Consumer Protection Law Commons^™

The Price Of Crisis: Eminent Domain, Local Governments, And The Value Of Underwater Mortgages, Raymond H. Brescia, Nicholas Martin

Raymond H Brescia

In response to the lingering fallout from the Financial Crisis of 2008, local governments have begun to explore whether it is wise and legal to use the power of eminent domain to seize distressed home mortgages. This Article attempts to situate this approach to such mortgages within the larger economic, legal and policy context and asks three key questions. First, are local governments appropriate actors to address the lingering problem of underwater mortgages? Second, assuming they are appropriate actors to address this problem, how should localities and, if necessary, courts, value underwater mortgages in the context of condemnation proceedings: i ...

Armed, Unarmed Or Harmed By Knowledge? A Comment On The Fha's Housing Counseling Pilot Program, David J. Reiss

David J Reiss

The FHA has requested input on its Homeowners Armed with Knowledge (HAWK) for New Homebuyers pilot program. This comment letter argues that housing counseling is not a proven solution to the problem it is meant to solve, excessive defaults by FHA borrowers. HAWK is a traditional housing counseling program but the scholarly literature casts into doubt the efficacy of such programs. It would be better to take time to research which counseling strategies, if any, are proven to be effective. This is true for the FHA but also for other government agencies, such as the Consumer Financial Protection Bureau, that ...

Too Complex To Perceive? Drafting Cash Distribution Waterfalls Directly As Code To Reduce Complexity And Legal Risk In Structured Finance, Master Limited Partnership, And Private Equity Transactions, Ralph C. Mayrell

Pace Law Review

This Article proposes that complex structured finance transactions involving sophisticated investors should adopt an analogous solution to the home construction agreements’ strategy of contracting by reference to blueprints. First, dealmakers should, preferably by choice, place as much of their waterfall distribution specification and related inputs as possible into automated, programmatic representations that will be used to make the actual distribution. In many cases, these agreements already have programmatic representations, so this change should pose relatively few practical challenges logistically. Second, they should, like their counterparts in construction contracts, define the terms of those waterfalls by reference to their functional representations ...

Discrimination In Customer Segmentation Marketing Practices, Jude A. Thomas

Jude A Thomas

Customer segmentation is a powerful analytical marketing practice that is employed by a wide range of businesses to segregate customers with similar characteristics into subgroups in order to inform operational business processes. Such practices allow firms to better allocate their resources in order to form more profitable customer relationships, but they also have the capacity to lead to unfair discriminatory impact upon customer groups. Current legislation is largely unprotective of customers so positioned, but recent trends in the insurance and lending industries suggest that a broader application of anti-discrimination laws could foretell a future of greater restrictions on the implementation ...

The Continuing Battle Of Fda Regulation Of Dietary Supplements And Their Adverse Affect On Young Adults And Other Individuals, Andrew Bernard Jaffe

Andrew Bernard Jaffe

THE CONTINUING BATTLE OF FDA REGULATION OF DIETARY SUPPLEMENTS AND THEIR ADVERSE AFFECT ON YOUNG ADULTS AND OTHER INDIVIDUALS

Abstract

Ever since the enactment of the Dietary Supplement Health and Education Act of 1994 (DSHEA) the Food and Drug Administration (FDA) has struggled to regulate dietary supplements. This is due to the definition of dietary supplements as foods in the act. This gives supplement manufacturers greater loopholes when introducing supplements on the market. The FDA’s inability to regulate dietary supplements efficiently has been present for decades. Multiple battles are still occurring today which is proven to have an adverse ...

Summary Of Century Sur. Co. V. Casino W., Inc., 130 Adv. Nev. Op. 42, Michael Paretti

Nevada Supreme Court Summaries

The court determined whether two distinct provisions of an insurance policy regarding air pollution were subject to multiple reasonable interpretations.

Summary Of Lavi V. Eighth Judicial District Court, 130 Nev. Adv. Op. 38, Danielle Barraza

Nevada Supreme Court Summaries

The Court determined whether waiver of the “one-action rule” of NRS 40.430 terminates the procedural requirements for bringing a deficiency judgment action within six months of foreclosure under NRS 40.455.

Questioni Giuridiche Connesse All'emissione E All'uso Delle Carte Di Credito Revolving, Valerio Sangiovanni

Valerio Sangiovanni

No abstract provided.

A Psychological Account Of Consent To Fine Print, Tess Wilkinson-Ryan

Faculty Scholarship

The moral and social norms that bear on contracts of adhesion suggest a deep ambivalence. Contracts are perceived as serious moral obligations, and yet they must be taken lightly or everyday commerce would be impossible. Most people see consent to boilerplate as less meaningful than consent to negotiated terms, but they nonetheless would hold consumers strictly liable for both. This Essay aims to unpack the beliefs, preferences, assumptions, and biases that constitute our assessments of assent to boilerplate. Research suggests that misgivings about procedural defects in consumer contracting weigh heavily on judgments of contract formation, but play almost no role ...

A Disclosure-Focused Approach To Compelled Commercial Speech, Andrew C. Budzinski

Michigan Law Review

In 2010, the Food and Drug Administration passed a rule revising compelled disclaimers on tobacco products pursuant to the Family Smoking Prevention and Tobacco Control Act. The rule required that tobacco warnings include something new: all tobacco products now had to bear one of nine graphic images to accompany the text. Tobacco companies filed suit contesting the constitutionality of the rule, arguing that the government violated their right to free commercial speech by compelling disclosure of the graphic content. Yet First Amendment jurisprudence lacks a doctrinally consistent standard for reviewing such compelled disclosures. Courts’ analyses typically depend on whether the ...

Private Rights Under The Housing Act: Preserving Rental Assistance For Section 8 Tenants, John M. Lerner

Boston College Journal of Law & Social Justice

The Housing Choice Voucher Program provides low-income families with federally funded rental assistance. In order to receive rental assistance, tenants and landlords must maintain units in compliance with the Housing Quality Standards promulgated by the United States Housing Act. A failure by either party to comply with the Housing Quality Standards results in a termination of the federal funding. Unfortunately for voucher recipients, this means that they can be stripped of their rental assistance through no fault of their own. To remedy this situation, many tenants have tried to bring an action against their landlord, alleging a violation of the ...

One-Step Forward: The D.C. Circuit Provides Clarity To The Incremental Approach To Rulemaking, Cory Lewis

Boston College Environmental Affairs Law Review

In 2011, EPA issued the Deferral Rule, excusing generators of biogenic b-CO2—emitted from the combustion of biological materials—from Clean Air Act (CAA) regulations for three years. Citing the need to study b-CO2, EPA invoked three legal doctrines to justify the rule: the de minimus, one-step-at-a-time, and administrative necessity doctrines. This Comment addresses Center for Biological Diversity v. Environmental Protection Agency, where the Center for Biological Diversity challenged the Deferral Rule in the U.S. Court of Appeals for the D.C. Circuit. The D.C. Circuit vacated the rule. Although the court did not decide the issue of ...

The Public Right-To-Know On A Need-To-Know Basis: Striking The Balance Between National Security And Environmental Protection, Brian Reilly

Boston College Environmental Affairs Law Review

Enforcing environmental laws does not immediately appear to be fundamentally inconsistent with maintaining national security. Many people have criticized the Emergency Planning and Community Right to Know Act, however, as potentially placing American citizens at risk of a terrorist attack. This Note discusses the difficulties associated with striking the balance between giving citizens access to important environmental information while limiting terrorists’ ability to misuse that same information. Although this issue is a difficult one on its own, it is compounded by recent developments affecting standing in environmental citizen suits. This Note argues that even if the proper balance is struck ...

Rationality's Reach, Adam B. Badawi

Michigan Law Review

Economic analysis and the rational actor model have dominated contracts scholarship for at least a generation. In the past fifteen years or so, however, a group of behaviorists has challenged the ability of the rational choice model to account for consumer behavior. These behaviorists are not trying to dismantle the entire enterprise. They generally accept the fundamentals of economic analysis but argue that the rational actor model can be improved by incorporating evidence of decisionmaking flaws that people exhibit. Oren Bar-Gill has been one of the foremost and influential proponents of a behaviorist take on contracts, and his recent book ...

Debt-Buyer Lawsuits And Inaccurate Data, Peter A. Holland

Faculty Scholarship

Pursuant to secret purchase and sale agreements (also known as forward flow agreements), the accounts that banks sell to debt buyers are often sold “as is,” with explicit and emphatic disclaimers that the debts may not be owed, the amounts claimed may not be accurate, and documentation may be missing. Despite their full knowledge that the accuracy and completeness of the data has been specifically disclaimed by the bank, when they sue consumers, debt buyers tell courts that the information obtained from the bank is inherently reliable and accurate. In order to avoid a fraud on the courts, the contents ...

American Trucking V. Port Of Los Angeles: Is The Castle Doctrine A Ticking Time Bomb, Potentially Eliminating Ports’ Control Of Cargo Trucking?, Katherine B. Puccio

Boston College Environmental Affairs Law Review

As the Port of Los Angeles and the shipping industry continue to expand, states struggle to regulate the heavy trucking businesses that support the shipping companies. In American Trucking Assn’s, Inc. v. City of Los Angeles, the Supreme Court struck down as preempted by the Federal Aviation Administration Authorization Act of 1994 parts of a Concession Agreement that sought to regulate the relationship between these trucking companies and the Port. The Court declined to decide a second question of whether the Port could punish trucking companies that routinely fail to comply with regulations. This Comment argues that the FAAAA ...

Pro-Rata Apportionment In “Long-Tail” Contamination Cases: Will Presumed Efficiencies Undercut Environmental Cleanups?, Benjamin S. Reilly

Boston College Environmental Affairs Law Review

Environmental contamination often causes injuries that occur over long periods of time. These “long-tail” injuries, which tend to span periods during which a liable party was covered by multiple insurers, do not map neatly onto standard indemnification insurance policies. As a result, liable parties and their insurers frequently engage in protracted litigation to minimize the portion that they must contribute to environmental remediation projects. In Boston Gas Co. v. Century Indemnity, the U.S. Court of Appeals for the First Circuit upheld an application of Massachusetts’s recently announced pro rata apportionment rule, which greatly reduced the insurer’s liability ...

Toxic Solid Waste Leaching From Telephone Poles? Navigating Ambiguous Definitions In Rcra, Cadesby B. Cooper

Boston College Environmental Affairs Law Review

This Comment analyzes the U.S. Court of Appeals for the Ninth Circuit’s ruling in Ecological Rights Foundation v. Pacific Gas & Electric Co. The plaintiff alleged that two utility companies operated utility poles that discharged wood preservative in violation of the Clean Water Act and the Resource Conservation and Recovery Act (RCRA). The plaintiff’s RCRA claim depended on whether the wood preservative was a “solid waste” according to the Act. The Ninth Circuit dismissed the claims but acknowledged that RCRA has two definitions of solid waste, and the wood preservative was not a solid waste according to the ...

Public School Governance And Cyber Security: School Districts Provide Easy Targets For Cyber Thieves, Michael A. Alao

michael a alao

School districts rely on information systems to a similar extent as private, business organizations, yet the rules and regulations to ensure that school districts maintain adequate security to prevent data breaches and theft have failed to keep pace with private-sector developments. Advances in the private sector include notice-of-breach laws, consumer protection laws limiting individual liability for fraudulent electronic funds transfers, and auditing and reporting of internal controls. The public sector, including school districts, has also made advances in cyber security rules and regulations, but to a more limited extent than the private sector. Because of the sheer number of public ...

The New Policing Of Business Crime, Rachel E. Barkow

Seattle University Law Review

The central goal of this Article is to describe the burgeoning turn to new policing techniques in the business crime context and to offer some initial thoughts on the promises and limits of the approach. Part II begins by explaining the traditional or “old policing” of business crime. After implementing an initial strategy that focused on pursuing individuals, the government turned its attention to the organizations where those individuals operated. It increased the sanctions for violators and sought to target companies in an effort to prompt them to adopt internal compliance pro-grams. The focus on company compliance programs was designed ...