Georgetown law prof Adam Levitin has penned this article in American Banker (and a similar piece for Credit Slips). (The American Banker version may be behind a paywall.) State usury laws generally are preempted by the National Bank Act when a loan is held by a national bank. But, as Levitin notes, "[o]nce the note leaves the hands […]
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The president of KidsandCars.org, Janette Fennell, explains: "Under the guise of 'reform,' a bill called the Regulatory Accountability Act (RAA) would add a maze of additional bureaucracy to the life-saving protections. Instead of making it easier to implement protections, the RAA is a recipe for more red tape and additional layers of bureaucracy in a […]
That is a big question — maybe the question — about aggregated litigation. (We would also want to know, among other things, whether aggregated litigation adequately compensates injured people.) Law prof Brian Fitzpatrick attempts to answer that question in his new article aptly titled Do Class Actions Deter Wrongdoing? Here is the abstract: I and other scholars have […]
A week ago, I posted this about the largest jury verdict to date against talcum powder makers — $417 million — awarded to a woman who alleged that Johnson & Johnson's talc-containing baby powder caused her ovarian cancer. You may also be interested in this article by Laura McGinley. The thrust of McGinley's piece is that while results […]
Here, at The Clearinghouse Blog. Excerpt (footnote omitted): Recently, one hears opponents of regulatory reform arguing that there is no need for regulatory reform because banks are making "record profits." The argument is quite puzzling, but we’ve heard it enough to think it deserved a quick response. Just for starters, step back and think […]
by Paul Alan Levy In a decision issued late Thursday morning, DC Superior Court Chief Judge Robert Morin said that he was ready to order DreamHost to comply with the federal prosecutors’ scaled-down search warrant, but enunciated strict procedural restrictions that he said were intended to reflect a balance between allowing the Government to pursue […]
Coming soon to a TV screen near you: An ad from the Chamber of Commerce exhorting viewers to tell their Senators to block the CFPB's arbitration rule so lawyers will stop bringing lawsuits over coffee. I kid you not. Never mind that the rule applies to rip-offs by banks, credit card companies, and other financial […]
The "Bargainista" columnist for the on-line news site TCPalm.com, a USA Today affiliate focusing on Florida's Treasure Coast, commonly covers subjects such as the availability of "mooncakes" at Denny's on eclipse day, the supply of pretzels at the Wawa convenience store chain, and special deals available on "holidays" like National Fajitas Day, National Bowling Day, National […]
As CFPB director Richard Cordray described it: Consumer financial protections are not confined within the 50 states. American Express discriminated against consumers in Puerto Rico and the U.S. territories by providing them with less-favorable financial products and services. They have ceased this practice and are making consumers whole. In particular, because they self-reported the problem and […]
by Paul Alan Levy Responding to an outpouring of popular outrage as well as legal filings (including one from Public Citizen as well as an amicus brief from Avaaz) showing that the First Amendment protects the right to read anonymously and can be used to limit the enforcement of criminal discovery demands seeking to identify […]