Author Archives: Jeff Sovern

Mehrsa Baradaran’s Terrific Podcast for Who Makes Cents?

by Jeff Sovern I only just found out about Mehrsa Baradaran's terrific interview for the Who Makes Cents podcast. If you haven't made time to read her book, How the Other Half Banks, this will give you a brief introduction. For those who are unfamiliar with podcasts, it is easy to download them to a smartphone […]

ABA Announces Paid Consumer Protection Fellowship for Law Students to Work in AG’s Offices Over the Summer

From the announcement: The Janet D. Steiger Fellowship Project provides law students the extraordinary opportunity to work in the consumer protection departments of state and territorial Offices of Attorneys General and other consumer protection agencies throughout the United States. The eight to ten week paid Fellowships were initiated in 2004 by the ABA Section of […]

Another Name, McWatters, NCUA Head, Said to be on Shortlist to Direct CFPB

So says Victoria Finkle in the American Banker. Other names reportedly on the list are House Financial Services Chair Jeb Hensarling, GMU professor Todd Zwyicki, and Keith Norieka, the former acting head of the OCC who threw a monkey wrench into the CFPB's doomed arbitration rule.  McWatters currently helms the National Credit Union Administration, and […]

Economic Inquiry: Call for Papers for Consumer Protection Economics Symposium

We've received the following Call for Papers: Economic Inquiry is excited to announce a Symposium on the Economics of Consumer Protection. The goal of this symposium is to create a unique reference on consumer protection economics topics that would (a) synthesize what is known about the current state of economic analyses of consumer protection law enforcement and policy, […]

Why Did the CFPB Eliminate Fair Enforcement of the Rules From Its Description of Itself?

by Jeff Sovern As others, including Adam Levitin and David Lazarus have pointed out, the CFPB recently modified its description of itself at the bottom of its press releases.  Here is the old version: The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, […]

LA Times Report on Hearing on PI Motion in English v. Mulvaney, the CFPB Leadership Case

The story is headlined Trump's Wells Fargo tweet cited in court hearing as reason to remove Mulvaney as CFPB acting chief.  The tweet said Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if anything, […]

District Court Hearing on Friday on English PI Motion for Control of CFPB as White House and Treasury are Said to Fight Over the Bureau’s Role

The American Banker''s Kate Berry has a report on the hearing here; it is not optimistic about English's chances. Meanwhile, the WSJ has a story headlined The Internal Divide Behind Trump’s Takeover of Consumer Watchdog about how White House conservatives want to dismantle the Bureau while the Treasury sees a role for the Bureau. Mulvaney's appointment is seen […]

Does Cancellation of the Debt Collection Notice Survey Mean Lawmaking in the Dark Has Come to the CFPB?

by Jeff Sovern Advocates for some positions sometimes block the federal government from researching or supporting research on issues. For example, supporters of gun rights have long had the votes to prevent the government from obtaining data about gun safety.  See, e.g., Newsweek's report titled THE GOVERNMENT WON'T FUND RESEARCH ON GUN VIOLENCE BECAUSE OF […]

Beyranevand Article: Regulating Inherently Subjective Food Labeling Claims

Laurie J. Beyranevand of Vermont has written Regulating Inherently Subjective Food Labeling Claims, 37 Environmental Law 543 (2017).  Here is the abstract: For many consumers, the modern food label serves as the sole source of information regarding any individual food product. While it may be considered informative in some respects, it is often enigmatic in others. The present […]