As explained here, "[a] New York state [trial] judge on Monday [March 11, 2013] threw out a ban on large sugary drinks set to go into effect in New York City on Tuesday, calling the new regulation 'arbitrary and capricious.'” The decision is here. We have posted about the ban many times, including here, here, here, […]
Phil Izzo explains here that "[a]ccording to the [Labor Department's] household survey, which is where the unemployment rate comes from, there are nearly 950,000 fewer people employed by the government than there were when the recovery started in mid-2009. If none of those people were counted as unemployed, the jobless rate would be 7.1%, compared […]
In time for Sunshine Week, the Center for Effective Government has issued this report on how the Obama Adminsitration is doing in meeting its pledge to be "the most transparent administration in history." According to the Center, there's good and bad. Here's a synopsis: The Obama administration has dedicated more effort to strengthening government transparency […]
by Brian Wolfman Federal prescription drug oversight was significantly deregulated by the Food and Drug Modernization Act of 1997 (FDAMA), which was signed by President Clinton on November 21, 1997. Among other things, section 127 of FDAMA eliminated FDA authority over drug compounding companies, leaving regulatory oversight to state law. In theory, compounding involves only the […]
In the new tax law that went into effect on January 1, capital income tax rates on certain high-income taxpayers went from 15% to 20%. When you add in the new 3.8% Medicare surtax on net investment income, which includes capital gains, you get an overall 23.8% capital income tax rate for high-income taxpayers. (High-income […]
by Jeff Sovern Earlier in the week I linked to a Times editorial, Bleeding the Borrowers Dry, about the practice of online payday lenders of lending to consumers in states that bar the kinds of high-interest rate loans payday lenders provide. Here is a link to my letter in the Times about the prospects of […]
The Times report is here. An excerpt: The messages, which typically promise gift cards to national chain stores or other prizes, are sent to random phone numbers and usually direct recipients to a Web site where they are asked for personal information like Social Security numbers or credit card numbers, agency officials said. Rarely, if […]
by Jeff Sovern Here. An excerpt: As with the mortgage cases, the investigation focuses on the banks' poor paperwork and their weak tracking of the debts. When they sold delinquent credit card debt to the buyers, often at only a few cents on the dollar, they allegedly failed to provide them with the evidence that […]
Arpan Sura and Robert A. DeRise, both of Arnold & Porter, have written Conceptualizing Concepcion: The Continuing Viability of Arbitration Regulations. Here's the abstract: Section 2 of the Federal Arbitration Act (“FAA”) provides that arbitration agreements “shall be valid, irrevocable, and enforceable, save upon such grounds as exist at law or in equity for the […]
According to its sponsors — dozens of consumer groups and government agencies — "National Consumer Protection Week (NCPW) is a coordinated campaign that encourages consumers nationwide to take full advantage of their consumer rights and make better-informed decisions. NCPW 2013 will take place March 3 through March 9, 2013." Go to this comprehensive website for […]