Here. From the Executive Summary: NCRC has found an extensive mortgage lending imbalance in St. Louis, with mortgage credit distribution heavily swayed by income levels and the racial makeup of neighborhoods. These trends are noteworthy, especially within the City of St. Louis. While median family income is a crucial factor, lending is concentrated in majority […]
Author Archives: Jeff Sovern
The full platform is here. Here are excerpts on consumer protection issues: The Republican vision for American banking calls for establishing transparent, efficient markets where consumers can obtain loans they need at reasonable rates based on market conditions. Unfortunately, in response to the financial institutions crisis of 2008-2009, the Democratic-controlled Congress enacted the Wall Street […]
by Jeff Sovern As we have previously noted, the CFPB has scheduled a July 28 debt collection field hearing, and could announce the beginning of the SBREFA process, leading to a rule-making, that day. NCLC's April Kuehnhoff speculates that the Bureau will also release the results of its debt collection studies then. The Bureau's arbitration study […]
by Jeff Sovern Last week, I posted the abstract for our article, Are Validation Notices Valid? An Empirical Evaluation of Consumer Understanding of Debt Collection Validation Notices. In this post, I wanted to write about something that didn’t appear in the abstract: the extent to which respondents thought a collection letter said the collector would […]
by Jeff Sovern I have now finished the audio version of David Dayen's book, Chain of Title. With two caveats, I think it's an excellent book. The caveats: first, I don't know enough about the events it describes to know how accurate it is, and second, I lose some comprehension with audiobooks, as opposed to […]
Here. The Bureau is likely to announce the Small Business Regulatory Fairness Enforcement Act (SBREFA) proceeding that day, which will entail giving some information about what its proposed debt collection rules are likely to look like.
The story is headlined Pence VP Pick Could Shape Trump's Banking Policy (free content). Here is what the article says about Pence's view of the CFPB: When the Consumer Financial Protection Bureau was just a legislative proposal, Pence objected to giving a new agency so much power; he would likely support efforts to reform the structure […]
by Jeff Sovern Allison posted yesterday about the National Financial Capability Study. GW Business School professor Annamarie Lusardi has a Wall Street Journal essay titled So Much Student Debt, So Much Ignorance, about what the Study, which she co-authored, shows about student debt. An excerpt: The latest NFCS data find that about one-in-five loan holders […]
Joseph M Hnylka of Nova Southeastern has written Continuing to Litigate after You Have Won: Courts Defy Article III to Avoid Mooting TCPA Class Actions, Despite Defendants’ Rule 68 Offers of Complete Relief, 64 Drake Law Review (2016). Here's the abstract: Every day, thousands of ordinary Americans receive unwelcome faxes, text messages, and prerecorded telephone calls […]
by Jeff Sovern My co-author, Kate Walton, and I have posted a draft of our new article, Are Validation Notices Valid? An Empirical Evaluation of Consumer Understanding of Debt Collection Validation Notices to SSRN. We would love comments on this version. Here's the abstract: A principal protection against the collection of consumer debts that are […]