Tag Archives: FTC Act

Supreme Court Ruling Complicates FTC’s Ability to Obtain Consumer Redress

On April 22, the Supreme Court unanimously ruled in AMG Capital Management v. Federal Trade Commission that § 13(b) of the Federal Trade Commission (“FTC”) Act does not authorize the FTC to obtain equitable monetary relief, such as restitution for consumer harm.  This development will make it more complicated for the FTC to obtain consumer … Continue Reading

FDIC Releases First Edition of Consumer Compliance Supervisory Highlights

On June 13, 2019, the FDIC released its first edition of Consumer Compliance Supervisory Highlights, the purpose of which is to increase transparency regarding the FDIC’s consumer compliance supervisory activities. The publication provides a high-level overview of the consumer compliance issues identified through approximately 1,200 consumer compliance examinations conducted in 2018 for non-member state-chartered banks … Continue Reading

FDIC Settles Unfair and Deceptive Practices Investigation with Bank and Institution-Affiliated Parties

On May 11, 2017, the Federal Deposit Insurance Corporation (“FDIC”) announced settlements with Bank of Lake Mills and two of its institution-affiliated parties, Freedom Stores, Inc. and Military Credit Services, LLC.  The settlements require the companies to pay restitution totaling $3 million to past and present borrowers who were harmed, impose civil monetary penalties totaling … Continue Reading
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