by Jeff Sovern Last week, the Senate Banking Committee held a hearing on Alternative Financial Products. The American Banker account is here, albeit behind a paywall. I found most interesting the payday lending discussion, and in particular the arguments made against regulation. At one point, a Senator (I think Toomey, Republican of Pennsylvania), questioned a witness, Stephanie […]
Author Archives: Jeff Sovern
Paul Harrison, Marta Massi & Kathryn Chalmers have written Beyond Door-to-Door: The Implications of Invited In-Home Selling, 48 J. Consumer Affairs 195 (2014). Here is the abstract: Over the past 20 years, consumer groups and policymakers have expressed concerns about the high-pressure selling techniques used during in-home selling, often highlighting the distinction between typical door-to-door […]
J Michael Collins has written Protecting Mortgage Borrowers through Risk Awareness: Evidence from Variations in State Laws, 48 J. Consumer Affairs 124 (2014). Here is the abstract: In the wake of historic levels of mortgage defaults, regulators have debated how to regulate certain high-risk loans because of the risks of foreclosure involved. This study examines […]
by Jeff Sovern The Journal of Consumer Affairs published my paper, Fixing Consumer Protection Laws So Borrowers Understand Their Payment Obligations, 48 Journal Consumer Affairs 17 (2014). Here is the abstract: The millions of consumers who defaulted on their mortgages in recent years should all have received disclosures mandated by the federal Truth in Lending […]
Larry Kirsch, Roert N. Mayer and Norman I. Silber of Hofstra have authored, The CFPB and Payday Lending: New Agency/Old Problem, 48 Journal of Consumer Affairs 1 (2014). Here's the abstract: The Dodd-Frank Act of 2010 brings nonbank payday lenders under federal regulation for the first time. The question of precisely how to regulate the payday […]
Joshua Mitts of Sullivan & Cromwell has written How Effective is Mandatory Disclosure? Here's the abstract: Mandatory disclosure lies at the cornerstone of consumer protection law but its efficacy is unclear. I conduct one of the first online experiments on mandatory disclosure by evaluating a recent proposal to warn consumers of unexpected, unfavorable terms. To […]
The Georgetown Consumer Law Society and Citizen Works are hosting a symposium, Making the Fine Print Fair, at Georgetown on April 4 from 8:30 a.m. to 6:30 p.m. Speakers include FTC Chairwoman Edith Ramirez; Ralph Nader; Georgetown Dean William Treanor; Associate Dean Gregory Klass; Professors David Vladeck, Adam Levitin; CL&P bloggers Deepak Gupta, Scott Michaelman, […]
Not this hard! You can read about Theresa Amato's and my Don Quixote imitation here.
Bruce Wardhaugh of the School of Law–Queen's University Belfast haas written Unveiling Fairness for the Consumer: The Law, Economics and Justice of Expanded Arbitration, forthcoming in the Loyola Consumer Law Review. Here is the abstract: In recent years, the US Supreme Court has rather controversially extended the ambit of the Federal Arbitration Act to extend […]
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