An op-ed in The Washington Post reports: The debate surrounding the Federal Communications Commission’s effort to revise the net neutrality rules has been heated and intense. Spurred by privacy advocates and late-night talk show hosts alike, the FCC’s rulemaking process received millions of unique comments, and drew the kind of national attention usually reserved for […]
by Jeff Sovern The tweet reads: Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if anything, substantially increased. I will cut Regs but make penalties severe when caught cheating! If the CFPB continued […]
by Jeff Sovern The old Soviet Union assigned political officers, called zampoliti, to military units to monitor the units for political correctness, as the Soviets defined it, among other purposes. According to an American Banker article authored by Kevin Wack, Mulvaney's plan to embed political staffers in CFPB sparks backlash, the purported Acting CFPB Director, Mick […]
The National Law Journal has the schedule here. If granted, the motion would presumably be in place until entry of judgment.
Harvard SJD candidate Aluma Zernik has written When Markets, Consumers and Regulators Collide: Overdrafts in the US, UK and Israel. Here's the abstract: There is a fierce debate in the US about whether to regulate overdrafts and, specifically, about whether overdraft should be limited or prices should be capped. Proponents of regulation claim overdrafts are not […]
by Jeff Sovern So reports the American Banker. Mulvaney can't simply rescind the payday lending rule without going through the time-consuming notice and comment process. But if the rule takes effect, and the industry challenges it, what happens if Mulvaney orders the CFPB lawyers not to defend the rule? Does the CFPB have an obligation […]
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 […]