by Jeff Sovern One of the groups, the Woodstock Institute, has a report here. Among the reasons given are Wells Fargo's payday lending practices. The following excerpt from the Woodstock report has more: "Wells Fargo's mortgage servicing practices unfairly push some borrowers into foreclosure, devastating families and harming neighborhoods. Our clients continue to have their […]
Here. Behind a paywall, unfortunately. But here's a quote: In more than 2,000 letters responding to the CFPB's plan,bankers said several requirements — including a rigorous timeline for presenting borrowers with the new forms, limited deviation of estimated charges between initial and final disclosures, and an "all-in" annual percentage rate — will add constraints and […]
by Brian Wolfman Thousands of our readers follow the CL&P Blog by receiving a daily email with the full text of each post. That function has been "down" since around November 20. Thanks to the excellent technological sleuthing of CL&P contributor and computer geek Greg Beck, the problem has been fixed! Today, those of you […]
In case you missed it, last week the Washington Post had this interesting article describing a meeting between President Obama and seven of the world's most prominent economists. The meeting took place over 13 months ago. Nearly all of the economists told the President that the government hadn't done enough to effectively forgive the mortgage […]
Keep an eye on this case, which raises the question whether a defendant in a wage and hour case can make an offer of judgment under Rule 68 to the named plaintiff in a putative collective action under the Fair Labor Standards Act and thereby render the case moot whether the plaintiff accepts the offer […]
The Supreme Court handed down a unanimous per curiam decision this morning in Nitro-Lift Technologies v. Eddie Lee Howard. The Court ruled that an Oklahama Supreme Court's decision nixing contract provisions was a decision for an arbitrator (not the Oklahoma courts): State courts rather than federal courts are most frequently called upon to apply the […]
As you begin the online holiday shopping orgy, ask yourself whether Google is manipulating your search for the product of your dreams and driving you to places that it wants you to go (and away from other things that might interest you).That's the topic of this article by Grace Nasri. Here's an excerpt: In a […]
We have reported here and here about the high level of errors in credit reports. The Fair Credit Reporting Act gives consumers the right to have erroneous credit reports corrected. But the consumer needs to prove the error to the credit reporting agency. This article by Kelly Dilworth describes "10 surefire steps" to get errors […]
Nearly a year and a half ago, we covered the topic of drug industry influence on medical journals and research. The lead story in yesterday's Washington Post treats the topic in detail, noting that even the most prestigious medical journals have trouble avoiding bias in favor of the industry. The Post piece focuses on a […]
CL&B blogger Alan M. White of CUNY has written Losing the Paper – Mortgage Assignments, Note Transfers and Consumer Protection, 24 Loyola Consumer Law Review 468 (2012). Here's the abstract: In this article, I survey the state of the mortgage loan transfer system, the legal rules that govern it, and the widening gap between those […]