The Massachusetts attorney general is looking into whether Gilead Sciences violated state consumer protection laws in its drug pricing. One of the drugs in question, Solvadi, costs $84,000 for a 12-week course of treatment. The median income for a United States household in 2014 was around $53,000. Also last week, the nonprofit AIDS Healthcare Foundation, filed a […]
The Consumer Financial Protection Bureau has released its latest monthly consumer complaint snapshot, highlighting consumer complaints about financial services such as debt settlement, check cashing, money orders, and credit repair. The report shows that consumer complaints about these types of financial services generally revolve around issues of fraud or problems with reliable customer service. It […]
The Federal Trade Commission press release explains: For the first time, identity theft victims can now go online and get a free, personalized identity theft recovery plan as a result of significant enhancements to the Federal Trade Commission’s IdentityTheft.gov website. The new one-stop website is integrated with the FTC’s consumer complaint system, allowing consumers who […]
As Iowans prepare to begin the process of selecting the parties' nominees for president, a Vox piece over the weekend theorizes that the attraction many voters feel to "outsider" candidates of both parties this cycle is based on a sense that the prevailing approach to economic issues in this country — which has brought us deregulation, […]
(Also take note of the engaging debate in the Comments.) by Jeff Sovern Every other week, the Sunday Times Business Section runs a column called The Haggler, written by David Segal (who may be better known to law professors as the author of several critical articles on law schools). This week's version is headed A […]
John Y. Campbell of Harvard's Department of Economics has written Restoring Rational Choice: The Challenge of Consumer Financial Regulation. Here is the abstract: This lecture considers the case for consumer financial regulation in an environment where many households lack the knowledge to manage their financial affairs effectively. The lecture argues that financial ignorance is pervasive […]
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Consumer Reports released this week a survey of consumers understanding of "natural" on food labels. The report found that almost two-thirds of consumers are misled by foods labeled as “natural.” Of 1,005 adults polled in December, more than half incorrectly believed that natural claims on labels had been independently verified, and nearly two-thirds thought the […]
by Paul Alan Levy Dr. Rosalind Griffin, a Michigan psychiatrist who apparently derives a significant part of her income by testifying as a medical expert for parties defending against tort claims, but also serves as a member of the Michigan Attorney Discipline Board — the adjudicatory arm of the Attorney Grievance Commission — has initiated […]
The Feb. 8 issue of Forbes alerts readers to a strange and troubling new phenomenon: litigation investing. Companies like Mighty provide "investors" (more accurately: gamblers? loan sharks?) the opportunity to make loans to plaintiffs to help them while their lawsuit is pending, with repayment contingent on success. Some problems: First, interest rates are predatory — […]