By guest blogger Peter A. Holland In a time of limited resources, perhaps a new model is emerging of joint CFPB/State Attorney General enforcement actions. The recent joint action by the Bureau and Maryland Attorney General Brian Frosh provides a nice case study. Recently, Maryland Attorney General Brian Frosh and the Consumer Financial Protection Bureau […]
Category Archives: Other Lending, Debt, and Credit Issues
by Jeff Sovern Congress enacted the Dodd-Frank Act in 2010. Since then, law school applications have plummeted by more than 40,000. Therefore, the Dodd-Frank Act must have killed law school applications. At least, that's the conclusion I came to after reading Todd Zywicki's blog post, New study finds that Dodd-Frank has promoted industry consolidation and […]
Here. New School professor Lisa Servon, based on her forthcoming book.
Nathalie Martin of New Mexico has written Public Opinion and the Limits of State Law: The Case for a Federal Usury Cap, 34 North Illinois University Law Review (2014). Here's the abstract: This Article calls on Congress to set a federal interest rate cap of 36%, applicable to all loans. Part II of this Article briefly describes […]
Catherine Lee Wilson of Nebraska has written Making Prepaid Safe for Consumers: A Framework for Providing Deposit Insurance and Regulation E Protections, Forthcoming in the University of Pennsylvania Journal of Business Law. Here's the abstract: General purpose reloadable prepaid cards are part of a larger trend toward a cashless society. This market offers significant benefits […]
by Jeff Sovern There's been a lot of discussion recently about whether the Post Office should offer banking services. The idea is that it could serve the unbanked, and that its many existing branches would cover the entire country (Disclosure: one of my brothers works for the Postal Service, though we haven't discussed this idea). For […]
Sandeep Dhameja, Katy R. Jacob and Richard D. Porter, all of the Federal Reserve Bank of Chicago, have written Clarifying Liability for Twenty-First-Century Payment Fraud, 37 Economic Perspectives (2013). Here's the abstract: This article examines the governance structure of retail payments in the United States, provides an overview of payment fraud, and discusses in depth […]
Policy solutions to help consumers whose credit histories were negatively effected by the Great Recession and the foreclosure crisis.
Yesterday I blogged about a Times report on medical debt. Today the Times published an editorial, Alarming Abuses of Medical Credit Cards, as well as some letters on the matter.