Here (behind paywall but a short version is available here). Excerpt: “We have a lot of investigations in the pipeline,” Chopra said. “There is a ton of work that is moving forward, but I’m really hopeful that no matter what the future holds, there is going to be strong support for some of our rulemakings.”
Author Archives: Jeff Sovern
Ian Ayres of Yale and Gregory Klass of Georgetown have written How to Use the New Restatement of Consumer Contracts: A Guide for Judges. Here’s the abstract: In the absence of major legislation or regulatory action, U.S. consumers will continue to look to courts and the common law for protection when businesses engage in unfair and […]
On February 7, CFPB General Counsel Seth Frotman gave a talk at the University of Michigan, The Federal General Counsel, Law, and Our Democracy at a Crossroads. The entire speech is worth a read, but I want to quote one part that describes Frotman’s view of what the CFPB should do and provides a test […]
In some recent postings, I’ve focused on what the Trump administration will do on consumer protection, but I don’t want to lose sight of what the people who served in the CFPB, FTC, and a variety of other agencies did during the last four years to protect consumers. Consumers are much better off for their […]
The headline reads Trump team eyes hiring freeze, regulatory rollbacks for CFPB (behind paywall but available on Lexis). According to Berry, a Trump review team is now at the Bureau, with a transition team coming next week. George Mason’s Todd Zywicki is part of the review team. Berry identifies as possible directors FDIC vice chair […]
Here. The introduction states: “We believe that the interpretations set forth in these documents reflect the best reading of the federal consumer financial laws and that the reasoning provided therein will therefore prove to be durable.” I hope that the guidance does indeed prove to be durable.
If so, you might want to listen to Alan Kaplinsky’s fireside chat podcast with former CFPB official David Silberman, sign up for two forthcoming Ballard Spahr webinars, or for McGuireWoods’s upcoming webinar.
Here, authored by Seth Frotman and Lorelei Salas. Here is a particularly intriguing excerpt: Now that companies are being held accountable for charging [certain] unlawful fees, they have switched to new, underhanded tactics to try to continue to extract junk fee revenue from people. For example, we have seen some debt collectors unlawfully amend consumers’ […]
Adam Feibelman of Tulane University has written Relocating the Community Reinvestment Act. Here’s the abstract: The Community Reinvestment Act was enacted in 1977 to address the failure of financial institutions to provide credit and financial services in low-income communities, especially Black neighborhoods. The Act is part of a family of legal regimes, including the Home […]
The complaint is here. and concerns the finding announced shortly before the election that the poll had Harris leading Trump among Iowans. The suit is against the Des Moines Register, the pollster and Gannett; the UDAP statute in question is Iowa Code § 714H.3(1). That statute provides: A person shall not engage in a practice […]