by Jeff Sovern Here, in the NY Daily News. My latest op-ed. Excerpt: You might not expect that in the year 2022, businesses would go to court asserting a right to discriminate. Yet that is essentially what the Chamber of Commerce and various banking groups did last month when they sued the Consumer Financial Protection Bureau. The […]
That's the takeaway from Evan Weinberger's Bloomberg Law report, CFPB Funding Decision Is Grist for Agency Enforcement Fights. Excerpt: At least two companies targeted in CFPB enforcement actions have already pointed to the ruling to ask other courts to dismiss the actions on constitutional grounds. Others will wield the US Court of Appeals for the Fifth […]
Here. Definitely worth a read.
Yesterday evening, a federal court in Missouri dismissed a challenge by six states (Nebraska, Missouri, Arkansas, Iowa, Kansas, and South Carolina) to the Department of Education's plan to cancel $10,000 (or $20,000 for Pell grant recipients) of federal student-loan debt. The court held that the states lacked standing to bring the case. The district court […]
This afternoon, Justice Amy Coney Barrett denied, without comment, a request from a taxpayers’ association in Wisconsin to enjoin the Biden Administration's plan for student debt relief. The lower court had held that the plaintiff lacked standing. The New York Times has the story, here.
Read the opinion. The court summarized its ruling this way: Community Financial Services Association of America and Consumer Service Alliance of Texas challenge the validity of the Consumer Financial Protection Bureau’s 2017 Payday Lending Rule. The Plaintiffs contend … that the Bureau is unconstitutionally structured. [We agree with the Pplaintiffs that] Congress’s decision to abdicate […]
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Mark A. Lemley of Stanford has written The Benefit of the Bargain. Here's the abstract: Contract law has lost its way. Designed as a way to allow people to agree, it has over time become a means for large businesses to unilaterally impose terms and conditions on others. In large part that is a function of […]
We received the following Call for Papers: The AALS Section of Financial Institutions & Consumer Financial Services will host the first AALS FinReg Conference on November 4, 2022, in person, at the Antonin Scalia Law School, in Arlington, Virginia. This annual workshop brings together scholars focused on financial regulation to present their scholarly works. We […]
The National Consumer Law Center is holding its annual Consumer Rights Litigation Conference in person for the first time since 2019. Details about the conference, to be held November 10-13 in Seattle, are here.