Legal and Regulatory Developments
FTC Settlements with Lead Generators Offer Roadmap for Consumer Consent and Telemarketing Pitfalls to Avoid
Marketers and lead generators have new guidance in the form of enforcement orders on what the Federal Trade Commission (FTC) appears to consider required practice when obtaining consumer consent prior to the sale, transfer, or disclosure of consumer information that will be used in marketing.
Current Issues in Receivables Management
Jonathan Pompan, partner and chair of Venable's Consumer Financial Services Practice Group, presented on current legal and regulatory issues in the receivables management sector at the 2023 RMAI Executive Summit. During the panel, industry attorneys and thought leaders addressed key topics such as the Supreme Court's consideration of cases on the CFPB's constitutionality and the Chevron deference framework (when courts defer to federal agency interpretation of statutes).
From Clear and Conspicuous to Unavoidable? The FTC’s Updated Endorsement and Testimonial Guides
Watch a recording of our recent webinar highlighting the key changes and revisions to the Federal Trade Commission's Endorsements and Testimonial Guides and a discussion of the Commission's new proposed trade regulation: "Rule on the Use of Consumer Reviews and Testimonials." Find out what your company can do to avoid being caught in the FTC's crosshairs before it's too late, because increased scrutiny is no longer on the horizon—it has arrived.
Civil Investigations Demands – What You Should Know
The Civil Investigative Demand or CID is just one tool at the CFPB's disposal. Responding to a CID can be a difficult process. At OLA's 2023 Compliance University, David McGee discussed the elements of a CID including the important questions to consider when making the decision to challenge or negotiate the terms, and most importantly, what potentially lies ahead after complying with a CID.
Insights and Strategies For Payments in Today's Economy
In this session at OLA's 2023 Compliance University, Len Gordon and other panelists provided key takeaways on the current trends impacting payments, including what resources are available through banks, card networks and NACHA to assist companies. The panelists also provided an overview of what lies ahead on the regulatory landscape.
Lead Generators' Due Diligence – Up One Stream and Down the Other
Over the last several years, advertisers have had an increasing focus on the quality and transparency of lead generation advertising. This session at OLA's 2023 Compliance University explored due diligence strategies for all parties involved including upstream for publishers and affiliates including any other sources of leads as well as downstream due diligence for those purchasing leads including lenders, networks, and other buyers. Panelists focused on best practices for putting the right compliance protocols in place.
Medical Payment Products Face Government Scrutiny
Multiple government agencies are scrutinizing medical payment products. On July 7, 2023, the Consumer Financial Protection Bureau (CFPB), U.S. Department of Health and Human Services (HHS), and U.S. Department of Treasury issued a request for information (RFI) into high-cost specialty financial products, such as medical credit cards and installment loans. The government is concerned that these products are pushed on patients as a way to pay for routine medical care and that they drive up healthcare costs and medical debt. The RFI is open for public comment until September 11, 2023.
Supreme Court Case Watch: Securities and Exchange Commission v. Jarkesy and Its Impact on Independent Agencies
With the end of the Supreme Court's term in June, most eyes have been on the release of the last remaining merits decisions. In the midst of issuing the final opinions of the term, the Court also granted certiorari on a number of cases, one of which—Securities and Exchange Commission v. Jarkesy—might have implications for the Federal Trade Commission and the Consumer Financial Protection Bureau.