Four former servicemembers brought a putative class action against Citibank, alleging that it was violating the Servicemembers Civil Relief Act (SCRA) by charging certain interest rates on their credit card balances. Citibank moved to compel arbitration pursuant to the terms of the relevant credit card account agreements, but the district court denied the motion, citing […]
Yesterday, over a dissent, the Fifth Circuit vacated the FTC’s CARS rule, which protected consumers from unfair and deceptive practices by car dealers. While the challengers lobbed many wide-ranging arguments that called into question the FTC’s authority broadly, the Fifth Circuit based its ruling solely on the agency’s failure to issue an Advanced Notice of […]
As we await agency reversals on pro-consumer positions, a decision today from the Eleventh Circuit reminds us that many pro-consumer rules may be eliminated without the Administration doing anything. In 2023, the FCC issued a rule defining the term “prior express consent” as used in the TCPA, and providing that a consumer’s consent to a […]
It’s not surprising that the Wall Street Journal and the financial industry has called for CFPB Director Chopra’s firing. But it’s also not surprising that groups that work for the benefit of consumers have not echoed that call.
Yesterday, Jeff posted that Rohit Chopra has indicated he will stay on as CFPB Director until he is asked to leave. Today, an article in the American Prospect reveals that the Administration is having difficulty finding a replacement for Chopra, even on an Acting basis.
Here (behind paywall but a short version is available here). Excerpt: “We have a lot of investigations in the pipeline,” Chopra said. “There is a ton of work that is moving forward, but I’m really hopeful that no matter what the future holds, there is going to be strong support for some of our rulemakings.”
Ian Ayres of Yale and Gregory Klass of Georgetown have written How to Use the New Restatement of Consumer Contracts: A Guide for Judges. Here’s the abstract: In the absence of major legislation or regulatory action, U.S. consumers will continue to look to courts and the common law for protection when businesses engage in unfair and […]
On February 7, CFPB General Counsel Seth Frotman gave a talk at the University of Michigan, The Federal General Counsel, Law, and Our Democracy at a Crossroads. The entire speech is worth a read, but I want to quote one part that describes Frotman’s view of what the CFPB should do and provides a test […]
In some recent postings, I’ve focused on what the Trump administration will do on consumer protection, but I don’t want to lose sight of what the people who served in the CFPB, FTC, and a variety of other agencies did during the last four years to protect consumers. Consumers are much better off for their […]