So says Time in Why Banks Love Debit Cards Again. The report begins as follows: Debit cards were supposed to be toast. The industry started writing their obituary when financial reform targeted overdraft fees and interchange or “swipe” fees, which had made debit cards extremely lucrative for banks. So why is it that banks are […]
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That's the name of this article by Joseph Seiner. Seiner sets out what he says are the best ways for discrimination victims to vindicate their rights in the wake of the Supreme Court's class-action decision in Wal-Mart v. Dukes. (The problems for plaintiffs created by Wal-Mart arguably have been exacerbated by the Supreme Court's decision […]
That's the title of this article by Ronald Mann. Here's the abstract: This essay compares the results from a survey administered to payday loan borrowers at the time of their loans to subsequent borrowing and repayment behavior. It thus presents the first direct evidence of the accuracy of payday loan borrowers’ understanding of how the […]
by Brian Wolfman Last September, the Whirlpool Corporation filed a cert petition in Whirlpool Corp. v. Glazer. The case has been on hold pending the Supreme Court's decision in Comcast Corp. v. Behrend, which was issued this past Wednesday. (Go here and here for our posts on the Comcast ruling.) Now that Comcast has come down, […]
From a CFPB press release this morning: Today the Consumer Financial Protection Bureau (CFPB) goes live with the nation’s largest public database of federal consumer financial complaints, opening up to consumers across the country information on more than 90,000 individual complaints on financial products and services. . . . Today’s launch expands the Consumer Complaint […]
By Stephen Gardner I echo what Alan White said, but have thoughts of my own. The first of which is: Oh lordy. This case may be the high-(low-?)water mark for Justice Scalia's willingness to manipulate reality and the Court's jurisdiction to get the result he wants. As the dissent (quoted in part below) sets out […]
This analysis by Jia Yang explains that large U.S. companies with operations abroad pay far less in U.S. corporate income taxes than they used to. For instance, Yang writes, in 1969, corporate giant Procter and Gamble (based in Cincinnati) paid 40% of its total profits in U.S. corporate income taxes, while today it pays about […]
As explained in this article by Matthai Kuruvila, Oakland residents who use the debit function of the city's long-awaited municipal identification card will be charged much more in fees than they would pay if they chose a comparable prepaid card from a store, according to Consumers Union, the advocacy arm of Consumer Reports. The organization, […]
Yesterday's decision from the Fourth Circuit in McCauley v. Home Loan Investment Bank cabins the preemptive scope of the Home Owners' Loan Act and associated regulations to pre-Dodd Frank consumer claims (Dodd-Frank has changed the legal landscape going forward, but the old regulations still govern a number of cases arising out of the Great Recession). […]
The Obama Administration has said that the Affordable Care Act will bring down health care costs. Next year, much of the Act will go into full effect. But private health insurers are apparently warning brokers that premiums will go up significantly next year because of the Act. Read about it here.