Archive for ‘In the Media’

March 18, 2015

Sovern Quoted in Los Angeles Times

Jeff Sovern

Jeff Sovern

The Los Angeles Times quoted Professor Jeff Sovern in an article, Credit-reporting firms’ accuracy push? Finally — but it’s still not enough.  The article, discussing the settlement between the big three credit bureaus and New York’s Attorney General, states:

Last week’s settlement is a step in the right direction. But it doesn’t go far enough.

“These companies still have a lot of power,” said Jeff Sovern, a law professor at St. John’s University in New York. “The Fair Credit Reporting Act favors credit-reporting agencies and creditors over consumers.”

March 18, 2015

Facciolo Authors Article in the New York Law Journal

Jay Facciolo

Jay Facciolo

Professor Jay Facciolo and Leland Solon, one of his former students, have just published an article in the New York Law Journal entitled “Sub-Adviser Fee Litigation: Will Section 36(b) Acquire Teeth?”  It deals with a wave of class action litigation under the Investment Company Act of 1940 that is gaining real traction in challenging allegedly excessive fees paid by mutual funds to investment advisers to the funds.  Successful private actions under the Investment Company Act historically have been few and far between.  This article is a followup to an article that was previously published with the New York Law Journal in October 2013.

Tags:
March 13, 2015

Philadelphia Inquirer Columnist Quotes Sovern

Jeff Sovern

 

Philadelphia Inquirer columnist Jeff Gelles quoted Professor Jeff Sovern in his column, Big 3 clean up act, but credit agencies won’t win any love, earlier this week. The column, about a settlement between credit bureaus and the New York Attorney General’s Office, stated:

Will the credit agencies finally clean up their act . . . ? Consumer-policy experts such as Jeff Sovern, a law professor at St. John’s University, have lingering doubts, because of the credit bureaus’ unique position in the market.

* * * Sovern and Ira Rheingold, executive director of the National Association of Consumer Advocates, explained in a 2013 op-ed that creditors can actually benefit if certain kinds of disputes are never solved.

“For their part, lenders may benefit when credit bureaus report consumer defaults, even incorrectly, because such reports put pressure on consumers who wish to maintain good credit ratings to pay even disputed claims,” Sovern and Rheingold wrote – describing a problem I’ve heard about repeatedly from consumers, who say they paid a small bill they didn’t really owe to preserve their credit score.

Sovern and Rheingold wrote back then that “the marketplace can penalize credit bureaus that investigate too aggressively. Credit bureaus are heavily dependent on lenders for both revenue and the information the bureaus package and sell; if a credit bureau presses a lender too hard, the lender could patronize a different bureau and withhold data about its customers.” Sovern says now that since the new settlement applies to all three bureaus, that should be less of a problem. “We will see,” he says.

Tags:
March 13, 2015

Lazaro Co-Authors Article on Regulation of Investment Advice

On March 4, Professors Christine Lazaro and Ben Edwards co-authored a post for the Christine LazaroCLS Blue Sky Blog, Columbia Law School’s Blog on Corporations and the Capital Markets, entitled “The Fragmented Regulation of Investment Advice: A Call for Harmonization.” The post is based on their article of the same title, which is forthcoming in the Michigan Business & Entrepreneurial Law Review. Here’s the start of the post:
Discussions about regulating investment advice have largely focused on whether to harmonize the laws governing two categories of individuals within the securities world—registered investment advisers and stockbrokers.  The discussion has overlooked insurance brokers who often times also provide investment advice. Lazaro and Edwards broaden the focus by arguing that harmonizing the regulation of investment advice necessarily requires reforms reaching beyond securities regulation and into insurance regulation as well.  They argue that consistent standards should govern the investment advice provided to retail investors regardless of who is giving the advice.
March 12, 2015

Lazaro Participates in SAC Podcast

Christine Lazaro

Christine Lazaro

On February 26, Professor Christine Lazaro participated in the Securities Arbitration Commentator Podcast, “WHITHER (OR WITHER) THE FINRA MEDIATION PROGRAM?” George H. Friedman, former FINRA Director of Arbitration and long-time SAC Board of Editors member, moderated the discussion. In addition to Professor Lazaro, panelists included: mediator Roger M. Deitz, Esq.; Linda Drucker, Esq., Associate General Counsel, Charles Schwab & Co. Inc.; and Joe Peiffer, Esq., Partner, Peiffer Roca Wolf Abdullah Carr and Kane, LLC. SAC chose as the topic of discussion securities mediation today, in general terms, but, more specifically, the continuing role of FINRA’s Mediation Department. FINRA’s mediation program – the first in the securities field – is celebrating its twentieth anniversary this year. Over the past two decades, over 17,000 disputes have been referred to FINRA mediation. As we enter 2015, the program is at a crossroad. The number of staff dedicated to mediation has declined and competitors have emerged in the form of other dispute resolution providers and, even, the mediators themselves.
The program began with an overview of the history of the mediation program at FINRA. The conversation turned next to the contribution that technology now makes to securities mediations and the prospects for the future. Mr. Friedman ended the mediation podcast with a roll call of the panelists on what they foresee for securities mediation and FINRA’s Mediation Department five years from now.
March 9, 2015

Cunningham Quoted in AP Story on Ferguson

Associate Academic Dean (and criminal law professor) Larry Cunningham was quoted in

Larry Cunningham

Larry Cunningham

this Associated Press story about the federal government’s report on racial profiling in Ferguson, Missouri’s police department and the decision of the Ferguson Police Department Chief not to resign.

February 25, 2015

Borgen Interviewed by the BBC

Professor Christopher Borgen was interviewed yesterday by the BBC on the situation in theborgen Ukraine, Russian President Vladimir Putin, and international law. The audio of the interview is here and the relevant segment begins at about the 19.15 minute mark.

February 20, 2015

Crimm and Winer on their Recently Published Book

Professor Nina Crimm and Professor Laurence H. Winer (Arizona State University, Sandranina Day O’Connor College of Law) have written a post on their recently published book, God, Schools, and Government Funding: First Amendment Conundrums (Ashgate, 2015). The post was noted on SCOTUSblog’s Wednesday round-up.

February 19, 2015

Warner Published in Law360

G. Ray Warner

G. Ray Warner

Professor Ray Warner’s article “Rejoice in New York’s Revised UCC, But Beware of Traps” was published in the February 18th issue of Law360.

February 9, 2015

Movsesian Quoted in Deseret News on Religious Objections to Vaccination

Professor Mark Movsesian was quoted in the Deseret News on the subject of the paucity of

Mark Movsesian

Mark Movsesian

religious objections to vaccination and the inapplicability of the Supreme Court’s recent decision in Burwell v. Hobby Lobby Stores to the current controversy concerning the measles outbreak.

Follow

Get every new post delivered to your Inbox.

Join 76 other followers

%d bloggers like this: