The LA Times has published a December 5 letter from dozens of manufacturing and other industry trade associations to the incoming administration, providing a wishlist of “regulatory actions that will set the stage for industrial growth in the United States.” Although the list mostly demands a laissez faire approach to business, the coalition acknowledged “that […]
As Christine reported, the Consumer Financial Protection Bureau issued a rule just yesterday to cap overdraft fees. Already, a group of banking associations have challenged it. The complaint, filed in Mississippi, is available here.
House Republicans have voted to make French Hill chair of the House Financial Services Committee. According to the NY Times, Hill’s first choice would be to abolish the C.F.P.B. But he believed there would be wider support for a milder change to how it was run, like restructuring its leadership to make it a bipartisan […]
Here, on Ballard Spahr’s Consumer Finance Monitor podcast.
Donald E. Bowen III of Lehigh University, S. McKay Price of Lehigh University – Perella Department of Finance, Luke C.D. Stein of Babson College, and Ke Yang of Lehigh University have written Measuring and Mitigating Racial Disparities in Large Language Model Mortgage Underwriting. Here’s the abstract: We conduct the first study exploring the application of large […]
The Consumer Financial Protection Bureau today issued a final rule to cap most overdraft fees at $5 for checking accounts offered by the largest banks with over $10 billion in assets. The bureau estimates the rule will save consumers up to $5 billion a year. The rule aims to close a loophole in the regulations […]
Cathy Lesser Mansfield of Case Western Reserve has written It Takes a Thief….and a Bank: Protecting Consumers from Fraud and Scams on P2P Payment Platforms. Here’s the abstract: This Article proposes statutory and regulatory changes to the Electronic Fund Transfer Act; Regulation E; and the Bank Secrecy Act/Anti-Money Laundering regulations to protect consumers who use instant […]
So reports Bryan Koenig at Law360. Meador is a partner at Kressin Meador Powers and according to his bio has served at the FTC, DOJ and as a staffer for the Senate Judiciary Committee. He has considerable antitrust experience but I’m not sure what experience, if any, he has in consumer protection. Ferguson has been […]
Recently we blogged about Elon Musk’s call to delete the CFPB. Musk was responding to an interview by Marc Andreesen on Joe Rogan’s podcast in which Andreesen attacked the CFPB as “sort of Elizabeth Warren’s personal agency that she gets to control … it’s an independent agency that just gets to . . . do what […]
David Horton of California, Davis has written Accidental Arbitration, 102 Wash. U. L. Rev. — (forthcoming 2025). Here’s the abstract: The Supreme Court’s muscular interpretation of the Federal Arbitration Act (FAA) has encouraged businesses to insert arbitration clauses in untold millions of contracts. However, this Article explores a subtler way in which arbitration’s kingdom is […]