On September 8, 2025, the Attorney General of the District of Columbia sued one of the country’s largest operators of Bitcoin Automated Teller Machines (BTMs) alleging that the company’s BTMs charged undisclosed fees and relied heavily on scams and fraud. The Attorney General accused the company of failing to implement adequate…
On April 14, New York Attorney General Letitia James filed lawsuits against two earned-wage access service companies. Attorney General James accused the companies, which allow consumers to obtain small-dollar advances on upcoming paychecks for a fee, of offering illegal payday loans that violate New York’s usury laws. These lawsuits come…
The New York Attorney General entered into two related Consent Order and Judgments on January 16, 2025, the first with a financial company offering short-term loans to small businesses and the second with several of the company’s officers. The Consent Orders combine for an aggregate settlement amount in excess of $1 billion,…
On January 23, 2025, the New York Department of Financial Services announced that it had entered into a Consent Order with a Peer-to-Peer Payment Processor for alleged violations of New York’s Cybersecurity Regulation. This regulation requires all financial and banking entities operating in New York to establish and maintain adequate cybersecurity controls and protections…
On November 19, 2024, the District of Columbia’s Attorney General (DC AG) announced that it had filed a complaint in the Superior Court of the District of Columbia against an online lender for alleged violations of the District of Columbia Consumer Protection Procedures Act (CPPA). According to the DC AG’s complaint, the company, which operates both a website and…
On October 23, 2024, the CFPB announced that it had entered into separate consent orders with a large tech company and a bank over a joint credit card venture. The CFPB alleges that the credit card, which combined the tech company’s software with the credit-backing of the bank, was launched prematurely, which…
On September 13, 2024. the CFPB brought suit in the Western District of Pennsylvania against the nonbank offeror of a consumer credit card and its CEO alleging that the terms of the company’s credit card violated the Consumer Financial Protection Act, the Truth In Lending Act, and Regulation Z. According to the…
On July 10, 2024, the California Department of Financial Protection and Innovation (DFPI) issued an order revoking the California Financing Law license of a company that had offered both individual and business loans in the state, following that company’s alleged failure to provide information during the DFPI’s attempt to conduct a regulatory examination….
On July 9, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it filed a proposed stipulated final judgment and order in its suit against a national bank accused of allegedly opening unauthorized accounts on behalf of consumers. The proposed judgment would resolve allegations that the bank opened unauthorized accounts in the names of its customers. As…
On July 9, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a national bank, resolving allegations related to the bank’s auto lending practices. The consent order related to auto lending practices resolves allegations that the bank’s practices related to force-placed insurance policies violated the Consumer Financial Protection Act of 2010 (CFPA), 12…
On April 17, 2024, the New York State Attorney General (NY AG) announced that it entered into an Assurance of Discontinuance (AOD) with a national bank, resolving allegations related to the bank’s debt collection practices. The bank is a nationally chartered bank that issues debit cards, prepaid cards, payroll cards, and gift cards, primarily through third-party servicers, many of whom…
On April 17, 2024, the Consumer Finance Protection Bureau (CFPB) announced that it had entered into a consent order with BloomTech Inc., d/b/a Bloom Institute of Technology (BloomTech), and BloomTech’s CEO, Austen Allred, resolving allegations that the company’s practices with respect to income-share agreements (ISAs) violated various consumer protection statutes. BloomTech, formerly known…
On February 27, 2024, the California Department of Financial Protection and Innovation (DFPI) announced that it entered into a consent order with a San Francisco-based financial services company resolving allegations that the company’s handling of consumer complaints violated California’s Consumer Financial Protection Law (CCFPL). The company, which partners with regional banks to provide mobile…
On January 9, 2024, the California Department of Financial Protection and Innovation (DFPI) announced that it entered into a consent order with an internet-based financial services company that allows online merchants to offer payment in installments to its customers. The DFPI alleged that the company violated the California Consumer Financial Protection Law (CCFPL) by failing to disclose…