New York Consumer Law Blog

From the National Consumer Law Center:

 The DC Circuit's October 11 decision in PHH Corp. that the Consumer Financial Protection Bureau is unconstitutional will have far more limited impact on the agency  than one might presume, as explained in this article.

 https://library.nclc.org/ruling-cfpb%E2%80%99s-unconstitutionality-leaves-agency-intact

Indian Police Bust IRS ‘Scam Center’

Police say scammers posing as IRS officials would dial people in the U.S. and threaten them with jail time if they didn’t pay up.
Read more . . .

Class actions are often the only viable mechanism to address widespread consumer harm.  Read more in this insightful piece.

June 26, 2016 12:00 AM

What would you do if your client told you her bank had charged her account a $25 fee she didn’t owe? Would you sue the bank?

Probably not, given that the cost of the litigation would greatly exceed $25. That’s why we have class actions.

Next Thursday, 9/29/16, the Midtown Hilton will be swarming with over four thousand real estate professionals including leaders in the industry.  Come here my brief presentation at 4:30 in the Finance Presentations lineup in the Morgan Suite.  Topic: Client Credit Report Errors: Consumer’s Rights under the FCRA in the Real Estate Context.

 http://www.nycnetworkgroup.
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Should Wells Fargo be forced to pay what it cannot "claw back"? 

Read more here:

http://www.cnbc.com/2016/09/20/its-would-not-be-easy-for-wells-fargo-to-claw-back-banker-pay.html

http://www.cnbc.com/2016/09/20/wells-fargo-has-cut-checks-to-congressional-questioners-campaigns.html

It's a different spin on the system of "checks and balances."

Read more . . .

WINNING ENTRY: Adam G. Singer

WINNER NAME: Zola Creative

AWARD: Read more . . .

From the Washington Post: 

According to the Consumer Financial Protection Bureau, Equifax, Experian and TransUnion, all credit-reporting agencies, are the three most-complained-about companies in America. These companies furnish reports for landlords to examine tenants, for banks to analyze borrowers, for insurance companies to figure out monthly rates and for employers to probe the backgrounds of potential hires — so they wield serious influence over our financial lives and futures.
Read more . . .

"Big data" is real and growing. Know your rights under the Fair Credit Reporting Act and related state statutes. 

http://money.cnn.com/2016/09/06/technology/weapons-of-math-destruction/index.
Read more . . .

What Do Credit Reports Cover?

A great deal of consumer credit and evaluative information is contained in "consumer reports."  These reports -- including but not limited to credit reports -- are covered by the federal Fair Credit Reporting Act (FCRA) as well as by the New York Fair Credit Reporting Act.  Both FCRA statutes give consumers a number of protections regarding the use and accuracy of their data.  Many consumers think that such protections extend only to "typical" credit reports, but in fact there are a broad range of topics that qualify for protection under the FCRA. The statute in 15 U.