U.S. property management company Greystar swindled renters across the country out of hundreds of millions using deceptive advertising and hidden fees, according to a lawsuit filed Thursday by the U.S. Federal Trade Commission and Colorado.
The proposal is being coupled with the CFPB announcing that it will block large banks from charging “junk fees” to provide basic customer services.
Uncle Sam’s chief financial watchdog agency has fired a warning shot across the bow of consumer-facing comparison sites and mobile apps that steer consumers to the lenders that pay the sites the most.
If adopted, the FTC’s new cybersecurity standards would cause significant disruption to entities subject to the its jurisdiction, just as the New York requirements disrupted entities operating in that state.
