The latest consumer financial product to come under the regulatory microscope is subprime auto lending, which has seen a boom in the last few years. The subprime auto market's boom underscores a real problem in consumer financial regulation: ... Read full article
I commend to Slips readers Alex Tabarrok's post over at Marginal Revolution entitled " Ferguson and the Modern Debtor’s Prison ." ... Read full article
President Cristina Fernandez de Kirchner has proposed a law authorizing the executive to reroute payments on the restructured bonds out of New York, and to offer all bondholders local-law bonds on 2010 exchange terms. All the buzz has been about the swap. ... Read full article
Here is the proposed law rerouting payments under the restructured, now-defaulted Argentine bonds away from New York. Contrary to some reports, it is not a swap, just a unilateral attempt at firing Bank of New York Mellon and substituting Banco Nacion in ... Read full article
There's a fascinating long magazine piece in the NYTimes about consumer debt sales and collection. The piece ends by asking why we don't have a national debt registry, as if that were the solution to all debt collection problems. ... Read full article
That's the name of a new book by Jake Halpern coming out in October . The New York Times has an excerpt on their site . If the excerpt is anything like the book, it's going to be gripping. ... Read full article
My Consumer Finance students used to think I was wasting their time by spending a whole class session on usury laws and taking them into the nitty-gritty of their application (or non-application). I think usury is important conceptually (but for the ... Read full article
A little bit of payday loan news for our readers. First, the New Mexico Supreme Court has h eld that 1100% high cost installment loans (the payday loan substitute in states where payday loans are illegal) are unconscionable. ... Read full article
I recently read a review of the book Financial Justice: The People’s Campaign to Stop Industry Abuse , by economist Larry Kirsch and University of Utah professor Robert N. Mayer. The favorable review induced me to sit down and read the book, all in one ... Read full article
The Harvard Law School Forum on Corporate Governance and Financial Regulation has a feature on my new paper about the resolution of CCPs (aka clearinghouses). ... Read full article
The Wall Street Journal has run several stories over the past few years about how Indian Tribes are getting rich off payday lending. These stories always tell a fraction of this story, leaving readers with the misperception that all tribes do this ... Read full article
The National Law School of India University (NLSIU), Bangalore, sponsored by the Indian Ministry of Consumer Affairs Department, New Delhi. India, is involved in various research activities in the area of Consumer Protection. It publishes the ... Read full article
Former Virginia Congressman M. Caldwell Butler died last week. ... Read full article
Long overdue, in my opinion, HR 5305 has been introducted by Resident Commissioner Pedro Pierluisi. The one-sentence law would allow the territory of Puerto Rico to join the definition of "State" and hence provide access to chapter 9 for its ... Read full article
From today's Washington Post editoria l: And the battle between Argentina and the hedgies has certainly clarified U.S. law, to wit: If you borrow money, sooner or later, you have to pay it back. ... Read full article
