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 […]

Supreme Court ERISA Case Could Affect the Viability of Personal-Injury Suits

By Brian Wolfman I'm writing about U.S. Airways v. McCutchen, an ERISA case set for argument in the U.S. Supreme Court on November 27. The case's outcome may affect the viability of some personal-injury suits. When people are harmed by consumer products, doctors' negligence, or in car crashes, for instance, they often incur medical expenses. […]

Does the Federal Government’s $4.5 BIllion Settlement of Criminal Charges Against BP Do Enough to Deter and Punish?

Does BP's settlement of criminal charges with the federal government do enough to deter and punish? Law professors talk about that question in this video, with one calling it "a drop in the bucket" given BP's deep pockets, the extent of the wrong doing, and the death and destruction caused by the BP spill in the […]

The State of Federal Arbitration Law and Waiver By Litigation Conduct

As many of our readers are aware, the Federal Arbitration Act (FAA) makes it difficult for consumers to enforce their rights in court when the standard form contracts that govern their employment relationships or their consumer purchases contain arbitration clauses. The Supreme Court has interpreted the FAA broadly. Does the FAA apply in state courts […]

The Federal Housing Adminstration May Need a Bailout

As the LA Times explains, "the Federal Housing Administration, which has played a crucial role in stabilizing the housing market, said it ended September with $16.3 billion in projected losses — a possible prelude to a taxpayer bailout. The precarious financial situation could force the FHA, which has been self-funded through mortgage insurance premiums since […]

How Common is Identity Theft?

by Jeff Sovern Very common.  In 2010, according to one study, seven percent of American households were victimized by identity thieves, costing them a total of about $13.3 billion, or, for those who experienced losses of at least one dollar caused by the misuse of personal information, an average loss of $13,160. See Lynn Langton, Identity Theft […]