Professor Alan White was quoted in a Huffington Post story on the Rolling Jubilee, a program created by supporters of the Occupy Wall Street movement designed to buy distressed consumer debt and then have it discharged. “I don’t see a legal problem with somebody buying debt and canceling it. If it’s out there, it can be purchased,” said White. “I do think it’s a completely original idea.” The group has so far bought $14,000 worth of debt for $500 and has successfully had it discharged.
Prof. White is a nationally recognized expert on credit regulation and the residential mortgage market. Professor White is a past member of the Federal Reserve Board’s Consumer Advisory Council, a member of the American Law Institute, and is currently serving as reporter for the Uniform Law Commission’s project on a Residential Real Estate Foreclosure statute.