Sumit Agarwal of the National University of Singapore, Souphala Chomsisengphet of the Office of the Comptroller of the Currency, Neale Mahoney of Chicago's Booth School of Business and the National Bureau of Economic Research and Johannes Stroebel, an NYU finance professor have written Regulating Consumer Financial Products: Evidence from Credit Cards. Here is the abstract: […]
Author Archives: Jeff Sovern
Jennifer S. Martin of St. Thomas has written The Repo Man Did What? A Secured Creditor's Article 9 Right to Repossess Collateral and When Lenders Have Liability for Repossessions Gone Awry, 28-5 Commercial Damages Reporter 1 (2013). Here's the abstract: This Article observes that there is not a clear consensus among courts in how […]
Ryan Bubb and Richard H. Pildes, both of NYU, have written How Behavioral Economics Trims Its Sails and Why, 127 Harvard Law Review (2014). Here's the abstract: This article argues that the preference of behavioral law and economics (BLE) for regulatory approaches that preserve “freedom of choice” has led to incomplete policy analysis and ineffective […]
Samantha Friedman of SUNY University at Albany and Angela Reynolds, Susan Scovill, Florence R. Brassier, Ron Campbell, and McKenzie Ballou, all of . Davis and Company, Inc. have written An Estimate of Housing Discrimination Against Same-Sex Couples. Here's the abstract: This is the first large-scale, paired-testing study to assess housing discrimination against same-sex couples in […]
Cara L. Wilking of the Public Health Advocacy Institute and Richard A. Daynard of Northeastern have written Beyond Cheeseburgers: The Impact of Commonsense Consumption Acts on Future Obesity-Related Lawsuits, Food and Drug Law Journal, Vol. 68, No. 3, pp. 229 -329, 2013. Here is the abstract: Since 2004, 25 states have passed Commonsense Consumption Acts […]
by Jeff Sovern House Financial Services Committee Chair Jeb Hensarling is still blaming regulation for the Great Recession. He recently pened an op-ed for the American Banker, Regulation – Not Lack Thereof – Led U.S. into Financial Crisis. In it, he repeats the right wing's frequently-debunked claim that the Community Reinvestment Act caused lenders to make the loans that […]
by Jeff Sovern Which happens first: a win by the NY Giants or Congress resolves the budget impasse? Put your responses in the comments (Disclosure: though I am in New York, I am not a Giants fan).
Robert C. Hockett of Cornell has written Post-Bubble Foreclosure-Prevention and -Mitigation Options in Seattle. Here's the abstract: This paper, commissioned by the Seattle City Council, takes the measure of Seattle's post-bubble negative equity and foreclosure problems, estimates numbers of underwater loans that have benefitted by existing federal, state and local programs, and recommends several options […]
The Report is here. From the press release: Total cost of credit declined: The CFPB found that the total cost of credit declined by two percentage points between 2008 and 2012. The total cost of credit includes all fees, interest, and finance charges paid by the consumer to the card issuer. The decline in the […]
Katherine J. Strandburg of NYU has written Free Fall: the Online Market's Consumer Preference Disconnect, University of Chicago Law Forum (2013). Here's the abstract: Do Internet users “pay” for online products and services with personal data? The common analogy between online data collection for behaviorally targeted advertising and payment for purchases is seriously misleading. There […]