing and Improper Fees

Robert D. Tilley and Mark D. Metrey HIGHLIGHTS: CASE SUMMARY: On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher Rule under Regulation V, with regard to both credit card and deposit accounts. The… Continue reading Hudson Cook Enforcement Alert: National Bank Reaches Settlement with the CFPB  for Alleged Credit Reporting Violations

Julia K. Whitelock and Taylor A. Krowitz HIGHLIGHTS: CASE SUMMARY: After more than seven years of litigation, on September 12, 2024, the CFPB filed the Stipulated Order reflecting its settlement with the Company over alleged violations of the CFPA, FCRA, and FDCPA. The Company is a nonbank financial company that services student loans made under the William… Continue reading Hudson Cook Enforcement Alert: Nonbank Student Loan Servicer Agrees to a CFPB-Imposed Ban and to Pay $120 Million

Eric D. Mulligan California’s Senate Bill 1286 is under consideration in the Legislature. The bill, if passed, would expand the scope of the Rosenthal Fair Debt Collection Practices Act to cover the collection of certain commercial-purpose debts. The RFDCPA as it exists now covers only the collection of consumer-purpose debts. Unlike the federal Fair Debt… Continue reading Bill Under Consideration in California Would Apply Collections Law to Commercial Financing Providers