CFPB improves survey on credit cards to promote competition and comparison shopping

The Consumer Financial Protection Bureau this week “launched an improved survey of credit card issuers that can help consumers and families compare interest rates and other features when shopping for a new credit card.” The agency explained that the [u]pgrades to the CFPB’s terms of credit card plans survey are designed to increase price competition […]

Fifth Circuit lets big tobacco continue to harm youth

Public health campaigns over the past decades have been successful in reducing the prevalence of cigarette smoking in the U.S., particularly among adolescents. The tobacco industry has thus pivoted to e-cigarettes and vaping. Studies show young people, in particular, mistakenly believe such products are not unhealthy, and have been flocking to such products in droves. […]


The Second Circuit ruled today that the Consumer Financial Protection Bureau’s funding structure is constitutional. In a unanimous decision,the court disagreed with a Fifth Circuit decision.  The panel panel said at it “cannot find any support for the Fifth Circuit’s conclusion” in Supreme Court precedent, the Constitution’s text or the history of the appropriations clause. […]

Disagreeing with the 5th Circuit, the 2d Circuit holds that the CFPB’s funding structure is constitutional

In 2019, the CFPB issued a “civil investigative demand” to the Law Offices of Crystal Moroney, a law firm that principally provides legal advice and services to clients seeking to collect debt. In April 2020, the CFPB moved to enforce the 2019 CID. In August 2020, the district court granted the CFPB’s petition to enforce […]

Ninth Circuit issues mixed decision on tenant criminal history restrictions

The City of Seattle passed the Fair Chance Housing Ordinance, which prohibits landlords from (1) inquiring about the criminal history of current or potential tenants and (2) from taking adverse action based on that criminal history. In a split decision yesterday, the Ninth Circuit found the “inquiry” provision unconstitutional under the First Amendment, but upheld […]

Study finds credit score changes affect default rate even if underlying record hasn’t changed

Amiyatosh Purnanandam, and Alexander Wirth, both of the University of Michigan, Stephen M. Ross School of Business, have written Can Credit Rating Affect Credit Risk? Causal Evidence from an Online Lending Marketplace. Here’s the abstract: Credit rating is determined by a borrower’s credit risk, but can the rating in itself change a borrower’s credit risk in […]

CFPB seeks public info on data brokers’ business

The Consumer Financial Protection Bureau wants to know more about data brokers and their practices, as these entities gather and sell consumers’ personal and private information. The CFPB requests public feedback including information about the entities that collect personal consumer data, the types of data collected, sources that data brokers use to collect information, their […]

Proposals for regulating ChatGPT and other generative AI

“While ChatGPT and generative AI’s powerful potential has sparked excitement, some experts worry that ChatGPT—which sometimes produces inaccurate responses—may spread misinformation. In addition, other experts have expressed concern that the tool may replace workers.” At The Regulatory Review, scholars compile scholarship discussing the potential harms of ChatGPT and evaluating ways to regulate generative AI. The […]

FCC establishes robotext protections

The Federal Communications Commission voted on Thursday to require providers that receive and deliver phone traffic to implement call authentication standards mandated under its STIR/SHAKEN robocall regime and to implement basic protections from problematic robotexts. Under the previous rules, only voice service providers that originate and terminate calls were required to implement analytical tools that […]

FTC to hold virtual panel discussion on FTC career opportunities

The panel, to be conducted by the Bureaus of Consumer Protection and Competition, will be on Tuesday, March 28, 2023 from 1:00 pm to 2:00 pm (EDT). Panelists include Alpa Davis, Health Care Division (BC), Eric Elmore, Mergers 2 Division (BC), Quinn Martin, Financial Practices Division (BCP), Rosario Mendez, Consumer & Business Education Division (BCP), Terry Thomas, Mergers 3 Division (BC), and Ricardo Woolery, Office of […]