Reports the New York Times today: The Federal Communications Commission announced on Wednesday a $25 million fine against AT&T for failing to protect the personal information, including the Social Security numbers, of its customers. Employees at AT&T call centers were found to have stolen the names and Social Security numbers of about 300,000 of the […]
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The Federal Trade Commission announced three settlements yesterday: • The FTC announced a settlement with Network Solutions LLC over charges that the company misled consumers who bought its web hosting services by promising a full refund if they canceled within 30 days. In reality, the company withheld substantial cancellation fees from most refunds. The FTC's […]
Predictably, after the Supreme Court expanded the preemptive effect of the Federal Arbitration Act in its 2011 Concepcion decision, employers took advantage, reports the Wall St. Journal: "Arbitration clauses with class-action waivers r[o]se sharply after 2011 court ruling." Apologies for the subscriber-only link, but if you have access, it's worth a read, here.
The Consumer Financial Protection Bureau announced today that it is launching a nationwide effort to advance financial education in schools. The Bureau is publishing “Advancing K-12 Financial Education: A Guide for Policymakers,” a resource guide which contains strategies for furthering the development and implementation of financial education in states. The CFPB press release is here.
That’s the question posed by this Reuters story, which suggests that big banks will retaliate against the pro-regulatory proposals of Senators Elizabeth Warren and Sherrod Brown by withholding campaign contributions from Senate Democrats. Sen. Warren, for her part, does not plan to play along, she explained in a blog post (entitled "Wall Street isn't happy […]
Reports Law360 last week: "Facebook Unlawfully Tracking All Visitors, Report Says." The report in question was prepared by the Interdisciplinary Center for Law and ICT at the University of Leuven in Belgium, and it accuses the social networking behemoth of violating EU privacy law by tracking the activities of individuals who are not users of […]
The Washington Post concludes that industry claims that state laws requiring food labels to disclose a products contains genetically modified ingredients would cost families $500 more in groceries each year are wildly exaggerated. The article is here. As the article indicates, the costs claimed by industry are largely due to expected changes in consumer behavior. […]
"Given the many billions of dollars financial companies have paid in regulatory and legal settlements related to the mortgage crisis, how much money has actually found its way into the pockets of investors harmed by their actions? "Less than you may think." That's the start of a New York Times article entitled "Victims of Financial […]
From the New York Times this morning: An agreement announced Monday by the New York State attorney general and GNC, the nation’s largest specialty retailer of dietary supplements, should provide protection against fraudulent herbal products that don’t contain the ingredients listed on their labels or contain unlisted ingredients that are potentially dangerous. Under the deal, […]