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Jeff Sovern
Recent Activity
by Jeff Sovern The University of Montana Law School (where my colleague and co-author of the St. John's Arbitration Study, Paul Kirgis, is heading to take up the deanship) has just announced a $10 million gift by alum Alexander "Zander"... Continue reading
Posted 3 days ago at CL&P Blog
Lauren E. Willis of Loyola Los Angeles has written what looks like another important article, The Consumer Financial Protection Bureau and the Quest for Consumer Comprehension. Here is the abstract: To ensure that consumers “understand [financial products’] costs, benefits, and... Continue reading
Posted 4 days ago at CL&P Blog
by Jeff Sovern Senator Shelby, chair of the Senate Banking Committee, Housing and Urban Affairs Committee, has released a discussion draft of “The Financial Regulatory Improvement Act of 2015.” The draft provides in Section 117, that the CFPB's new mortgage... Continue reading
Posted May 16, 2015 at CL&P Blog
Dennis D. Hirsch of Capital has written That's Unfair! Or Is It? Big Data, Discrimination and the FTC's Unfairness Authority, 103 Kentucky Law Journal (2015). Here is the abstract: Big data and data analytics (“big data”) can produce many social... Continue reading
Posted May 1, 2015 at CL&P Blog
Scott blogged earlier today about the pending vote to delay protections. Here's Ed Mierzwinski's HuffPo post, House Launches Attack on Servicemember Lending Protections, and Chris Morran of Consumerist weighs in with Congress May Delay Predatory Lending Protection For Military Personnel.... Continue reading
Posted Apr 29, 2015 at CL&P Blog
by Jeff Sovern I don't know anyone who likes getting a shot. One of my daughters, as a small girl, would hide under chairs at the pediatrician's office to avoid them, which by the way, was not an effective strategy.... Continue reading
Posted Apr 26, 2015 at CL&P Blog
The headline reads Battle Over CFPB Funding Erupts Anew in House and the story is here. Continue reading
Posted Apr 22, 2015 at CL&P Blog
by Jeff Sovern Here. Excerpt: The bill as amended lowers the bureau’s budget cap by $9 million over 10 years. The cap is set at 618.7 million for fiscal year 2015. Given that the law already caps the bureau’s funding... Continue reading
Posted Apr 22, 2015 at CL&P Blog
by Jeff Sovern I just finished listening to the audio version of Barney Frank's autobiography, Frank: A Life in Politics from the Great Society to Same-Sex Marriage, which Frank reads himself. I listened to it to learn more about consumer... Continue reading
Posted Apr 19, 2015 at CL&P Blog
Jason Scott Johnston of Virginia has written Do Product Bans Help Consumers? Questioning the Economic Foundations of Dodd-Frank Mortgage Regulation. Here is the abstract: The system of residential mortgage contact regulation enacted by the 2010 Dodd Frank Wall Street Reform... Continue reading
Posted Apr 19, 2015 at CL&P Blog
Jim Hawkins of Houston has asked me to post the following: The AALS Section on Commercial and Related Consumer Law is pleased to announce a Call for Papers for its program co-sponsored by the Section on Women in Legal Education... Continue reading
Posted Apr 19, 2015 at CL&P Blog
Here. An excerpt: To opponents, the bill might better be named the "Data Insecurity and Breach Hiding Act." Beth Givens, executive director of the Privacy Rights Clearinghouse, says its passage "would be a giant step backward for consumer protection." Even... Continue reading
Posted Apr 16, 2015 at CL&P Blog
by Jeff Sovern Marc James Ayers of Bradley Arant Boult Cummings LLP has posted an item, Can the CFPB really prohibit pre-dispute arbitration agreements? in which he wrote: [S]hould the CFPB independently decide to adopt regulations limiting or prohibiting the... Continue reading
Posted Apr 16, 2015 at CL&P Blog
Joanna C. Schwartz of UCLA has written The Cost of Suing Business, forthcoming in the DePaul Law Review. Here's the abstract: To listen to the Chamber of Commerce, one would think that class actions are the most significant scourge on... Continue reading
Posted Apr 12, 2015 at CL&P Blog
Here. Excerpt: The ominous letter from the prosecutor's office was addressed to her grandfather, Albert Lachowicz, but it came to Jennifer Paczan because she was handling his finances.* * * The letter was signed by Beaver County District Attorney Anthony... Continue reading
Posted Apr 12, 2015 at CL&P Blog
Nathalie Martin of New Mexico has written Giving Credit Where Credit is Due: What We Can Learn from the Banking and Credit Habits of Undocumented Immigrants. Here's the abstract: Undocumented immigrants currently make up more than 5% of the U.S.... Continue reading
Posted Apr 6, 2015 at CL&P Blog
Shauhin A. Talesh of Irvine has written Institutional and Political Sources of Legislative Change: Explaining How Private Organizations Influence the Form and Content of Consumer Protection Legislation, 39 Law and Social Inquiry 973 (2014 ). Here's the abstract: This article... Continue reading
Posted Apr 5, 2015 at CL&P Blog
Max N. Helveston of DePaul has written Judicial Deregulation of Consumer Markets, forthcoming in the Cardozo Law Review. Here's the abstract: The dangers posed by insufficiently regulated consumer markets are both real and monumental. While the rights of consumers expanded... Continue reading
Posted Mar 28, 2015 at CL&P Blog
by Jeff Sovern Last Friday, I posted a comment on Alan Kaplinsky’s remarks, quoted in the Bloomberg Business story, Bank Customers May Get Their Day in Court, about the CFPB arbitration report. Alan replied in a post captioned “Sovern v.... Continue reading
Posted Mar 26, 2015 at CL&P Blog
by Jeff Sovern Not that I need one, but my question is prompted by my expectation that during the Consumer Financial Protection Bureaus's field hearing today on payday lending, the Bureau will propose new restrictions on payday lending. Critics may... Continue reading
Posted Mar 26, 2015 at CL&P Blog
by Jeff Sovern According to ThinkAdvisor, Georgia Senator David Perdue has introduced an amendment that would subject the CFPB to the congressional appropriations process. Calling the Bureau "reckless," Perdue added "the CFPB is a rogue agency that dishes out malicious... Continue reading
Posted Mar 23, 2015 at CL&P Blog