Politico reports: Every quarter, the Consumer Financial Protection Bureau formally requests its operating funds from the Federal Reserve. Last quarter, former director Richard Cordray asked for $217.1 million. Cordray, an appointee of President Barack Obama, needed just $86.6 million the quarter before that. And yesterday, President Donald Trump’s acting CFPB director, Mick Mulvaney, sent his […]
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Law prof Ted Afield has written Compromising Student Loans, which explains why, in Afield's view, our student-loan programs do not properly assess a borrower's ability to pay back the loan. He also proposes a repayment program that he thinks would help borrowers who presently are unable to pay. Here is the abstract: Access to higher education […]
Equifax was the subject of more complaints to the Consumer Financial Protection Bureau than any other financial services company in all but one state in 2017, according to an analysis of agency data published Thursday. In every state but North Dakota, more residents complained to the CFPB about the credit reporting company than any other firm. […]
by Jeff Sovern A friend forwarded me the two images below. My friend, a prior H&R Block customer, received the 2017 software update for $24.95 while his son, who has not used the software in the past, was offered the identical software for $9.95. This type of price discrimination always makes me wonder about whether […]
And would correcting these inefficiencies reduce income and wealth inequality? Read Consumer Law As Tax Alternative by Rory Van Loo to try to find out. Here's the abstract: The law and economics paradigm has traditionally emphasized tax and transfer as the best way to achieve distributional goals. This Article explores an alternative. Well-designed consumer laws—defined as the […]
That's the title of this opinion piece in the American Banker by William D. Gunter, former U.S. congressman and a former Florida state treasurer and insurance commissioner.
by Paul Alan Levy After the Freehold Animal Hospital botched the neutering of a consumer’s dog, requiring the consumer to pay thousands of dollars for corrective surgery by a different hospital, the animal hospital agreed to refund the cost of its services as well as covering the expense of the corrective surgery, but only if […]
Senator Elizabeth Warren on Friday sent a letter addressed to Mick Mulvaney, as Director of the Office of Management and Budget, and Leandra English, as Acting Director of the Consumer Financial Protection Bureau, expressing concern about Mulvaney's decision to freeze the collection of consumer data by the CFPB. On December 4th, citing concerns by the […]
The Hill reports that Nebraska is the first Republican-controlled state to launch its own attempt to save net neutrality rules. On Friday, state Sen. Adam Morfeld (D) introduced legislation in the state legislature to enshrine net neutrality regulations in law on the state level. Morfeld’s bill would keep broadband providers like AT&T and Comcast from […]
The Hill has this short article about states efforts to adopt net neutrality rules in light of the FCC's decision to drop its rule.