Wells Fargo now says it has found a total of up to 3.5 million potentially fake bank and credit card accounts, up from its earlier tally of approximately 2.1 million. The additional fake accounts were discovered by a previously-announced analysis that went back to January 2009 and that reviewed the original May 2011 to mid-2015 […]
Will he stay or will he go? (Okay, it's poor analogy, but I like the song.) This article by C. Ryan Barber (possibly behind a paywall) explains that Rep. Jeb Hensarling keeps asking Consumer Financial Protection Bureau head Richard Cordray whether he's going to serve out his term or resign to run for Ohio governor: U.S. Rep. […]
A Washington Post column reminds us: "Today marks your final opportunity to submit comments to federal regulators who want to undo the government's net neutrality rules for Internet providers, in a move that could have sweeping implications for the future of the Web. The push to weaken or eliminate the rules has been met with praise from […]
Beachbody, one of the world’s largest sellers of exercise videos, supplements, and weight-loss programs, has agreed to change its website and sales practices to better protect consumers. The Santa Monica-based company, which claims over 23 million customers, also will pay $3.6 million in penalties and restitution as part of a final court judgment. The judgment […]
Professor Rebecca Tushnet on her 43(B)log has an interesting and thorough discussion today of a recent court decision in a false advertising case, Korolshteyn v. Costco Wholesale Corp. (S.D. Cal. Aug. 23, 2017): Costco’s TruNature Gingko labels represent that the product “supports alertness & memory,” that “Gingko biloba can help with mental clarity and memory,” […]
Stephen J. Ware of Kansas has written The Centrist Case for Enforcing Adhesive Arbitration Agreements, Forthcoming in the Harvard Negotiation Law Review. Here is the abstract: "The Politics of Arbitration Law and Centrist Proposals for Reform", 53 Harvard J. on Legislation 711 (2016), explained how issues surrounding consumer, and other adhesive, arbitration agreements became divisive along predictable political lines […]
Georgetown law prof Adam Levitin has penned this article in American Banker (and a similar piece for Credit Slips). (The American Banker version may be behind a paywall.) State usury laws generally are preempted by the National Bank Act when a loan is held by a national bank. But, as Levitin notes, "[o]nce the note leaves the hands […]
The president of KidsandCars.org, Janette Fennell, explains: "Under the guise of 'reform,' a bill called the Regulatory Accountability Act (RAA) would add a maze of additional bureaucracy to the life-saving protections. Instead of making it easier to implement protections, the RAA is a recipe for more red tape and additional layers of bureaucracy in a […]
That is a big question — maybe the question — about aggregated litigation. (We would also want to know, among other things, whether aggregated litigation adequately compensates injured people.) Law prof Brian Fitzpatrick attempts to answer that question in his new article aptly titled Do Class Actions Deter Wrongdoing? Here is the abstract: I and other scholars have […]
A week ago, I posted this about the largest jury verdict to date against talcum powder makers — $417 million — awarded to a woman who alleged that Johnson & Johnson's talc-containing baby powder caused her ovarian cancer. You may also be interested in this article by Laura McGinley. The thrust of McGinley's piece is that while results […]