by Jeff Sovern Senator Sasse joined with Senator Lee in a letter to President-Elect Trump; The Hill has the story here. The letter doesn't mention that the Bureau has secured nearly $12 billion in relief for more than 27 million consumers, among other significant accomplishments.
Todd J. Zywicki of George Mason, and Geoffrey A. Manne and Kristian Stout, both of the International Center for Law and Economics, have written Behavioral Law & Economics Goes to Court: The Fundamental Flaws in the Behavioral Law & Economics Arguments Against No-Surcharge Laws. Here is the abstract: During the past decade, academics — predominantly […]
by Jeff Sovern As earlier reported by the CFPB Monitor and elsewhere, President-Elect Trump has named three new members to the CFPB "Landing Team." One of the members, Kyle Hauptman, is a Senior Development Manager at the American Enterprise Institute. The AEI has on its website some articles that may give clues as to Mr. […]
by Jeff Sovern In a characteristically terrific post at Credit Slips, Georgetown's Adam Levitin explains the real reasons for calls to fire CFPB Director Cordray. A worthy companion to Adam's recent op-ed at American Banker (free content), What the CFPB 'Commission' Debate Is Really About. Both worth a read.
Here (behind paywall). Excerpt: In mid-November, a Twitter group called Sleeping Giants became the hub of the new movement. The Giants and their followers have communicated with more than 1,000 companies and nonprofit groups whose ads appeared on Breitbart, and about 400 of those organizations have promised to remove the site from future ad buys. […]
Pamela Foohey of Indiana has written Calling on the CFPB for Help: Telling Stories and Consumer Protection, 80 Law & Contemporary Problems (Forthcoming). Here is the abstract: Since it began operating in 2011, the Consumer Financial Protection Bureau (CFPB) has handled more than a million complaints regarding consumer financial product and services. Beginning in June 2015, […]
The Washington Post reports: Some of the nation's biggest Internet providers are asking the government to roll back a landmark set of privacy regulations it approved last fall — kicking off an effort by the industry and its allies to dismantle key Internet policies of the Obama years. In a petition filed to federal regulators Monday, a top […]
In an opinion issued yesterday, the Ninth Circuit held that a named plaintiff need not demonstrate, to support a motion for class certification, an "administratively feasible" way of identifying individual class members. In Briseno v. ConAgra, the plaintiffs argued that Wesson Oil's “100% Natural” label was false or misleading because Wesson oils are made from […]
The Consumer Financial Protection Bureau has taken enforcement action against Equifax, Inc., TransUnion, and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The CFPB found that the companies also lured consumers into costly recurring payments for credit-related products with false promises. The CFPB ordered TransUnion […]
Christopher R. Drahozal of Kansas has written The Issue Preclusive Effect of Arbitration Awards, Proceedings of the NYU 69th Annual Conference on Labor: Mediation and Arbitration of Employment and Consumer Disputes, Forthcoming. Here's the abstract: Courts in the United States have two primary means (in addition to individual adjudication) by which to resolve disputes in […]