So Law360 reports here. The jury apparently found that Transunion did not follow reasonable procedures to assure maximum possible accuracy, as required under FCRA 1681e, when it reported that consumers' names matched those on a government watch list for terrorists and criminals.
Author Archives: Jeff Sovern
by Jeff Sovern Here. Disclosure: I was one of the podcast speakers.
by Jeff Sovern Yesterday, SCOTUS decided the Bristol-Meyers case, limiting the power of state courts to exercise specific personal jurisdiction over out-of-state defendants in cases brought by out-of-state plaintiffs. State courts can still hear cases, including nationwide class actions, through their general jurisdiction over defendants, as long as the defendant is essentially at home in […]
Brooklyn's David Reiss has written an op-ed for The Hill, Americans are better off with consumer protection in place. Excerpt: [T]he [Treasury] report argues that the bureau’s jurisdiction overlaps with that of other regulators. That is a red herring. The fact is that abusive lending practices were rampant in the years leading up to the […]
Here. It might even happen by the end of this year. Excerpt: "Creditors should be responsible since they are our customers," said Dong Hong, vice president and senior counsel at the Consumer Bankers Association. "For the most part, we're fine with the disclosure regime the CFPB is creating.
Here. She discusses the CFPB, among other things.
Another important story from Jessica Silver-Greenberg & Michael Corkery here. I can't do justice to it with a brief excerpt, but see if this makes you want to read the whole piece (which you should): More than a decade after Yvette Harris’s 1997 Mitsubishi was repossessed, she is still paying off her car loan. She […]
Mariateresa Maggiolino of Bocconi University has written Personalized Prices in European Competition Law. Here is the abstract: The advent of big data analysis techniques make personalized prices possible. This paper sketches a preliminary picture of this new phenomenon, first explaining how personalized prices flow from big data analysis, how personalized prices fit into the economic […]
Here. Excerpt: [T]he CRA only covers banks, not nonbank financial firms. That leads to an uneven playing field, said Jeffrey Naimon, a BuckleySandler LLP partner. "Banks are asking why should a national nonbank mortgage lender have no CRA but a bank have a CRA requirement?" he said. The National Community Reinvestment Coalition said it is […]