So Bonnie Eslinger reports in Law360’s American Arbitration Assoc. Accused Of Pro-Corp. Monopoly. The plaintiffs claim violations of state and federal antitrust laws. Here are the first two paragraphs of the complaint: This case is about the predatorial behavior of an arbitration association in its attempt to race to the bottom of the barrel of […]
This week, the Senate advanced the GENIUS Act, which would establish a (too-weak) regulatory framework for “stablecoins” and other digital currency. Missouri Senator Josh Hawley has proposed an amendment to that bill which would prohibit credit card interest rates above 10%. The banking industry is not pleased.
Here. Finally the NYT runs an op-ed about the CFPB! And it’s a good one. Here are the first two paragraphs: The Consumer Financial Protection Bureau is turning into the Corporate Financial Protection Bureau. President Trump’s C.F.P.B. has not only ceased to pursue its mandate; it has taken the unprecedented step of unwinding prior victories […]
On May 8 and 9, President Trump attempted to fire the three Democratic members of the Consumer Protection Safety Commission. Today, represented by my colleagues at Public Citizen, those commissioners filed suit asking that the purported terminations be set aside. The press release is available at https://www.citizen.org/news/trump-firing-consumer-product-safety-commissioners-was-unlawful/ and the complaint is available at https://www.citizen.org/wp-content/uploads/ECF-1-Complaint-3.pdf.
Here, at Penn’s Regulatory Review. The entire piece merits reading, and is short, but here’s my favorite paragraph: The primary reason the CFPB gave for pulling the guidance documents back is its “current policy to avoid issuing guidance except where necessary and where compliance burdens would be reduced rather than increased.” In a very real sense, this […]
David Horton of California, Davis has written Do Arbitrators Follow the Law? Evidence from Clause Construction, 126 Colum. L. Rev. Forum — (forthcoming 2025). Here’s the abstract: Courts and scholars have long disagreed about whether arbitrators follow the law. In the past three decades, the stakes in this debate have soared as the U.S. Supreme Court […]
Here, in Law360. Judges Rao and Katsas, both Trump appointees, expressed concerns about whether the administration had taken final action, required for court review under § 704 of the APA, and what an injunction requiring the Bureau to fulfill its statutory mandate would look like. The third judge, Judge Pillard, an Obama appointee, seemed less […]
The Federal Trade Commission this week began work to enforce its new rule on unfair and deceptive fees. The Commission sent a warning letter to ticket reseller StubHub alleging that the company may have already violated the rule which went into effect May 12. The rule, which specifically applies to live-event ticketing and short-term lodging, […]
That’s the lesson from NCLC lawyer Lauren Saunders’s essay, A $1,000 Taxi? That’s What Consumer Protections Are For at OtherWords.org. Here’s a striking paragraph: I’m a consumer lawyer. I know that federal law requires the bank to investigate disputes about incorrect charges and to correct errors. I even wrote a long letter full of legalese and got my […]
Here in the American Banker (behind a paywall but should be available on Lexis). The article includes some troubling observations, including that despite a Paoletta memo claiming that the Bureau under Trump will focus on consumer fraud, the dismissed cases include at least one case involving deceptive marketing. The article does mention some cases that […]