by Jeff Sovern The House passed the Financial Choice Act, H.R. 10, which would cripple the CFPB. According to Law360's Evan Weinberger, the vote was 233-186, and as expected followed party lines.
For our readers who are following the many suits against Trump and are civil procedure buffs: We've previously posted (here and here) about an unfair competition suit by a D.C. wine bar against Trump in his personal capacity and his new D.C. hotel. The suit was filed in local court in D.C. (the D.C. Superior Court). The […]
Here. The whole piece is worth a read, but here's an excerpt: The bill would take away the CFPB’s ability to inspect banks, mortgage brokers, foreclosure relief firms, student and payday lenders, debt collectors, credit reporting agencies and auto financing companies to ensure they accurately disclose credit terms to borrowers and that they comply with […]
In The New York Times: Mr. Otting worked closely with Treasury Secretary Steven Mnuchin when the two men ran OneWest. Formerly known as IndyMac, the lender had to be taken over by the federal government in the financial crisis of 2008 and was sold to a group of investors that included Mr. Mnuchin the next […]
American Banker reports: The House Financial Services Committee is threatening to file contempt charges against Consumer Financial Protection Bureau Director Richard Cordray for allegedly lying about the bureau's investigation into the Wells Fargo scandal. In a 15-page report released Tuesday by Republican staff, the committee claimed that the CFPB has not produced records showing that […]
The Consumer Financial Protection Bureau explains in this blog post.
That's the name of this article by Nelson Schwartz. It describes the concierge doctors and high-frills medical care available, without significant wait times, to very wealthy people willing to pay steep prices. It contrasts that with what the non-rich get. (For instance, wait times for doctor appointments have been going up in recent years in most places.)
That's the topic of Fighting Fines & Fees: Borrowing from Consumer Law to Combat Criminal Justice Debt Abuses by law prof Neil Sobol. Here is the abstract: Although media and academic sources often describe mass incarceration as the primary challenge facing the American criminal justice system, the imposition of criminal justice debt may be a more pervasive […]
Here. Excerpt: On June 7, a Utah judge will decide whether more than 50 consumers defrauded by banking giant Wells Fargo in its fake account scandal will be forced to pursue claims one by one in a secret arbitration system. Even as the bank’s PR machine loudly trumpets a focus on restoring consumer trust, Wells […]
The House Rules Committee voted to permit House consideration last night. The Hill story is here. Excerpt: The House Rules Committee on Tuesday night cleared for a vote on the House floor a Republican effort to strip much of the Dodd-Frank Act. The powerful panel — the last stop for every bill considered by the […]