Here, at The Clearinghouse Blog. Excerpt (footnote omitted): Recently, one hears opponents of regulatory reform arguing that there is no need for regulatory reform because banks are making "record profits." The argument is quite puzzling, but we’ve heard it enough to think it deserved a quick response. Just for starters, step back and think […]
by Jeff Sovern Last week, we reported on a Law360 article by Gary Mason finding benefits to class actions. Mayer Brown's Andrew Pincus has responded to the Law360 piece, also on Law360. Here's an excerpt (with footnotes omitted): The critical question is whether class actions generally deliver relief to class members. The answer: They don’t. * […]
by Paul Alan Levy In a decision issued late Thursday morning, DC Superior Court Chief Judge Robert Morin said that he was ready to order DreamHost to comply with the federal prosecutors’ scaled-down search warrant, but enunciated strict procedural restrictions that he said were intended to reflect a balance between allowing the Government to pursue […]
by Jeff Sovern Here. Excerpt: The Consumer Financial Protection Bureau, still under the leadership of an Obama-appointed director, is expected to scale back its new rule on small-dollar lending as it rushes to complete the regulation * * * * * * The rule is now expected to focus on short-term payday loans that are […]
Before jumping into my first post, I wanted to quickly introduce myself. I'm Mike Landis, Litigation Director for U.S. PIRG. (Obligatory disclaimer: my posts express my individual views only and not those of U.S. PIRG.) I've been a reader of this blog for sometime, and I'm excited to now participate as a contributor. My goal […]
Coming soon to a TV screen near you: An ad from the Chamber of Commerce exhorting viewers to tell their Senators to block the CFPB's arbitration rule so lawyers will stop bringing lawsuits over coffee. I kid you not. Never mind that the rule applies to rip-offs by banks, credit card companies, and other financial […]
The "Bargainista" columnist for the on-line news site TCPalm.com, a USA Today affiliate focusing on Florida's Treasure Coast, commonly covers subjects such as the availability of "mooncakes" at Denny's on eclipse day, the supply of pretzels at the Wawa convenience store chain, and special deals available on "holidays" like National Fajitas Day, National Bowling Day, National […]
As CFPB director Richard Cordray described it: Consumer financial protections are not confined within the 50 states. American Express discriminated against consumers in Puerto Rico and the U.S. territories by providing them with less-favorable financial products and services. They have ceased this practice and are making consumers whole. In particular, because they self-reported the problem and […]
by Paul Alan Levy Responding to an outpouring of popular outrage as well as legal filings (including one from Public Citizen as well as an amicus brief from Avaaz) showing that the First Amendment protects the right to read anonymously and can be used to limit the enforcement of criminal discovery demands seeking to identify […]
The unanimous decision, by Chief Judge Wood, is Laurens v. Volvo Cars of N. America. Here's the beginning of the opinion, which sums things up quite nicely: The idea of a theme and variations is a common one in music. It should be in law, too. Here we return to the familiar theme of a defense effort […]