The CFPB has released a report on financial exploitation of the elderly by people ranging from offshore scammers to family members. The report compiles information from Suspicious Activity Reports submitted by banks, credit unions, casinos, and other financial services providers. The 180,000 elder financial exploitation SARs reviewed for the report were submitted from 2013 to […]
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The Federal Trade Commission announced its first case challenging a marketer’s use of fake paid reviews on an independent retail website. In a settlement announced at the same time, Cure Encapsulations and its owner resolved allegations that they made false and unsubstantiated claims for their garcinia cambogia weight-loss supplement and that they paid a third-party […]
The Supreme Court has granted review in Rotkiskie v. Klemm. The question presented in the 8-page (!) petition for a writ of certiorari is whether the “discovery rule” applies to toll the one (1) year statute of limitations under the Fair Debt Collection Practices Act (FDCPA), 15 U.S.C. §§ 1692, et seq., as the Fourth […]
According to a report issued by the Federal Trade Commission last week, between July 1, 2017 and June 30, 2018, the agency’s law enforcement actions yielded more than $2.3 billion in refunds to defrauded consumers, including $122 million mailed directly by the FTC to 2.2 million people. The report is here.
That's the name of this story by Elizabeth Dwoskin. Here's an excerpt: Last May, officials in Midlothian, Texas, a city near Dallas, approved more than $10 million in tax breaks for a huge, mysterious new development across from a shuttered Toys R Us warehouse. … The developer, which incorporated with the state four months earlier, went […]
Law profs Charlie Silver, David Hyman, and Bernard Black have published Fictions and Facts: Medical Malpractice Litigation, Physician Supply, and Health Care Spending in Texas Before and after HB 4. Note the study's findings in the abstract below: This article, written for a symposium issue of the Texas Tech Law Review, summarizes our research on […]
That's the topic of a bluntly-titled article — Taxing Rich Dead People to Tackle Student Loan Debt — by law prof Victoria J. Haneman. The abstract follows. (Note in particular the stats in the second paragraph of the abstract concerning Millennials' financial situation.) Once upon a time, there was a generation of indentured servants called […]
Scammers who use love to target consumers can take both an emotional and a financial toll on their victims. New complaint data from the Federal Trade Commission shows romance scams generated more reported losses than any other consumer fraud type reported to the agency in 2018. The FTC reports that romance scammers "often find their […]
Seven million Americans are at least 90 days behind on payments for automobile loans, according to a study by the Federal Reserve Bank of New York. According to the study, more people are now delinquent or late on loan payments than at the height of the 2008 financial crisis. A blog post by the study's […]
A New York Times editorial today addresses the proposal by the Consumer Financial protection Bureau to gut the Bureau's own rule protecting low-income borrowers from predatory practices of payday lenders. As the NYT put it, "The federal Consumer Financial Protection Bureau betrayed financially vulnerable Americans last week by proposing to gut rules conceived during the […]