Read the court's very long opinion. The basic problem identified by the D.C. Circuit is that the CFPB is an independent agency run not by a multi-member commission (the members of which serve as checks on one another), but by one director (who may only be removed by the President for cause, see 12 U.S.C. […]
BY PAUL ALAN LEVY AND EUGENE VOLOKH There are about 25 court cases throughout the country that have a suspicious profile: All involve allegedly self-represented plaintiffs, yet they have similar snippets of legalese that suggest a common organization behind them. (A few others, having a slightly different profile, involve actual lawyers.) All the ostensible defendants ostensibly […]
by Jeff Sovern I meant to post this a long time ago, but then I got caught up teaching an intensive class, followed by an overload and didn't get to it. Anyway, here is a comment on the CFPB's proposed arbitration rule posted by law professors teaching consumer law clinics (we had previously covered a law […]
Richard Marcus of Hastings has written Bending in the Breeze: American Class Actions in the Twenty-First Century, 65 DePaul Law Review (2016). Here's the abstract:: It is always better to have the breeze at your back, but that surely has not recently been the case for class action proponents. At the risk of overstating, there is […]
The Wall Street Journal reports that Mylan agreed today to a $465 million settlement with the U.S. Department of Justice and other agencies over the classification of its anti-allergy EpiPen Auto-Injector under the Medicaid Drug Rebate program. The full article (subscription required) is here.
The Consumer Financial Protection Bureau has finalized a set of rules intended to protect prepaid account users. The new rule requires financial institutions to limit consumers’ losses when funds are stolen or cards are lost, investigate and resolve errors, and give consumers free and easy access to account information. The CFPB also finalized new “Know […]
The Third Circuit recently held that title insurers did not waive their ability to compel individual arbitration when attempting to do so earlier would have been futile under then-existing law. In Chassen, et al. v. Fidelity National Financial, Inc., et al., (Sept. 8, 2016), plaintiffs sought to recover hundreds of millions of dollars in claimed […]
The Federal Trade Commission announced today that, at the FTC's request, a federal court in Nevada has found that racecar driver Scott A. Tucker and several corporate defendants in a Kansas City-based payday lending scheme violated Section 5 of the FTC Act and has ordered them to pay $1.3 billion for deceiving consumers across the […]
That's the topic of this article by Jeff Lingwall. Here is the abstract: This Article examines the emerging use of “food forensics” to discover injury in class action litigation. Based on increased public interest in what goes inside food, plaintiffs have begun relying on statistical and chemical testing to verify label claims. The test results often spur […]
From a Washington Post column today by Katrina vanden Heuvel: Wells Fargo’s abuse of its customers — its employees opened some 2 million accounts and credit cards for depositors who may not have wanted them — has sparked deserved outrage. Sen. Elizabeth Warren (D.-Mass.) charged Wells Fargo chair and chief executive John Stumpf with “gutless […]