It's complicated, but worth reading about in this piece by Michael Hiltzik.
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It's been a good week for high-profile media attention to some of the most important issues facing consumers. First, as we've noted in several posts over the past few days, the NYT published a three-part deep dive on the abuses of forced arbitration. And this week's episode of CBS's "The Good Wife" featured a for-profit […]
The New York Times published today the third and final part of its on forced arbitration. This installment, entitled "In Religious Arbitration, Scripture Is the Rule of Law," focuses on religious organizations' use of mandatory arbitration clauses to submit to "religious arbitration." For generations, religious tribunals have been used in the United States to settle […]
The New York Times headline "Metrojet Rules Out Technical Failure or Human Error for Crash in Sinai Peninsula" captures the gist of the article about the latest announcement from the Russian airline company whose plane crashed in Egypt over the weekend but doesn't flag the most important lesson for safety regulators. Notwithstanding the company's position, […]
The U.S. Supreme Court will hear this morning in Spokeo v. Robins, a case with important implications for a range of consumer protection statutes. The question before the Court, as framed by the company, is "Whether Congress may confer Article III standing upon a plaintiff who suffers no concrete harm, and who therefore could not […]
by Paul Alan Levy On the eve of a Senate Commerce Committee hearing on the Senate version of the Issa-Swalwell bill, (the latter is endorsed by Public Citizen) that would ban non-disparagement clauses in consumer contracts, the United States District Court for the Middle District of Florida has become the first federal court to recognize […]
The Consumer Financial Protection Bureau had a busy week. In addition to the actions described in the two posts below, yesterday, the CFPB announced action against the two largest providers of background screening reports to employers for failing to verify the accuracy of reports sold to employers about job applicants. [T]he Consumer Financial Protection Bureau […]
The Consumer Financial Protection Bureau has filed a complaint seeking to halt a nationwide student financial aid scam that allegedly ripped off tens of thousands of students and families across the country by illegally charging millions of dollars in fees for sham financial services. The complaint names as defendants Student Financial Resource Center and College […]
In September 2014, the Consumer Financial Protection Bureau sued Corinthian Colleges, Inc., alleging that Corinthian engaged in a predatory lending scheme. This week, a federal court entered a final default judgment against Corinthian. The CFPB's press release explains: The Bureau’s lawsuit against Corinthian alleged that the company lured tens of thousands of students into taking […]
We told you yesterday about a story documenting the source of many regulatory delays: OIRA. OIRA is a component of the Office of Management and Budget (OMB). OMB now says (in a draft report) that regulations are cost-effective and produce billions of dollars in net benefits. As the Coalition for Sensible Safeguards (of which Public […]