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Consumer Law

Consumer Financial Protection Bureau Update - March 2015 - Podcast

Financial Services & E-Commerce Practice Group Podcast
Wayne A. Abernathy, Todd J. Zywicki March 13, 2015

Members of the Federalist Society’s Financial Services & E-Commerce Practice Group Executive Committee provided an update on recent important activity at the Consumer Financial Protection Bureau (CFPB). Recent developments included the results of the CFPB's arbitration study, the suspension of credit card agreement submission to the CFPB, new criticism of the CFPB's mortgage rate tool, and new payday lending rules.

  • Hon. Wayne A. Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association
  • Prof. Todd J. Zywicki, Foundation Professor of Law, George Mason University School of Law

Federal Trade Commissioner Maureen Ohlhausen on the FTC and Advertising Substantiation - Podcast

Corporations, Securities & Antitrust and Telecommunications & Electronic Media Practice Groups Podcast
Maureen K. Ohlhausen March 04, 2015

One of the Federal Trade Commission’s key duties is to protect consumers from deceptive advertising. The FTC does this, in part, by ensuring that advertisers can substantiate their claims. While executing this duty, the FTC generally seeks to prevent consumer harm while maximizing the amount of useful information available to consumers. Commissioner Maureen Ohlhausen believes that, in some cases over the past several years, the FTC has required a heightened level of substantiation, thereby reducing the useful information available to consumers. In a recent decision, POM Wonderful, the D.C. Circuit offered additional guidance on striking the proper balance, echoing themes that Commissioner Ohlhausen has raised in debates with her colleagues at the FTC. Commissioner Ohlhausen discussed this and other recent cases and how the FTC should address deceptive advertising in the future.

  • Hon. Maureen K. Ohlhausen, Federal Trade Commissioner

Consumer Financial Protection Bureau Update - February 2015 - Podcast

Financial Services & E-Commerce Practice Group Podcast
Wayne A. Abernathy, Todd J. Zywicki February 12, 2015

Members of the Federalist Society’s Financial Services & E-Commerce Practice Group Executive Committee provided an update on recent important activity at the Consumer Financial Protection Bureau (CFPB). Recent developments included a CFPB study on the Military Lending Act, activity at the FDIC related to Operation Chokepoint, the Independent Community Bankers Association survey of the effect of CFPB regulations on residential mortgage lending, and also a recent Harvard study about the effect of the Dodd-Frank Act on community banks.

  • Hon. Wayne A. Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association
  • Prof. Todd J. Zywicki, Foundation Professor of Law, George Mason University School of Law

Jesinoski v. Countrywide Home Loans, Inc. - Post-Decision SCOTUScast

SCOTUScast 1-21-15 featuring John Ohlendorf
John Ohlendorf January 21, 2015

On January 13, 2015, the Supreme Court issued its decision in Jesinoski v. Countrywide Home Loans, Inc.  The question in this case was whether, under the terms of the Truth in Lending Act, a borrower may rescind a mortgage transaction merely by notifying the lender in writing within three years of the finalization of the transaction, or must instead file a lawsuit within that same time period.

In an opinion delivered by Justice Scalia for a unanimous Court, the Court held that the borrower need only provide written notice to the lender within the three-year period, not file suit. The decision of the Eighth Circuit was reversed and the case remanded for further proceedings.

To discuss the case, we have John Ohlendorf, who is an associate at the law firm Cooper & Kirk, PLLC.

Consumer Financial Protection Bureau Update - January 2015 - Podcast

Financial Services & E-Commerce Practice Group Podcast
Wayne A. Abernathy, Julius L. Loeser January 07, 2015

Members of the Federalist Society’s Financial Services & E-Commerce Practice Group Executive Committee provided an update on recent important activity at the Consumer Financial Protection Bureau (CFPB) and look forward to potential CFPB developments in 2015 on this Teleforum conference call. Recent developments included the CFPB’s approach to alleged unlawful discrimination in auto lending and a November study by the American Financial Services Association that suggests that the methodology the CFPB is using to identify minorities is wrong much of the time.

  • Hon. Wayne A. Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association
  • Julius L. Loeser, Of Counsel, Winston & Strawn LLP