Here (free content, I think). Excerpt: While Republican lawmakers are likely to focus on efforts to replace the agency's single director with a bipartisan five-member commission, as well as subject it to the Congressional appropriations process, Trump may seek to take more immediate action once he takes office in January. Some said he could either pressure […]
Author Archives: Jeff Sovern
Here (behind paywall). Excerpt: While his lack of clarity has left many in the financial services industry wondering what Trump’s win will mean, the presence of Pence in the No. 2 spot is likely to provide a good clue. * * * “He’s going to be in an enormously powerful position to influence policy,” Lynyak […]
Here (behind paywall). Excerpt: The CFPB is expected to appeal the three-judge panel’s decision [in PHH] to the full D.C. Circuit, where Democrat-appointed judges have a majority. But a question hanging over the transition is whether Trump will still try to replace Cordray—either by invoking the D.C. Circuit panel’s decision or finding cause to fire […]
Here. Excerpt: It will be interesting to see what Cordray attempts to accomplish between now and January 21, 2017. One thought is that he might try to focus on finalizing those rules that have already been out for public comment – payday and arbitration. With the completion of the debt collection SBREFA hearing in August, […]
by Jeff Sovern It looks like the Republicans have captured the presidency and both houses of Congress, but that the Democrats will retain enough Senate seats to use the filibuster to block legislation, assuming the filibuster rules don't change. Filibusters cannot be used to prevent confirmation of most presidential nominees, but can still be used […]
Here. For example, advertisers can specify that their housing ads not be shown to African-Americans, Asian-Americans, Hispanics, etc., in apparent violation of various laws. HUD is now reported to be looking into the matter, and a class action suit has been filed. It is not clear from the story whether the option is limited to […]
by Jeff Sovern Here. Makes me wonder how consumers can keep up, as well as what they got for their money.
CBS MoneyWatch has the story here. (HT: Gregory Gauthier). Excerpt: While the arbitrator sided with Dempsey, the ruling proved to be something of a Pyrrhic victory. The decision awarded Dempsey more than $20,500 in actual and punitive damages, as well as $30,000 in attorney fees, or about one-third of Dempsey’s legal costs. Since Citibank has […]
Just in time for the Supreme Court's oral argument on Tuesday in Wells Fargo v. Miami, Suffolk's Kathleen Engel, an important thinker on consumer law, has written Local Governments and Risky Home Loans, 69 Southern Methodist University Law Review 609. Here is the abstract: Municipalities from the Central Valley in California to Upstate New York bear the […]
Anthony J. Sebok of Cardozo has written The Unwritten Federal Arbitration Act, 65 DePaul Law Review (2016). Here's the abstract: Justice Scalia’s opinion in AT&T Mobility LLC v. Concepcion presented a new challenge to lawyers and scholars concerned with the unbridled growth of mandatory consumer arbitration. Not only did the decision continue to expand the scope […]