CNBC reports: "Congress has it in for consumer protections enacted by the Consumer Financial Protection Bureau. A congressional resolution introduced Friday in the House would kill the CFPB's new rule aimed at making sure borrowers of so-called payday loans can afford to repay their debt." The full article is here.
We do consumer law and policy here. Most of what we discuss is about laws and policies that will help or hurt consumers in this or that fairly modest way. But the tax bills passed by the House and Senate, or any compromise in between, if enacted and signed by our loathsome president, would harm […]
The architects of the Dodd-Frank Act, including former Senator Dodd, former Representative Frank, and former Treasury official Michael Barr, held a press conference on Thursday to make the point that Congress did not want the Vacancies Act to apply to the CFPB. The American Banker has a report here. Excerpt: They said a federal judge […]
Robin Bradley Kar of Illinois and Margaret Jane Radin of Toronto and Michigan have written Pseudo-Contract & Shared Meaning Analysis. Here is the abstract: Over the last several decades, courts have struggled with when to enforce boilerplate text as contract. An example is the copious digital text that consumers receive links to before clicking “I agree” […]
We do consumer law and policy here. Most of what we discuss is about laws and policies that will help or hurt consumers in this or that fairly modest way. But the tax bills passed by the House and Senate, or any compromise in between, if enacted and signed by our loathsome president, would harm […]
November 22, 2017 – Tobacco Companies to Begin Issuing Court-Ordered Statements in Tobacco Racketeering Suit November 22, 2017 – Former Pharmacy Compliance Director Pleads Guilty to Introducing Adulterated Drugs into Interstate Commerce and Conspiracy to Defraud the United States November 8, 2017 – District Court Enters Order Against Los Angeles Area Telemarketing Companies and Their […]
USA Today reports on plans to sue the Consumer Financial Protection Bureau over its rule on payday lending. As the article epxlians, "The new rule requires providers of payday loans, auto title loans, and other small-dollar advances to predetermine whether borrowers can afford to repay the debts. The rule also limits lender efforts to debit borrowers' checking accounts, a […]
by Paul Alan Levy In a decision issued on Tuesday in Signature Management Team v. Doe, the Court of Appeals for the Sixth Circuit implicitly adopted the majority rule followed in the state courts that have addressed the issue, holding that a plaintiff seeking to identify an anonymous defendant in order to pursue litigation over […]
A health products company called Health Research Laboratories and its owner Kramer Duhon have agreed to settle charges by the Federal Trade Commission and the State of Maine that they deceived consumers with promises that their products could treat everything from arthritis to memory loss. The proposed federal court order announced today bars the defendants from […]
If you want to learn what the CFPB would look like if republican plans to defang it were enacted, law prof Chris Peterson has done a study for you: Choosing Corporations Over Consumers: The Financial Choice Act of 2017 and the CFPB. Here is the abstract: The Consumer Financial Protection Bureau (CFPB) is the U.S. Government’s […]