Search Results: Banking

DOJ and OCC Obtain $5.5 Million Settlement, Resolving Allegations of Lending Discrimination

On August 30, 2021, the Department of Justice (DOJ) announced that, together with Office of the Comptroller of the Currency (OCC), it reached a settlement with a bank, resolving allegations that the bank engaged in lender discrimination in the Houston, Texas area. In 2017, the OCC initiated a fair lending examination…

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FTC Settles with California-Based Mobile Banking App Over Interest Rates and Access to Funds


On March 29, 2021, the Federal Trade Commission (FTC) announced that it had reached a settlement ​with a California-based mobile banking app, resolving allegations that the company had misled consumers about their ability to access their funds and the interest rates they would receive on their accounts. As we reported ​in November of last year, the FTC alleged…

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Alli Schoenthal Joins as New York Head of Consumer Financial Services Litigation + Enforcement

Enforcement Watch and Goodwin’s Consumer Financial Services Enforcement Team are excited to announce the arrival of Alli Schoenthal to our team! Alli will reside in our New York office.  Alli represents banks, trusts, lenders, government-sponsored enterprises, private equity firms, and loan servicers in consumer finance litigation and enforcement matters.  Her practice…

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FTC Files Complaint Against California-Based Mobile Banking App

​On November 18, 2020, the Federal Trade Commission (FTC) announced​ ​that it had filed a complaint ​against a California-based mobile banking app and its founder and CEO for allegedly falsely misrepresenting to users that they would receive high interests rates on their banking accounts and that they would have constant access to their funds. According to the complaint,…

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Pennsylvania AG Halts Bank’s Allegedly Aggressive Auto Loan Debt Collection Practices

On August 19, 2020, the Pennsylvania Office of the Attorney General announced that it had entered into a voluntary compliance agreement with a regional bank to stop allegedly aggressive auto loan debt collection practices. The agreement arose out of allegations made by the Pennsylvania AG that the bank engaged in unfair and manipulative practices,…

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CFPB Files Suit Against National Bank Concerning Alleged Unauthorized Accounts

CFPB sign

On March 9, 2020, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against a national bank in the U.S. District Court for the Northern District of Illinois alleging that the bank opened unauthorized accounts and enrolled customers in unauthorized products and services without consumers’ knowledge or consent.  According to the CFPB’s complaint, the…

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