According to a report by the Urban Institute. The report breaks down the data by county and other demographic data. AccountsRecovery.Net has a story here. Nearly half of consumers in Louisiana have a debt in collection.
Author Archives: Jeff Sovern
by Jeff Sovern The tweet reads: 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, substantially increased. I will cut Regs but make penalties severe when caught cheating! If the CFPB continued […]
by Jeff Sovern The old Soviet Union assigned political officers, called zampoliti, to military units to monitor the units for political correctness, as the Soviets defined it, among other purposes. According to an American Banker article authored by Kevin Wack, Mulvaney's plan to embed political staffers in CFPB sparks backlash, the purported Acting CFPB Director, Mick […]
The National Law Journal has the schedule here. If granted, the motion would presumably be in place until entry of judgment.
Harvard SJD candidate Aluma Zernik has written When Markets, Consumers and Regulators Collide: Overdrafts in the US, UK and Israel. Here's the abstract: There is a fierce debate in the US about whether to regulate overdrafts and, specifically, about whether overdraft should be limited or prices should be capped. Proponents of regulation claim overdrafts are not […]
by Jeff Sovern So reports the American Banker. Mulvaney can't simply rescind the payday lending rule without going through the time-consuming notice and comment process. But if the rule takes effect, and the industry challenges it, what happens if Mulvaney orders the CFPB lawyers not to defend the rule? Does the CFPB have an obligation […]
The architects of the Dodd-Frank Act, including former Senator Dodd, former Representative Frank, and former Treasury official Michael Barr, held a press conference on Thursday to make the point that Congress did not want the Vacancies Act to apply to the CFPB. The American Banker has a report here. Excerpt: They said a federal judge […]
Robin Bradley Kar of Illinois and Margaret Jane Radin of Toronto and Michigan have written Pseudo-Contract & Shared Meaning Analysis. Here is the abstract: Over the last several decades, courts have struggled with when to enforce boilerplate text as contract. An example is the copious digital text that consumers receive links to before clicking “I agree” […]