by Jeff Sovern The president today issued an executive order creating a Task Force on Market Integrity and Consumer Fraud within the Department of Justice. It has a large number of members, including the CFPB director and chair of the FTC. Among Its functions are to : (a) provide guidance for the investigation and prosecution […]
Author Archives: Jeff Sovern
Leandra English has announced that she is leaving the CFPB next week in light of the nomination of a new director. Her attorney, CL&P blogger Deepak Gupta, has said that he will intends to file papers next week "to bring the litigation to a close."
Susan Block-Lieb of Fordham has written Cities as a Source of Consumers’ Financial Empowerment, 34 Emory Bankruptcy Developments J. 388 (2018). Here's the abstract: Although cities are a poor place to situate consumer protection regulation, especially “top down” efforts to “command and control” lending decisions, they are an especially good source of consumer “empowerment” initiatives. Consumer […]
by Jeff Sovern Here. Kavanaugh, of course, took the position in PHH that the CFPB is unconstitutional as currently structured. Whether other potential nominees would have felt differently if they had decided PHH is unknown.
by Jeff Sovern I don't often agree with J.W. Verret of George Mason, who formerly served as chief economist and counsel to Jeb Hensarling's House Financial Services Committee. But his warnings on CFPB director-nominee Kathy Kraninger deserve attention. Now he has written an op-ed for the National Review, Kathy Kraninger Is the Wrong Choice to Lead […]
Yan Zhang of the Office of the Comptroller of the Currency (OCC) has written Assessing Fair Lending Risks Using Race/Ethnicity Proxies, 64 Management Science (January 2018). Here is the abstract: Fair lending analysis of non-mortgage credit products often involves proxying for race/ethnicity since such information is not required to be reported. Using mortgage data, this paper […]
The issue is whether the FDCPA applies to non-judicial foreclosure proceedings. The case is Obduskey v. McCarthy & Holthus LLP. More from SCOTUSBlog here.
by Jeff Sovern When I surveyed consumer law professors about the content of their courses, I also asked them whether they read consumer contracts and mandated disclosures in their personal lives. Here is an excerpt, but the article has more: Not one professor reported always reading contracts or disclosures. In contrast, 57% said they rarely or […]
Here. Excerpt: Kraininger’s supporters have noted that she acquired considerable managerial experience as an associate director at the Office of Management and Budget and deputy assistant secretary at the Department of Homeland Security. That may help her with management issues, but it’s hard to see how it will help her make decisions about which cases to bring […]