The American Banker has the story here and here is the Chicago Tribune's coverage. The bill would require the CFPB, as well as other independent federal agencies, to jump through additional hoops before adopting regulations. Many consumer groups have also opposed the bill in a letter.
Author Archives: Jeff Sovern
Here. An excerpt: Lawyers believe Cordray will remain at the helm of the agency until his appointment expires in December 2013, though some predict he'll step down a few months early to run for governor of Ohio. As a result, the CFPB — at least initially — is likely to hold course. That means more […]
by Jeff Sovern The Times reports that many phone apps, including the Angry Birds game (and the flashlight apps that many who lose power because of the storm on the East Coast today may use), spy on their users–and usually without the users' knowledge. Sometimes they gather information from contact lists and even from photos. […]
Shay Lavie of Harvard has written The Malleability of Collective Litigation, forthcoming in the Notre Dame Law Review. Here is the abstract: In Wal-Mart v. Dukes (131 S.Ct. 2541 [2011]), Wal-Mart avoided class action because employment decisions were made by local supervisors. However, it was Wal-Mart who chose to delegate discretion; by doing so, it […]
More information here. Abstracts are due December 7. (HT: Kathleen Engel)
Daniel A. Austin of Northeastern has written The Indentured Generation: Bankruptcy and Student Loan Debt, 53 Santa Clara Law Review (forthcoming) Here's the abstract: A generation of Americans has borrowed heavily for their education, and hundreds of thousands of them are deeply in debt. Some 37 million Americans owe a total of approximately $1 trillion […]
Here. An excerpt from what the collector supposedly said: "F— you! Pay us your money! You can't afford an attorney. You owe us. I hope your wife divorces your a–. If you would have served our country better you would not be a disabled veteran living off social security while the rest of us honest […]
by Jeff Sovern I've been studying up on student loans because we intend to include some materials on them in the next edition of our casebook. One thing I've learned is that the federal Higher Education Act and its implementing regulations require students obtaining federal student loans to have counseling before they take the loans. See 34 […]