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CFPB cashes in for the consumer: Capital One required to pay $140 million in consumer refunds

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • July 18 2012

Today, the Consumer Financial Protection Bureau (“CFPB”) engaged in its first major enforcement action by requiring Capital One to refund 2 million consumers approximately $140 million for profits gained from deceptive marketing practices related to its credit card protection services

The Consumer Financial Protection Bureau is challenged as unconstitutional

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • July 1 2012

This past Thursday, June 21, 2012, the State National Bank of Big Spring (“National Bank’”), the Competitive Enterprise Institute (“CEI”), and the 60 Plus Association, Inc. (“the Association”), filed suit against the Consumer Financial Protection Bureau (“CFPB”), the U.S. Department of the Treasury and various financial officials, including Richard Cordray, Director of the CFPB, in their official capacities

Consumer protection agency launches public site tracking credit card complaints

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • June 20 2012

Yesterday, June 19, 2012, the Consumer Financial Protection Bureau (“CFPB”) launched the first public database of complaints against credit card companies

CFPB issues final rules (part 3 of 4): investigative procedures & CIDs

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • June 18 2012

On June 6, 2012 the Consumer Financial Protection Bureau (the “Bureau”) issued a final rule providing more on their investigative procedures

CFPB issues final rules (Part 4 of 4): compliance with the equal access to Justice Act

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • June 18 2012

On Wednesday June 6, 2012, the Consumer Financial Protection Bureau (“the Bureau”) also issued an interim rule with request for public comment, on the rules drafted to bring the Bureau into compliance with the Equal Access to Justice Act (“EAJA”