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Jeff Sovern
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by Jeff Sovern Here. The first paragraphs read: Defying the threat of a White House veto, the House on Wednesday afternoon passed bipartisan legislation to help homebuyers avoid delays and disruptions when closing on their new homes by a bipartisan... Continue reading
Posted 5 days ago at CL&P Blog
Here. Non-disparagement clauses are suddenly drawing a lot of attention. Continue reading
Posted 6 days ago at CL&P Blog
The Bureau's announcement is here. An excerpt: Today the Consumer Financial Protection Bureau (CFPB) announced it is considering proposing rules that would ban consumer financial companies from using “free pass” arbitration clauses to block consumers from suing in groups to... Continue reading
Posted 6 days ago at CL&P Blog
Despite complaints from some that Dodd-Frank has led to the closing of community banks, the Wall Street Journal reports something different here. Some excerpts: It's a favorite lament of community banks: The 2010 Dodd-Frank law is squeezing small financial firms... Continue reading
Posted Oct 5, 2015 at CL&P Blog
The late great Jean Braucher and Barak Orbach, both of Arizona, have written Scamming: The Misunderstood Confidence Man, 27 Yale Journal of Law and the Humanities, (2015, Forthcoming). Here's the abstract: Samuel Thompson, the swindler who gave name to confidence... Continue reading
Posted Oct 3, 2015 at CL&P Blog
Here, in the Daily Kos. An excerpt: If Spotify does something illegal, no one can ever know that a consumer is challenging it. And then, if an arbitrator did find that Spotify acted illegally (which is asking a lot, since... Continue reading
Posted Sep 29, 2015 at CL&P Blog
Here. Excerpt: We believe that consumers should not be forced into arbitration. The Consumer Financial Protection Bureau should use its authority to stop forced arbitration in financial services; it recently announced it's holding a hearing on October 7 in Denver... Continue reading
Posted Sep 28, 2015 at CL&P Blog
The story, based on a Fed study, is here. Excerpt: New rules designed to make sure borrowers can repay their mortgages haven’t curtailed the ability to buy a home, a Federal Reserve study says. * * * The Fed study... Continue reading
Posted Sep 24, 2015 at CL&P Blog
October 7, in Denver. More here. Will the Bureau announce proposed arbitration rules? (HT: Gregory Gauthier) Continue reading
Posted Sep 23, 2015 at CL&P Blog
Thomas A. Durkin, Gregory Elliehausen, both of the Fed, and Todd J. Zywicki of George Mason have written Consumer Credit and the American Economy: An Overview, Forthcoming in the Journal of Law, Economics and Policy, Here is the abstract: This... Continue reading
Posted Sep 20, 2015 at CL&P Blog
by Jeff Sovern Here. Some excerpts: First, the attacks: Ben Carson, second only to Donald Trump in Republican presidential polling, has called the Consumer Financial Protection Bureau the "ultimate example of regulatory overreach." Candidate Carly Fiorina, former chief executive of... Continue reading
Posted Sep 19, 2015 at CL&P Blog
The Journal of Legal Studies is holding a conference at the University of Chicago titled "Contracting Over Privacy" on October 16 & 17. The conference features an all-star lineup. Here's the conference blurb: Information privacy is rapidly emerging as one... Continue reading
Posted Sep 18, 2015 at CL&P Blog
Here. Excerpt: Under Grassley's legislation, all students who are going to take out a federal loan to help pay for college would have to undergo counseling that would include an estimate of how much the student will likely make upon... Continue reading
Posted Sep 17, 2015 at CL&P Blog
by Jeff Sovern The following is the body of an email I sent to the editor of the Consumer Financial Services Law Report (a very useful newsletter on developments in consumer finance): The August 9, 2015 issue of the Consumer... Continue reading
Posted Sep 14, 2015 at CL&P Blog
Jim Hawkins of Houston has written Are Bigger Companies Better for Low-Income Borrowers?: Evidence from Payday and Title Loan Advertisements, Forthcoming in the Journal of Law, Economics and Policy. Here is the abstract: Payday lending and title lending markets are... Continue reading
Posted Sep 11, 2015 at CL&P Blog
On Saturday, we linked to Jeff Gelles's final consumer column for the Philadelphia Inquirer. Here is his final blog post. Continue reading
Posted Sep 9, 2015 at CL&P Blog
Here. Sad news for those who believe the media should cover consumer law. Continue reading
Posted Sep 5, 2015 at CL&P Blog
Jennifer Ann Drobac of Indiana's McKinney School has written The Myth of 'Legal' Consent in a Consumer Culture in FACETS OF CONSUMERISM IN A GLOBAL ECONOMY (Anand Pawar, ed., Twenty First Century Publications, 2015). Here is the abstract: This Essay... Continue reading
Posted Aug 28, 2015 at CL&P Blog
Guest Post by Gregory Gauthier: Late last week, many media outlets drew attention to broadly-worded terms in Spotify’s new privacy policy. Although Spotify’s CEO later explained the intent of the changes to the privacy policy, another change to Spotify’s terms... Continue reading
Posted Aug 24, 2015 at CL&P Blog
Richard Frankel of Drexel has written Concepcion and Mis-Concepcion: Why Unconscionability Survives the Supreme Court's Arbitration Jurisprudence, 17 Journal of Dispute Resolution. Here is the abstract: States have long relied on the doctrines of unconscionability and public policy to protect... Continue reading
Posted Aug 21, 2015 at CL&P Blog
Talia B Gillis, a doctoral student at Harvard, has written Putting Disclosure to the Test: Toward Better Evidence-Based Policy. Here is the abstract: Financial disclosures no longer enjoy the immunity from criticism they once had. While disclosures remain the hallmark... Continue reading
Posted Aug 19, 2015 at CL&P Blog
Here. He is expected to rejoin the George Mason Law School faculty. Continue reading
Posted Aug 17, 2015 at CL&P Blog
by Jeff Sovern Earlier this week, I posted a link to the Ballard Spahr comments, on behalf of various industry trade associations, on the CFPB Arbitration Study . Their thesis is that the Bureau Study indicates that consumers fare better... Continue reading
Posted Aug 14, 2015 at CL&P Blog
Shmuel I. Becher of the College of Management (Israel) - School of Law and Yuval Feldman of Bar-Ilan University have written Non-Verbal Market Manipulation. Here is the abstract: Consumers make purchasing decisions in various markets every day. Contrary to common... Continue reading
Posted Aug 13, 2015 at CL&P Blog