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Jeff Sovern
Recent Activity
Brian D. Galle of Georgetown has written The Problem of Intra-Personal Cost. Here is the abstract: “Externalities”, or harms to others, provide a standard justification for government intervention in the private market. There is less agreement over whether government is... Continue reading
Posted yesterday at CL&P Blog
Christopher P. Guzelian of Thomas Jefferson, Michael Ashley Stein of Harvard Law School and the University of Pretoria Faculty of Law, and H. S. Akiskal of UC San Diego Department of Psychology have written Credit Scores, Lending, and Psychosocial Disability,... Continue reading
Posted 2 days ago at CL&P Blog
Bankrate has the story here. Excerpt: It's one thing to see banks marketing financial products they sell, like credit cards. It's another thing altogether to see them trying to sell cars, says Elisabeth Honka, assistant professor of marketing at the... Continue reading
Posted 3 days ago at CL&P Blog
The CFPB typically invites representatives from various organizations to speak at its field hearings. According to an email report, U.S. Chamber Center for Capital Markets Competitiveness Executive Director Travis Norton will be one of the speakers at next Thursday's arbitration... Continue reading
Posted 3 days ago at CL&P Blog
by Jeff Sovern Earlier this month, Allison posted a link to a story about the PHH case in which the D.C Circuit heard arguments about whether the CFPB's structure is constitutional (CFPB Monitor reports on the oral argument here). The... Continue reading
Posted 4 days ago at CL&P Blog
We received the following announcement: The University of Amsterdam's Institute for Information Law (IViR) is accepting applications for its fourth annual Summer Course on Privacy Law and Policy which will be held from July 4-8, 2016, The course focuses on... Continue reading
Posted 6 days ago at CL&P Blog
by Jeff Sovern Critics of consumer protection regulation routinely assert that such regulation reduces access to credit and increases consumer costs. For example, here is what Todd Zywicki wrote in his recent testimony before the Senate Banking Committee (footnote omitted):... Continue reading
Posted Apr 24, 2016 at CL&P Blog
Russell M. Gold of NYU and Wake Forest has written Compensation's Role in Deterrence, forthcoming in 91 Notre Dame Law Review (2016). Here is the abstract: There are plenty of non-economic reasons to care whether victims are compensated in class... Continue reading
Posted Apr 23, 2016 at CL&P Blog
Howard M. Erichson of Fordham has written Aggregation as Disempowerment, 92 Notre Dame Law Review (Forthcoming). Here is the abstract: Class action critics and proponents cling to the conventional wisdom that class actions empower claimants. Critics complain that class actions... Continue reading
Posted Apr 22, 2016 at CL&P Blog
According to a report in HousingWire, Is TRID hysteria over? Time to close drops to 12-month low, the new TILA/RESPA closing disclosures are not delaying mortgage closings. The story explains "lenders now have this whole TRID thing figured out, as... Continue reading
Posted Apr 21, 2016 at CL&P Blog
Here. Because the Bureau usually combines field hearings with announcements of related developments, it is likely to announce its proposed arbitration rules that day. Continue reading
Posted Apr 20, 2016 at CL&P Blog
by Jeff Sovern Yesterday I posted about Senator Elizabeth Warren's takedown of Leonard Chanin, formerly of the Fed and the CFPB, now of MoFo, at a Senate Banking Committee hearing. I have since finished listening to the hearing and wanted... Continue reading
Posted Apr 19, 2016 at CL&P Blog
by Jeff Sovern On April 5, the Senate Banking Committee held a hearing titled Assessing the Effects of Consumer Finance Regulations. I've been listening to the hearing, which has three witnesses--selected by the GOP majority--who spent much of their time... Continue reading
Posted Apr 18, 2016 at CL&P Blog
Catherine Martin Christopher of Texas Tech has written Mobile Banking: The Answer for the Unbanked in America? 65 Catholic University Law Review, (2015 ). Here is the abstract: In the U.S., the poor often lack access to mainstream banking services.... Continue reading
Posted Apr 16, 2016 at CL&P Blog
by Jeff Sovern The Hill has the story with the headline House panel passes bills to ramp up CFPB oversight. For more on why "oversight" will hurt consumers, see here and here. Continue reading
Posted Apr 14, 2016 at CL&P Blog
Here. Here is the Executive Summary: Debt buyers, specialized debt-collection companies, purchase defaulted consumer debt from creditors such as credit card companies for pennies on the dollar. Debt buyers then attempt to collect the debt, often by suing borrowers in... Continue reading
Posted Apr 14, 2016 at CL&P Blog
Kevin M. McDonald of VW Credit Inc., and Kenneth J. Rojc of Nisen & Elliott, LLC have written the Business Lawyer's annual survey of consumer auto finance developments, this year called Automotive Finance: The Regulatory Cup Spilleth Over. Here is... Continue reading
Posted Apr 11, 2016 at CL&P Blog
Florencia Marotta-Wurgler of NYU has written Understanding Privacy Policies: Content, Self-Regulation, and Markets. Here is the abstract: The current regulatory approach to consumer information privacy is based on a “notice and choice” self-regulation model, but commentators disagree on its impact.... Continue reading
Posted Apr 10, 2016 at CL&P Blog
Howard Beales of George Washington University's School of Business and Timothy J. Muris of George Mason have written FTC Consumer Protection at 100: 1970s Redux or Protecting Markets to Protect Consumers? 83 George Washington Law Review 2157(2015). Here is the... Continue reading
Posted Apr 9, 2016 at CL&P Blog
Imre S. Szalai of Loyola New Orleans has written DIRECTV, Inc. v. Imburgia: How the Supreme Court Used a Jedi Mind Trick To Turn Arbitration Law Upside Down, 32 Ohio State Journal on Dispute Resolution, 1, (2016 Forthcoming). Here's the... Continue reading
Posted Apr 8, 2016 at CL&P Blog
by Jeff Sovern A few weeks ago, the New York Times ran an op-ed by Georgetown Law Professor David Cole, titled What Liberals Can Learn From the N.R.A. Consumer advocates who seek to change the law would find the entire... Continue reading
Posted Apr 3, 2016 at CL&P Blog
Here. Excerpt: The problem is one of disclosure. Do news organizations do a sufficient job of helping people understand that one story or link is real news while another was provided by an advertiser? * * * Consumers might say:... Continue reading
Posted Mar 31, 2016 at CL&P Blog
The Washington Post has the story here. Continue reading
Posted Mar 30, 2016 at CL&P Blog