by Jeff Sovern The banking industry opposed the Credit Card Act of 2009 on the ground that it would reduce the availability of credit. We heard the same objection to 2010's Dodd-Frank Act. So you might think that it would be hard to get a credit card or to use one to borrow these days. […]
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In a decision penned by circuit judge Jeffrey Sutton, Roberts v. Mars Petcare US, Inc., No. 17-6122 (6th Cir. Nov. 2, 2017), the Sixth Circuit has held that there's no federal jurisdiction under the Class Action Fairness Act when a plaintiff class comprised of citizens of state A sue a defendant who is a citizen […]
Read Heading off a Cliff? by law prof Michael Gratz and then decide. It's concise and really worth reading. Here's the abstract: The major tax policy challenge of the 21st century is the need to address the nation’s fiscal condition fairly and in a manner conducive to economic growth. But since California adopted Proposition 13 nearly forty […]
Consumerist.com posted on Monday that the website has posted its last post: This is our last post on Consumerist.com. We’re deeply proud of all the work we’ve done on behalf of consumers, from exposing shady practices by secretive cable companies to pushing for action against dodgy payday lenders. We’ve had a tremendous run as a standalone […]
by Jeff Sovern The American Banker ran a story, Will Hensarling's next job be in Trump administration? on a variety of matters. As for Hensarling, the story reported speculation that he might be appointed to run the Federal Housing Finance Agency, which he might prefer to leading the CFPB: "Running the CFPB is likely to be a giant […]
The Consumer Financial Protection Bureau today issued this report on risky auto loans. The report finds that there is a pronounced trend toward longer, riskier auto loans. And the long-term, more costly loans are — not surprisingly — being take out by consumers with lower credit scores who are less likely than other consumers to be able […]
by Jeff Sovern So reports the Dallas Morning News. Representative Hensarling is a strong believer in the free market, despite the evidence that it doesn't always work. I hope that this does not mean Hensarling would be the president's nominee to run (ruin?) the CFPB, an agency that Hensarling has been extremely critical of (compare […]
The Hill reports: The director of the Consumer Financial Protection Bureau (CFPB) has written an unusual plea to President Trump, asking him to save the agency's rule on forced arbitration. Richard Cordray wrote what he called a “simple, personal appeal” to Trump, asking him not to sign a resolution from Congress that would kill the CFPB rule. “Many […]
Teaching Consumer Law Conference – Santa Fe, New Mexico, 18 & 19 May 2018 The Center for Consumer Law at the University of Houston Law Center, in cooperation with the University of New Mexico School of Law, is organizing its tenth biennial international teaching consumer law conference. The subject is “Teaching Consumer Law: Where Have […]