Here, in the Consumer Finance Monitor. Alan also notes that the rule can be blocked by congressional invocation of the Congressional Review Act, litigation, or, if Cordray does indeed step down, by a new Trump-appointed director.
Author Archives: Jeff Sovern
by Jeff Sovern Our consumer law casebook strives to present a balanced approach, so I am always on the lookout for writings that present debt collectors favorably. In that regard, The Economist recently published In praise of America’s third-party debt collectors. Here's an excerpt: A provocative new paper by Julia Fonseca, of Princeton University, and Katherine Strair and Basit Zafar, […]
The headline reads Trump to Cordray: You’re Not Fired. It argues that the Treasury Report has made a strong case for firing the CFPB director.
So Law360 reports here. The jury apparently found that Transunion did not follow reasonable procedures to assure maximum possible accuracy, as required under FCRA 1681e, when it reported that consumers' names matched those on a government watch list for terrorists and criminals.
by Jeff Sovern Here. Disclosure: I was one of the podcast speakers.
by Jeff Sovern Yesterday, SCOTUS decided the Bristol-Meyers case, limiting the power of state courts to exercise specific personal jurisdiction over out-of-state defendants in cases brought by out-of-state plaintiffs. State courts can still hear cases, including nationwide class actions, through their general jurisdiction over defendants, as long as the defendant is essentially at home in […]
Brooklyn's David Reiss has written an op-ed for The Hill, Americans are better off with consumer protection in place. Excerpt: [T]he [Treasury] report argues that the bureau’s jurisdiction overlaps with that of other regulators. That is a red herring. The fact is that abusive lending practices were rampant in the years leading up to the […]
Here. It might even happen by the end of this year. Excerpt: "Creditors should be responsible since they are our customers," said Dong Hong, vice president and senior counsel at the Consumer Bankers Association. "For the most part, we're fine with the disclosure regime the CFPB is creating.