A new report from the The People’s Parity Project examines the backgrounds of judges on state “business courts.” Sixty-three percent of Americans live in a state with a business court. Although business courts are intended to hear cases between businesses, a significant number of states hear cases that include workers and consumers, typically relating to […]
Author Archives: Allison Zieve
In an opinion issued yesterday in Cantero v. Bank of America, the Second Circuit held that New York’s law requiring 2% interest payments on mortgage escrow accounts is preempted under the National Bank Act, because it “significantly interferes” with federal law, which allows federally chartered national banks to offer mortgage-escrow accounts without requiring them to […]
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.
Read “The Tribal Lending Industry Offers Quick Cash Online at Outrageous Interest Rates. Here’s How It’s Survived,” from ProPublica this week.
The FTC reports: “Grubhub will pay $25 million to settle charges from the Federal Trade Commission and the Illinois Attorney General that the food delivery firm engaged in an array of unlawful practices including deceiving diners about delivery costs and blocking their access to their accounts and funds, deceiving workers about how much money they […]
As Christine reported, the Consumer Financial Protection Bureau issued a rule just yesterday to cap overdraft fees. Already, a group of banking associations have challenged it. The complaint, filed in Mississippi, is available here.
The Consumer Financial Protection Bureau has released a report examining federal and state-level privacy protections for consumers’ financial data. The report notes that protections under federal regulations for financial data have limits. Yet, many new state data privacy protections exempt financial institutions and consumer financial data covered by federal law, even though states generally have […]
The Consumer Financial Protection Bureau issued results from its Student Loan Borrower Survey, providing insights into the effects of student loan debt relief programs and the challenges borrowers face in navigating repayment options. The survey, conducted between October 2023 and January 2024, gathered data from a representative sample of student loan borrowers as the federal […]
The Federal Trade Commission took action against Credit Karma in 2022, alleging that the company told consumers they were “pre-approved” and had “90% odds” of approval to entice them to apply for credit card offers that, in many instances, they ultimately did not qualify for. Credit Karma later agreed to to stop making these types […]
Today, the Consumer Financial Protection Bureau and the Centers for Medicare & Medicaid Services issued a joint statement concerning unlawful medical bills charged to people with Medicare living at or below the poverty line — about one in eight Medicare recipients nationwide. Federal law generally prohibits healthcare providers who accept Medicare from billing them for […]