Here, at The Clearinghouse Blog. Excerpt (footnote omitted): Recently, one hears opponents of regulatory reform arguing that there is no need for regulatory reform because banks are making "record profits." The argument is quite puzzling, but we’ve heard it enough to think it deserved a quick response. Just for starters, step back and think […]
Author Archives: Jeff Sovern
by Jeff Sovern Last week, we reported on a Law360 article by Gary Mason finding benefits to class actions. Mayer Brown's Andrew Pincus has responded to the Law360 piece, also on Law360. Here's an excerpt (with footnotes omitted): The critical question is whether class actions generally deliver relief to class members. The answer: They don’t. * […]
by Jeff Sovern Here. Excerpt: The Consumer Financial Protection Bureau, still under the leadership of an Obama-appointed director, is expected to scale back its new rule on small-dollar lending as it rushes to complete the regulation * * * * * * The rule is now expected to focus on short-term payday loans that are […]
Colin Hanna, President of Let Freedom Ring USA, has penned Forced arbitration: Big banks' 'Star Chamber' in the Washington Examiner. Excerpt: Elbridge Gerry was a colonial-era plutocrat who became a patriot, a signer of the Declaration of Independence and a champion of equal justice under the law. * * * One of his more famous sayings was […]
Gary E. Mason of Whitfield Bryson & Mason LLP has written The Proper Measure Of The Value Of Class Actions for Law360. Excerpt: Of the 118 cases initiated in 2012, 102 (or nearly 90 percent) had reached a final resolution by May 1, 2017, the date on which our study closed. Twenty-three of those cases (or […]
Lauren E. Willis of Loyola of Los Angeles has written Performance-Based Remedies: Ordering Firms to Eradicate Their Own Fraud, 80 Law and Contemporary Problems 7-41 (2017). Here is the abstract: In resolving cases of unfair, abusive, and deceptive acts and practices, consumer protection enforcement agencies often prospectively dictate—in great detail—the design of defendants’ marketing, websites, […]
In Law360, by Andrew Sandler and Benjamin K. Olson Here is an excerpt: It is not entirely clear whether the Dodd-Frank Act or the [Federal Vacancies Reform Act] controls in these circumstances. The one thing that is clear is that there will be real and significant differences in the operation of the CFPB depending on which […]
David Marcus of Arizona has written The History of the Modern Class Action, Part II: Litigation and Legitimacy, 1981-1994, Fordham Law Review (forthcoming 2018). Here is the abstract: The first era of the modern class action began in 1966, with revisions to Rule 23 of the Federal Rules of Civil Procedure. It ended in 1980. […]
by Jeff Sovern Here is a report on the mortgage default rate from Housing Wire. So we have a low mortgage default rate and record highs in consumer debt, as Brian reported earlier, half a dozen years after creation of the CFPB. Yet conservatives want to eliminate or reduce the Bureau's power.
We received the following call for papers: The Innovation Center for Law and Technologyat New York Law School and The Center on Law and Information Policyat Fordham University School of Law are pleased to issue this Call for Papers for the inaugural Northeast Privacy Scholars Workshop, which will take place at New York Law School on October […]