The Consumer Financial Protection Board released today a report outlining widespread servicing failures reported by both federal and private student loan borrowers. According to the CFPB press release: Consumers describe companies using a wide range of sloppy, patchwork practices that can create obstacles to repayment, raise costs, cause distress, and contribute to driving struggling borrowers […]
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The New York Times has an estimate: Unlike the ignition defect in General Motors vehicles that caused at least 124 people to die in car crashes, Volkswagen pollution is harder to link to individual deaths. But it is clear to public health researchers that the air pollutants the cars illegally emitted damage health, and they […]
The FTC announced yesterday that it sued weight-loss company Roca Labs in federal court in Florida for making unsubstantiated claims about its products then trying to silence critics using a non-disparagement clause followed up by threats (a subject we've covered numerous times on this blog, see, e.g., here and here). The FTC's press statement explains: In a […]
You might assume, based on our prior discussions of lawsuits over modern day debtors' prison practices in Georgia and Missouri (see here and here) that the practice of jailing people who can't pay court fines and fees is confined to the South. An ACLU report last week discussing practices in New Hampshire shows otherwise. Among […]
A timely counterweight to the troubling political movement to roll back regulations that protect public safety, the American Museum of Tort Law opened in Winsted, Connecticut this past weekend. As the NYT describes, The museum aims to describe the evolution of the law regarding negligence and liability, and it features some of the most groundbreaking […]
The BBC reported Wednesday that "An opinion issued by the European Court of Justice says that current data-sharing rules between the 28-nation bloc and the US are 'invalid.' The decision could affect other tech firms' abilities to send Europeans' information to US data centres." Although the ruling is not final, the BBC explains that the ruling […]
From a CFPB press release today: Today, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank for discriminatory redlining practices that denied residents in majority-Black-and-Hispanic neighborhoods fair access to mortgage loans. The complaint filed by the CFPB and DOJ alleges that Hudson City […]
The Consumer Financial Protection Board on Tuesday released its latest monthly consumer complaints snapshot, which highlights mortgage complaints. According to the report, consumers continue to face problems with mortgage servicing, particularly during certain circumstances, such as when they apply for a loan modification to avoid foreclosure. The CFPB report finds the consumers continue to experience […]
A discouraging article from the New York Times: Long before Volkswagen admitted to cheating on emissions tests for millions of cars worldwide, the automobile industry, Volkswagen included, had a well-known record of sidestepping regulation and even duping regulators. For decades, car companies found ways to rig mileage and emissions testing data. In Europe, some automakers […]
The New York Times reports on a study that found a correlation between generous company stock options for executives and the incidence of serious product recalls of the companies products. The study, “Throwing Caution to the Wind: The Effect of C.E.O. Stock Option Pay on the Incidence of Product Safety Problems,” concluded that “C.E.O. option […]