WaPo has the story here. excerpt: Ramirez's impending departure from the FTC is likely to leave the agency shorthanded with three vacancies on the five-member panel. With one Republican and one Democrat remaining, the FTC will likely be deadlocked in a partisan tie until the Trump administration can fill the other vacancies, which could take months. […]
Patch.com reports: [New York] Attorney General Eric T. Schneiderman announced Thursday the resolution of a four-year investigation of a Citigroup subsidiary that had overcharged over 47,000 of its customers more than $22.5 million in fees. After the Attorney General’s Office launched its investigation, Citigroup Global Markets, Inc revised its policies and procedures to address the […]
Here. Excerpt: House Financial Services Committee Chairman Jeb Hensarling, a Dallas Republican, has griped that the agency is “the single most powerful and least accountable federal agency in all of Washington.” He has pushed for the agency to be led by a bipartisan commission, rather than a single director. Neugebauer has endorsed that proposition, filing […]
In November, we linked to Aditya Bamzai's blog post at Notice and Comment arguing that President-Elect Trump could fire CFPB Director Cordray on the first day of his presidency. Brianne Gorod, Chief Counsel at the Constitutional Accountability Center, has replied on Notice and Comment in a post titled Why the CFPB Director Shouldn’t Be Going Anywhere.
Here. Quoting from the Bureau's release: Consumer Financial Protection Bureau (CFPB) report released today found that over one-in-four consumers contacted by debt collectors felt threatened. The report was drawn from the first-ever national survey of consumer experiences with debt collectors. Over 40 percent of consumers who said they were approached about a debt in collection […]
"The Federal Communications Commission is alerting consumers to be aware of callers falsely offering lower credit card payments or interest rates, credit card debt relief, and improved credit scores. These scams can be more common during and after the holiday season when many consumers carry more debt than at other times of year. The FCC […]
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 […]