The Consumer Financial Protection Bureau yesterday released a report highlighting various market developments that have the potential to produce benefits for consumers. These developments are emerging from FinTech startups and traditional financial institutions, and include new products, services, and trends. The report also provides an overview of Project Catalyst’s work to promote consumer-friendly innovation and […]
If you want information on the difficult cyber security problems raised by the massive October 21 cyber attack, you may want to read this interview with cyber security expert Herb Lin. Note the particular security problems posed by the Internet of Things.
Here. Doroshow is at New York Law School's Center for Justice and Democracy. Excerpt: The FTC, whose tag line is “Protecting America’s Consumers,” has decided to side with the corporate lawyers and executives at General Motors and two used car chains, agreeing to a legal settlement regarding the sale of cars under safety recall. Specifically, […]
This article by Hugo Martin explains that "[a]irlines could dramatically reduce the number of bags that are mishandled if they add tiny radio frequency devices to their luggage tags."
To quote law prof Orly Lobel, "gig workers" are "people who provide contracted, freelance work on a short-term basis via digital platform technologies." Uber drivers are well-known examples. Lobel goes on: "Gig workers are drivers, delivery-people, personal assistants, handymen, cleaners, cooks, dog-sitters, and babysitters, but increasingly are also more specialized professionals, including nurses, doctors, teachers, […]
There's been a lot of interest in the constitutional ruling in PHH Corporation v. CFPB (D.C. Cir.) — that it's not constitutionally okay for an independent agency to be directed by just one person who may only be removed for cause. But I haven't seen much about the merits of the parties' dispute under the anti-kickback provisions of […]
Simon Hedlin has written Calorie Overestimation Bias and Fast Food Products: The Effects of Calorie Labels on Perceived Healthiness and Intent to Purchase. Here's the abstract: In 2014, the United States Food and Drug Administration announced that chain restaurants with 20 or more locations would be required to put calorie labels on the menu. The […]
The Washington Post reports today: Banking regulators outlined a new set of rules Wednesday aimed at tightening cybersecurity requirements to protect financial markets and customers from online attacks. A proposal from the Federal Reserve Board, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation suggests minimum standards and requirements for […]
The Wall Street Journal reports today: More households that don’t have bank accounts are using prepaid cards for basic financial services, such as making purchases, receiving deposits and saving for the future, a government survey found. Among U.S. households that have no access to the regular banking system, 27% reported using prepaid cards in the […]
by Jeff Sovern Some reactions from Politico's Morning Money: TOP EMAIL from Richard Hunt, President & CEO of the Consumer Bankers Association: “Four debates and no Wall Street or bank bashing. Didn't see that coming.” * * * Cowen’s Jaret Seiberg: “Sec. Hillary Clinton and Donald Trump have now faced off in three presidential debates […]