The Consumer Financial Protection Bureau has released its monthly complaint snapshot, this one highlighting consumer complaints about prepaid products. The report shows that consumers continue to experience issues trying to manage their accounts and access funds. The report also highlights trends seen in complaints coming from North Carolina. Regarding prepaid cards, common complaints included unauthorized […]
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This article by Laura Northrup is about self-driving delivery trucks. Yes, apparently, at least one of them has hit the rough and rowdy road. Here's an excerpt that may pique your interest: AB InBev and Uber teamed up last week for a ceremonial delivery: the first recorded commercial shipment delivered by self-driving truck. It was a […]
The Washington Post reports today: Owners of more than 300,000 Hondas have yet to get their air bags repaired, despite warnings from the automaker and regulators that the inflators have an extremely high chance of rupturing and causing injury or even death. Last week authorities said one of those air bags, equipped with an inflator […]
The Consumer Financial Protection Bureau yesterday released a report highlighting various market developments that have the potential to produce benefits for consumers. These developments are emerging from FinTech startups and traditional financial institutions, and include new products, services, and trends. The report also provides an overview of Project Catalyst’s work to promote consumer-friendly innovation and […]
If you want information on the difficult cyber security problems raised by the massive October 21 cyber attack, you may want to read this interview with cyber security expert Herb Lin. Note the particular security problems posed by the Internet of Things.
This article by Hugo Martin explains that "[a]irlines could dramatically reduce the number of bags that are mishandled if they add tiny radio frequency devices to their luggage tags."
To quote law prof Orly Lobel, "gig workers" are "people who provide contracted, freelance work on a short-term basis via digital platform technologies." Uber drivers are well-known examples. Lobel goes on: "Gig workers are drivers, delivery-people, personal assistants, handymen, cleaners, cooks, dog-sitters, and babysitters, but increasingly are also more specialized professionals, including nurses, doctors, teachers, […]
There's been a lot of interest in the constitutional ruling in PHH Corporation v. CFPB (D.C. Cir.) — that it's not constitutionally okay for an independent agency to be directed by just one person who may only be removed for cause. But I haven't seen much about the merits of the parties' dispute under the anti-kickback provisions of […]
The Washington Post reports today: Banking regulators outlined a new set of rules Wednesday aimed at tightening cybersecurity requirements to protect financial markets and customers from online attacks. A proposal from the Federal Reserve Board, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation suggests minimum standards and requirements for […]
The Wall Street Journal reports today: More households that don’t have bank accounts are using prepaid cards for basic financial services, such as making purchases, receiving deposits and saving for the future, a government survey found. Among U.S. households that have no access to the regular banking system, 27% reported using prepaid cards in the […]