So says Bloomberg.
by Jeff Sovern It feels as if there has been a steady stream of op-eds attacking Mulvaney's decision to fire the CFPB's Consumer Advisory Board members. We've posted links here and here and I commented here. A couple more links appear below. But usually someone outside the Bureau defends Mulvaney's acts. Where are they this time […]
Courthouse News reports: Education Secretary Betsy Devos need not provide full debt relief to more than 60,000 defrauded students, but she must stop collecting on their loans, a federal judge said in court Monday. Lawyers for a proposed class of borrowers had asked U.S. Magistrate Judge Sallie Kim to revive an Obama-era policy that promised […]
Here on Law360. Excerpt: Companies also benefit from the public database. The database provides important feedback to companies about concerns people have with their products and services. It also helps prevent unscrupulous competitors from undercutting legitimate companies, because all companies know that consumers might call them out for using underhanded tactics. Additionally, policymakers and others […]
The Supreme Court held long ago, in a case generally referred to as "American Pipe," that if the courts refuse to allow a case to go forward as a class action, all members of the class have the chance to bring suit to pursue their claims individually, even if the statute of limitations has expired, […]
Christoph Busch of the University of Osnabrück – European Legal Studies Institute has written Implementing Personalized Law: Personalized Disclosures in Consumer Law and Privacy Law, forthcoming in the University of Chicago Law Review. Here's the abstract: This Article explores how the rise of Big Data and algorithm-based regulation could fundamentally change the design and structure of disclosure mandates […]
Here, by Suffolk's Kathleen Engel and Notre Dame's Judy Fox. I wanted to post an excerpt, but there is so much in this one that is important that I didn't want to leave anything out. I urge our readers to read it in its entirety. Mulvaney's decision to disband the advisory boards and the justifications […]
David Lazarus of the LA Times writes today about the possibility that the Consumer Financial Protection Bureau will cut off public access to its consumer complaint database. The comment period closed this week on the CFPB's request for comment on possible changes to its complaint system. Meanwhile, "Mick Mulvaney, Trump’s budget chief who’s serving as […]
by Jeff Sovern Kate Berry at the American Banker reports on Mulvaney's response to questions about why he fired the advisory board members. The headline reads Mulvaney's defense of CFPB board upheaval: I'm trying to fix leaks. The headline is puzzling, because the Consumer Advisory Board never met with Mulvaney, so it's hard to know […]
Here, by Ann Baddour, director of the Fair Financial Services Project at Texas Appleseed. Excerpt: When Mick Mulvaney and his leadership team took control of the bureau in November, we on the advisory board tried in good faith to engage with them. We have been sidelined every step of the way. The bureau canceled our scheduled meetings […]