by Jeff Sovern Brian posted earlier that the CFPB has announced a field hearing on arbitration for March 10. Because the CFPB often schedules such hearings when it announces something, it is probably going to release the next installment in its arbitration report (maybe the final installment) in conjunction with the hearing. As Brian also […]
As many of our readers know, as required by the Dodd-Frank financial reform legislation, the Consumer Financial Protection Bureau is conducting a study of arbitration as a dispute-resolution mechanism for matters with the Bureau's regulatory reach. After the study, the CFPB is authorized to take regulatory action consistent with its study's results. (We addressed the […]
From the New York Times: After two years of imposing increasingly stiff penalties on automakers that overstate their fuel economy ratings, federal regulators on Monday said they would tighten guidelines used in determining the mileage advertised to consumers. Next year, automakers will face stricter rules for conducting a crucial test or face an audit by […]
We've discussed before the fight between federal regulators and airbag manufacturer Takata over whether the company would issue a nationwide recall on defective airbags. The confrontation is escalating. As the New York Times reported Friday: federal regulators said on Friday that they would begin to fine the Japanese auto supplier $14,000 a day, saying it […]
Consumer Financial Protection Bureau Chairman Richard Cordray spoke yesterday at a meeting of the National Association of Attorneys General. His remarks are posted here. Chairman Cordray discussed CFPB's efforts to address deceptive marketing, debt traps, "dead ends" (a discussion of credit scores and debt collection), and discrimination.
Though the definition varies (go here), a patent troll generally is thought of as a person or entity that buys patents and then enforces the patents through litigation against accused infringers to collect licensing fees. The troll has no intent to exploit the patent for itself — that is, no plan to use the patent […]
Law professors Anthony Casey and Eric Posner attempt to answer that question in A Framework for Bailout Regulation. Here is the abstract: During the height of the financial crisis in 2008 and 2009, the government bailed out numerous corporations, including banks, investment banks, and automobile manufacturers. While the bailouts helped end the financial crisis, they […]
By guest blogger Peter A. Holland In a time of limited resources, perhaps a new model is emerging of joint CFPB/State Attorney General enforcement actions. The recent joint action by the Bureau and Maryland Attorney General Brian Frosh provides a nice case study. Recently, Maryland Attorney General Brian Frosh and the Consumer Financial Protection Bureau […]
Cynthia R. Farina, Mary Newhart, and Cheryl L. Blake, all of Cornell, have written The Problem with Words: Plain Language and Public Participation in Rulemaking, George Washington Law Review (2015 Forthcoming). Here's the abstract: The connection between more understandable rulemaking materials and broader, better public participation seems obvious, Yet the series of Presidential and statutory […]
by Jeff Sovern As law students, law professors, and lawyers know, most law reviews are edited by law students, which means that law students select the articles that appear in their journals. The prime submission season is just underway, and so newly-minted law review editors—most in their second year of law school—are choosing among the […]