In the American Banker. The oral argument will take place on April 9 before Judge Pillard, an Obama appointee and two Trump appointees: Judges Katsas and Rao.
Some remarkable statements in the opinion (this is all I have time for now):. Judge Jackson wrote of the CFPB’s employee testifying for the agency: “He had the demeanor of an abused wife brought to court by her husband to drop the charges.” “The testimony and the contemporaneous documents suggest that those last minute communications […]
So reports Law360s’s Bryan Koenig. The complaint alleges violations of the FTC Act, Administrative Procedure Act, among other theories, and seeks mandamus and an injunction.
DOJ has announced the launch of an “Anticompetitive Regulations Task Force to advocate for the elimination of anticompetitive state and federal laws and regulations that undermine free market competition and harm consumers, workers, and businesses,” lead by the DOJ Antitrust Division. The task force is asking members of the public to submit comments as to […]
In light of the Trump litigation, that’s a hot, nerdy topic. Read “Appealing Temporary Restraining Orders” by Tyler Lindley, Wesley White, and Morgan Bronson of BYU Law School. Here’s the abstract: Temporary restraining orders (TROs) are a powerful injunctive tool for district courts to maintain control over a case by directly controlling the parties’ out-of-court […]
U.S. senators are on their way to approve of big banks burdening constituents with excessive overdraft fees. The Consumer Financial Protection Bureau recently issued a rule to limit overdraft fees charged by the largest banks to $5. But in a late-night move yesterday, the Senate voted to advance a Congressional Review Act resolution that would […]
Here. Oral openers by the industry witnesses call for the CFPB to become a bipartisan commission without noting that Trump has fired the Democratic FTC commissioners, so that bipartisan really means one party. Meanwhile, former CFPB General Counsel Seth Frotman’s oral opening statement was terrific. His written testimony is here. Here’s an excerpt (footnotes omitted): […]
In 2022, in Ewing v. Med-1 Solutions, LLC, the Seventh Circuit held that a consumer is harmed by a credit report’s failure to note that a given debt is dispute–finding that it impacted the consumer’s creditworthiness and impacted their reputation, and thus that a consumer has standing to pursue a claim based on a debt […]
Stephen Calkins of Wayne State writes: The FTC is down to two commissioners. Both of them recused themselves for unstated reasons when the agency filed an administrative complaint, In re Caremark Rx, Dkt. 9437. THERE IS CURRENTLY PENDING BEFORE THE COMMISSION –NOT THE ALJ – A MOTION TO POSTPONE THE TRIAL DATE (currently the end […]
Stephen Calkins of Wayne State, who formerly served as FTC General Counsel, has pointed out that when the FTC has only two commissioners, two is a quorum for FTC action under the regs: 4.14 Conduct of business. (a) Matters before the Commission for consideration may be resolved either at a meeting under § […]