James P. Nehf of Indiana has written The Impact of Mandatory Arbitration on the Common Law Regulation of Standard Terms in Consumer Contracts, 85 Geo. Wash. Law Review (2017). Here is the abstract: The focus of this paper is the regulation of standard terms in consumer contracts at common law, i.e., judges deciding cases in […]
Author Archives: Jeff Sovern
Here. Excerpt: Any move by the CFPB to adopt a final version of its rule would almost certainly prompt Republican lawmakers to overturn it, with a long-term chilling effect on future regulation of the clauses used by banks and other financial services providers. But if the CFPB does not put out a final rule before […]
Here. Previous posts on the bills appear here and here. Excerpt: The fast-track approach is deemed essential to give the bills time to advance in the more-deliberative Senate, where 60 votes are needed to overcome an almost certain filibuster. * * * With House passage almost certain, opponents and supporters are already turning an eye […]
Here. Excerpt: Drywall from China was . . . highly toxic. * * * Approximately 60,000 homes built with drywall from China were affected, according to one source. In fact, the problems caused by this imported drywall are so massive and widespread that individual lawsuits could not have even begun to make a dent in […]
It's titled Will Congress Remove Consumer Credit “Seat Belts”? and is in Democracy. The whole piece is worth reading if you care about the CFPB, but here's an excerpt to whet your appetite: [I]f the CFPB really were a “runaway agency,” we should expect to see banks running from it. In every law enforcement case, […]
From the press release: On Tuesday, March 7, Senator Al Franken (D-Minn.) and top Senate and House Democrats will hold a press conference to push legislation to stop the use of unfair forced arbitration clauses, which are widely used by corporations to limit consumers’ and employees’ access to justice. The lawmakers will be joined by […]
by Jeff Sovern As an independent agency, the CFPB can issue regulations without approval from the Office of Management and Budget. But the House has now passed a bill that would require OMB to review major regulations promulgated by independent agencies, including the CFPB and the FTC (though the FTC seldom produces regulations, a topic […]
Here. (HT: Gregory Gauthier)
Eric Goldman of Santa Clara has written Understanding the Consumer Review Fairness Act of 2016, Michigan Telecommunications and Technology Law Review, Forthcoming. Here's the abstract Consumer reviews are vitally important to our modern economy. Markets become stronger and more efficient when consumers share their marketplace experiences and guide other consumers toward the best vendors and […]
Colin P. Marks of St. Mary's has written Online and As Is. Here is the abstract: Online retail is a multi-billion-dollar industry in the United States. Consumers enjoy the ease with which they can browse, click, and order goods from the comfort of their own homes. Though it may come as no surprise to most […]