Sternlight has been writing about arbitration for years, and has some interesting comments about the Supreme Court's opinion last week in Sharif at the Indisputably blog. An excerpt: The Supreme Court’s most recent Article III decision, Wellness Int’l v. Sharif (2015), raises substantial questions as to the constitutional legitimacy of the Federal Arbitration Act, 9 […]
Author Archives: Jeff Sovern
Here. An excerpt: The American Bankers Association, however, says its members aren’t ready. And it blames the vendors who supply the software and system upgrades needed for regulatory compliance. In a survey released earlier this month, 79 percent of responding banks said their vendors either had not verified a delivery date for the software updates […]
by Jeff Sovern Some years ago, I wrote an article in which I speculated that disclosing to consumers that consumers rarely redeem rebates might cause consumers to disregard rebate offers. Better-known scholars, like Ian Ayres and Oren Bar-Gill, have expressed similar thoughts. Well, a new study suggests that the contrary is true. Molly Mercer of DePaul's […]
by Jeff Sovern The University of Montana Law School (where my colleague and co-author of the St. John's Arbitration Study, Paul Kirgis, is heading to take up the deanship) has just announced a $10 million gift by alum Alexander "Zander" Blewett and his wife, Andy, part of which will fund a chair in consumer law […]
Lauren E. Willis of Loyola Los Angeles has written what looks like another important article, The Consumer Financial Protection Bureau and the Quest for Consumer Comprehension. Here is the abstract: To ensure that consumers “understand [financial products’] costs, benefits, and risks,” the CFPB has been redesigning mandated disclosures, primarily through iterative lab testing. But no […]
by Jeff Sovern Senator Shelby, chair of the Senate Banking Committee, Housing and Urban Affairs Committee, has released a discussion draft of “The Financial Regulatory Improvement Act of 2015.” The draft provides in Section 117, that the CFPB's new mortgage disclosures (sometimes called the "TRID Rule"), promulgated way back in November of 2013 and scheduled […]