Here. Excerpt: The American Bar Association is “outraged” that the Trump administration is calling to eliminate funding for the LSC and is calling upon members of Congress to restore it, ABA President Linda Klein said in a statement Thursday. Klein noted that LSC offices are in every congressional district and help 1.9 million people […]
Author Archives: Jeff Sovern
Here. The essay reviews Judge Gorsuch's arbitration decisions. Here's an excerpt: Senators must press Judge Gorsuch on arbitration during his hearing next week. If he does believe that limits on the FAA’s “heavy hand” exist [as Judge Gorsuch indicated in an opinion], he should be willing to define and describe them. Otherwise, more and more […]
Here. Excerpt: A government brief in opposition to the CFPB [in the PHH case] likely would have significant weight at the D.C. Circuit, and would boost the odds that the Justice Department might block CFPB efforts to push the case to the U.S. Supreme Court later on. * * * “In the longer term, an […]
So says Lisa Servon in her op-ed, Save the federal consumer watchdog: The CFPB protects us all.
Brad Wolverton's article, Your Wallet Will Suffer If This Agency Is Gutted, is an excellent roundup of the Bureau's accomplishments that cuts across a variety of areas, including student loans, credit cards, debt collection, mortgages, payday loans, credit reporting agencies, auto lending, consumer complaints, military protections, and arbitration. Excerpt: Collectively, for every $1 in federal spending on […]
by Jeff Sovern The American Banker article is headlined Trump discussed Cordray's future in community bank meeting (free content). Excerpt: At one point, Trump expressed to the group that many had urged him to oust Cordray, but the president was not sure it was worth the political backlash. But Trump was apparently under the impression that […]
James P. Nehf of Indiana has written The Impact of Mandatory Arbitration on the Common Law Regulation of Standard Terms in Consumer Contracts, 85 Geo. Wash. Law Review (2017). Here is the abstract: The focus of this paper is the regulation of standard terms in consumer contracts at common law, i.e., judges deciding cases in […]
Here. Excerpt: Any move by the CFPB to adopt a final version of its rule would almost certainly prompt Republican lawmakers to overturn it, with a long-term chilling effect on future regulation of the clauses used by banks and other financial services providers. But if the CFPB does not put out a final rule before […]
Here. Previous posts on the bills appear here and here. Excerpt: The fast-track approach is deemed essential to give the bills time to advance in the more-deliberative Senate, where 60 votes are needed to overcome an almost certain filibuster. * * * With House passage almost certain, opponents and supporters are already turning an eye […]