In recent years, federal courts have been addressing corporate class-action defendants' claims that the federal class-action rule (Rule 23) contains an rigorous "ascertainability" requirement — a supposed need for the plaintiffs to show, at the certification stage (rather than at the remedy phase), that they have a crackerjack method for identifying the class members with […]
Here. Excerpt: Focusing, for example, on cases involving unlawful check bouncing charges, the bureau [study] found that class actions brought on this issue alone allowed millions of financial consumers to recover nearly $1 billion of damages as well as important non-monetary relief, all of which deters future legal violations. By contrast, the bureau learned that […]
Last Friday marked the Consumer Financial Protection Bureau's 6th birthday. It celebrated with a report describing what it considers the agency's top 6 accomplishments.These topics are described below, and the specifics are provided after the jump (with links to further information). 1. Our actions have resulted in nearly $12 billion in relief for more than 29 million harmed […]
In Competitive Enterprise Institute v. DOT, by a 2-1 vote, the D.C. Circuit has upheld a Department of Transportation rule banning use of e-cigarettes on commercial passenger flights. The main question was whether Congress's 1987 law making it illegal "to smoke" on certain commercial flights justified a recent regulatory ban on using (or, some might say, […]
This article by AP medical journalist Carla Johnson explains that Trump is not simply letting the Affordable Care Act fail (as he has occasionally pledged to do), but taking affirmative steps to harm the Act by making it harder to sign up for coverage. As the article explains, these actions could, in turn, destabilize markets in […]
Here. Excerpt: In the area of national advertising, Pahl listed three priorities that indicate a return to a more traditional, conservative approach to law enforcement. First, he said the agency will focus on “fraud” and “quasi-fraud,” similar to the agency’s historic approach to deceptive weight loss and dietary supplement claims. A second priority is health […]
The report is titled How Consumer Financial Class Actions Help and Protect Americans. Here is an excerpt from the press release: This report illustrates how anytime, anywhere, an unscrupulous bank or lender could steal money from you, your family, or your small business. … If, say, a bank opens a fraudulent bank account in your […]
by Jeff Sovern Here. The article points out that one Republican member of the Senate Banking Committee, John Kennedy of Louisiana, did not agree to cosponsor the Senate CRA resolution to rescind the CFPB rule (he was said to be reviewing the resolution); that Senator McCain's unfortunate health issues may prevent him from voting on […]
Here. Excerpt: [T]he two main sponsors — Rep. Jeb Hensarling (TX) and Sen. Mike Crapo (ID) — received a total of $6 million in campaign contributions from the financial sector in 2016, with $1.9 million going to Hensarling’s campaign and $4.1 million going to Crapo. * * * Sen. Pat Toomey (PA) received a total […]
by Jeff Sovern Yesterday, the Senate Banking Committee released a press release that said in part: Today, U.S. Senate Committee on Banking, Housing and Urban Affairs Chairman Mike Crapo (R-Idaho) and Republican colleagues will file a Congressional Review Act (CRA) Joint Resolution of Disapproval in the Senate against the Consumer Financial Protection Bureau’s (CFPB) arbitration […]