The Washington Post reports: If you've used or heard of programs such as T-Mobile's Binge On or Music Freedom, then you're familiar with an increasingly common business tactic known as zero rating: the decision by a cellphone carrier to let you stretch your data plan by exempting some services, such as Spotify or Netflix, from your […]
by Jeff Sovern My co-author, Dee Pridgen, has co-authored with Gene A. Marsh a new version of Consumer Protection Law in a Nutshell (disclosure: I read and commented on some chapters in draft). One of the problems with teaching the course in recent years has been the lack of an updated companion volume that students could use […]
The Federal Trade Commission announced today: Damian Kutzner, one of the operators of a mortgage relief scheme that bilked millions of dollars from financially distressed homeowners, has agreed to a court order banning him from the debt relief business. The stipulated order resolves the [FTC's] complaint and the contempt charges against Kutzner. It also bans […]
The Consumer Financial Protection Bureau this week took action against two medical debt collection law firms and their president for falsely representing that letters and calls were from attorneys attempting to collect on a debt when no attorney had yet reviewed the account. The law firms also did not ensure the accuracy of the consumer […]
Here (behind paywall). The article lists various possible industry strategies for blocking the rule: fire CFPB Director Cordray before he can adopt the new rule or after it is adopted and appoint a new director who will rescind it; Congress could preempt the rule from taking effect through the Congressional Review Act or the Financial […]
Stanford Law Professor Janet Cooper Alexander believes that it does. The basic idea is that states and localities would empower private attorneys general to bring actions on behalf of the governmental entity (which would not be subject to arbitration clauses) for injured consumers, etc. Here's an excerpt from the web page at the link above: […]
by Jeff Sovern Announcement here. January 17 at 1, Eastern Time. Speakers: David S. Evans, David S. Evans, Chairman, Global Economics GroupNorman I. Silber, Senior Research ScholarYale University, Professor of Law, Maurice A. Deane School of Law at Hofstra University Deborah Goldstein, Center for Responsible LendingDaniel D. Sokol, Professor of Law, University of Florida Levin […]
We have seen a lot of articles and columns lately about the future of the Consumer Financial Protection Bureau and its director Richard Cordray. Jeff posted one such piece below. The American Banker yesterday posted this defense of the CFPB by Jeannette Quick, who has served as senior counsel to the Senate Banking Committee and […]
by Jeff Sovern Senator Sasse joined with Senator Lee in a letter to President-Elect Trump; The Hill has the story here. The letter doesn't mention that the Bureau has secured nearly $12 billion in relief for more than 27 million consumers, among other significant accomplishments.
Todd J. Zywicki of George Mason, and Geoffrey A. Manne and Kristian Stout, both of the International Center for Law and Economics, have written Behavioral Law & Economics Goes to Court: The Fundamental Flaws in the Behavioral Law & Economics Arguments Against No-Surcharge Laws. Here is the abstract: During the past decade, academics — predominantly […]