Feds Seek Dismissal of Suit Challenging Dodd-Frank and the CFPB

Last June, we told you about a federal-court suit filed by a Texas Bank, the Competitive Enterprise Institute, and the 60 Plus Association challenging various provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the constitutionality of the Consumer Financial Protection Bureau. Here is the complaint. The federal government has now moved […]

More From Creola Johnson on Payday Lending

Creola Johnson of Ohio State has written Congress Protected the Troops: Can the New CFPB Protect Civilians from Payday Lending? 69 Washington & Lee Law Review 649 (2012). Here's the abstract: In 2007, Congress enacted a law, commonly referred to as the Military Lending Act (MLA), which placed a 36% interest rate cap on several […]

More on George Will’s Criticism of the CFPB, and a Defense of the CFPB’s Use of Its Anti-Abuse Authority

Recently, on this blog, Jeff Sovern went after George Will's attack on the Consumer Financial Protection Bureau, rightly noting that the CFPB's exercise of its regulatory and enforcement powers generally are not terribly different from what regulatory agencies have been doing for decades. Now, Jean Braucher has posted this extensive response to Will's piece. In doing […]

Ingorance About Obamacare Could Jeopardize Its Effectiveness

Keeping health care costs down under the Affordable Care Act depends significantly on increasing particiption in private health care plans (which, if the Act works as contemplated, would be spurred in part by subsidies provided under the law). As explained in this article by Sarah Kliff, because many people do not know about the law's […]

What Proportion of Consumers With Material Errors in Their Credit Reports Complain to Credit Bureaus?

by Jeff Sovern For the credit reporting section of our casebook, I've been looking into studies of credit report errors.  The FTC is in the process of conducting a long-term study of that subject, and along the way has conducted some pilot studies.  One such pilot study subjected the credit reports of 128 people to in-depth […]

Paper on Defending Foreclosure Actions

Marcia Johnson of Texas Southern and Luckett Anthony Johnson have written Defending Foreclosure Actions, 49 Real Estate Law Journal 516 (2012). Here's the abstract: With the rising incidences of residential foreclosures, many homeowners are overwhelmed by the foreclosure process and anticipated costs and often opt to vacate the premises without offering any defense. The American justice […]

FTC and CFPB join forces to fight deceptive mortgage ads

In press releases yesterday, here and here, the Federal Trade Commission and the Consumer Financial Protection Bureau announced that they are teaming up to fight deceptive mortgage advertising. The FTC sent warning letters to 20 real estate agents, home builders, and lead generators, urging them to review their advertisements for compliance with the Mortgage Acts […]

George Will Attacks the CFPB

by Jeff Sovern Here.  It's the usual right-wing attack, most of which has been said before.  I refuted some of what he says in August of 2011 in a column in the Pittsburgh Post-Gazette. One other point: Will complains that the Bureau will write law through case-by-case enforcement and that this creates uncertainty.  Apparently Will […]