Here. And an FTC infographic below:
Author Archives: Jeff Sovern
Lewis A. Grossman of American has written FDA and the Rise of the Empowered Consumer. Here's the abstract: This paper traces the historical evolution of a view of consumers as informed, rational, and rights-bearing decision makers, and the corresponding diminution of FDA’s role as a paternalistic gatekeeper acting in conjunction with medical and scientific experts […]
by Jeff Sovern Last week, the Times ran an article about companies that sell consumer data to businesses but won't provide it to the consumers involved. Despite the headline, reprinted above, I thought the article didn't really explain why companies won't provide the information to consumers. So I wrote a letter with my explanation, which […]
by Jeff Sovern Tomorrow's Sunday Times has a series of letters on the issue of whether society needs more regulation or less. One letter, by Dennis Canfield of Western Springs, Ill., opines: The problem with the current state of government involvement in our daily lives is that the overwhelming majority of it — from employment regulations […]
by Jeff Sovern The report is here. The study identifed "best" and "good practices" and then looked to see if 36 of the largest 50 banks employed those practices (the practices of the other 14 could not be obtained without physically visting the banks). From the Overview: Pew defines best practices as those that are the […]
Here. One possible compromise: create an inspector general for the CFPB.
by Jeff Sovern Here. One surprise is that the regulator in question is the Office of the Comptroller of the Currency, which is showing still more evidence that it has escaped the clutches of the financial industry, which had captured the OCC in the past. An excerpt: The OCC’s investigation reflects the agency’s increasing focus […]
Fernando López Vicente of the Bank of Spain has written The Effect of Foreclosure Regulation: Evidence for the US Mortgage Market at State Level. Here's the abstact: Do laws to protect borrowers curb foreclosures? This question is addressed by analysing the impact of foreclosure laws on default rates at state level in the US mortgage […]
Two Yale heavyweights, Ian Ayres & Alan Schwartz, have written The No Reading Problem in Consumer Contract Law, forthcoming in the Stanford Law Review. Here is the abstract: Instead of attempting to promote informed consumer assent through quixotic attempts to have consumers read ever-expanding disclosures, this Article argues that consumer protection law should focus on […]