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Jeff Sovern
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Forbes has an account here. Forbes has a paywall but if you haven't read any Forbes articles this month, you should be able to read the article. There's a lot in the article worth reading, but here's a short excerpt:... Continue reading
Posted yesterday at CL&P Blog
Howell E. Jackson and Colin Mark, both of Harvard, have written May the Executive Branch Forgive Student Loan Debt Without Further Congressional Action? Here's the abstract: On April 1, 2021, the Biden Administration announced that Secretary of Education Michael Cardona... Continue reading
Posted 5 days ago at CL&P Blog
Eric Goldman of Santa Clara has written (illustrated?) The Crisis of Online Contracts (as Told in 10 Memes). Here is the disappointingly memeless abstract: This essay explains the “crisis” of online contracts, the legal fiction that consumers have assented to... Continue reading
Posted Apr 4, 2021 at CL&P Blog
Here, in Facebook v. Duguid. In other words, if all the device does is call numbers that you specificaly tell it to call, it's not an ATDS within the meaning of the Telephone Consumer Protection Act. Continue reading
Posted Apr 1, 2021 at CL&P Blog
by Jeff Sovern So says an indentified financial services lobbyist, quoted in Neil Haggerty's article in The American Banker, Will Senate vote on CFPB chief come down to tiebreaker? (behind paywall but available on Lexis). Here's the relevant excerpt: A... Continue reading
Posted Apr 1, 2021 at CL&P Blog
by Jeff Sovern Yesterday, Acting CFPB Director Dave Uejio posted an item to the CFPPB Blog that suggests that the Bureau may rekindle its former payday lending rule in some form. Here's the post in full: The CFPB is acutely... Continue reading
Posted Mar 25, 2021 at CL&P Blog
by Jeff Sovern Consumer law is filled with illusory consumer protections, and one form they take is the supposed obligation to give serious consideration to the possiblity that the provider is wrong in its claims. Examples include credit bureaus' obligations... Continue reading
Posted Mar 21, 2021 at CL&P Blog
Here. It might be behind a paywall, but you can find it on Lexis. I enjoyed and recommend the whole column, but here's an excerpt: Jim Kimberly, an AT&T spokesman, told me that "arbitration is a faster, less expensive, easier... Continue reading
Posted Mar 19, 2021 at CL&P Blog
by Jeff Sovern The recording is here. More information here. I have started listening to the recording and am finding it excellent so far. Very instructive. Continue reading
Posted Mar 15, 2021 at CL&P Blog
by Jeff Sovern Last year we blogged about the CFPB's disappointing abusiveness policy statement. But things are different this year and the Bureau has wisely rescinded the Policy Statement, saying that it "was inconsistent with the Bureau’s duty to enforce... Continue reading
Posted Mar 11, 2021 at CL&P Blog
by Jeff Sovern Yesterday, the Senate Banking Committee split, 12-12 on the vote to confirm FTC Commissioner Rohit Chopra to be the next CFPB director. According to Neil Haggerty's report in the American Banker (behind a paywall but available on... Continue reading
Posted Mar 11, 2021 at CL&P Blog
by Jeff Sovern Barney Frank is speaking today at the Berkeley Consumer Law Scholars Conference. Here's something I posted in 2015 on his autobiography: I just finished listening to the audio version of Barney Frank's autobiography, Frank: A Life in... Continue reading
Posted Mar 5, 2021 at CL&P Blog
by Jeff Sovern You should be able to listen here. The American Banker's Kate Berry has a story here, behind a paywall, unfortunately, but if you have Lexis, you can read it there. Excerpt: [Chopra's] aggressive past statements coupled with... Continue reading
Posted Mar 1, 2021 at CL&P Blog
Panel I - Antiracist Policy in Consumer Law - March 4, 4:00 PM (All times are CST.) The symposium's first panel will highlight antiracist policy arising in the various areas of consumer law. The panelists' expertise and discussion topics range... Continue reading
Posted Feb 24, 2021 at CL&P Blog
Here. Excerpt (footnotes omitted): As then-Professor Elena Kagan explained in her famous article, “Presidential Administration,” it is the overriding tendency of recent presidents to harness executive agencies’ rulemaking and other authorities and use them as extensions of their own policy... Continue reading
Posted Feb 21, 2021 at CL&P Blog
Minnesota's Prentiss Cox and Suffolk's Kathleen C. Engel have written Student Loan Reform: Rights Under the Law, Incentives Under Contract, and Mission Failure Under ED, Harvard Journal on Legislation, Forthcoming. Here's the abstract: The federal student loan program is a... Continue reading
Posted Feb 16, 2021 at CL&P Blog
Charlotte Haendler and Rawley Heimer, both of Boston College's Department of Finance, have written The Financial Restitution Gap in Consumer Finance: Insights from Complaints Filed with the CFPB. Here's the abstract: Consumers seek restitution for disputed financial services by filing... Continue reading
Posted Feb 12, 2021 at CL&P Blog
The Conference on Consumer Finance Law and the Program on Financial Regulation & Technology at George Mason University’s Scalia Law School held a webinar recently titled “New Directions for Consumer Finance Law. An Insider’s Look at the Report of the... Continue reading
Posted Feb 12, 2021 at CL&P Blog
Erik Durbin and Charles J. Romeo, both of the Consumer Financial Protection Bureau, have written The Economics of Debt Collection, with Attention to the Issue of Salience of Collections at the Time Credit Is Granted, 16 Journal of Credit Risk... Continue reading
Posted Jan 31, 2021 at CL&P Blog
by Jeff Sovern Here. Both written and audio versions of the article are available. The article also reports on scam call centers overseas. I hope this is something the Biden administration moves on aggressively in its foreign policy. Continue reading
Posted Jan 31, 2021 at CL&P Blog
by Jeff Sovern My new article is now up on SSRN: Six Scandals: Why We Need Consumer Protection Laws Instead of Just Markets. Here' is the abstract: Markets are powerful mechanisms for serving consumers. Some critics of regulation have suggested... Continue reading
Posted Jan 24, 2021 at CL&P Blog
Yonathan A. Arbel of Alabama and Shmuel I. Becher of Victoria University of Wellington have written Contracts in the Age of Smart Readers. Here's the abstract: What does it mean to have machines that can read, explain, and evaluate contracts?... Continue reading
Posted Jan 23, 2021 at CL&P Blog
by Jeff Sovern If you are curious to learn more about FTC Commissioner and CFPB Director-Nominee Rohit Chopra, here is a video of him discussing the FTC's remedial authority a couple days before the Supreme Court heard oral argument earlier... Continue reading
Posted Jan 22, 2021 at CL&P Blog
President Biden has named Dave Ueijo, the chief strategy officer at the Consumer Financial Protection Bureau as the Bureau's acting director. Kate Berry's American Banker story here (may be behind paywall). Excerpt: “He’s a great interim pick and he doesn’t... Continue reading
Posted Jan 21, 2021 at CL&P Blog