The OCC regulates national banks and has some power over consumer protection issues. The Financial Times has the story here. Excerpt: If confirmed by the Senate, Mr Otting is likely to be “a reliable ally” for Mr Mnuchin and “a steady proponent for bank deregulation”, said Isaac Boltansky, analyst at Compass Point in Washington.
Here, in The Hill. Quick served as senior counsel to the Senate Banking Committee and senior attorney for OCC. Excerpt: Trump is well on his way to effecting change in financial regulation through his appointments, and Congress appears poised to stall new financial regulation through changes to the rulemaking process, most significantly through the Regulatory Accountability […]
The Federal Trade Commission announced today that, in a case filed by it and the Florida Office of the Attorney General, a federal district court judge has entered eight orders against an intertwined web of Orlando-based individuals and companies that bombarded consumers with illegal robocalls from “Card Member Services,” pitching worthless credit card interest rate […]
Politico reports today that the Department of Education is considering delaying two rules that are scheduled to go into effect on July 1 — the borrower defense rule, which concerns student loans, and the gainful employment rules, which cuts off federal funding for for-profit colleges that provide students with more debt than benefit. The article […]
Andrea Freeman of Hawai'i has written Racism in the Credit Card Industry, 95 North Carolina Law Review 1071 (2017). Here's the abstract: In a social and financial climate characterized by deep racial and socioeconomic divide, racism against credit card applicants and consumers is a core piece of the systemic inequality that perpetuates dramatic disparities in wealth, […]
The headline is Outcry Over EpiPen Prices Hasn’t Made Them Lower. Excerpt: By August, the company, which sells thousands of drugs and says it fills one in every 13 American prescriptions, was making mea culpas and renewing its promise to “do what’s right, not what’s easy,” as the company’s mission statement goes. * * * […]
A company called Magellan Diagnostics touts itself as "the most trusted name in lead testing." But the Food and Drug Administration disagrees, saying that many of the company's products are inaccurate. The problem may go all the way back to 2014. And the problem appears to be false negatives — some of the company's lead […]
Sarah Duranske of Stanford has written This Article Makes You Smarter (Or, Regulating Health and Wellness Claims), Forthcoming in the American Journal of Law and Medicine. Here is the abstract: Information has power – to inspire, to transform, and to harm. Recent technological advancements have enabled the creation of products that offer consumers direct access […]
Here. Excerpt: [C]alls are quietly deposited through a back door, directly into a voice mail box — to the surprise and (presumably) irritation of the recipient, who cannot do anything to block them. Regulators are considering whether to ban these messages. They have been hearing from ringless voice mail providers and pro-business groups, which argue […]
Stephanie Plamondon Bair of Brigham Young has written Dynamic Rationality, Forthcoming in the Ohio State Law Journal. Here is the abstract: In 1998, Christine Jolls, Cass Sunstein, and Richard Thaler published A Behavioral Approach to Law and Economics, one of the most important pieces of scholarship in decades. Their Article famously proposes a departure from […]