At the American Law Institute’s annual meeting next Tuesday in Washington, D.C., members will be voting on whether to approve a Tentative Draft of the Restatement of the Law, Consumer Contracts (the “Restatement”). I had the privilege of participating as a panelist on May 6 in a panel discussion about the Restatement at the Thirteenth Annual Judicial Symposium on Civil Justice Issues in Arlington, Virginia, sponsored by the Law & Economics Center of George Mason University’s Antonin Scalia Law School. … Continue Reading
restatement
This week’s podcast: The Restatement of the Law, Consumer Contracts: What is it and why you should be concerned about it
By Barbara S. Mishkin on
Posted in Regulatory and Enforcement
In this podcast, Alan Kaplinsky, who leads our Consumer Financial Services Group, interviews Professor Adam Levitin of Georgetown University Law School about why businesses and consumer advocates are both opposed to the proposed Restatement, which would change the law in ways that will harm businesses and consumers.
Click here to listen to the podcast.… Continue Reading
CFPB General Counsel named adviser to ALI consumer contracts restatement project
By Alan S. Kaplinsky on
Posted in CFPB People, Regulatory and Enforcement
The American Law Institute’s launch of a project to create a “Restatement of the Law Third, Consumer Contracts” could have major consequences for providers of consumer financial services and other companies that contract with consumers. The project’s premise is that because ALI’s existing Restatement Second of Contracts generally takes a “one-size-fits-all” approach that does not distinguish between commercial and consumer contracts, it is inadequate, and a separate restatement of rules applicable to consumer contracts is needed.… Continue Reading