Here, in an article by Kate Berry. The article is behind a paywall but should soon be available on Lexis if it isn't already.
Paolina C. Medina of Texas A&M University and Jose L. Negrin of the Banco de Mexico have written The Hidden Role of Contract Terms: Evidence from Credit Card Minimum Payments in Mexico, Management Science (2021). Here is the abstract: This paper argues that thresholds in financial contracts act as implicit nudges in consumers’ decisions. Exploiting […]
The American Economic Association has a report on the study here. The actual paper, Is No News (Perceived As) Bad News? An Experimental Investigation of Information Disclosure by Ginger Zhe Jin, Michael Luca, & Daniel Martin, is here. Here's the abstract: This paper uses laboratory experiments to directly test a central prediction of disclosure theory: that […]
by Jeff Sovern I have a suggestion for the CFPB relating to arbitration. Many readers will know this background, but for those who don't: in 2010, Congress enacted the Dodd-Frank Act, which in section 1028 directed the Consumer Financial Protection Bureau to study arbitration. The statute also authorized the Bureau to regulate consumer financial arbitration […]
Many of our readers are consumer lawyers. Many of them handle complex, aggregated litigation, so they may be interested in Collected Wisdom on Selecting Leaders and Managing MDLs by law professor Elizabeth Burch and U.S. district judge Stephen Bough. Here is the abstract: Today, nearly one out of every two new suits filed in federal […]
by Jeff Sovern Here. [Disclosure: the website is put up by AAJ, which gave St. John's a grant to fund some of my research back in 2015]
by Jeff Sovern Blankenstein's essay appears in the National Review. Bureau-watchers may recall that Blankenstein served as an associate director at the Bureau during the Trump administration but left after a rebellion over blog posts he had written a decade earlier questioning whether use of the n-word is racist, among other things. Here's the opening […]
That's the title of this article by LA Times consumer reporter David Lazarus, who explains that "Rohit Chopra is expected to receive the U.S. Senate’s blessing any day now to become the new head of the Consumer Financial Protection Bureau. His job will be to restore credibility to a watchdog agency that was largely sidelined during […]
by Paul Alan Levy When Keep Pushing, a St. Louis community organization devoted to protecting the unhoused, went door-to-door to speak to tenants facing eviction orders and hand out a flyer about their rights under the CDC eviction moratorium, one of the landlords whose tenants were visited, Norwood 2020, was desperate to suppress this potential threat […]
Here. This really brings home how mortgage debt compares to other consumer debts.