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Homeowners say they were blindsided by the start of foreclosure actions on their homes over second loans that were taken out more than a decade ago. ....
Congress Looks to Judicial Overrides to Strengthen Consumer Protections The under-utilized tool would allow Congress to reverse SCOTUS rulings that insulate lenders and corporations from regulation. Graeme Sloan/Sipa USA via AP Images An important check on judicial power, statutory overrides have fallen by the wayside in recent years. This piece has been co-published with . In a unanimous decision last Thursday, the U.S. Supreme Court issued a ruling that would limit the ability of the Federal Trade Commission to seek monetary relief for customers who have been defrauded by corporate lenders. Under the new ruling, the FTC would only be allowed to pursue restitution in the form of injunctions, not cash payments, for customers who fell victim to deceptive practices like short-term or payday loans. ....
Congress Looks to Judicial Overrides to Strengthen Consumer Protections theintercept.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theintercept.com Daily Mail and Mail on Sunday newspapers.