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Regulation of Business

Consumer Credit and the American Economy - Podcast

Financial Services & E-Commerce Practice Group Podcast
Todd J. Zywicki, Bill Himpler August 28, 2014

Professor Todd J. Zywicki joined a Teleforum conference call on his new book, Consumer Credit and the American Economy, co-authored with Thomas Durkin, Gregory Elliehausen, and Michael Staten. The book examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. Because of the importance of consumer credit in consumers' financial affairs, Professor Zywicki's intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today. Bill Himpler, Executive Vice President at the American Financial Services Association, offered his comments and questions.

  • Prof. Todd J Zywicki, Author, Consumer Credit and the American Economy, and Foundation Professor of Law, George Mason University School of Law
  • Bill Himpler, Executive Vice President, American Financial Services Association

Utility Air Regulatory Group v. Environmental Protection Agency - Post-Decision SCOTUScast

SCOTUScast 8-22-14 featuring Robert Gasaway
Robert R. Gasaway August 22, 2014

On June 23, 2014, the Supreme Court issued its opinion in Utility Air Regulatory Group v. Environmental Protection Agency. The question in this case was whether the EPA permissibly determined that its regulation of greenhouse gas emissions from new motor vehicles triggered permitting requirements under the Clean Air Act for stationary sources that emit greenhouse gases (“GHGs”).

Justice Scalia delivered the opinion of the Court with respect to parts I and II, which held that the EPA could not require a source to obtain a Prevention of Significant Deterioration (PSD) or Title V permit solely on the basis that the source emits GHGs.  The Court also concluded, however, that the EPA could reasonably interpret the Clean Air Act to allow for the regulation of GHG emissions from sources already subject to regulation under the PSD and Title V program.

Chief Justice Roberts and Justice Kennedy joined the opinion of the Court in full. Justices Thomas and Alito joined the opinion as to parts I, II-A, and II-B-1. Justices Ginsburg, Breyer, Sotomayor, and Kagan joined as to Part II-B-2. Justice Breyer filed an opinion concurring in part and dissenting in part, in which Justices Ginsburg, Sotomayor, and Kagan joined. Justice Alito filed an opinion concurring in part and dissenting in part, which Justice Thomas joined. The judgement of the United States Court of Appeals for the D.C. Circuit was affirmed in part and reversed in part.

To discuss these cases, we have Robert R. Gasaway, who is a partner at the law firm Kirkland & Ellis LLP.

Consumer Financial Protection Bureau Update - August 2014 - Podcast

Financial Services & E-Commerce Practice Group Podcast
Wayne A. Abernathy, Julius L. Loeser August 15, 2014

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) on this Teleforum conference call. Recent developments included the CFPB’s proposal to make public the details of anonymous consumer complaints, the CFPB’s 573-page proposal to require residential mortgage lenders to report publicly 37 new details on each home mortgage application that they receive, a bill that was introduced in the U.S. Senate to increase the threshold size of banks subject to CFPB examination from $10 billion to $50 billion, an enforcement action that the CFPB commenced against a law firm for its debt collection practices, and a warning that the CFPB issued to consumers about virtual currencies like Bitcoin.

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

Cooperation or Coercion on Climate: Is the EPA Trying to Deputize the States? - Podcast

Federalism & Separation of Powers Practice Group Podcast
Michael S. Greve, Mario Loyola, Bryan W. Shaw August 04, 2014

It has been argued that EPA's recently announced carbon emissions rule is just the latest attempt to draw states into the implementation of its regulations. The Supreme Court has long been permissive of such "cooperative federalism" programs in both the regulatory and spending contexts, insisting in New York v. United States (1992) and Printz v. United States (1997) that such programs constitute mere "encouragement" not rising to the level of coercion or commandeering. But Texas's fight to resist being drawn into implementing EPA's greenhouse gas regulations suggests that federal "encouragement" can be deeply coercive, employing penalties against the state's economy that courts have no doctrine to account for.

  • Prof. Michael S. Greve, George Mason University School of Law
  • Mario Loyola, Senior Fellow, Texas Public Policy Foundation
  • Dr. Bryan W. Shaw, Chairman, Texas Commission on Environmental Quality

Consumer Financial Protection Bureau Update - July 2014 - Podcast

Financial Services & E-Commerce Practice Group Podcast
Wayne A. Abernathy, Todd J. Zywicki July 21, 2014

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 on this Teleforum conference call. Recent developments included CFPB Director Richard Cordray’s congressional testimony on auto lending discrimination, as well as the congressional testimony of CFPB whistleblower Ali Naraghi on alleged “results-oriented” examinations of regulated entities, bureaucratic inefficiency, and workplace discrimination at the CFPB, and Operation Chokepoint.

  • 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