by Jeff Sovern Here. It has more information than the article abstract, but is a lot shorter than the article. The article itself is here. In other debt collection news, Law360.com has its preview of the debt collection rules here (behind paywall). The headline: CFPB Enforcement Actions Could Guide Debt Collection Rules. UPDATE: InsideARM.com reports […]
The American Banker (behind paywall) and Bloomberg report speculations.
In this short essay (subscription possibly required), public-interest lawyer Arthur Bryant explains why he thinks the Supreme Court's decision in Spokeo v. Robins is good news for consumers seeking to enforce their rights to statutory damages.
by Jeff Sovern We now have reason to believe that validation notices fail to convey to consumers the information Congress wants consumers to have. If the CFPB addresses validation notices in its regulation, courts can simply follow the Bureau's lead. But it could be years before that regulation takes effect. What should courts do in the […]
The Hill reports that the chairman of the Federal Communications Commission on Friday told phone companies that they should start providing free technology for their customers to block robocalls and spam texts. Last year, The Hill explains, the FCC told wireless carriers that they could provide robocall-blocking technology said without running afoul of any rules. […]
Christopher T. Robertson of Arizona and Harvard's Petrie-Flom Center for Health Law Policy, Biotechnology, and Bioethics has written A Trojan Horse? How Expansion of the First Amendment Threatens Much More than the Regulation of Off-Label Drugs, forthcoming in the Ohio State Law Journal. Here is the abstract: Scholars, advocates, and courts have begun to recognize […]
by Jeff Sovern We need to make some revisions to our validation article discussion draft, in Part V A.1., beginning on page 27, and captioned "Did Respondents Understand that The Letter Said They Could Dispute the Validity of the Debt?" Consequently, please don't use that part of the article until the new version is on the web. […]
Time has this article, reporting that the Consumer Financial Protection Bureau "has reshaped the mortgage market and issued hefty penalties. But there is much to be done."
The U.S. Department of Education yesterday outlined a series of enhanced protections and customer service standards to guide the future of federal student loan servicing practices. The policies were outlined in a memorandum to Federal Student Aid (FSA) and developed in consultation with the Department of the Treasury and the Consumer Financial Protection Bureau. The […]
Here. Here's the beginning of the Executive Summary: Lenders normally want borrowers who will pay back their loans in full. This seems obvious—otherwise, won’t the lender lose money? Yet in the high-rate installment loan market, the normal incentive to make affordable loans does not work. When loans have high interest rates, lenders may seek out […]