Financial Regulation Scholars Amicus Brief in PHH Case

Here.  Deepak Gupta is counsel. Here's the Introduction and Summary of the Argument: The Constitution requires public accountability for government agencies but does not prescribe how it must be achieved. It can be achieved in a variety of ways through agency design, and indeed, there is tremendous variation in agency structure. Public accountability can also […]

Bloomberg: Thousands of Trump University Students Sign Up for Refunds

Here.  More than half the class members have submitted claims.  Claimants are expected to recoup 80% of what they spent.  The article attributes the high participation rate to the publicity the case garnered as well as the amounts individual claimants have at issue, as much as $20,000.  

D.C. Circuit throws out Federal Communications Commission’s rule requiring senders of “solicited” faxes to provide recipients opt-out notices

The D.C. Circuit today issued a 2-1 decision in Bais Yaakov of Spring Valley v. FCC, which tossed a Federal Communications Act rule requiring senders of so-called "solicited" faxes to provide recipients notice of a right to opt-out. The first few sentences of Judge Kavanaugh's majority opinion provides an overview: Believe it or not, the fax machine […]

CFPB director Richard Cordray speaks to the Chamber of Commerce

This article (registration possibly required) by C. Ryan Barber covers an appearance yesterday by Consumer Financial Protection Bureau director Richard Cordray before the U.S. Chamber of Commerce in which, among other things, Cordray explained his views on regulating via across-the-board regulation versus individual enforcement action.

Sampling for Individual Damages in Class Action Litigation

That is the name of this article by Hillel Bavli and John Felter. It may be useful to counsel seeking class certification based on what is sometimes referred to as representative proof. Here is the abstract: The 2016 Supreme Court decision in Tyson Foods v. Bouaphakeo revived the use of “representative” or sampling evidence in class actions.  Federal courts are […]

FTC returns money to victims of debt collection scheme

The Federal Trade Commission announced today that it is mailing 5,232 checks totaling more than $2.7 million to people who lost money to Rincon Debt Management, a debt collection scheme that focused on people who were strapped for cash. The company’s owners are banned from the debt collection business. People who lost money are getting […]

Trumpian Newspeak on climate change?

This article by Eric Wolff explains that "[a] supervisor at the Energy Department's international climate office told staff this week not to use the phrases 'climate change,' 'emissions reduction' or 'Paris Agreement' in written memos, briefings or other written communication." ("Emissions reduction." Now, there's a subversive phrase!) So, must they consult the Trumpian Newspeak dictionary to figure out what […]

Article Examines How Government Agencies Enforce UDAP Laws

Prentiss Cox of Minnesota, Amy Widman of Northern Illinois, and Mark Totten of Michigan State have written Strategies of Public UDAP Enforcement, Harvard Journal on Legislation, Forthcoming.  Here's the abstract: Laws protecting consumers from unfair and deceptive acts and practices – commonly called “UDAP” laws – have played a stunning role in recent years. As […]

Supreme Court issues decision in Expressions Hair Design v. Schneiderman

The Supreme Court today issued its decision in Expressions Hair Design v. Schneiderman. The cert petition posed the question in the case this way: Ten states have enacted laws that allow merchants to charge higher prices to consumers who pay with a credit card instead of cash, but require the merchant to communicate that price difference […]

The Hill Reports Bill to Weaken CFPB Could be Marked Up in April While Politico Makes it Seem As it Might Not Move

Here is The Hill's Report. Excerpt: Republicans on the House Financial Services Committee are eyeing April markups for Dodd-Frank legislation, meaning Democrats have just about a month to settle on a strategy to defend the CFPB. Some Democrats think working with Republicans on some changes to the CFPB could be sound policy. Several House Financial […]