In press releases yesterday, here and here, the Federal Trade Commission and the Consumer Financial Protection Bureau announced that they are teaming up to fight deceptive mortgage advertising. The FTC sent warning letters to 20 real estate agents, home builders, and lead generators, urging them to review their advertisements for compliance with the Mortgage Acts […]
Category Archives: Uncategorized
Just in time for the holidays from Consumer Reports, which has surveyed corporate policies on consumer refunds, fees, etc., and described what it thinks are the 10 naughtiest and the 10 nicest.
By Brian Wolfman I'm writing about U.S. Airways v. McCutchen, an ERISA case set for argument in the U.S. Supreme Court on November 27. The case's outcome may affect the viability of some personal-injury suits. When people are harmed by consumer products, doctors' negligence, or in car crashes, for instance, they often incur medical expenses. […]
Does BP's settlement of criminal charges with the federal government do enough to deter and punish? Law professors talk about that question in this video, with one calling it "a drop in the bucket" given BP's deep pockets, the extent of the wrong doing, and the death and destruction caused by the BP spill in the […]
As many of our readers are aware, the Federal Arbitration Act (FAA) makes it difficult for consumers to enforce their rights in court when the standard form contracts that govern their employment relationships or their consumer purchases contain arbitration clauses. The Supreme Court has interpreted the FAA broadly. Does the FAA apply in state courts […]
A recent post by Jeff Sovern discusses a Department of Justice Report indicating that identity theft is on the rise, and the amount of loss suffered as a result of identity theft is increasing. These are alarming statistics. But a few points should be mentioned before we begin to discuss how to reduce the incidence […]
As the LA Times explains, "the Federal Housing Administration, which has played a crucial role in stabilizing the housing market, said it ended September with $16.3 billion in projected losses — a possible prelude to a taxpayer bailout. The precarious financial situation could force the FHA, which has been self-funded through mortgage insurance premiums since […]
On the New Shopping List: Milk, Bread, Eggs and a Mortgage. Costco offers mortgages, Home Depot provides loans, and Wal-Mart prepaid cards.
by Jeff Sovern President Obama has done more for consumer protection than any president in a generation. His accomplishments include signing the Dodd-Frank Act, which created the Consumer Financial Protection Bureau, anti-predatory lending laws, and limited the power of traditionally pro-bank agencies like the OCC to preempt state laws protective of consumers; signing the Credit CARD […]