Sandeep Dhameja, Katy R. Jacob and Richard D. Porter, all of the Federal Reserve Bank of Chicago, have written Clarifying Liability for Twenty-First-Century Payment Fraud, 37 Economic Perspectives (2013). Here's the abstract: This article examines the governance structure of retail payments in the United States, provides an overview of payment fraud, and discusses in depth […]
Author Archives: Jeff Sovern
Here. Lots of FDCPA violations.
by Jeff Sovern A theme of the President's state of the union address was that if he cannot achieve his goals by working with Congress, he will pursue those goals unilaterally, to the extent he can, through executive action. One tool presidents have is the purchasing power of the United States. The US buys about […]
by Jeff Sovern Here (behind a paywall). Cordray was testifying before the House Financial Services Committee and, according to the article, was subject to some attacks that seem absurd, at least to me. Excerpt: [Rep. Stevan Pearce, R-N.M] suggested that data collection undertaken by the CFPB could be passed onto political campaigns. "But I will […]
Here. Here's a list of the articles: Credit Reports and Employment: Findings from the 2012 National Survey on Credit Card Debt of Low- and Middle-Income Households by Amy Traub · Medical Debt and Its Relevance When Assessing Creditworthiness by Mark Rukavina Discriminatory Effects of Credit Scoring on Communities of Color by Lisa Rice and Deidre Swesnik The Misconception of […]
James Angel of Georgetown's Finance Department and Douglas M. McCabe of Georgetown's Management Department have written The Ethics of Payments: Paper, Plastic, or Bitcoin? Here is the abstract: Individuals and businesses make billions of payments every day in various forms. Payers have choices about what forms of payment they will make, and payees also have […]
RESEARCH COLLOQUIUM: CALL FOR PAPERS LEGAL AND ETHICAL ISSUES IN PREDICTIVE DATA ANALYTICS June 19 & 20, 2014 Blacksburg, Va. Abstract Submission Deadline: March 3, 2014 A research colloquium, “Legal and Ethical Issues in Predictive Data Analytics,” hosted by Professor Janine Hiller of Virginia Tech and co-organized by Professor Tonia Hap Murphy of the University […]
Here. An excerpt: In late March, the Consumer Financial Protection Bureau—the consumer watchdog agency dreamt up by Sen. Elizabeth Warren (D-Mass.)—issued new, voluntary guidelines aimed at ensuring car dealerships are not illegally ripping off minorities. Since then, 13 Senate Democrats, including Sens. Heidi Heitkamp (D-N.D.) and Mary Landrieu (D-La.); and 22 House Dems, including Reps. […]
by Jeff Sovern I'm finally getting around to reading the CFPB's December 12 report, Arbitration Study: Preliminary Results, about which Brian blogged here. Though the Bureau does not make much of it, perhaps because the natural experiment has some flaws (as natural experiments often do), the CFPB Study sheds some light on the impact of arbitration […]
Oz Shy of the Federal Reserve Bank of Boston and Rune Stenbacka of the Swedish School of Economics and Business Administration have written Customer Privacy and Competition. Here is the abstract: We analyze how different degrees of privacy protection affect industry profits, consumer welfare and total welfare. Firms earn higher profits under weak privacy protection […]