FTC Submits Annual Report on TILA, CLA, and EFTA Enforcement

On June 8, 2023, the FTC submitted its annual enforcement report to the CFPB on its enforcement efforts and related activities in 2022 on the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA). The report highlights the FTC’s enforcement actions related to the acts and their implementing regulations, including in the areas of automobile purchases and financing, payday lending, credit repair and debt relief, other credit, and electronic fund transfers.

Other key highlights of the report include the following:

  • Rulemakings are currently under way, including a proposed rule to ban junk fees and bait-and-switch advertising tactics, as well as an advance notice of proposed rulemaking exploring a rule to crack down on junk fees proliferating throughout the economy;

  • The report notes the 2022 FTC staff report on dark patterns;

  • The agency’s Military Task Force, which comprises a cross-section of FTC representatives and focuses on various initiatives to assist military consumers, continued work on military consumer protection issues; and

  • The report outlines the FTC’s consumer and business education efforts on truth in lending and electronic fund transfer issues.

Read the FTC’s press release here.

The annual report can be found here.

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