The State of New York prohibits charging more than 25% interest. You'd think that would be plenty of profit for any lender, but Saliha Madden's creditors (Midland Funding and a sister entity) wanted more. When they sought to collect a higher rate of interest from her, she sued under state and federal law and sought […]
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Unwanted calls and texts are the number one consumer complaint to the FCC. Now, the FCC has announced a "proposal to protect Americans from unwanted robocalls, spam text messages, and telemarketing calls. The proposal addresses two dozen petitions that sought clarity on how the Commission enforces the Telephone Consumer Protection Act." The FCC says that […]
A federal district court in New York has dismissed a lawsuit filed by a group of for-profit colleges challenging regulations issued by the Department of Education to limit student debt. The Department adopted the “Gainful Employment” rule in 2014 to address overwhelming evidence that some postsecondary career training programs, particularly at for-profit institutions, were failing […]
Read this Paul Krugman column in the New York Times from this past weekend. He exposes how the defenses of the TPP offered by its supporters don't answer the charges made against it by its opponents: The administration’s main analytical defense of the trade deal came earlier this month, in a report from the Council […]
Today, Professor Rebecca Tushnet of Georgetown Law (and of 43(B)log fame), represented by Public Citizen, filed motions to intervene and unseal court documents in a trademark dispute in which two companies claim that Amazon infringed their trademark by advertising the companies' product (a dietary supplement called SeroVital) even when the product wasn't available on Amazon […]
The Court of Appeals for the Fourth Circuit has issued an important decision at the intersection of First Amendment and trademark law, marking the second time in two days that free speech has triumphed over expansive intellectual property claims. On Monday it was the Ninth Circuit’s en banc decision in Garcia v. Google, rejecting an […]
According to the Federal Trade Commission, federal courts in New York and Georgia, acting on an FTC motion, have temporarily halted three debt collection operations that the FTC alleges have violated federal law by threatening and deceiving consumers via text messages, emails, and phone calls. The FTC's press release explains: [T]he defendants used text messages, […]
Last week, a Missouri jury awarded about a quarter-million dollars in compensatory and $82 million in punitive damages to a woman who was hounded for over a year by debt collector Portfolio Recovery Associates for a $1100 debt that wasn’t hers. The problem, according to the plaintiff’s lawyer, is the debt collector tries to collect […]
"The magnitude of falsity, conservatively measured, is enormous," wrote U.S. District Judge Denise Cote of the Southern District of New York near the start of her a 361-page ruling in Federal Housing Finance Agency v. Nomura Holding America, decided last week after a four-week trial. The core question at issue in the case, in which […]
Credit reporting agencies Experian, Equifax and TransUnion have agreed to pay $6 million to resolve an investigation by the attorney generals of 31 states into customer disputes over errors in their credit reports, fraud and identity theft. The three companies agreed to limit their marketing, wait longer before adding medical debt to a credit record, […]