Nathan Cortez of SMU has written Regulation by Database, University of Colorado Law Review, Vol. 89, 2017. Here is the abstract: The federal government currently publishes 195,245 searchable databases online, a number of which include information about private parties that is negative or unflattering in some way. Federal agencies increasingly publish adverse data not just […]
Author Archives: Jeff Sovern
Bloomberg reports in a story headlined How Detroit Deadbeats Taught Tax Collectors That Threats Really Work, on a study by Ben S. Meiselman titled Ghostbusting in Detroit: Evidence on Nonfilers from a Controlled Field Experiment. No wonder some debt collectors use threats!
by Jeff Sovern Here. As previously reported on the blog, it would eliminate the CFPB's power to stop unfair, deceptive, or abusive practices (section 736)–that is, the power the Bureau used to stop Wells Fargo from opening sham accounts–and to regulate arbitration (section 738)–that is, the section that would give the CFPB the power to […]
NerdWallet reports here about the leaving of voicemails without ever calling–to evade limits on phone calls–and avatars, among other things.
by Jeff Sovern Earlier, Allison posted a link to an op-ed opposing rescission of the CFPB's prepaid card rule. For readers who would like to hear what opponents of the prepaid card rule argue, here is an op-ed in The Hill by Andrew Langer of the Institute for Liberty (I wonder who provides their funding). […]
Here. Excerpt: The CHOICE Act also rejects the painful lessons about toxic financial products from the financial crisis and Great Recession in which 10 million families lost their homes and Americans collectively lost $19 trillion in wealth. Instead of continuing post-crisis reforms that have ensured the availability of safe and affordable financial products, it would […]
Here, in SCOTUSblog. Sounds like the justices are leaning towards finding for the debt buyers, but oral arguments can be a treacherous guide to the final result.
by Jeff Sovern I finally finished listening to the House Financial Service's Committee's April 5 hearing: a more than five-hour long interrogation of CFPB Director Richard Cordray. I am torn between thinking every American should listen to some of it–to see how awful some members of Congress are–and thinking no one should have to listen to […]
Here. Quoting now: “Gary Cohn gave Richard Cordray, the head of the Consumer Financial Protection Bureau, an ultimatum over dinner a few weeks ago: Go the easy way, or go the hard way. “Cohn, President Donald Trump’s top economic adviser, had heard the rumors that Cordray wanted to run for governor in Ohio. He left […]
Here. It's the "On Money" column by Gary Rivlin. Excerpt: Three days after Donald Trump was sworn in as president, the United States government fined a couple of Citigroup subsidiaries $28.8 million for giving the runaround to tens of thousands of borrowers who were trying to avoid foreclosure on their homes. One week later, it […]