According to a Federal Trade Commission press release, the FTC "is taking action against Intuit Inc., the maker of the popular TurboTax tax filing software, by issuing an administrative complaint against the company for deceiving consumers with bogus advertisements pitching “free” tax filing that millions of consumers could not use. In addition, to prevent ongoing […]
by Jeff Sovern The CFPB has lately been up in arms over credit card late fees. Late fees and many other fees are troubling because it is likely that consumers don't think about them when choosing their credit cards. Classical economics presupposes that consumers will make optimal decisions if they know what prices they will […]
Guest post from Neil Sobol: Howdy consumer law colleagues: This posting requests information to help update my survey on consumer laws offerings in law school. In an August 2020 blog, I forwarded a chart created by my research assistant. The chart was part of a project to update the consumer law offerings chart reported in […]
Here. It doesn't mean there won't be targeted loan forgiveness or changes in the IDR program, but so far, it looks as if widespread cancellation (e.g., $50,000 per borrower is not something the president is pushing).
Here. Dayen paints Chopra as someone who finds ways to get positive things done through hard work and imaginative use of agency powers. How does the industry react to this? Here is one paragraph: Financial firms didn’t want to see anyone rousing the machinery of the federal government, and they groused about Chopra to anyone and everyone. […]
Consumer Reports writes that consumers may "be surprised by some of the clauses in terms of service and end-user license agreements …. A number of them are odd but relatively harmless. [A zombies clause?] In other cases, these agreements try to take away important consumer rights." The article is here.
Lauren Henry Scholz of Florida State has written Private Rights of Action in Privacy Law, William & Mary Law Review, Forthcoming. Here's the abstract: Many privacy advocates assume that the key to providing individuals with more privacy protection is strengthening the power government has to directly sanction actors that hurt the privacy interests of citizens. This […]
The Home Mortgage Disclosure Act Modified Loan Application Register data for 2021 are now available on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,316 HMDA filers. The published data contain loan-level information filed by financial institutions, modified to protect consumer privacy.
The Consumer Financial Protection Bureau had issued policy guidance regarding potentially illegal practices related to consumer reviews. "The CFPB seeks to ensure that customers can write reviews, particularly ones posted online, about financial products and services that accurately reflect their opinions and experiences. The guidance also highlights that practices such as posting fake reviews or […]
by Jeff Sovern Jack Hoover, a 3L at Virginia, has written Standing and Student Loan Cancellation, 108 Va. L. Rev. Online (Forthcoming 2022). Here's the abstract: As the public policy debate over broad student loan cancellation continues, many have questioned whether the Executive branch has the legal authority to waive the federal government’s claim to […]