by Jeff Sovern Over at the ContractsProf Blog. The bill would provide a short form and a diagram for Terms of Service. But without consumer testing, who knows if consumers would pay attention even to the short form or diagram.
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The Consumer Financial Protection Bureau will be examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students. The agency explained: "The CFPB is issuing an update to its exam procedures including a new section on institutional student loans. As the CFPB begins its supervision, the exam procedures inform […]
The National Consumer Law Center is hiring for a “Public Interest Consumer Attorney to Lead NCLC’s Student Loan Project.” So, if you want to work for this great organization on that project, learn more here.
by Paul Alan Levy Late last year, Harrison Greenbaum, a New York comedian and magician, included Christopher Nicholas Sarantakos, better known in the magician trade as Criss Angel, who is, apparently, a very well known magic act, in an annual satirical review that he offers of major figures in the magic trade. A particular point […]
Read Board Diversity Matters: An Empirical Assessment of Community Lending at Federal Reserve by profs Brian Feinstein, Peter Conti-Brown, and Kaleb Nygaard. Here is the abstract: This working paper shows that the increased presence of minority directors on the twelve regional Federal Reserve Banks — the quasi-governmental entities responsible for evaluating many commercial banks’ lending […]
CNBC reports that Navient, one of the largest student loan servicers, will cancel $1.7 billion in private student loans under a settlement with 39 states. The settlement, announced yesterday, resulted from accusations the lender gave out loans to millions of borrowers who would be unlikely to be able to repay them. The article is here.
Here's the first paragraph of yesterday's decision in Ngo v. BMW North America In 2012, Kim Ngo bought a new BMW 535i sedan from Peter Pan Motors, Inc, a car dealership. Because the dealership financed Ngo’s purchase, they entered into a purchase agreement which contained an arbitration clause. As a result of alleged defects with […]
Bank of America has announced that, in February, it will cut the fees it charges customers for overdrawing their checking accounts and, starting in May, will eliminate non-sufficient funds fees. CNN reports that other banks, such as Capitol One and Ally, have also cut fees. The federal government has been encouraging banks to waive these […]
In December, the Supreme Court granted the petition in Viking River Cruises v. Moriana, which poses the question whether the Federal Arbitration Act requires state courts to enforce a waiver of a statutory right of action to collect penalties on behalf of a state, in violation of neutral principles of state law prohibiting such a […]
The Federal Trade Commission today issued its biennial report to Congress on the National Do Not Call Registry. The report notes that more than 244 million consumers have placed their telephone numbers on the Registry. As reported in the FTC's November 2021 National Do Not Call Registry Data Book, the agency received more than five […]