As explained in this article by Roni Rabin and Reed Abelson, New York [s]tate insurance regulators say they have approved rates for 2014 that are at least 50 percent lower on average than those currently available in New York. Beginning in October, individuals in New York City who now pay $1,000 a month or more […]
Author Archives: Brian Wolfman
A nice overwiew by Danielle Douglas. Among other things, the article makes the point that, with the the CFPB's basic authority to act unquestionably in place, the agency can operate from a position of strength, both in taking unaliteral action and in negotiations with regulated parties. Of course, individual actions and regs will be subject […]
The Consumer Financial Protection Bureau has published five sample "action letters" that consumers may want to use to reply to debt collectors. The agency says that these letters can "help consumers get valuable information about claims being made against them or protect themselves from inappropriate or unwanted collection activities." 1 – There's the "more information" […]
We've covered pay-for-delay patent settlements extensively (go here, here, here, and here) and reported on the Supreme Court's June 17, 2013 decision in FTC v. Actavis. In a pay-for-delay settlement, a brand-name drug company pays a generic company that has challenged the brand-name company's patent to stay out of the market. Some early antitrust challenges to […]
History shows that public education and other efforts to combat entrenched but potentially deadly behavior harmful to health — such as tobacco use — must be sustained, well-funded, and flexible. Efforts to deal with childhood obesity begun in just the past decade may be beginning to pay dividends, as explained in this article by Lydia […]
Read this Charlotte observer story on the suit. Here's an excerpt: A lawsuit in federal court in Colorado accuses Charlotte-based Bank of America of racketeering, in what amounts to more fallout for the bank stemming from a federal mortgage-modification program. The suit, filed Wednesday, claims violations of the federal Racketeer Influenced and Corrupt Organizations Act, […]
Senators Warren and McCain have introduced legislation to prevent banks from engaging in certain financial speculation. Its explained in this article by Peter Eavis. Here's a brief excerpt: Senator Elizabeth Warren on Thursday introduced an aggressive piece of legislation that intends to take the financial industry back to an era when there was a strict […]
Following up on Allison's post about a tentative deal in the Senate on student-loan interest rates, this Bloomberg story spells it out. Here are the basics, including a description of what has already been passed in the House: The House-passed plan, H.R. 1911, would charge students 2.5 percentage points more than the yield of the […]
Wal-Mart has been thinking about putting at least three large stores in the District of Columbia and had spent a chunk of money in the planning phase. Meanwhile, the D.C. City Council has been considering minimum-wage legislation that would require certain large retailers, including Wal-Mart, to pay its workers at least $12.50 per hour (or […]
We reported earlier that the interest rate for new federal student loans doubled from 3.4% to 6.8% on July 1 because Congress failed to agree on new legislation. The Senate tried again yesterday, but again failed. A bill sponsored by Senate Democrats would have brought the rate back down to 3.4% for one year, retroactive […]