CFPB

With nothing else to rank at the moment, U.S. News decided to try its hand at “news” and put out an article analyzing the expected fallout from the new mortgage lending rules coming down from the Consumer Financial Protection Bureau. The new rules are intended to stem the tide of future foreclosures by clamping down on profligate lending.

But all clampdowns leave people out in the cold.

To put this more directly: if you thought being a lawyer with good credit would put you in a position to buy your own home, you’re probably wrong….

double red triangle arrows Continue reading “New Rules Make It Harder For Attorneys To Buy Homes”

Get your cover letters ready, folks, because it’s that time of year again. If you’re a member of the class of 2013 and you’ve been scrambling to find a job for after graduation, you are not alone. The job market for graduating law students is still tough, so we try to bring our readers information about employment opportunities every now and then.

Today we bring you news about an arm of the federal government that is hiring graduating law students as well as experienced attorneys. But if you’re truly interested, you need to act fast; some of these applications are due as early as Monday night….

double red triangle arrows Continue reading “A Government Job for 3Ls — But Applications Are Due ASAP!
(And job opportunities for experienced attorneys too.)

Way to make lawyers look good. Not.

Rather than helping homeowners modify their mortgage loans or avoid foreclosure, Defendants dupe distressed homeowners into paying thousands of dollars based on false promises and misrepresentations. Indeed, Defendants provide little, if any, meaningful assistance to modify homeowners’ mortgage loans or prevent foreclosure.

– The Consumer Financial Protection Bureau’s first federal civil enforcement action, filed earlier this month against the Los Angeles-based Gordon Law Firm. The year-old agency has hit the ground running, also announcing a $210 million settlement with Capital One Bank.

It’ll take some time before a court rules on the legality of Barack Obama’s recess appointment of Richard Cordray to the Consumer Financial Protection Bureau. In case you haven’t been paying attention, Obama nominated Cordray two years ago, but the Republicans have refused to allow his nomination to come to a vote. Obama then wanted to use his recess appointment powers to fill the vacancy while Congress was away, but Republicans have blocked that through a series of sham sessions in which a couple of members gavel in and gavel out in a few seconds every couple of days. Last week, Obama decided those sessions did not constitute real sessions and appointed Cordray anyway, and we’ve all been treated to a week of howling from the right about an “illegal” power grab by the executive branch.

I appeared on the Mike Huckabee Show this weekend and defended the president’s appointment. It felt a lot like writing here at ATL: the live studio audience even booed me to make me feel at home.

But on Friday, Republican lawmakers did something really funny: they asked Eric Holder and the Department of Justice to explain what role the Office of Legal Counsel played in advising or authorizing Obama’s move. I’m immediately reminded of Bones McCoy trying to get back to the quarantined Genesis planet in Star Trek III when he says: “There aren’t gonna be any damned permits! How can you get a permit to do a damned illegal thing?”

Regardless of the legality of the recess appointments, did Obama do the right thing?

double red triangle arrows Continue reading “Recess Appointments: How Do You Stop A Legal Sham?”

It woud be nice if the Senate could have actually given this guy a vote instead of forcing the present ugliness.

* The recess appointment of Richard Cordray to head the CFPB could get tricky — not because Republicans are outraged by recess appointments (much like Democrats are outraged by obstructionist filibusters), but because Congress isn’t technically in recess, due to the sham sessions Congress has been running. [WSJ Law Blog]

* Milbank, if you’re going to brag about being the only major Wall Street firm to have an Orthodox Jewish woman as a partner, you better be telling the truth, you meshuganas. [Thomson Reuters News & Insight]

* The ABA responded to the Duncan Law antitrust suit. Its basic response is that the ABA doesn’t arbitrarily keep bad schools out, it only arbitrarily lets bad schools in. [Law School Transparency]

* But Duncan probably isn’t just in it for the legal fight. The school wants to bring media attention to the ABA’s random oversight of legal education. [Law Librarian Blog]

* Does Obama need to endorse gay marriage before the election? Or does he just tell the gay community “Santorum” until they get on board? [The Root]

* Is it really that surprising that the unemployed are NOT on drugs? Aren’t Republicans the ones who are supposed to understand that in a market, desirable goods cost money? If you want to drug test a constituency, do a random raid at a white-shoe law firm, and don’t forget your chemistry set. [Huffington Post]

* It’s nice to ask permission before you appropriate somebody’s song as your campaign theme. [Fox News]

* Thanks to everybody who voted for us as their favorite legal blog for news in the ABA Journal’s Blawg 100 poll. You’ve given us the strength to keep reporting on spring bonuses, even though they don’t technically exist yet. [ABA Journal]

In light of the tough job market for graduating law students, we’ve been running a series on employment opportunities for 3Ls. Thus far we’ve covered judicial clerkships, the Justice Department Honors Program, the Presidential Management Fellows Program, and the Chief Counsel’s Employment Program at the Office of the Comptroller of the Currency.

Today we bring you news about another arm of the federal government that is hiring graduating law students as well as experienced attorneys. But if you’re interested, you need to act fast; applications are due as early as tomorrow….

double red triangle arrows Continue reading “More Jobs for 3Ls — But Applications Are Due ASAP!
(And job opportunities for experienced attorneys too.)