More here. Chapters that look as if they may be of particular interest to CL&P blog readers include The Enduring Dilemmas of Antifraud Regulation, The Shape-Shifting, Never-Changing World of Fraud, The Call for Investor and Consumer Protection (1930s to 1970s), Moving toward Caveat Venditor, Consumerism and the Reorientation of Antifraud Policy The Promise and Limits of […]
Category Archives: Unfair & Deceptive Acts & Practices (UDAP), including Discrimination
Former FTC Commissioner Joshua D. Wright of George Mason has written Federalism and the Rise of State Consumer Protection Law in the United States, in The Law and Economics of Federalism, Jonathan Klick, ed., Edward Elgar Publishing, Forthcoming. Here's the abstract: Starting in the 1960s, individual states began to adopt and enforce Consumer Protection Acts […]
ALI’s Proposed Restatement of Consumer Contracts – Perpetuating a Legal Fiction? By Dee Pridgen The members of the American Law Institute (ALI) are currently working on what may ultimately become “The Restatement of Consumer Contracts.” This project could provide an opportunity for real law reform. Indeed, the original goals of the ALI include adapting […]
by Jeff Sovern Some years ago, I wrote an article in which I speculated that disclosing to consumers that consumers rarely redeem rebates might cause consumers to disregard rebate offers. Better-known scholars, like Ian Ayres and Oren Bar-Gill, have expressed similar thoughts. Well, a new study suggests that the contrary is true. Molly Mercer of DePaul's […]
Dennis D. Hirsch of Capital has written That's Unfair! Or Is It? Big Data, Discrimination and the FTC's Unfairness Authority, 103 Kentucky Law Journal (2015). Here is the abstract: Big data and data analytics (“big data”) can produce many social and economic benefits. But they can also generate privacy injuries and harmful discrimination. The governance of […]
The CFPB's field hearing on payday lending is underway, and is being livestreamed at the Bureau's website. Watch it here.
Lauren Willis (of Loyola Los Angeles) and Theresa Amato (of the Fair Contracts Project) have a great op-ed in today's Los Angeles Times on what to do about consumer financial illiteracy. "There are dozens of entities devoted to educating you about all things financial," they write, "[b]ut none of it is working very well." Financial […]
by Maura Dundon (Senior Policy Counsel, Center for Responsible Lending) The sale of Corinthian Colleges (the for-profit college chain that operates Everest, WyoTech, and Heald) to the student loan debt collector ECMC is poised to close today. The deal has raised serious concerns about the fate of Corinthian students and whether the new entity represents […]