On November 22, the CFPB denied a crypto lending institution’s petition for an order modifying a pending civil investigative demand (“CID”) that the Bureau issued to the institution in December of 2021. The CFPB issued the CID as part of an investigation into the institution’s advertisement of certain product offerings, including lines of credit and its “Earn Interest Product” (“EIP”).
Silvergate is liable for its role in “furthering FTX’s investment fraud” and breaches of fiduciary duty, alleges a new class action suit.
Los Angeles County District Attorney George Gascón announced today that Capital One, N.A., will pay $2 million to settle a civil lawsuit alleging the company made unreasonably excessive calls to collect past due accounts.
In October 2021, the CFPB penalized the prison financial services company JPay for violating the Consumer Financial Protection Act (CFPA) by charging consumers fees to access their own money on prepaid debit cards that consumers were forced to use.
The Federal Reserve raised its target federal funds rate by 0.5 percentage points at the end of its two-day meeting Wednesday in a continued effort to cool inflation.
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