That quote appears in an article by Polo Rocha in the American Banker headlined After loss at Supreme Court, payday lenders vow to keep fighting CFPB (behind paywall but available on Lexis). As the article explains “The CFPB rule, which has never taken effect, would prohibit payday lenders from making another attempt after a payment fails […]
Author Archives: Jeff Sovern
Regular readers of the blog will recall seeing a draft of my survey questions for consumer law professors. Attendees at the Teaching Consumer Law conference answered the final survey questions, but I would also love to receive responses from those who could not attend the conference and who have either taught consumer law or hope […]
Bloomberg’s Evan Weinberger has the story, as well as a link to the opinion, here. (Behind a paywall.) Addendum from Allison: The order granting an injunction is here. CNBC’s story is here.
Junk fees are likely to feature in the election this year, so for that reason alone, it would be useful to know what they are. Sometimes they seem to be defined by examples; you can find such a list of examples (as well as a definition that strikes me as underinclusive) here. Because the very […]
Recently someone texted me a picture of a product. When I pulled it up on the seller’s website, the displayed price was twice the price listed in the texted picture. And here’s a piece that may address that discrepancy: Haggai Porat of Harvard and the Tel Aviv University School of Economics has written Algorithmic Personalized […]
At the House Financial Services Committee April 16, 2024 hearing titled Agency Audit: Reviewing CFPB Financial Reporting & Transparency, Professor Christopher Peterson of Utah, in response to Ranking Member Maxine Waters’ question about why some members of Congress would oppose the CFPB late fee regulation: “I don’t know why you are going to bat for these […]
If the Supreme Court rules in the CFSA case that the CFPB’s funding is unconstitutional, Congress might fund the Bureau via annual appropriations. I wondered what that would mean. The FTC, another consumer protection agency, offers a clue. Now the agencies are not identical; the FTC has antitrust responsibilities and while the two agencies have […]
I plan to survey participants in the Teaching Consumer Law Conference, to be held May 17-18 in Santa Fe, about various matters, and then present the results at the conference. I’ve posted below multiple-choice questions I am thinking about asking. I’m also hoping to follow each question with an invitation to say more. Are there […]
This looks like important research bearing on the issue of junk fees, among other things. From the Bureau’s newsroom: Today, the Consumer Financial Protection Bureau (CFPB) issued a new report that suggests consumers tend to pay more for products that have more complex pricing structures. The report is based on experiments with multiple rounds of […]
Neil L. Sobol of Texas A&M has written Consumer Law for Gen Z Law Students, 66 Arizona Law Review (2024). Here’s the abstract: Whether they are consumers, representing consumers, or advising clients dealing with consumers, law school graduates will inevitably confront numerous consumer law issues. Moreover, most students entering law school are members of Generation Z and […]