The online publication Kansas City infoZine reports: Attorney General Chris Koster has obtained an agreement with eight online payday loan operations to shut down payday loan operations in Missouri, provide $270,000 in consumer restitution, and erase all loan balances for Missouri consumers. … The Attorney General’s Office received 57 complaints from consumers who were collectively […]
by Jeff Sovern The American Banker had an article this week, Could the Fight Over Cost-Benefit Analysis Kill Reg Relief? that made some interesting points. After noting that Senate Banking Committee Chair Richard Shelby advocates more cost-benefit analysis, the author, Victoria Finkle, wrote: "The idea of rigorous cost-benefit analysis is like motherhood and apple pie […]
The Hill reports: The chairs of the congressional progressive, Hispanic and Black caucuses are urging financial regulators to crack down on payday loans. In a joint letter to Consumer Financial Protection Bureau Director Richard Cordray, Congressional Progressive Caucus Co-Chairs Keith Ellison (D-Minn.) and Raúl Grijalva (D-Ariz.), Hispanic Caucus Chair Linda Sánchez (D-Calif.) and Black Caucus […]
As we reported last week, the Administration recently released a proposed "Privacy Bill of Rights." Since then, both consumer groups and industry groups have noted their dissatisfaction with the Administration's draft. An article today in the Christian Science Monitor reviews the complaints of both sides.
Georgene M. Vairo of Loyola Los Angeles haw written Is the Class Action Really Dead? Is that Good or Bad for Class Members? 64 Emory Law Journal 477 (2014). Here's the abstract: Recent Supreme Court decisions have tightened up the standards for obtaining class certification and virtually eliminate class arbitration as well. However, while the […]
by Paul Alan Levy An increasing number of ISP’s have come to see themselves as more than stakeholders in controversies about whether their users have so clearly exceeded their First Amendment rights that their identities must be revealed in response to court subpoenas. Twitter, for example, declined in the Macao Music case to disclose the […]
About a year ago, we posted about the electric-car company Tesla, which wants to sell cars directly from its stores to consumers, and efforts by car dealers to interfere with Tesla's business model on, you guessed it, consumer-protection grounds. Our earlier post dealt in particular with Tesla's difficulties selling its cars in New Jersey. Now, […]
In a settlement with the Department of Justice, JP Morgan Chase has agreed to pay more than $50 million to more than 25,000 homeowners through cash payments, mortgage loan credits, and loan forgiveness. The payment will resolve DOJ accusations that JP Morgan Chase filed robo-signed mortgage documents in bankruptcy courts. The DOJ press release explains: […]
When a trial court judge responds to an amicus brief by reversing her published position on outcome of a motion, and begins her opinion with an expression of gratitude to “Public Citizen for its excellent and informative brief,” its author cannot help feeling a bit of glow. But Magistrate Judge Beeler’s opinion in Macao Music […]