The Consumer Financial Protection Board on Tuesday released its latest monthly consumer complaints snapshot, which highlights mortgage complaints. According to the report, consumers continue to face problems with mortgage servicing, particularly during certain circumstances, such as when they apply for a loan modification to avoid foreclosure. The CFPB report finds the consumers continue to experience […]
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A discouraging article from the New York Times: Long before Volkswagen admitted to cheating on emissions tests for millions of cars worldwide, the automobile industry, Volkswagen included, had a well-known record of sidestepping regulation and even duping regulators. For decades, car companies found ways to rig mileage and emissions testing data. In Europe, some automakers […]
The New York Times reports on a study that found a correlation between generous company stock options for executives and the incidence of serious product recalls of the companies products. The study, “Throwing Caution to the Wind: The Effect of C.E.O. Stock Option Pay on the Incidence of Product Safety Problems,” concluded that “C.E.O. option […]
Several news outlets reported this week on the huge price jump in the cost of a generic drug: Turing Pharmaceuticals increased the cost of the drug Daraprim more than 4n000 percent, from $13.50 a tablet to $750, overnight. See stories here and here. The prices of numerous generic drugs have risen sharply over the past […]
The Post reports: In ads, Volkswagen touted its popular Jetta and Beetle diesels as paragons of clean-fuel technology: Buyers were promised a car that was “clean, fuel efficient, and powerful,” according to one 2013 testimonial. In reality, the claims were based in part on a clever ruse, U.S. officials alleged on Friday. For at least […]
by guest blogger Rachel Clattenburg of Public Citizen Litigation Group Last week, NPR’s Morning Edition described Chapter 11 bankruptcy as one of our economy's “secret weapons.” The story focused on an appliance business in Charlotte, N.C., which was saved after filing for Chapter 11 bankruptcy. The story credits Chapter 11—the Chapter generally used by businesses […]
Both enforcement and public education are on the agenda for the Commonwealth's Attorney General Mark Herring. Listen to the NPR story here.
Recently, we told you about Coca-Cola's funding of scientists seeking to shift the blame for obesity away from bad diets (including regularly gulping down sugary drinks like Coke). If you were interested in that story, you'll be interested in this story. At this website, Coke urges consumers to "Share a Coke" with someone by allowing […]
A Washington Post online story today discusses the Federal Trade Commission's opposition to proposed amendments to the Electronic Communications Privacy Act: By now, Americans are all too familiar with the ways hackers can gain unauthorized entry into their personal accounts online. But did you know that the government can currently seize many of your e-mails without even […]
You would probably assume that Ben Carson and his presidential campaign would be thrilled that so many people across America are creating T-shirts, mugs and other items touting his candidacy for the presidency, saying “Ben Carson for President 2016" or using more creative slogans, plastering his face on such items. And you would think that […]