The House of Representatives Financial Services subcommittee is holding a hearing this morning on HR 2359, entitled the "FCRA Liability Harmonization Act," which would reduce consumer remedies for credit reporting abuses. It would impose a $500,000 cap on damages in class actions brought under the Fair Credit Reporting Act and eliminate punitive damages in individual […]
Author Archives: Allison Zieve
Politico reports that, seven months into the Trump administration, Department of Education Secretary DeVos has: — Moved to gut two major Obama-era regulations reviled by the industry that would have cut off funding to low-performing programs and made it easier for defrauded students to wipe out their loans; — Appointed a former for-profit college official, […]
Wells Fargo now says it has found a total of up to 3.5 million potentially fake bank and credit card accounts, up from its earlier tally of approximately 2.1 million. The additional fake accounts were discovered by a previously-announced analysis that went back to January 2009 and that reviewed the original May 2011 to mid-2015 […]
A Washington Post column reminds us: "Today marks your final opportunity to submit comments to federal regulators who want to undo the government's net neutrality rules for Internet providers, in a move that could have sweeping implications for the future of the Web. The push to weaken or eliminate the rules has been met with praise from […]
Beachbody, one of the world’s largest sellers of exercise videos, supplements, and weight-loss programs, has agreed to change its website and sales practices to better protect consumers. The Santa Monica-based company, which claims over 23 million customers, also will pay $3.6 million in penalties and restitution as part of a final court judgment. The judgment […]
Professor Rebecca Tushnet on her 43(B)log has an interesting and thorough discussion today of a recent court decision in a false advertising case, Korolshteyn v. Costco Wholesale Corp. (S.D. Cal. Aug. 23, 2017): Costco’s TruNature Gingko labels represent that the product “supports alertness & memory,” that “Gingko biloba can help with mental clarity and memory,” […]
The president of KidsandCars.org, Janette Fennell, explains: "Under the guise of 'reform,' a bill called the Regulatory Accountability Act (RAA) would add a maze of additional bureaucracy to the life-saving protections. Instead of making it easier to implement protections, the RAA is a recipe for more red tape and additional layers of bureaucracy in a […]
NPR reports on the Trump Administration proposed rule to allow nursing homes to require new residents to agree to arbitration as a condition of admission. A rule issue under the Obama Administration barred nursing homes forced arbitration agreements for nursing homes, leaving it to the two sides to decide whether they preferred court or arbitration […]
Consumer Financial Protection Bureau Director Richard Cordray has an op-ed in the New York Times today, explaining the importance of the CFPB rule barring class-action bans in forced arbitration provisions.His conclusion: "A cherished tenet of our justice system is that nobody should escape accountability for breaking the law. Our rule restores consumers’ legal right to […]
From The Hill: The public has filed over 20 million comments to the Federal Communications Commission over its plan to scrap the net neutrality rules. It's a record for FCC comments and more than five times the number filed on the agency's previous net neutrality proposal in 2015. The comments on that plan held the […]