by Jeff Sovern Here is a report on the mortgage default rate from Housing Wire. So we have a low mortgage default rate and record highs in consumer debt, as Brian reported earlier, half a dozen years after creation of the CFPB. Yet conservatives want to eliminate or reduce the Bureau's power.
We received the following call for papers: The Innovation Center for Law and Technologyat New York Law School and The Center on Law and Information Policyat Fordham University School of Law are pleased to issue this Call for Papers for the inaugural Northeast Privacy Scholars Workshop, which will take place at New York Law School on October […]
Following up on an earlier post, this Reuters story by Jonathan Spicer reports that Americans' debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card debt, where delinquencies jumped. Total U.S. household debt was $12.84 trillion […]
Premiums for the most popular health insurance plans would shoot up 20 percent next year, and federal budget deficits would increase by $194 billion in the coming decade if President Trump carries out his threat to end certain subsidies paid under the Affordable Care Act to insurance companies for the benefit of low-income people, reports […]
The Center for Auto Safety, the nation’s leading independent non-profit organization providing consumers a voice for auto safety, quality, and fuel economy, has announced the appointment of Jason K. Levine as its new Executive Director. Mr. Levine succeeds Clarence M. Ditlow III, who led the Center for 40 years, until his death last November. Mr. […]
Law prof James Henderson says nope in The Impropriety of Punitive Damages in Mass Torts. Here is the abstract: Punitive damages have been around for centuries in classic one-on-one tort actions and are here to stay. Mass torts, of more recent origin and not without difficulties, have matured to the point that this article is comfortable […]
That's the thrust of this American Banker article (possibly behind a paywall). Here is an excerpt: Consumer groups have long denounced the influence of big banks and for-profit companies on agency rulemakings, often pointing to the number of meetings held between regulators and institutions about a proposal. Now, in an ironic twist, payday lenders and supporters of […]
Here. The article uses Wells Fargo as an example. Here's an excerpt: Will Wells Fargo be held to account for the many ways in which it mistreated its customers? The prospect of governmental action appears to be diminishing, and any fines it might face are likely to be at the low end of the scale […]
That's the name of this article by consumer reporter Michelle Singletary. Here are excepts: Outstanding consumer revolving debt — mostly credit card debt — hit an all-time peak of $1.021 trillion in June, according to the Federal Reserve. This should be a scary statistic. The last time the debt level was nearly this high was in 2008, […]
So, you didn't predict that Trump would turn his sickening response to the white nationalist terror attack in Charlottesville into a faux pro-consumer attack on high prescription-drug prices? Me neither. Here goes: As this article by Glenn Thrush explains, "Merck’s chief executive, Kenneth C. Frazier, resigned from the president’s American Manufacturing Council on Monday, saying he objected to the […]