Consumer Financial Services

On March 27, 2025, the Federal Trade Commission (FTC) filed a lawsuit and proposed settlement order resolving claims against Cleo AI, a fintech that operates a personal finance mobile banking application through which it offers consumers instant or same-day cash advances. The FTC alleges that Cleo deceived consumers about how much money they could get and how fast that money could be available, and that Cleo made it difficult for consumers to cancel its subscription service.
Continue Reading FTC Alleges Fintech Cleo AI Deceived Consumers

To get ahead of potential staffing and priority changes under the new administration, on Jan. 14, 2025, the Consumer Financial Protection Bureau (CFPB) issued guidance to state attorneys general and…

Continue Reading CFPB Guidance and State Consumer Protection: 2025 Considerations

In October 2024, the California DFPI finalized regulations for providers of income-based advances (Earned Wage Access or EWA), clarifying registration requirements under the California Consumer Financial Protection Law (CCFPL). These…

Continue Reading California DFPI Finalizes New Earned Wage Access Regulations

On Nov. 21, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule), pursuant to 12 U.S.C. § 5514(a)(1)(B), to establish supervisory authority over nonbank entities identified as…

Continue Reading CFPB’s Final Rule Enhancing Oversight of Large Digital Payment App Providers Goes into Effect Jan. 9 – Are You Ready?

On Nov. 12, 2024, the Consumer Financial Protection Bureau (CFPB) released a report examining federal and state privacy protections for consumers’ financial data. In the report, the CFPB “critiques” the…

Continue Reading CFPB Urges States to Fill Gaps in Federal Financial Privacy Statutes

On Oct. 18, 2024, fintech trade group Financial Technology Association (FTA) filed a lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) final interpretative rule on “Buy Now, Pay Later” (BNPL)…

Continue Reading Lawsuit Challenges CFPB’s ‘Buy Now, Pay Later’ Rule

On June 17, 2024, the FTC filed a federal court complaint against Adobe and two of its executives. The complaint alleges that Adobe deceived consumers by failing to adequately disclose…

Continue Reading FTC Targets Adobe for Hidden Fees and Deceptive Subscription Practices
  • The Federal Trade Commission (FTC)’s 2023 annual report highlights significant enforcement actions and educational efforts, focusing on consumer protection under the Truth in Lending Act (TILA), Consumer Leasing
… Continue Reading FTC 2023 Enforcement Highlights: A Closer Look at Auto Financing, Electronic Fund Transfers, and Consumer Leasing

On June 4, 2024, the CFPB released a circular cautioning companies against including unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. The circular asserts…

Continue Reading CFPB Warns Against Deceptive Fine-Print Tactics Targeting Consumers