This course will survey the state and federal regulation of consumer credit transactions such as home mortgages, credit cards, personal property loans (such as automobiles, boats, furniture and appliances); pay day loans, and other alternative credit devices. The course will include a study of traditional consumer protection laws such as those contained in state usury laws and the Texas Consumer Credit Code, as well as emerging legislative and regulatory trends. The course will include review of the impact of the Dodd Frank financial reform bill on both state and federal consumer credit laws. The course will address the availability and limitations of private remedies (including class actions) as well as public agency enforcement. The course will also look at the tension between state regulation and federal preemption as highlighted in such recent Supreme Court cases as well as the impact of the recent Dodd Frank act on federal preemption. It is anticipated that the class will include guests or panels from the state consumer financial regulatory community and consumer advocacy groups that are active in litigation and legislative efforts on the consumer lending front. In lieu of a final exam, students will be required to complete two writing assignments. Each assignment should be not less than 10 pages nor more than 20 pages.
Fleming, John C.