This article by Amanda Bronstad discusses the Supreme Court's recent denial of review of a class-action decision from the Seventh Circuit concerning whether Rule 23 contains a heightened "ascertainability" requirement. Bronstad's article asks whether the Court's refusal to hear the case is related to Justice Scalia's absence. For one perspective on (and a description of) "ascertainability," go here.
According to this article by Zach Carter, "Democratic National Committee Chair Rep. Debbie Wasserman Schultz (D-Fla.) … is co-sponsoring a new bill that would gut the [Consumer Financial Protection Bureaus's] forthcoming payday loan regulations. She's also attempting to gin up Democratic support for the legislation on Capitol Hill[.]" Here's an excerpt: The misleadingly titled Consumer Protection and Choice […]
The Post reports: Some 7 percent of advisers have been disciplined for misconduct, according to a working paper released this week by the University of Chicago Booth School of Business. Misconduct included selling clients investments that weren’t suitable or not consulting with them before making trades and other investment decisions. And contrary to what some […]
CNN published this week an interview with Miami Beach's "chief resiliency officer" about the threat. Prefacing the discussion, the interviewer notes of the city, "a 90,000-person island municipality off the coast of Miami proper," that "At even 2 to 4 feet of sea level rise, the island will be considerably flooded. The National Oceanic and […]
A recent report by the Greenlining Institute and the Urban Strategies Council, "Locked Out of the Market: Poor Access to Home Loans for Californians of Color," highlights the stark disparities between whites borrowers and borrowers of color when it comes to access to home loans. Among the report's findings: -In 2013, Hispanics were nearly 40% of CA’s […]
Jared Bernstein and Ben Spielberg explain of the Center on Budget and Policy Priorities explained in the Washington Post on Friday that studies have debunked this argument against raising the minimum wage at the local level. Read the piece here.
In a speech February 25 at the CFPB's Consumer Advisory Board meeting, CFPB Director Richard Cordray identified nine "key areas where we hope to make substantial progress over the next two years." He also noted, however, that "these goals do not capture all of the important work we are doing." The nine goals are: First, […]
Here. Excerpt: In a push for transparency since the 2008 financial crisis, regulators require banks to clearly disclose and explain the terms of just about every financial product, including credit cards and mortgages. But overdraft practices still come with hidden costs and confusing terms, bank customers, lawyers and consumer advocates say. * * * It […]
by Jeff Sovern I've gradually been making my way through Chris Hoofnagle's new book, Federal Trade Commission Privacy Law and Policy (more about that below). For those who want to sample the book before ordering it, Chris has posted the Introduction and an excerpt to SSRN here. The book opens with an interesting history of […]