In a letter responding to an inquiry from Senator Warren, the director of the Consumer Financial Protection Bureau says that the Education Department is hampering the CFPB's efforts to protect borrowers by performing oversight of the student loan industry. The Senators' letter has asked whether the federal regulator had "abandoned its supervision and enforcement activities" […]
Author Archives: Allison Zieve
On Friday, Connecticut and a coalition of 44 states sued the biggest generic drug manufacturers, accusing them of a systematic conspiracy to bilk consumers out of billions of dollars. Last night's 60 Minutes covered the story, here. The Connecticut Attorney General's press release is here.
The Center for American Progress today released a report discussing structural reforms to the court system and suggesting reforms to restore access to the courts — two topics that are discussed separately in the report but are surely related. The reforms suggested to restore individuals' access to the civil justice are not new ideas but […]
The Consumer Financial Protection Bureau is proposing a new rule that would allow debt collectors to send consumers an unlimited number of texts and emails. The agency says that its rule would be good for consumers. The Washington Post reports, however, that consumer advocates worry the CFPB is giving the industry a new way to […]
This morning, in a unanimous opinion in a case is called CFPB v. Seila Law, Inc., the Ninth Circuit decided a challenge to the CFPB's structure. The CFPB is headed by a single Director who exercises substantial executive power but can be removed by the President only for cause. Relying on the Supreme Court’s separation-of-powers […]
ProPublica and WNYC are investigating whether the Consumer Financial Protection Agency is enforcing federal consumer financial laws and holding companies accountable. They want to hear from people who work at the agency and those who have left recently, particularly people who are familiar with enforcement actions, supervisory exams, and proposed rules like those governing payday […]
Section 6(b) of the Consumer Product Safety Act generally requires the Consumer Product Safety Commission to get permission from a manufacturer before releasing to the public any information about a defective product that would reveal the identity of the manufacturer. Even when the CPSC announces an alert or recall, companies often can restrict the information […]
Vox explains how consumer product recalls work and the need for improvements in the recall system in an article titled "People buy millions of unsafe products every year. Here’s why recalls are harder than they should be," here.
The Second Circuit today decided a case involving payday lending and forced arbitration, ruling for the plaintiffs on two important issues. In Gingras v. Think Finance, Vermont residents who claim that the payday loans violate Vermont usury and consumer protection laws as well as federal laws including the RICO statute sued the operators of an […]
The New York Times today has a lengthy piece about treatment of female employees at Sterling, Kay, and Jared Jewelers — stores owned by the same company. The heart of the article is about pay inequity, and pervasive and extreme sexual harassment. But the article also describes the role of the forced arbitration and non-disclosure […]