Payment Systems Webinar Series: Enforcement Update Webinar Recording
Payment Systems Webinar Series
Since Kathleen Kraninger became the second director of the CFPB in early December, a flurry of public enforcement actions have been announced by the Bureau. These cases have involved various types of companies, including an offshore payday lender, a jewelry retailer, a federally chartered savings bank, and an individual broker of contracts offering high interest credit to veterans. The CFPB has also addressed a broad range of conduct through its enforcement authority, including unauthorized account openings, unauthorized charges, misrepresentations, and the collection of debts not legally owed. A common theme across all of these cases has been the bureau’s reliance on its UDAAP authority. This webinar will provide an update on the CFPB’s recent enforcement activity, and will highlight important takeaways and lessons that can be gleaned from the last few months’ worth of activity.