by Jeff Sovern Earlier today, the US Chamber of Commerce released a letter to CFPB Director Richard Cordray from David Hirschmann, President and CEO, Center for Capital Markets Competitiveness, urging the Director to address certain issues at Thursday's CFPB arbitration field hearing. Here's one of those issues, as stated in the letter: [T]he public would benefit […]
Author Archives: Jeff Sovern
Brian D. Galle of Georgetown has written The Problem of Intra-Personal Cost. Here is the abstract: “Externalities”, or harms to others, provide a standard justification for government intervention in the private market. There is less agreement over whether government is justified in correcting “internalities,” or harms to self the self is largely powerless to avoid. […]
Christopher P. Guzelian of Thomas Jefferson, Michael Ashley Stein of Harvard Law School and the University of Pretoria Faculty of Law, and H. S. Akiskal of UC San Diego Department of Psychology have written Credit Scores, Lending, and Psychosocial Disability, 95 Boston University Law Review 1807 (2015). Here is the abstract: Credit scores have become a […]
Bankrate has the story here. Excerpt: It's one thing to see banks marketing financial products they sell, like credit cards. It's another thing altogether to see them trying to sell cars, says Elisabeth Honka, assistant professor of marketing at the UCLA Anderson School of Management. "This is the first time I'm seeing it," Honka says. […]
The CFPB typically invites representatives from various organizations to speak at its field hearings. According to an email report, U.S. Chamber Center for Capital Markets Competitiveness Executive Director Travis Norton will be one of the speakers at next Thursday's arbitration field hearing.
by Jeff Sovern Earlier this month, Allison posted a link to a story about the PHH case in which the D.C Circuit heard arguments about whether the CFPB's structure is constitutional (CFPB Monitor reports on the oral argument here). The Wall Street Journal has now run an editorial (behind a paywall) arguing that the Bureau […]
We received the following announcement: The University of Amsterdam's Institute for Information Law (IViR) is accepting applications for its fourth annual Summer Course on Privacy Law and Policy which will be held from July 4-8, 2016, The course focuses on privacy law and policy related to the internet, electronic communications, and online and social media. It explores both the […]
by Jeff Sovern Critics of consumer protection regulation routinely assert that such regulation reduces access to credit and increases consumer costs. For example, here is what Todd Zywicki wrote in his recent testimony before the Senate Banking Committee (footnote omitted): By imposing a regulatory regime that substitutes the judgment of bureaucrats for consumer decisions, Dodd-Frank […]
Russell M. Gold of NYU and Wake Forest has written Compensation's Role in Deterrence, forthcoming in 91 Notre Dame Law Review (2016). Here is the abstract: There are plenty of non-economic reasons to care whether victims are compensated in class actions. The traditional law and economics view, however, is that when individual claim values are […]
Howard M. Erichson of Fordham has written Aggregation as Disempowerment, 92 Notre Dame Law Review (Forthcoming). Here is the abstract: Class action critics and proponents cling to the conventional wisdom that class actions empower claimants. Critics complain that class actions over-empower claimants and put defendants at a disadvantage, while proponents defend class actions as essential to […]