The full platform is here. Here are excerpts on consumer protection issues: The Republican vision for American banking calls for establishing transparent, efficient markets where consumers can obtain loans they need at reasonable rates based on market conditions. Unfortunately, in response to the financial institutions crisis of 2008-2009, the Democratic-controlled Congress enacted the Wall Street […]
This article by Steven Mufson explains that "the fuel efficiency standards championed by President Obama in 2012 will fall short of the 54.5-miles-per-gallon 2025 target the administration set because consumers are buying more pickup trucks, vans and sports utility vehicles than expected, according to a new technical assessment report by the Environmental Protection Agency and the […]
This short article by Gayatri Rao, the Food and Drug Administration's director of Orphan Products Development, explains that, in recent years, drug companies have been filing many more "orphan drug" applications than they used to. Orphan drugs are drugs aimed at treating people with rare diseases. Drug companies sometimes say that it's too costly for them […]
by Jeff Sovern As we have previously noted, the CFPB has scheduled a July 28 debt collection field hearing, and could announce the beginning of the SBREFA process, leading to a rule-making, that day. NCLC's April Kuehnhoff speculates that the Bureau will also release the results of its debt collection studies then. The Bureau's arbitration study […]
July 15, 2016 – District Court Enters Permanent Injunction Against Minnesota Food Manufacturer and Company’s Managers to Prevent Distribution of Adulterated Food Products July 12, 2016 – Residents of Three States Charged with Unlawful Sale of Dietary Supplements July 11, 2016 – Southern California Man Pleads Guilty for His Role as Sales Manager in Fraudulent […]
by Jeff Sovern Last week, I posted the abstract for our article, Are Validation Notices Valid? An Empirical Evaluation of Consumer Understanding of Debt Collection Validation Notices. In this post, I wanted to write about something that didn’t appear in the abstract: the extent to which respondents thought a collection letter said the collector would […]
by Jeff Sovern I have now finished the audio version of David Dayen's book, Chain of Title. With two caveats, I think it's an excellent book. The caveats: first, I don't know enough about the events it describes to know how accurate it is, and second, I lose some comprehension with audiobooks, as opposed to […]
Here. The Bureau is likely to announce the Small Business Regulatory Fairness Enforcement Act (SBREFA) proceeding that day, which will entail giving some information about what its proposed debt collection rules are likely to look like.
The story is headlined Pence VP Pick Could Shape Trump's Banking Policy (free content). Here is what the article says about Pence's view of the CFPB: When the Consumer Financial Protection Bureau was just a legislative proposal, Pence objected to giving a new agency so much power; he would likely support efforts to reform the structure […]
The Consumer Financial Protection Bureau announced yesterday that it has ordered Santander Bank, N.A. to pay a $10 million fine for illegal overdraft service practices. Santander’s telemarketing vendor deceptively marketed the overdraft service and signed certain bank customers up for the service without their consent. In addition to paying the civil money penalty to the […]