We have discussed the Obama Administration's new overtime rule. It will significantly raise the pay threshold that triggers exceptions to the general rule that entitles workers to time-and-a-half for every hour they work over 40 per week. We also posted about holes in the overtime rules that exempt various workers entirely. Now, this article by Natalie Kitroeff says that the new […]
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The Consumer Financial Protection Bureau has taken action against a former Wells Fargo employee for an illegal mortgage fee-shifting scheme. The CFPB found that David Eghbali referred a substantial number of loan closings to a single escrow company, which shifted its fees from some customers to others at Eghbali’s request. Eghbali could then manipulate loan […]
This week, the Federal Trade Commission and the State of Florida fled cases against two operations charged with running phony student loan debt relief schemes, and the FTC settled a case brought earlier this year against a operators of a debt-relief scheme. In the first case, the FTC and the State of Florida allege in […]
The Food and Drug Administration today finalized a new food safety rule under the landmark, bipartisan FDA Food Safety Modernization Act. The rule requires companies in the United States and abroad to take steps to prevent intentional adulteration of the food supply. Although the FDA says that intentional adulteration is unlikely, the new rule advances […]
ThinkProgress reports: Bank of America does not have to pay a $1.3 billion penalty assessed years ago, an appeals court ruled Monday. A jury found the megabank guilty of fraud in 2013, after Department of Justice (DOJ) officials decided not to settle a case involving a program run by its subsidiary Countrywide. Countrywide employees created […]
by Jeff Sovern From a BBC News report: The average Norwegian has 33 apps, the Norwegian Consumer Council says, whose terms and conditions together run longer than the New Testament. To prove the "absurd" length, the council got Norwegians to read each of them out in real time on their website. The reading finished on […]
A few weeks ago, we posted an item headed Announcement for Students and Others:Antitrust and Consumer Protection State Legislation Monitoring Initiative. The deadline for submissions has been moved to June 10. For convenience, I've reposted the announcement below the fold.
The U.S. Court of Appeals for the Eleventh Circuit yesterday affirmed its 2014 holding that a debt collector violates the Fair Debt Collection Practices Act when it files a proof of claim in a bankruptcy case on a debt that it knows to be time-barred. In this case, the debt collector argued that the earlier […]
The Washington Post reports today that DeVry University and the University of Phoenix will stop using pre-dispute mandatory arbitration clauses that bar students from filing class-action lawsuits or otherwise taking their grievances to the courts. The story is here. In a related story, the Post recently explained that "It's almost impossible for students to sue […]
We discussed here the Department of Labor's new rule that will significantly expand the number of U.S. workers eligible for overtime pay. But, still, a much smaller percentage of U.S. workers are eligible for overtime today than were eligible in the past, and federal law categorically exempts many jobs from entitlement to overtime pay. (Some state laws […]