Patricia A. McCoy of Connecticut has written Barriers to Foreclosure Prevention During the Financial Crisis, forthcoming in 55 Arizona Law Review. Here's the abstract: The number of modifications to distressed residential loans has been subpar to date compared to the number of foreclosures. This raises concerns about the presence of artificial barriers to loan modifications […]
Category Archives: Consumer Law Scholarship
Dalie Jimenez of Connecticut has written Illegality in Consumer Debt Contracts and What to Do About it. Here's the abstract: Many of the contracts for the sale of consumer debts that are publically available contain “quitclaim” language disclaiming all warranties about the underlying debts sold or the information transferred, generally referring to the debts as […]
Eric A. Zacks of Wayne State has written Shame, Regret, and Contract Design, forthcoming in Marquette Law Review. Here is the abstract: This Article examines whether contract design can influence the post-formation behavior of the party that did not prepare the contract. Repeat players that utilize the same contract for many transactions, as is the […]
Arthur Acoca of Penn's The Wharton School, Ren S. Essene of the Consumer Financial Protection Bureau, Min Hwang of George Washington's Department of Finance, Jacob Liebschutz of Harvard's Government Department, Patricia A. McCoy of Connecticut, Jessica Russell of the Consumer Financial Protection Bureau, and Susan M. Wachter, also of Wharton have written The Performance of […]
David Adam Friedman of Willamette has written Micropaternalism, forthcoming in the Tulane Law Review. Here is the abstract: In this Article, I have created a theory of “micropaternalism” to capture the essence of a unique regulatory dynamic. As I define it, micropaternalism describes when policymakers paternalistically regulate a narrow area, thereby provoking public debate […]
Joel Langdon of Emory has writen The Importance of a Promise: Underwater Mortgages and a Municipal Rescue Attempt Through Eminent Domain, forthcoming in 45 Urb. L. (Summer 2013). Here's the abstract: Millions of Americans purchased real estate during the housing bubble of the mid 2000s, when prices reflected a constant upward trend, and real estate […]
M. Todd Henderson of Chicago has written Self-Regulation for the Mortgage Industry. Here's the abstract: This Article proposes an alternative to direct government regulation of mortgage brokers: self-regulation of the mortgage industry that mimics the arguably successful self-regulation of the securities industry that has occurred over the past two centuries. Although not without its problems, […]
Dustin A. Zacks of King, Nieves & Zacks PLLC has written Robo-Litigation, 60 Cleveland State Law Review 867 (2013). Here's the abstract: The recent housing crisis increased demand for attorneys to process foreclosures through state courts. This increase in demand was coupled with a desire for the fastest and cheapest legal services available. As a […]
by Jeff Sovern Yesterday, I was on a panel at the Annual Meeting of the American Council on Consumer Interests, along with Dr. Yilan Xu, a professor at the University of Illinois in agricultural and consumer economics. Dr. Xu's talk concerned a natural experiment in Cleveland, Ohio. Cleveland had enacted an anti-predatory lending ordinance which was […]
The prolific Chris Jay Hoofnagle of Berkeley and Jan Whittington of the Department of Urban Design and Planning, University of Washington have written The Price of 'Free': Accounting for the Cost of the Internet's Most Popular Price, forthcoming in 61 UCLA Law Review (2014). Here's the abstract: Offers of “free” services abound on the internet. […]