On Monday, Brian posted a link to Linda Mullenix's article, Ending Class Actions as We Know Them. But Professor Mullenix has more thoughts on aggregate litigation, appearing in Reflections of a Recovering Aggregationist, 15 U. Nev. L. Rev., (2014 Forthcoming). Here's the abstract: The past fifty years have experienced a radical reformation of civil litigation in […]
Professors Eric Fink and Roland Zullo have written Federal Student Loan Servicing: Contract Problems and Public Solutions Here is the abstract: One consequence of the 2007-2008 financial crisis was an abrupt shift from bank-based to direct federal student loans. This momentous change required the Department of Education to rapidly establish the capacity to service loans, […]
Ars Technica reported recently that Chief Judge Marsha Pechman of the Western District of Washington had ordered the identification ("unmasking") of hundreds of Amazon users who posted comments critical of the "nutritional supplements" sold by the company “Ubervita.” The article was completely accurate but the headline was somewhat overstated – Judge Pechman had only authorized […]
The CFPB’s Consumer Complaint Database is a publicly accessible, online database of consumer financial complaints. It includes anonymous information about the complaints received, including the date of submission, the consumer’s zip code, the relevant company, the product type, the issue the consumer is complaining about, and the company’s response. Although when a consumer enters information […]
Debra Pogrund Stark of John Marshall, Jessica M. Choplin a DePaul psychologist, Joseph A. Mikels, also a DePaul psychologist, and Amber Schonbrun McDonnell have written Complex Decision-Making and Cognitive Aging Call for Enhanced Protection of Seniors Contemplating Reverse Mortgages, 46 Arizona State Law Journal (2014). Here is the abstract: This article explains what reverse mortgages […]
In March 2013, the Department of Justice revealed that it was working with banking regulators to prevent fraudsters from accessing consumer bank accounts by choking off their access to electronic payments. DOJ calls the program "Operation Choke Point." See prior blog posts here and here. The Operation has come under attack from Republicans in Congress […]
by Jeff Sovern Here. To see why it is important to keep the CFPB's budget out of the appropriations process (just as with the other bank regulators), here's an excerpt from one of our posts from 2011 (the more things change, . . . ): To see why this matters, you have only to read New […]
That's the title of this piece by Steven Davidoff Simon. The piece describes how the American Apparel company hid sexual harrasment through a pre-dispute mandatory arbitration clause that it forced on its employees. Hat tip to Paul Bland.
As Bloomberg reports today, Citigroup Inc. agreed to pay $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis. But is it enough? The Bloomberg article goes on to quote Eric Holder praising the agreement: “The bank’s misconduct […]
That's the name of this article by law professor Linda Mullenix. Here is the abstract: Class actions have been a feature of the American litigation landscape for over 75 years. For most of this period, American-style class litigation was either unknown or resisted around the world. Notwithstanding this chilly reception abroad, American class litigation has […]