Links in “UDAP (Regulation AA)”

OCC assessed its own $25 million penalty against Bank of America and its credit card subsidiary FIA Card Services along with $459.5 million in restitution for the 1.9 million consumer accounts for unfair and deceptive acts or practices violations associated with the bank's practices for add-on products related to identity theft protection. [4/10]

When it comes to unfair or deceptive acts, payday lenders that claim ties to Native American tribes are not beyond the reach of the Federal Trade Commission, a U.S. District Court judge rules. [3/20]

Report highlights key problems in mortgage servicing industry including unfair practices with servicing transfers associated with modifications, improperly waiving consumer rights, poor payment processing and failing to provide correct information to consumer reporting agencies. [1/31]

Senator Edward Markey (D., Mass) urges FTC to take a more active role in policing auto dealers who use unfair or deceptive financing practices. [10/29]

$3.6-billion Community Trust Bancorp discloses the Fed Reserve is preparing to fine it for unfair and deceptive methods of assessing overdraft fees. [10/14]

Banks in Chicago region report that examiners have been spending inordinate amount of time on Reg. E, resulting in civil money penalties for a variety of activities considered "unfair and deceptive." [9/5]

Nationwide debt-settlement company charged with deception and illegal fees. "No Upfront Fees" and "Debt free in Months" turn out to be far from reality. [8/21]

CFPB expresses "significant concern" with potentially deceptive claims made in communications with consumers concerning the effect of paying debts in collection on credit reports, credit scores, and creditworthiness. [7/25]

Interesting angle on deception in advertising. Application to FIs merits consideration. [6/25]