In a must-read for consumers who value their right to criticize companies they do business with, Techdirt has compiled this list of businesses that employ contract language to try to silence criticism from customers. These companies threaten fines from $2,500 up to a mindboggling $100,000 for customer criticism. Earlier this year, as we've discussed, a […]
In a victory for consumers and the environment, the administration of New York Gov. Andrew Cuomo will impose a statewide ban on the controversial technique known as hydraulic fracturing or "fracking" for gas. Reuters quotes state health commissioner Howard Zucker: "The potential risks are too great, in fact not even fully known, and relying on […]
The leaked text of a multi-national trade agreement currently under negotiation reveals some troubling implications, explains Public Citizen this week in this press statement and this report. The text at issue, from the Trade in Services Agreement (TISA), would apply in fifty nations. As explained in the release: With respect to privacy protections, the leaked […]
Three years ago, the Consumer Financial Protection Bureau started its amicus program in which it looks for opportunities to file amicus briefs (and files them) in cases presenting important issues within the agency's many areas of operation. Reproduced below in full is a letter from the agency touting this important program. (Note that, in the […]
This week, the Pennsylvania Supreme Court affirmed a jury verdict against Walmart in favor of a class of more than 180,000 workers who were not paid for missed breaks and work after their shifts ended. The Court rejected Walmart's arguments against the form of the class proceedings. Our friends at Public Justice break down the […]
Wenli Li of the Philadelphia Fed, Ishani Tewari of the Yale School of Management, and Michelle J. White of California, San Diego's Department of Economics and the National Bureau of Economic Research have written Using Bankruptcy to Reduce Foreclosures: Does Strip-Down of Mortgages Affect the Supply of Mortgage Credit? Here's the abstract: We assess the […]
Check out this video of her speech — it's a great overview of what's wrong, both substantively and procedurally, with the Dodd-Frank amendment incorporated in the spending bill the House passed last night. (The speech was delivered Wednesday, before the House's vote Thursday.)
A productive week for the CFPB. The agency took enforcement actions against two debt-relief outfits who, according to the agency, charged illegal fees and made false promises about rates and/or results, among other nefarious activity. Read the details here. Separately, following up on its report focusing on the effect of unpaid medical debt on consumer […]
Colorado's cap on payday loan interest rates has had some success, Lauren explains, but it's not enough: she calls for a stricter cap and front-end underwriting requirements that ensure that borrowers are actually able to repay their loans. Read her whole piece here.
A Pennsylvania appeals court yesterday reversed the sale of a home that was triggered by an unpaid tax bill of $6.30 in 2004, which with interest had increased to $235 by the time the property was sold at auction in 2011. The court held that the auction sale of the $280,000 home was not valid […]