As reported in Politico’s Morning Money enewsletter, two courts in Texas and Texas Attorney General Ken Paxton, have rejected arguments that the CFPB cannot act because it is funded out of the Federal Reserve’s earnings and the Fed is currently running a deficit. Paxton’s office wrote that the: argument thus rests on the flawed premise […]
Author Archives: Jeff Sovern
Remember how the National Arbitration Forum, also known as NAF, arbitrated disputes involving an affiliated debt collector? Well, the CFPB has banned another arbitration service provider, Ejudicate from consumer arbitrations for a variety of reasons, including that Ejudicate heard matters brought by a party with whom it had a financial relationship, Prehired Recruiting. The CFPB […]
Here. The article is Silence as Consumer Consent: Global Regulation of Negative Option Contracts, forthcoming in the American University Law Review.
My latest op-ed, in the American Banker (behind paywall but available on Lexis). An excerpt: Polls show that the CFPB is extremely popular, even among Republican voters. So why are Republican politicians so quick to attack it? One answer is that the politicians believe that the free market provides better consumer protection than the government. […]
Here’s the announcement, which can also be found at Two Year Consumer Law Fellowship – NACA (consumeradvocates.org) NACA Consumer Law 2-Year Fellowship Program Jumpstart Your Career in Consumer Law: Be a NACA Inaugural Fellow and Make a Real Impact from Day One! This unique two-year fellowship offers students about to graduate law school the opportunity […]
Imran Rahman-Jones has the story in the BBC here. A family’s 12-year old ordered pizza on Uber Eats and that cost the parents the ability to go to court when the Uber they were riding in crashed, causing spinal fractures and other terrible injuries.
MarketWatch has a story here and the American Banker’s Pola Rocha and Kevin Wack take a deeper dive here (behind paywall but also available on Lexis). Former President Trump describes the cap as temporary. It looks like an attempt to pander to voters with credit card debt. It is also hard to reconcile with the fact […]
Tanya J. Monestier of Buffalo has written Amazon’s Dirty Little Secret, 69 Villanova Law Review 521 (2024). Here’s the abstract: You need new earbuds because one of yours just went missing. You log onto Amazon and scroll through the endless array of options. You finally select a pair “Sold by” Amazon and click “Buy Now.” […]
Here, at the Poverty Law Center. Here’s an excerpt (footnote omitted): * * * I am increasingly worried about where we are headed today. After decades of more and more and more lending, the American people now have a significant debt burden. Yet there is no shortage of venture capital, private equity, and other pools […]
Michael Z. Green of Texas A&M has written Expanding the Ban on Forced Arbitration to Race Claims, 72 Kansas Law Review 455 (2024). Here’s the abstract: When Congress passed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act (“EFASASHA”) in March 2022, it signaled a major retreat from the Supreme Court’s broad enforcement […]