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Full-Text Articles in Consumer Protection Law
The Content Of Consumer Law Classes Ii, Jeff Sovern
The Content Of Consumer Law Classes Ii, Jeff Sovern
Faculty Publications
This paper reports on a 2010 survey of law professors teaching consumer protection, and follows up on a similar 2008 survey, which appeared in Jeff Sovern, The Content of Consumer Law Classes, 12 J. CONSUMER & COMMERCIAL L. 48 (No. 1 2008), available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1139894. The 2010 survey found more uniformity in topic selection than the 2008 survey. All thirteen professors who taught survey courses reported that they taught common law fraud, UDAP statutes, the Truth in Lending Act, and the Fair Credit Reporting Act, while all but one covered the Fair Debt Collection Practices Act, the Federal Trade …
Preventing Future Economic Crises Through Consumer Protection Law Or How The Truth In Lending Act Failed The Subprime Borrowers, Jeff Sovern
Faculty Publications
This Article argues that one cause of the current economic crisis was that the federal Truth in Lending Act (TILA) failed to provide mortgage borrowers with the tools to determine whether they would be able to meet their loan obligations, and that as a result many borrowers assumed loans on which they would later default. The Article first explores the disclosures for adjustable-rate mortgages-which were commonly used for subprime loans-and explains how those disclosures misled borrowers about their monthly payments. Next, the Article reports on a survey of mortgage brokers conducted in July of 2009. The brokers were nearly unanimous …