Five U.S. senators, led by former Connecticut Attorney General (now Senator) Richard Blumenthal, has called on the Fed and the FDIC to ban payday lending by federally regulated banks. The Consumerist has a nice write up.
This tax advice from Holly Patreus, the Consumer Financial Protection Bureau's head of Servicemember Affairs, is directed at members of the military and their families, but much of the advice is useful to consumers generally.
Edward A. Morse of Creighton and Vasant Raval of Creighton Business have written Private Ordering in Light of the Law: Acheiving Consumer Protection through Payment Card Security Measures, 10 DePaul Business & Commercial Law Journal 213 (2012). Here's the abstract: A private ordering regime has developed within the payment card industry to define appropriate security […]
Omri Ben-Shahar of Chicago has written Arbitration and Access to Justice: Economic Analysis. Here is the abstract: Mandatory arbitration clauses in consumer contracts are widely regarded as problematic because they limit consumer’s access to judicial forums, to fair procedures, and potentially to any kind of remedy. But rather than looking at consumers as a group, […]
by Paul Alan Levy I often write in this space about baseless lawsuits brought by businesses to suppress criticism, although at the same time I have acknowledged that, sometimes, litigation may be a sound response to baseless attacks that are having a genuine untoward impact on reputation. In this interesting blog post on a web […]
This week, the Supreme Court decided Already v. Nike. There, in a trademark suit instituted by Nike, Already counterclaimed that Nike's trademark on its "Air Force 1" sneakers is invalid. Applying the Court's standard for when a once justificiable case becomes moot under Article III's case-or-controversy requirement — “a defendant claiming that its voluntary compliance […]
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 […]
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 […]
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 […]