FairWarning has an article today about the Consumer Product Safety Commission: For decades, the federal agency largely was seen as a doormat with few resources and a toothless enforcement record. But over the past few years, under its chairman, Elliot Kaye, the CPSC has dramatically increased the penalties imposed on wayward companies, including multi-million dollar […]
The New York Times reports: Big banks are fighting tens of billions of dollars of potential legal costs linked to at least a dozen pending lawsuits arising from the financial crisis. Now they want the Supreme Court to weigh in, arguing that regulators took too long to file their claims. A handful of banks, including […]
BuckleySandler's Warren W. Traiger has some thoughts in the American Banker here (free content).
The Washington Post reports: Education Secretary John B. King Jr. on Monday rejected an appeal from the Accrediting Council for Independent Colleges and Schools, one of the largest national accreditation agencies, to remain the gatekeeper between colleges and billions of dollars in federal financial aid. King is siding with his staff and an independent advisory board that […]
The Food and Drug Administration has announced that it "is now making it easier and faster for health care professionals and patients to get the most up-to-date drug safety information on the more than 18,000 drugs available on our website. Our improved Drug Safety Labeling Changes Program enables FDA to post the latest safety information […]
The Federal Trade Commission has issued the National Do Not Call Registry Data Book for Fiscal Year 2016. Consumers can use the National Do Not Call Registry to choose not to receive telemarketing calls. Now in its eighth year of publication, the Data Book contains a wealth of information about the Registry for FY 2016 […]
The Consumer Financial Protection Bureau has entered into consent orders with three reverse mortgage companies for deceptive advertisements, including claiming that consumers could not lose their homes. The CFPB is ordering American Advisors Group, Reverse Mortgage Solutions, and Aegean Financial to cease deceptive advertising practices, implement systems to ensure they are complying with all laws, […]
Here (free content). The entire article is worth a read, but here are some highlights: J.W. Verret, an associate law professor at George Mason University School of Law, listed some reasons why he thinks Cordray could be removed for cause: allegations of employee discrimination and retaliation at the CFPB, and a settlement with auto lender Ally Financial that some […]
Here. Excerpt: * * * Title X of the Dodd-Frank Act * * * gives the agency explicit authority to pursue its own litigation up to and including the Circuit Court level. But when it comes to the Supreme Court, the law says the CFPB must first file a written request to the U.S. Attorney General […]
The law firm Edelson PC has filed a RICO suit against a bunch of lawyers and law firms that regularly represent objectors to class-action settlements. The complaint, filed in federal district court in Chicago, is worth a look. Basically, it alleges that the defendant lawyers and law firms are using frivolous objections (and frivolous appeals from trial-court approvals […]