Bankruptcy Law Blog

Sixth Circuit holds that bare allegation of FDCPA statutory violation is not an Article III injury under Spokeo

In today’s decision in Hagy v. Demers & Adams, the Sixth Circuit held that a bare allegation that a debt collector’s letter that fails to say it’s “from a debt collector” as required by the Fair Debt Collection Practices Act, 15 U.S.C. § 1692e(11), is not an article III injury under the Supreme Court’s decision … Continue reading “Sixth Circuit holds that bare allegation of FDCPA statutory violation is not an Article III injury under Spokeo”

Nelson/Wright Article Applies CBA to State Unfairness Cases

Elise M. Nelson of Freshfields Bruckhaus and Joshua D. Wright of George Mason have written Judicial Cost-Benefit Analysis Meets Economics: Evidence from State Unfair and Deceptive Practices Laws, 81 Antitrust Law Journal (2017). Here is the abstract: Section 5 of the Federal Trade Commission Act (FTC Act) prohibits “unfair or deceptive acts or practices in or affecting commerce.” … Continue reading “Nelson/Wright Article Applies CBA to State Unfairness Cases”

Other (Non-Religious) Non-Profit Organizations Also File Bankruptcy

Yesterday I posted about the number of religious organizations that filed chapter 11 between 2006 and 2017, and how their filings track fluctuations in consumer bankruptcy filings during those years. Non-religious non-profit organizations also file chapter 11, but in fewer numbers than religious organizations. As shown in this graph, between 2006 and 2017, a mean … Continue reading “Other (Non-Religious) Non-Profit Organizations Also File Bankruptcy”

Am. Banker: Mulvaney looks to neuter CFPB’s most potent weapon

Here, by Kate Berry (behind a paywall). The most potent weapon is, of course, the Bureau’s UDAAP powers. Excerpt: [The Bureau’s] vision statement unveiled as part of the new strategic plan dropped any reference to so-called UDAAP claims, suggesting that the agency will not use the Dodd-Frank authority as the same kind of blunt enforcement … Continue reading “Am. Banker: Mulvaney looks to neuter CFPB’s most potent weapon”

Berkeley Joins Georgetown as Leading Consumer Law Schools Among Elite

by Jeff Sovern Mike posted earlier today about Berkeley’s new Center for Consumer Law and Economic Justice, funded by a major gift from Elizabeth Cabraser and to be headed at least for now by Ted Mermin, a terrific choice.  Berkeley also has Chris Hoofnagle, a prolific writer on privacy and consumer law. With this gift, Berkeley joins Georgetown … Continue reading “Berkeley Joins Georgetown as Leading Consumer Law Schools Among Elite”

Third Circuit: Letter from debt collector seeking to "settle" a time-barred debt could violate the FDCPA

The decision is Tatis v. Allied Interstate. Applying the “least sophisticated consumer” standard and following decisions of the Fifth, Sixth, and Seventh circuits, the court summarizes its decision this way: This appeal arises under the Fair Debt Collection Practices Act …. The question presented is whether a collection letter sent to collect a time-barred debt that … Continue reading “Third Circuit: Letter from debt collector seeking to "settle" a time-barred debt could violate the FDCPA”

CFPB Issues New Strategic Plan, Drawing Criticism from Consumers Union

by Jeff Sovern The CFPB issued a new strategic plan. I haven’t had time to go through it myself, but Consumers Union is unhappy with it. Here’s a quote from the CU statement: [The plan] signals that [the CFPB] will ease up on enforcement and investigations of the financial industry and identifies deregulation as a … Continue reading “CFPB Issues New Strategic Plan, Drawing Criticism from Consumers Union”

How Mulvaney Can Sabotage the CFPB’s Payday Lending Rule

by Jeff Sovern Last month, Interim Director Mulvaney announced that the Bureau may reconsider the Bureau’s payday lending rule. But he can’t just rescind it. That would require a full notice-and-comment rulemaking, and that would take longer than Mulvaney will be at the CFPB (under the Vacancies Act, he is limited to 210 days). True, … Continue reading “How Mulvaney Can Sabotage the CFPB’s Payday Lending Rule”

Consumer Financial Regulation Scholars’ Amicus Brief in CPFB Leadership Case

Adam J. Levitin of Georgetown, Patricia A. McCoy of Boston College Law School, Kathleen C. Engel of Suffolk, and Dalié Jiménez of California-Irvine, Connecticut School of Law; and Harvard’s Center on the Legal Profession have authored Brief of Amici Curiae Consumer Financial Regulation Scholars in Support of Plaintiff-Appellant Leandra English, English v. Trump, No. 18-5007 (D.C. … Continue reading “Consumer Financial Regulation Scholars’ Amicus Brief in CPFB Leadership Case”