June 7

Recent Compliance Issues: 5/15/15 – 5/28/15

1. On Tuesday, May 19, PayPal announced that it has agreed to a $25 million settlement with the Consumer Financial Protection Bureau (CFPB) for allegations that it essentially forced consumers to use its on-line credit product. The CFPB characterized PayPal’s practices as deceptive and abusive, the first such settlement under the “abusive” prong of the.