Given the pervasiveness of subscription contracts, regulation of such contracts has become a much more important consumer protection topic. And here is an article that tells us how to do that: Kaitlin Ainsworth Caruso of Maine and Prentiss Cox of Minnesota’s Silence as Consumer Consent: Global Regulation of Negative Option Contracts, American University Law Review, […]
In a decision issued today, New York’s Appellate Division for the First Department reversed a decision of the state supreme court that had ordered Google and GoDaddy to identify BehindMLM, the author of a blog about multilevel marketing schemes, and quashed subpoenas to Google (the host of the blog) and GoDaddy (the registrar of the […]
The Supreme Court today issued a unanimous decision on an issue concerning the scope of preemption under the National Bank Act. In this case, a borrower sued Bank of America for failing to pay interest on his mortgage escrow account, as required by New York law. The bank argued that the National Bank Act preempts […]
Washington, D.C. or Texas. Which jurisdiction will ultimately hear the merits of an industry lawsuit challenging the Consumer Financial Protection Bureau’s rule to limit credit card late fees? For the second time since the industry lawsuit against the CFPB was filed in March, the Fifth Circuit Court of Appeals paused a U.S. District Court for […]
The Federal Trade Commission sent its annual report to the Consumer Financial Protection Bureau on the FTC’s 2023 enforcement and related activities on the Truth in Lending Act, Consumer Leasing Act, and Electronic Fund Transfer Act. The report highlights the FTC’s enforcement actions and initiatives under these laws and their implementing regulations, including in the […]
Piotr Tereszkiewicz of the Jagiellonian University in Krakow – Faculty of Law and Administration and KU Leuven – Faculty of Law has written Cruising Beyond Car Dealer Dominance, University of Michigan Journal of Law Reform, Forthcoming. Here’s the abstract: The automotive industry plays a pivotal role in both the American economy and daily life. This Article contends […]
Claire Johnson Raba of Illinois-Chicago and California-Irvine and Dalié Jiménez of California- Irvine and Harvard’s Center on the Legal Profession have written Pay to Plead: Finding Unfairness and Abusive Practices in California Debt Collection Cases. Here’s the abstract: In this Article, we report on one of the largest studies of debt collection lawsuits ever attempted. We […]
From today’s decision in Coinbase, Inc. v. Suski. Longtime readers will recall the empirical evidence that consumers do not understand arbitration clauses and so, in my view, they have not “actually agreed” to arbitration clauses.
I often get emails from reporters seeking comment on a consumer law matter. When I can, I answer their questions, but frequently they want someone who knows about an aspect of consumer law I don’t know that much about. In such cases, I refer them to someone else when I know of a better choice […]
Consumer Financial Protection Bureau, Predatory Lending
NCLC’s Lauren Saunders on payday lenders’ vow to continue battling the CFPB rule: “It’s a sign of how fundamentally predatory your business model is, that after they’ve made unaffordable loans and put people into a debt trap, they can’t even comply with a rule that merely prevents them from continuing to hit people’s accounts.”
That quote appears in an article by Polo Rocha in the American Banker headlined After loss at Supreme Court, payday lenders vow to keep fighting CFPB (behind paywall but available on Lexis). As the article explains “The CFPB rule, which has never taken effect, would prohibit payday lenders from making another attempt after a payment fails […]