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Jeff Sovern
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by Jeff Sovern Two weeks ago, as Scott posted, the Supreme Court decided Jesinoski v. Countrywide Home Loans, Inc., holding that consumers may rescind under the Truth in Lending Act by so notifying the lender, and that the statute does... Continue reading
Posted 4 days ago at CL&P Blog
by Jeff Sovern The Faculty Lounge Blog recently posted a census of law professors who post on Twitter. I was disappointed to see that consumer law professors were not really represented on the list (I tweet, but rarely, and then... Continue reading
Posted 6 days ago at CL&P Blog
by Jeff Sovern As previously reported in The New York Times and CFPB Monitor, a CFPB report based on data in the National Survey of Mortgage Borrowers has found that nearly half of borrowers don't shop for a mortgage. The... Continue reading
Posted 7 days ago at CL&P Blog
Posted 7 days ago at CL&P Blog
by Jeff Sovern Peter Holland has an interesting blog post pulling together a lot of the most significant findings of our arbitration study and adding his own commentary. Meanwhile, Ballard Spahr lawyers Alan Kaplinsky, Mark Levin, and Daniel McKenna responded... Continue reading
Posted Jan 22, 2015 at CL&P Blog
by Jeff Sovern In our casebook, we quote a 1982 article that reports on a credit scoring system that took into account, in calculating the score, the first letter of the applicant's last name. Credit scoring has evolved since then... Continue reading
Posted Jan 19, 2015 at CL&P Blog
Here. The subtitle reads: Consumer-Debt Adviser Howard Dvorkin Has Financial Links to Firms Such as Payday Lenders That Often Drive People Deeper into Debt. And here's the beginning of the article: One of the most prominent advocates for consumer debt... Continue reading
Posted Jan 14, 2015 at CL&P Blog
by Jeff Sovern We've mentioned Jake Halpern's terrific book Bad Paper about the debt collection industry before (see here and here). I finally got around to listening to the audio version. If you teach debt collection law, it's a must-read... Continue reading
Posted Jan 13, 2015 at CL&P Blog
Alexandra Power Everhart Sickler of North Dakota has written The Truth Shall Set You Free: Explaining Judicial Hostility to the Truth in Lending Act’s Right to Rescind a Mortgage Loan, forthcoming in the Rutgers Journal of Law and Urban Policy.... Continue reading
Posted Jan 7, 2015 at CL&P Blog
(HT: Rosemary Shahan). Might be worth assigning to students learning about fraud and UDAP statutes. Continue reading
Posted Jan 6, 2015 at CL&P Blog
by Jeff Sovern A professor who is new to teaching consumer law has asked about skills exercises (also called active learning exercises) professors could require of students. I suggested having a student write a demand letter that didn’t violate the... Continue reading
Posted Jan 6, 2015 at CL&P Blog
Mary L. Heen of Richmond has written Nondiscrimination in Insurance: The Next Chapter, 49 Georgia Law Review (2014-2015). Here is the abstract: For nearly 150 years, American insurance companies have engaged in race and gender pricing practices that would be... Continue reading
Posted Jan 5, 2015 at CL&P Blog
Wenli Li of the Philadelphia Fed, Ishani Tewari of the Yale School of Management, and Michelle J. White of California, San Diego's Department of Economics and the National Bureau of Economic Research have written Using Bankruptcy to Reduce Foreclosures: Does... Continue reading
Posted Dec 15, 2014 at CL&P Blog
Robert C. Hockett of Cornell has written 'We Don't Follow, We Lead': How New York City Will Save Mortgage Loans by Condemning Them, 124 Yale Law Journal Forum 131 (2014). Here is the abstract: This brief invited essay lays out... Continue reading
Posted Dec 7, 2014 at CL&P Blog
by Jeff Sovern The press release is here. The rules themselves are here. Law360's Evan Weinberger reports here on whether they might become a model for the CFPB or other states. I am very curious to see how effective the... Continue reading
Posted Dec 4, 2014 at CL&P Blog
Here. An excerpt: Right now, the CFPB is finishing up the second phase of its study, which will hone in on consumers' understanding of arbitration clauses. At that point, it will decide whether it needs to act. If the bureau's... Continue reading
Posted Nov 30, 2014 at CL&P Blog
Alan Schwartz of Yale has written Regulating for Rationality, Forthcoming in the Stanford Law Review. Here's the abstract: Traditional consumer protection law responds with various forms of disclosure to market imperfections that are the consequence of consumers being imperfectly informed... Continue reading
Posted Nov 21, 2014 at CL&P Blog
Amy Schmitz of Colorado has written Females on the Fringe: Considering Gender in Payday Lending Policy, 89 Chicago-Kent Law Review (2014). Here's the abstract: Payday lending may provide a much-needed safety net for some consumers in need of quick cash... Continue reading
Posted Nov 19, 2014 at CL&P Blog
by Jeff Sovern My coauthor, Paul Kirgis, has posted an excellent response to Alan S. Kaplinsky and Mark J. Levin's comments on the CFPB Monitor on our arbitration study. His response also has the virtue of being briefer than mine.... Continue reading
Posted Nov 16, 2014 at CL&P Blog
by Jeff Sovern Alan S. Kaplinsky and Mark J. Levin, in their comments at the CFPB Monitor, wrote about the contract we showed the survey respondents: "The hypothetical card agreement used in the St. John’s study did not even contain... Continue reading
Posted Nov 14, 2014 at CL&P Blog
by Jeff Sovern I am pleased to report that Ballard Spahr’s Alan Kaplinsky and Mark Levin have commented on our arbitration study at their very informative and useful blog, CFPB Monitor (We’re still in the stage of soliciting comments and... Continue reading
Posted Nov 12, 2014 at CL&P Blog