FTC

Banking and mortgage groups are asking the Federal Communications Commission to issue new Telephone Consumer Protection Act rules that would make consumer lawsuits over robocalls harder to win.

The Federal Trade Commission alleges in a lawsuit that the company's "no-hidden-fee" pledge is deceptive. LendingClub says the claims are unwarranted.

The Consumer Bankers Association on Wednesday asked lawmakers to rein in regulations that were meant to prevent robocalls but that the group says have inadvertently captured legitimate calls.

In the joint report with the Federal Trade Commission on debt collection practices, the CFPB said it had initiated four enforcement actions last year, had resolved one case and has five others pending.

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.

The Federal Trade Commission contends Venmo misled consumers on funds availability and security disclosures.

The two senators are set to introduce a bill that would force such firms to pay $100 per customer whose personal information was compromised.

The regulator said that the Bank of Lake Mills, Freedom Stores and Military Credit Services violated the FTC Act.

The Federal Trade Commission is looking at whether auto finance companies that use sophisticated technology like ignition kill switches are illegally harassing subprime borrowers that have fallen behind on their payments.