Consumer Protection Law Commons^™

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 …

The Future Of Fannie And Freddie, Mark Calabria, David Reiss, Lawrence White, Mark Willis

Cornell Law Faculty Publications

This is a transcript of a panel discussion titled, “The Future of Fannie and Freddie.” The panelists were Dr. Mark Calabria from the Cato Institute; Professor David Reiss from Brooklyn Law School; Professor Lawrence White from NYU Stern School of Business; and Dr. Mark Willis from NYU’s Furman Center for Real Estate and Urban Policy. The panel was moderated by Professor Michael Levine from NYU School of Law. Panelists looked at economic policy and future prospects for Fannie and Freddie. The remarks have not been edited by the panelists.

Who Knew? Refining The "Knowability" Standard For The Future Of Potentially Hazardous Technologies, Scott P. Kennedy

Washington Journal of Law, Technology & Arts

As consumer technology becomes increasingly complex, so too does the manufacturer’s task in assessing the scope of its duty to warn of potential dangers. A recent decision by the United States Court of Appeals for the Ninth Circuit, Rosa v. Taser International, Inc., offers a prime illustration of this challenge through its analysis of a hazard posed by Taser weaponry. The Rosa court highlights a point of uncertainty in this area of law: courts typically determine which hazards were knowable at the time of manufacture as a matter of law, but they sometimes do so in the absence of …

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, …

Depicting The Graphic Truth: The Heated Controversy Over Cigarette Warning Labels And The Boundaries Of First Amendment Protection, Brian Fedele

Cardozo Public Law, Policy & Ethics Journal

No abstract provided.

Deferred Prosecutions In The Corporate Sector: Lessons From Libor, Justin O'Brien, Olivia Dixon

Seattle University Law Review

Since 2008, the global economic downturn has significantly in-creased operating pressures on major corporations. Additionally, there has been a corresponding increase in corporate tolerance for corruption, which has coincided with a marked preference by regulators in settling, rather than litigating, enforcement actions. This Article argues that the expansion of prosecutorial authority without appropriate accountability restraints is a major tactical and strategic error. It evaluates whether the mechanism can be made subject to effective oversight. It argues that the current frame-work in the United States is highly problematic, leading to settlements that generate newspaper headlines but not necessarily cultural change. It …

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 …

Australia’S Experience With Foreign Direct Investment By State Controlled Entities: A Move Towards Xenophobia Or Greater Openness?, Greg Golding

Seattle University Law Review

Over the last few years, there has been considerable debate in Australia as to the appropriate regulation of foreign direct investment by entities affiliated with foreign governments. During that time, Australia has been a significant beneficiary of investment by sovereign wealth funds from many foreign jurisdictions, particularly by Chinese state owned enterprises. The Australian government, similar to governments of many developed Western countries, has struggled to properly calibrate its policy settings for regulating this type of investment activity. This Article considers the Australian regulatory regime and assesses Australia’s experience in regulating those investment flows during this period.

Are Defined Contribution Pension Plans Fit For Purpose In Retirement?, Jeremy R. Cooper

Seattle University Law Review

This Article considers the historical basis for the shift from defined benefit plans to defined contribution plans, the structural and practical shortcomings of defined contribution plans, alternate pension models, and adjustments to existing retirement plan models that may offer a degree of protection to plan contributors. Like the United States, Australia is now realizing the limitations of a defined contribution retirement system insofar as it relates the provision of reliable retirement income for a population with increasing life expectancy. Unlike defined contribution plans, defined benefit plans provide a benefit based typically on time served and a predetermined proportion of either …

Complex Decision-Making And Cognitive Aging Call For Enhanced Protection Of Seniors Contemplating Reverse Mortgages, 46 Ariz. St. L.J. 299 (2014), Debra Pogrund Stark, Jessica M. Choplin, Joseph Mikels, Amber Schonbrun Mcdonnell

UIC Law Open Access Faculty Scholarship

This article analyzes the factors that affect the effectiveness of the current rules and counseling protocol in enabling seniors to make well-informed decisions on whether to enter into a proposed reverse mortgage in light of the cognitive barriers that consumers in general, and seniors in particular, face. The article then proposes further changes to these rules and the counseling protocol to better enable seniors to determine whether entering into reverse mortgages is in their best interest in light of their specific financial situations and goals. Section I provides an overview of the current status of the law relating to reverse …

Regulatory Arbitrage, Extraterritorial Jurisdiction, And Dodd-Frank: The Implications Of Us Global Otc Derivative Regulation, Christian Johnson

Nevada Law Journal

No abstract provided.

House Swaps: A Strategic Bankruptcy Solution To The Foreclosure Crisis, Lynn M. Lopucki

Michigan Law Review

Since the price peak in 2006, home values have fallen more than 30 percent, leaving millions of Americans with negative equity in their homes. Until the Supreme Court’s 1993 decision in Nobelman v. American Savings Bank, the bankruptcy system would have provided many such homeowners with a remedy. They could have filed bankruptcy, discharged the negative equity, committed to pay the mortgage holders the full values of their homes, and retained those homes. In Nobelman, however, the Court misinterpreted reasonably clear statutory language and invented legislative history to resolve a three-to-one split of circuits in favor of the minority view …

Enforcement Of The Duties Of Directors By The Securities And Futures Investors Protection Center In Taiwan, Christopher C. H. Chen

Research Collection Yong Pung How School Of Law

The purpose of this article is to examine the role of the Securities and Futures Investors Protection Center (SFIPC) in Taiwan in enforcing the duties of directors. To help shareholders or investors pursue a director for breach of company law or securities regulations, Taiwan created the SFIPC, a charity sanctioned by statutes, to bring class action or direct legal action on behalf of minority shareholders or individual investors. By conducting an empirical survey of judgments from lawsuits involving the SFIPC since its creation, we found that the SFIPC is generally very active in enforcing securities regulations but far less active …

Junk Justice: A Statistical Analysis Of 4,400 Lawsuits Filed By Debt Buyers, Peter A. Holland

Faculty Scholarship

Debt buyers have flooded courts nationwide with collection lawsuits against consumers. This article reports the findings from the broadest in-depth study of debt buyer litigation outcomes yet undertaken. The study demonstrates that in debt buyer cases, (1) the vast majority of consumers lose the vast majority of cases by default the vast majority of the time; (2) consumers had no lawyer in ninety-eight percent of the cases; and (3) those who filed a notice that they intended to defend themselves without an attorney fared poorly, both in court and in out of court settlements.

This study challenges the notion that …

Protecting Health Privacy In An Era Of Big Data Processing And Cloud Computing, Frank A. Pasquale, Tara Adams Ragone

Faculty Scholarship

This Article examines how new technologies generate privacy challenges for both healthcare providers and patients, and how American health privacy laws may be interpreted or amended to address these challenges. Given the current implementation of Meaningful Use rules for health information technology and the Omnibus HIPAA Rule in health care generally, the stage is now set for a distinctive law of “health information” to emerge. HIPAA has come of age of late, with more aggressive enforcement efforts targeting wayward healthcare providers and entities. Nevertheless, more needs to be done to assure that health privacy and all the values it is …

Buzzkill: Use Of Product Liability Doctrines In Litigation Against Energy Drink Manufacturers, Jeremy Kogan

Loyola Consumer Law Review

No abstract provided.

Dietary Supplement Labeling: Cognitive Biases, Market Manipulation & Consumer Choice, Michael Mccann

Law Faculty Scholarship

There exists increasing concern that the Dietary Supplements Health and Education Act (DSHEA) has proven ineffective. Much of the concern regards the disparity in legislative treatment between dietary supplements, foods, and pharmaceutical drugs. Namely, while pharmaceutical drugs must undergo years of costly pre-market testing, most supplements, like foods, can immediately enter the market, and only after repeated instances of adverse reactions can the Food and Drug Administration (FDA) remove them. Such a framework appears to belie both consumer expectations and marketing strategies, as supplements tend to be most perceived for their apparent medicinal qualities. This philosophy of waiting for a …

Stuck Between A Rock And A Hard Place: Are Public Accounting Firms Subject To Diverging Standards Of Conduct Between Federal Courts And The Pcaob In Securities Fraud Claims?, Pierre Ciric

Journal of Business & Technology Law

No abstract provided.

Now You See It, Now You Don’T . . . Or Do You?: Snapchat’S Deceptive Promotion Of Vanishing Messages Violates Federal Trade Commission Regulations, 30 J. Marshall J. Info. Tech. & Privacy L. 827 (2014), Danielle Young

UIC John Marshall Journal of Information Technology & Privacy Law

This Comment will explore the recently popular application Snapchat, and discuss the ways in which the app's privacy policy has violated FTC regulations, responding to a recent complaint filed by The Electronic Privacy Center. Particularly, this Comment will focus on Snapchat's deceptive promotion of "disappearing" photographs and videos. Section II will illustrate the basic structure of Snapchat, detailing various illustrations of its use. Section II will also examine the regulations set forth by the FTC that Snapchat is required to follow. Section III will discuss possible methods that the average user can do in order to bypass the very thing …

Canada’S Anti-Spam Legislation: A Constitutional Analysis, 31 J. Marshall J. Info. Tech. & Privacy L. 1 (2014), Emir Crowne, Stephanie Provato

UIC John Marshall Journal of Information Technology & Privacy Law

On December 15th, 2010, the Government of Canada agreed to Bill C-28, the Fighting Internet and Wireless Spam Act, with the intent to “deter the most damaging and deceptive forms of spam… from occurring in Canada and to help to drive out spammers.” Canada‟s Anti- Spam Legislation (“CASL”) was born. Although CASL has only been in force since July 1st, 2014, we argue that the Act may not survive constitutional scrutiny as it unduly restricts freedom of speech.

California’S Eavesdropping Law Endangers Victims Of Domestic Violence, 31 J. Marshall J. Info. Tech. & Privacy L. 57 (2014), John E.B. Myers

UIC John Marshall Journal of Information Technology & Privacy Law

No abstract provided.

The Right To Be Forgotten: Forced Amnesia In A Technological Age, 31 J. Marshall J. Info. Tech. & Privacy L. 133 (2014), Robert Bolton

UIC John Marshall Journal of Information Technology & Privacy Law

In the modern era, the connection between technology and one’s personal life has increased the number of moments recorded for posterity. While in many circumstances this is an ideal opportunity for fond recollection, it has the downside of displaying for others our less flattering moments. Because the Internet has such a wide scope, once something has entered its domain, it is virtually impossible to permanently remove. With a public increasingly perceiving this winnowing of privacy as a negative tendency, legislators both at home and abroad have made proposals that attempt to place restrictions on what content social media is allowed …

Facebook Messenger: Eroding User Privacy In Order To Collect, Analyze, And Sell Your Personal Information, 31 J. Marshall J. Info. Tech. & Privacy L. 393 (2014), Erica Jaeger

UIC John Marshall Journal of Information Technology & Privacy Law

This comment will examine Facebook‘s new standalone Facebook Messenger app, and review how the Privacy Policy, Data Use Policy, and the list of permissions violate Section 5 of the Federal Trade Commission Act. The comment will focus on Facebook Messenger‘s deceptive methods of accessing users‘ personal information and how Facebook uses that personal information. Section II will explain social networking sites and the configuration of Facebook, Facebook Messenger, and Facebook‘ s evolving policies. Section II will also discuss the Federal Trade Commission and the Federal Trade Commission Act that was created to protect consumers against unfair, deceptive, or fraudulent practices.15 …

Situational Duress And The Aberrance Of Electronic Contracts, Nancy S. Kim

Chicago-Kent Law Review

This article explains how the aberrant nature of electronic contracts has unique implications, which contract law should recognize. Companies, taking advantage of these unique implications, may use electronic contracts in an unfair and coercive manner, which is why this article proposes expanding the definition of duress to include “situational duress.” Situational duress would not encompass all electronic contracting scenarios, but would be limited to situations where (1) a drafting company uses an electronic contract to block consumer access to a product or service; (2) the consumer has a “vested interest” in that product or service; and (3) the consumer accepts …

Does State National Bank Of Big Spring V. Geithner Stand A Fighting Chance?, Devon J. Steinmeyer

Chicago-Kent Law Review

Two years after the start of the 2008 financial crisis and during one of the worst economic recessions since the Great Depression, Congress passed a law designed to insure a financial crisis of the same magnitude would not occur again, and if it did, it would not have the same wide-reaching effects the 2008 crisis had. The Dodd-Frank Wall Street Reform and Consumer Protection Act sought to, among other things, end “too big to fail,” consolidate the consumer protection agencies, and provide for the orderly liquidation of defaulting systematically important companies. State National Bank of Big Spring v. Geithner, a …

"Dodd-Frank 2.0: Creating Interactive Home-Loan Disclosures To Enable Shrewd Consumer Decision-Making", Debra Pogrund Stark, Jessica M. Choplin, Mark Leboeuf, Andrew Pizor

Loyola Consumer Law Review

No abstract provided.

Junk Justice: A Statistical Analysis Of 4,400 Lawsuits Filed By Debt Buyers, Peter A. Holland

Loyola Consumer Law Review

No abstract provided.

Pliva, Inc. V. Mensing Aftermath: Informed Consent Lawsuits A Potential Solution For Some Generic Drug Consumers Injuried By Inadequate Warning Labeling, Deena K. Herndon-Remy

Loyola Consumer Law Review

No abstract provided.

Production Liability After Unintended Acceleration: How Automotive Litigation Has Evolved, Aaron Ezroj

Loyola Consumer Law Review

No abstract provided.

Office Of Servicemember Affairs Showing Results Early On, Joseph Axelrod

Loyola Consumer Law Review

No abstract provided.