From the Bangor Daily News: A federal judge has overturned Maine’s first-in-the-nation law allowing residents to purchase medication by mail from other countries. U.S. Chief District Judge Nancy Torresen’s ruling Monday comes more than a year after several Maine pharmacy groups filed suit against the state over the 2013 law, arguing it jeopardizes the safety […]
Author Archives: Allison Zieve
From the New York Times: After two years of imposing increasingly stiff penalties on automakers that overstate their fuel economy ratings, federal regulators on Monday said they would tighten guidelines used in determining the mileage advertised to consumers. Next year, automakers will face stricter rules for conducting a crucial test or face an audit by […]
Consumer Financial Protection Bureau Chairman Richard Cordray spoke yesterday at a meeting of the National Association of Attorneys General. His remarks are posted here. Chairman Cordray discussed CFPB's efforts to address deceptive marketing, debt traps, "dead ends" (a discussion of credit scores and debt collection), and discrimination.
Read Warren: Wall Street using small banks to weaken rules in today's The Hill.
The Federal Trade Commission announced its annual summary of activity enforcing the Fair Debt Collection Practices Act: Over the past year, the Federal Trade Commission has continued its vigorous work on behalf of U.S. consumers suffering from unlawful debt collection practices, including bringing law enforcement actions against abusive and fraudulent operations, conducting education and public […]
Yesterday, the Consumer Financial Protection Bureau released "a report highlighting the top complaints for reverse mortgages. According to the report, consumers are frustrated with their loan terms, servicer runarounds, and foreclosure problems. To help consumers who already have a reverse mortgage, the CFPB [also issued] an advisory with tips on how to plan ahead to […]
Business groups such as the Chamber of Commerce are pushing the Federal Communications Commission to loosen standards under the Telephone Consumer Protection Act — the law that bars unwanted telemarketing calls and junk faxes. If the groups are successful, the result, say consumer advocates, would be more robocalls calls coupled with more difficultly suing for […]
The Washington Post has two articles today about regulation (or lack of regulation) of sharing services like Uber and Airbnb. In an article entitled "Uber might actually want regulation. Here’s why," the Post reports: Though they are loath to admit it, ridesharing outfits like Uber and Lyft have profited in no small part from dodging […]
The New York Times reports today: The New York State attorney general’s office accused four major retailers on Monday of selling fraudulent and potentially dangerous herbal supplements and demanded that they remove the products from their shelves. The authorities said they had conducted tests on top-selling store brands of herbal supplements at four national retailers […]
"Troubled by consumer complaints and loopholes in state laws, federal regulators are putting together the first rules on payday loans aimed at helping cash-strapped borrowers avoid falling into a cycle of high-rate debt," the New York Times reports this morning. Read "Rules Are Coming on Payday Loans to Shield Borrowers," here.