The staff of the Federal Trade Commission has provided its 2018 Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on its enforcement and related activities regarding Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act), and Regulation E (Electronic Fund Transfer Act). The report on TILA, CLA, and EFTA highlights, among […]
Tag Archives: Bureau of Consumer Protection Consumer Protection Credit and Finance
FTC Amends Complaint against Lending Club
The Federal Trade Commission has amended its complaint against LendingClub Corporation, an online lending company that the Commission alleges deceived consumers by falsely promising them loans with no hidden fees. According to the FTC’s original complaint, filed in April 2018, Lending Club falsely promises consumers that they will receive a specific loan amount with “no hidden […]
FTC Staff Provides Annual Financial Acts Enforcement Report to Consumer Financial Protection Bureau
The staff of the Federal Trade Commission has provided its 2016 Annual Financial Acts Enforcement Report to the Consumer Financial Protection Bureau on enforcement and related activities regarding Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act), and Regulation E (Electronic Fund Transfer Act). The report on TILA, CLA, and EFTA addresses, among […]
FTC Staff Provides Annual Report to CFPB on Equal Credit Opportunity Act Activities
The staff of the Federal Trade Commission have provided an annual report to the Consumer Financial Protection Bureau on the FTC’s activities related to the enforcement of the Equal Credit Opportunity Act, or ECOA. The FTC is responsible for ECOA enforcement and education related to most non-bank financial service providers. In the letter to the […]
TeleCheck to Pay $3.5 Million for Fair Credit Reporting Act Violations
TeleCheck Services, Inc., one of the nation’s largest check authorization service companies, along with its associated debt-collection entity, TRS Recovery Services, Inc., have agreed to pay $3.5 million to settle Federal Trade Commission charges that they violated the Fair Credit Reporting Act (FCRA). The penalty matches the second-largest ever obtained by the FTC in an […]