Here. The whole article is worth reading, but here's an excerpt: Buried deep in President Donald Trump’s 2018 budget request to Congress—specifically, on page 158 out of 159 pages in the supplemental "Major Savings and Reforms" document—is a section headed “Restructure the Consumer Financial Protection Bureau.” It appears to be yet another Republican shot across […]
Author Archives: Jeff Sovern
by Jeff Sovern We posted the first part of California-Irvine professor Leah Litman's take on the PHH case last week. Here is part two. Professor Litman offers a perspective on Humphrey's Exec, the Supreme Court case that held an independent agency–there, it was the Federal Trade Commission–was constitutional. I have wondered for some time how the […]
Consumer protection litigator Joel Winston wrote the article that prompted the fact check, and here is the fact check.
Here, in a report by Ted Frank (who is objecting to the settlement) and Will Chamberlain about Kumar v. Salov North America Corp., . Excerpt: The class will probably recover about $320,000 in cash; roughly 65,000 class members jumped through the hoops to file claims worth about $5 each. But class counsel is asking for […]
by Jeff Sovern Sometimes when credit card issuers send out mail solicitations, they experiment with different forms of notice to see which one generates a higher response rate. For example, they may send out one mailing to 10,000 people with one prominent sentence on the outside of the envelope, and another to a similar group with […]
Here. Excerpt: Financial firms, spurred by the Trump administration’s promises to deregulate, hope to return to offering short-term, high-interest loans after being pushed out of the sector by Obama-era rules. Two leading trade groups, the American Bankers Association and Consumer Bankers Association, recently proposed to Treasury Secretary Steven Mnuchin several steps they say would encourage […]
The House passed the bill in January. The bill provides that regulations imposing more than $100 million in costs would not take effect unless Congress affirmatively voted to approve them. The bill passed the Senate Homeland Security and Governmental Affairs Committee on a vote of 8 to 6. More here from Reason.
Here is a Reuters story to bring you up to date. And here is California-Irvine professor Leah Litman's take on the case.
Here. According to Experian, in "2016, over 15 million Americans were victims of identity theft, up 16 percent from the previous year." Some upsetting findings: • Only half (49 percent) of respondents feel they are likely to become a victim of identity theft * * * • A significant majority of respondents (72 percent) think […]