We received the following announcement: We’re Hiring A Policy Director! At the UC Berkeley Center for Consumer Law & Economic Justice, we work to establish equity and fairness in the marketplace. We believe that building economic justice means developing and enforcing laws that fight fraud and deception, that protect low-income communities and communities of color, […]
The Sixth Circuit today vacated a district court’s certification of 10 classes relating to claims about Nissan’s automatic electronic braking systems. The court first held that the district court had inadequately considered commonality and predominance. It then went onto address a question that has divided the circuits over the past decade- whether expert testimony considered […]
The Consumer Financial Protection Bureau this week issued a final rule to define larger players in the market of “general-use digital consumer payment applications.” Under the rule, the bureau institutes supervisory authority over large nonbank payment app providers to assess their compliance with consumer financial laws. This covers apps that are used for consumers’ general use […]
Courts often grapple with the question of when an agency’s action is final for various purposes. And the answer can be different for different purposes–particularly since various statutory provisions related to judicial review use different words or phrases. For example, 47 U.S.C. s. 402 allows parties to seek review of certain FCC actions within “thirty […]
More American households are accessing the banking system. According to an FDIC survey released this month, 96 percent of all U.S. households had bank accounts in 2023. The survey, conducted biennially with the U.S. Census Bureau, found little difference between 2023 and the previous 2021 data, but showed a marked improvement from the 2011 survey […]
The Federal Trade Commission reported Friday that complaints about unwanted calls are dropping – and they have been doing so for three straight years. Complaints of unwanted calls reported in 2024 decreased more than 50% from the complaints recorded in 2021 (5 million+ complaints in 2021 to ~2 million in 2024), according to FTC’s Do […]
Here. The Consumer Finance Monitor podcast episode consists of an interview with Cornell’s Dan Awrey about his working paper “Money and Federalism,” “in which he advocates for the enactment of Federal legislation creating a federal charter for non-banks engaged in the payments business, like PayPal and Venmo.”
The Consumer Financial Protection Bureau has released a report examining federal and state-level privacy protections for consumers’ financial data. The report notes that protections under federal regulations for financial data have limits. Yet, many new state data privacy protections exempt financial institutions and consumer financial data covered by federal law, even though states generally have […]
The Consumer Financial Protection Bureau issued results from its Student Loan Borrower Survey, providing insights into the effects of student loan debt relief programs and the challenges borrowers face in navigating repayment options. The survey, conducted between October 2023 and January 2024, gathered data from a representative sample of student loan borrowers as the federal […]
After Meta, parent company of Facebook, acquired Instagram and WhatsApp, the FTC brought Sherman Act antitrust claims against the company in 2020. The district court had previously denied a motion to dismiss, and, yesterday, denied both parties’ cross-motions for summary judgment–finding the case must go to trial. In so doing, though, the court commented that […]