George Loewenstein of Carnegie Mellon University – Department of Social and Decision Sciences ("CMU"), Cass R. Sunstein of Harvard Law School, and Russell Golman, also of CMU, have written Disclosure: Psychology Changes Everything. Here's the abstract: We review literature examining the effects of laws and regulations that require public disclosure of information. These requirements are […]
Category Archives: Uncategorized
The Consumer Financial Protection Bureau (CFPB) has just launched this website filled with data provided by financial institutions under the Home Mortgage Disclosure Act (HMDA), which requires those institutions to report and publicly disclose information about mortgages. HMDA became law in 1975 and is implemented through Regulation C. In 2009, the Dodd-Frank financial reform legislation […]
After the Supreme Court's rulings in American Express v. Italian Colors and AT&T Mobility v. Concepcion, why wouldn't an employer, whenever possible, force its employees into individual arbitrations over employment disputes through adhesive arbitration clauses? At least, those rulings generally should allow private, non-unionized employers to avoid class dispute resolution (whether in court or before […]
by Brian Wolfman As we've reported in the past (for instance, here), states with governors and/or legislatures who don't like the Affordable Care Act (ACA) have threatened not to participate in the Act's Medicaid expansion (which the Supreme Court said could not be forced on the states by Congress under the Constitution's "Spending Clause"). As […]
That's the name of this article by law professor Frank Pasquale. Here is the abstract: A bad credit score may cost a borrower tens of thousands of dollars, but it is not clear how it is calculated. The formula is a trade secret, immune from scrutiny. Lenders are moving beyond scoring to “credit analytics,” which […]
In its June 20 decision in American Express Co. v. Italian Colors Restaurant, the Supreme Court held that the Federal Arbitration Act requires enforcement of a class-action ban in an arbitration clause even if forcing the plaintiff to aribtrate individually would make it economically impossible for the plaintiff to vindicate its rights under federal law (in […]
In Joffe v. Google, Inc., the Ninth Circuit held this yesterday: In the course of capturing its Street View photographs, Google collected data from unencrypted Wi-Fi networks. Google publicly apologized, but plaintiffs brought suit under federal and state law, including the Wiretap Act, 18 U.S.C. § 2511. Google argues that its data collection did not violate […]
CFPB director Richard Cordray sat down with the Washington Post for this Q&A on what's next for the agency.
Read the third and final part of the Washington Post's investigative report on the District of Columbia's tax lien program that has caused poor people to lose their homes. Part three discusses how "tax officials have made hundreds of mistakes in recent years by counting property owners as delinquent even after they paid their taxes, […]
That's the name of this article by Ellen Goodman concerning disclosure requirements and the First Amendment. Here is abstract: The ability of government to “nudge” with information mandates, or merely to inform consumers of risks, is circumscribed by First Amendment interests that have been poorly articulated. New graphic cigarette warning labels supplied courts with the […]