That's the name of this new report Public Citizen. Here's Public Citizen's description of the report: A decade after reaching their peak, the quantity and cumulative value of medical malpractice payments made on behalf of doctors were at their lowest level on record in 2012, according to a new Public Citizen analyzing data from the […]
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The Washington Post reports today: Traders at Bank of America willfully misled investors about the quality of the residential mortgages tucked into the securities the bank sold at the start of the financial crisis, according to separate lawsuits filed Tuesday by the Justice Department and the Securities and Exchange Commission. . . . Justice claims […]
Banks don't like to offer 30-year mortages unless someone else is left holding the bag if the homeowner can't pay. That's just too long a period to depend on repayment and market stability. But a 30-year payback period, all other things equal, helps many non-wealthy consumers buy homes. Banks will make 30-year loans if the […]
That's the name of this lengthy piece by Paul Kiel of ProPublica. It focuses on an effort in Missouri to cap the rates on payday loans. Here's a short excerpt: Outrage over payday loans, which trap millions of Americans in debt and are the best-known type of high-cost loans, has led to dozens of state […]
by Brian Wolfman Last week, I posted on Greenberg v. Proctor & Gamble, where the 6th circuit threw out a class-action settlement on the ground that (1) it provided virtually nothing of value to the class members while the named representatives got significant "incentive" payments ($1,000 times the number of their diaper-using kids), and the […]
by Brian Wolfman Today, in Greenberg v. Proctor & Gamble, by a 2-1 vote, the 6th circuit threw out a class-action settlement on the ground that (1) it provided virtually nothing of value to the class members while the named representatives got significant "incentive" payments ($1,000 times the number of their diaper-using kids), and the […]
I posted earlier on Law School Transparency's new program in which it will provide a "certification" to law schools that meet the ABA's standards and other "best practices" for disclosure of their graduates' employment data. For criticism of the program, see these posts from Brian Leiter, using the term "shakedown," and Stephen Diamond, describing the […]
Jeff Gelles has the story here. Maybe it's just as well that Sovereign Bank is changing its name to Santander; I wouldn't want to be confused with them.
It's not a secret that the market for law school graduates is not nearly as strong as it used to be. Nine months after graduation, the majority of the graduates of a startling number of law schools does not have full-time employment that requires a J.D. degree. In this market, concerns have been raised about […]