Common Scams that Target Veterans

Unfortunately, Veterans are often targets for a wide variety of scams. Being able to identify a potential scam is vital in protecting oneself from a wide variety of risks including identity theft, loss of assets or income, or even the loss of a home. Below are three of the common scams that often target Veterans…

Chalk One Up For Consumers!

Chalk one up for consumers! The California Supreme Court unanimously held that interest rates may render a consumer loan unconscionable even in the absence of a statutory interest rate cap. http://www.courts.ca.gov/opinions/documents/S241434.PDF. The ruling has also been covered in the LA Times and the American Banker.  This allows courts to take into account the facts and equities…

Calling for Consumer Protection

In a time when we need consumer protection, the U.S. Consumer Financial Protection Bureau (CFPB) has unfortunately decided to pull back its activities and seek to promote a free market for financial services, according to a new article by Reuters today. The CFPB will release a new strategic plan this week that will detail changes…

CFPB Rules

The CFPB is finally issuing its arbitration rule! I have not yet fully read the rule, but the substance seems to say the same as the proposed rule. It doesn’t make arbitration clauses unenforceable, just the use of arbitration clauses to preclude class actions.  Essentially, the press release read in part:   “Today’s rule prohibits…

Rules Prohibiting Schools’ Use of Mandatory Arbitration Agreements

On October 28, the Department of Education issued final regulations intended to protect student loan borrowers against school closures and fraud.  To that end, the rules include significant provisions restricting school arbitration agreements; clarifying student rights to raise school fraud as a defense to loan repayment; providing automatic closed school loan discharges to certain eligible…