Todd J. Zywicki of George Mason, and Geoffrey A. Manne and Kristian Stout, both of the International Center for Law and Economics, have written Behavioral Law & Economics Goes to Court: The Fundamental Flaws in the Behavioral Law & Economics Arguments Against No-Surcharge Laws. Here is the abstract: During the past decade, academics — predominantly […]
Author Archives: Jeff Sovern
by Jeff Sovern As earlier reported by the CFPB Monitor and elsewhere, President-Elect Trump has named three new members to the CFPB "Landing Team." One of the members, Kyle Hauptman, is a Senior Development Manager at the American Enterprise Institute. The AEI has on its website some articles that may give clues as to Mr. […]
by Jeff Sovern In a characteristically terrific post at Credit Slips, Georgetown's Adam Levitin explains the real reasons for calls to fire CFPB Director Cordray. A worthy companion to Adam's recent op-ed at American Banker (free content), What the CFPB 'Commission' Debate Is Really About. Both worth a read.
Here (behind paywall). Excerpt: In mid-November, a Twitter group called Sleeping Giants became the hub of the new movement. The Giants and their followers have communicated with more than 1,000 companies and nonprofit groups whose ads appeared on Breitbart, and about 400 of those organizations have promised to remove the site from future ad buys. […]
Pamela Foohey of Indiana has written Calling on the CFPB for Help: Telling Stories and Consumer Protection, 80 Law & Contemporary Problems (Forthcoming). Here is the abstract: Since it began operating in 2011, the Consumer Financial Protection Bureau (CFPB) has handled more than a million complaints regarding consumer financial product and services. Beginning in June 2015, […]
Christopher R. Drahozal of Kansas has written The Issue Preclusive Effect of Arbitration Awards, Proceedings of the NYU 69th Annual Conference on Labor: Mediation and Arbitration of Employment and Consumer Disputes, Forthcoming. Here's the abstract: Courts in the United States have two primary means (in addition to individual adjudication) by which to resolve disputes in […]
Report here. Here's what it says: POLITICO's Lorraine Woellert: "Richard Cordray 'has no plans' to leave the top job at the CFPB, the agency said today. 'Director Cordray was confirmed by a bipartisan group of 66 senators to serve a term until July 2018 and has no plans to step down,' CFPB Communications Director Jen […]
by Jeff Sovern The FTC is a terrific agency that has done a lot of good for consumers. Every FTC staffer I've ever met has impressed me as dedicated to consumer welfare, hard-working, and talented. And yet, the FTC could do more if it weren't hamstrung by precisely the limits the financial industry and the […]
WSJ report here (behind paywall). The Caucus consists of 40 members. The article reports that they seek rollback of 200 rules, but they anticipate that the number will rise.
Robert H. Klonoff of Lewis & Clark has written Class Actions Part II: A Respite from the Decline. Here is the abstract: In a 2013 article, I explained that the Supreme Court and federal circuits had cut back significantly on plaintiffs' ability to bring class actions. As I explain in the present article, that trend […]