Ninth Circuit Holds “Parallel” Failure to Warn Claim Not Preempted by Medical Device Amendments

In an en banc ruling released today, the U.S. Court of Appeals for the Ninth Circuit held that the federal Medical Device Amendments do not preempt a patient's tort claim alleging that that manufacturer violated its state-law duty to warn of dangers when it did not report "adverse events" to the FDA, as required by […]

Paper Proposes Solution to Class Arbitration Problem

Emanwel J. Turnbull has written Opting Out of the Procedural Morass: A Solution to the Class Arbitration Problem, forthcoming in the Widener L. Rev. Here's the abstract: American class actions are internationally regarded as a procedural form to avoid and widely criticized in the United States. They have been narrowed and restricted by U.S. statutes […]

More on the CFPB’s New Mortgage Rules

We just told you about the Consumer Financial Protection Bureau's new rules to curtail high-risk consumer mortgages. The CFPB has just issued this informative press release, a fact sheet on the new rules, and a summary of the ability-to-repay and qualified mortgage rule. Here are the key attributes of the ability-to-repay rule: Financial information has to be […]

CFPB to Issue Rules to Curtail High-Risk Mortgages

The Consumer Financial Protection Bureau thinks that people should not take on mortgages that they cannot afford. As explained in this Washington Post article, the CFPB today will issue new rules to protect consumers from high-risk mortgage borrowing. Among other things, the rules will define a "qualified mortgage" and say that a consumer cannot obtain […]

Second Circuit Holds That a State’s Parens Patriae Action Is Not Removable as a “Class Action” Under the Class Action Fairness Act

Consistent with rulings of other circuits, the Second Circuit held today, in Purdue Pharma v. Commonwealth of Kentucky, that a state's parens patriae action is not removable from state court to federal court as a "class action" under the Class Action Fairness Act. (A parens patriae action is one in which the state or other government […]

FTC Settles Complaint Alleging Mortgage Assistance Scam that Targeted Spanish-Speaking U.S. Homeowners

The FTC announced this morning that it has settled charges it brought against related companies that allegedly peddled fake mortgage assistance relief to financially distressed Spanish-speaking homeowners in the U.S. In July 2012, the FTC filed a complaint alleging that the defendants, operating from the Dominican Republic, with violating the FTC Act and the Mortgage […]

FTC Settles Claims Against Dietary Supplement Manufacturer

In 2010, the FTC charged Iovate Health Sciences U.S.A. and two affiliated Canadian companies with deceptively advertising that supplements called Accelis, nanoSLIM, Cold MD, Germ MD, and Allergy MD could help consumers lose weight or could treat and prevent colds, flu, and allergies. In settling with the FTC, Iovate agreed to pay $5.5 million for […]

Are the New Mortgage Foreclosure Settlements a Bad Deal for Consumers?

By now, you have probably heard of the two new mortgage foreclosure settlements with federal regulators, one in which 10 banks have settled for $8.5 billion. (In the other settlement, mega-lender Bank of America will pay Fannie Mae almost $10.4 billion. mostly to buy back bad mortgages it had earlier sold to Fannie.) $3.3 billion […]

Compared to 2012, the Just-Enacted Tax Bill Hikes Taxes for Nearly Every U.S. Worker

by Brian Wolfman The President campaigned emphatically on a tax plan that would raise taxes for people making more than $250,000. He was equally emphatic that he would not abide a tax bill that would raise taxes on middle-income working families. He said this many times. Democrats made the same point: We can't let the […]