Here. Excerpt: Cryptocurrency startup Solidus Labs has hired the former director of the U.S. Consumer Financial Protection Bureau (CFPB) as its top regulatory official, she told Reuters. * * * Founded in 2017 by former Goldman Sachs employees, New York-based Solidus Labs provides cryptocurrency trading surveillance and risk monitoring tools. Its backers include private equity […]
Vijay Raghavan of Brooklyn has written Consumer Law's Equity Gap, Utah Law Review (forthcoming 2022). Here is the abstract: This article is about the views that shape and constrain the development of consumer law. Consider the market for short-term, high-cost loans. Policymakers tend to justify intervening in these markets on inefficiency grounds (consumers exhibit present bias) […]
SAVE THE DATE! Teaching Consumer Law Conference With a Full Day Devoted to Clinical Education May 19, 20 & 21, 2022 Santa Fe, New Mexico Presented by the Center for Consumer Law, University of Houston, and the Center for Consumer Law & Economic Justice, UC Berkeley It may seem like forever since there has been […]
As you may know, most student loans are notoriously difficult to discharge in bankruptcy. But not all loans, according to In re Hilal K. Homaidan (CA2 July 15, 2021). In that decision, the Second Circuit has joined the Fifth and Tenth Circuits and held that private student loans are dischargeable in bankruptcy. The exceptions to […]
Here (behind paywall but available on Lexis), by Kate Berry. The headline has the summary: "Harsher rules, more enforcement." Excerpt: "The CFPB has been extraordinarily active under acting Director Dave Uejio, who is not acting like a typical acting director," said Jeff Naimon, a partner at the Buckley law firm. "He knows how things work and how […]
Americans for Financial Reform, the Public Interest Research Group, the Center for Responsible Lending, the National Consumer Law Center, the Consumer Federation of America, National Association of Consumer Advocates, New Jersey Citizen Action, the Woodstock Institute and the Leadership Conference on Civil & Human Rights is commemorating the 10th anniversary of the creation of the […]
by Jeff Sovern Bloomberg Law has the story here (possibly behind pay wall). The first was California, and the second was Virginia. Others are likely to follow. The more states that enact privacy laws, the more businesses are likely to complain that they are encountering compliance difficulties and expense complying with the different laws. They […]
Last week, the Consumer Financial Protection Bureau issued a report on "several areas of concern related to relief provided in response to the COVID-19 pandemic, including the Centers for Disease Control and Prevention (CDC) eviction moratorium. Some consumers reported facing homelessness because of the negative impact of an eviction on their credit history reported by […]
Politico reports that President Biden is scheduled to to issue an executive order today "to promote competition throughout the U.S. economy in the most ambitious effort in generations to reduce the stranglehold of monopolies and concentrated markets in major industries." The order is part of an effort "to focus on competition as part of the […]
by Jeff Sovern I have revised my article, Six Scandals: Why We Need Consumer Protection Laws Instead of Just Markets, to take into account the many helpful comments I received at the Berkeley Consumer Law Scholars Conference. Here is the updated abstract: Markets are powerful mechanisms for serving consumers. Some critics of regulation have suggested […]