Jon Sheldon at the National Consumer Law Center discusses "Shortening the Limitations Period on Credit Card Collection Lawsuits": With the growth of the debt buying industry, the statute of limitations has become a particularly important defense in credit card collection lawsuits. Not only do debt buyers purchase credit card debt six months or more after […]
Author Archives: Allison Zieve
The Regulatory Review has a short piece on Betsy Devos's effort to roll back protections for student loan borrowers put in place under the Obama Administration, focusing on the borrower-defense rule. The post is here.
Mobile peer-to-peer payment services used on smartphones and tablets make it easy to transfer money between friends. Consumer Reports tested five mobile P2P services — Venmo, Square's Cash App, Facebook P2P Payments in Messenger, and Zelle — to see how they stacked up for protecting data-privacy and security. The article is here.
Senator Elizabeth Warren answers policy questions about the economy, free markets, and regulation for the Washington Post, here.
The Department of Education today proposed a new Borrower Defense Rule that would abandon important protections designed to stop for-profit colleges from forcing students to give up their right to take schools to court for wrongdoing by forcing them to arbitrate any claims. Forced arbitration provisions, together with bans on the right of students to […]
Washington Post columnist Catherine Rampell ponders the Trump Administration's choice of someone with "zero experience in the complicated world of financial regulation or consumer protection" to head the Consumer Financial Protection Bureau. Considering consumer protection more broadly, she writes: It’s bizarre. Whenever they get the chance, Republican officials seem intent on bleeding consumers dry. Or […]
The Hill reports that the Mick Mulvaney has chosen Brian Johnson to be the Consumer Financial Protection Bureau's acting deputy director. Johnson had previously served as the CFPB’s principal policy director. He had been hired by Mulvaney last year to rein in and rebrand the controversial regulator. The full article is here.
The Washington Post recently reported on a phenomenon I had not previously been aware of: mass-mailing checks to strangers, that when cashed become high-interest loans. As a trainee at one firm described it, "basically a way of monetizing poor people." The article is here.
The Regulatory Review has this article.
Mick Mulvaney, at the Consumer Financial Protection Bureau, cut in half a fine that his Obama-era predecessor sought against a payday lender and dropped some of the agency’s earlier claims in the case, three people familiar the matter told Reuters. Reuter's article is here.