Senator Patrick Leahy (VT) and Senator Al Franken (MN) introduced a bill Thursday that would strictly limit the companies' ability to impose arbitration clauses on consumers and workers. The Restoring Statutory Rights Act would prevent civil rights cases, employment disputes and other crucial lawsuits from being forced into arbitration. A New York Times article on […]
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The Washington Post reports today that the food industry is pressuring Congress to block vermont' GMO-labeling law before it goes into effect in July. "The food industry wants Congress to pre-empt Vermont’s law and bar mandatory labeling of genetically modified foods before it goes into effect. They argue that GMOs, or genetically modified organisms, are […]
The Washington Post reports on two new airbag recalls: Automakers to recall 5M vehicles for another air bag problem Another problem has developed with automotive air bags, this one resulting in recalls of up to 5 million vehicles worldwide. Continental Automotive Systems says in documents filed with the U.S. government that moisture can get inside […]
… in The Hill, responding to former head of OIRA Cass Sunstein: Delays in new public protections have real consequences. Oil trains around the country continue to explode while new safety measures languish in development. Tainted food outbreaks continue to sicken and kill Americans while rules stemming from the new food safety law have missed […]
We've chronicled the saga of Takata's life-threatening airbags and the resulting government recall. In the latest chapter, Senators Blumenthal and Markey (of Connecticut and Massachusetts, respectively) have written the Obama Administration calling for the recall to be broadened after a horrific death in December: The [Senators'] letter follows the death of Joel Knight, who was […]
Factcheck.org has put together a video to separate truth from fiction in the climate-change debate. To view it, click here or on the embedded video below. Go here to read the organization's full review. You will hear that some of the "facts" denying climate change from politicians, such as Rep. Lamar Smith and Sen. Ted Cruz, are misleading at […]
How carefully should public institutions monitor their investment portfolios? Is a payday lender as bad a cigarette company? These are some of the questions raised by this L.A. Times op-ed about the fact that the University of California's investment portfolio includes the large payday lender ACE Cash Express. U.C. has engaged in socially conscious investing and accordingly has […]
The Consumer Financial Protection Bureau announced today: [CFPB] is taking steps to improve checking account access amidst Bureau concerns that consumers are being sidelined by the lack of account options and by inaccurate information used to screen potential customers. Today the CFPB sent a letter to the 25 largest retail banks encouraging them to make […]
According to the Federal Deposit Insurance Corporation, Morgan Stanley has agreed to pay $62.95 million to resolve claims over the sale of toxic mortgage-backed securities to three banks that later failed. The FDIC is acting as the receiver for the failed banks. The settlement brings the total amount of FDIC settlements with Morgan Stanley over […]
Today, at 2pm the Economic Matters Committee of the Maryland House of Delegates will hold a hearing to consider H.B. 131, which would ban non-disparagement clauses in consumer contracts. Like the parallel California law enacted in 2014, H.B. 131 has a laudably strong enforcement provision: both private individuals and state authorities are able to take action, via […]