On February 7, CFPB General Counsel Seth Frotman gave a talk at the University of Michigan, The Federal General Counsel, Law, and Our Democracy at a Crossroads. The entire speech is worth a read, but I want to quote one part that describes Frotman’s view of what the CFPB should do and provides a test […]
In some recent postings, I’ve focused on what the Trump administration will do on consumer protection, but I don’t want to lose sight of what the people who served in the CFPB, FTC, and a variety of other agencies did during the last four years to protect consumers. Consumers are much better off for their […]
The headline reads Trump team eyes hiring freeze, regulatory rollbacks for CFPB (behind paywall but available on Lexis). According to Berry, a Trump review team is now at the Bureau, with a transition team coming next week. George Mason’s Todd Zywicki is part of the review team. Berry identifies as possible directors FDIC vice chair […]
Over the past two weeks, the Department of Transportation has taken actions against several airlines for what the Department refers to as “chronically delayed flights,” suggesting violations of consumer protections. According to DOT, the airlines are effectively misleading customers as to the actual times of the flights, because these flights so infrequently depart at those […]
ProPublica reports that online lenders tied to Native American tribes claim that they aren’t subject to state lending laws, but then have backed away from operating in six states where attorneys have acted forcefully to protect consumers. The story is here.
Here. The introduction states: “We believe that the interpretations set forth in these documents reflect the best reading of the federal consumer financial laws and that the reasoning provided therein will therefore prove to be durable.” I hope that the guidance does indeed prove to be durable.
Under Missouri law, lienholders must release their liens within 5 days after payment in full of any moneys owed. According to the plaintiff in a putative class action, Santander Consumer violates this law by waiting fifteen days to send the title after a borrower pays off a car loan. After Santander removed the case, a […]
State and federal courts have concurrent jurisdiction over claims brought under the Fair and Accurate Credit Transactions Act (FACTA). But apart from the merits of a FACTA claim, state and federal courts have different requirements for standing. So when a defendant removes a FACTA action from state to federal court, but the claim does not […]
The Consumer Financial Protection Bureau today announced its final rule requiring the removal of medical bills from credit reports and barring lenders from using consumers’ medical information in their lending decisions. The Fair Credit Reporting Act already limits a creditor’s ability to obtain or use a consumer’s medical information in connection with any determination of […]
If so, you might want to listen to Alan Kaplinsky’s fireside chat podcast with former CFPB official David Silberman, sign up for two forthcoming Ballard Spahr webinars, or for McGuireWoods’s upcoming webinar.