by Jeff Sovern Income inequality causes numerous problems for the United States, including lower economic growth. Probably the most widely-mentioned solution to income inequality is taxation, But Rory Van Loo of Boston University argues that consumer law also poses a potent weapon against income inequality in his paper, Consumer Law As Tax Alternative. One intriguing aspect […]
Author Archives: Jeff Sovern
by Jeff Sovern Yesterday I expressed doubt about whether it matters if the CFPB backs off on investigating Equifax. Now I'm wondering if I was wrong to do so. I hadn't given enough thought to the CFPB's supervisory responsibilities over collection bureaus. Vox has an article which reports: A CFPB spokesperson said in an email to […]
by Jeff Sovern The answer to the question is that I'm not sure it does. Brian reported earlier today that Reuters is saying that the CFPB has put its Equifax probe on ice. But Reuters also reports that Equifax says it is under investigation by every state AG, that the FTC is investigating, and that […]
Ann Fleming of Georgetown has written a book, City of Debtors: A Century of Fringe Finance. I'm pasting in a blurb below, but first, for those who want to know more about this subject but don't have time to read the book just now, here are some other options. Last fall, Ann wrote a WaPo op-ed about the […]
Dee Pridgen of Wyoming has written The Dynamic Duo of Consumer Protection: State and Private Enforcement of Unfair and Deceptive Trade Practices Laws, 81 Antitrust L.J. 911 (2017). Here's the abstract: This article focuses on the critical importance to consumer protection of the “dynamic duo” of state and private enforcement mechanisms provided in state unfair and deceptive […]
The decision is here. WSJ report here. Update: Law360 reports here.
by Jeff Sovern During the Obama administration, the Department of Education adopted a regulation obliging colleges and universities to disclose their contracts with banks governing marketing to students as well as how much the schools receive from the banks. The WSJ went through those disclosures and reported on their findings in an article, Banks Pay Big […]
by Jeff Sovern Ian McKendry has a report in the American Banker, Is Trump team moving to political middle in CFPB director search?, that mentions Iannicola, who served in the Treasury Department in the second Bush administration and is currently CEO of the Financial Literacy Group. Among their clients is the CFPB. The article also notes that another candidate, […]
Norman I. Silber of Hofstra has written Discovering that the Poor Pay More: Race Riots, Poverty, and the Rise of Consumer Law, 44 Ford.Urb.L.J. 1319 (2017). Here is the abstract: David Caplovitz is remembered primarily for his book The Poor Pay More and his writing about poor consumers. This article addresses why this work propelled the reconstruction […]
So Law360 reports. The nominees are Christine S. Wilson, Senior Vice President for Regulatory and International Affairs at Delta and Noah Joshua Phillips, chief counsel to Sen. John Cornyn, R-Texas.