FTC Recommends Congress Regulate Data Broker Industry

By: Friday May 30, 2014 5:54 am

The Federal Trade Commission made a formal recommendation to Congress that the data broker industry face tougher regulations to stop current practices that abuse and violate Americans’ privacy. The FTC claimed data brokers “operate with a fundamental lack of transparency” and that Congress should enact legislation that makes the data broker industry’s practices more open [...]

Comcast To Takeover Time Warner In Quest For Monopoly As Regulators Remain Silent

By: Friday February 14, 2014 5:39 am

It was only a matter of time before one of the giant telecommunications companies went for a monopoly, we are living under corporate capitalism after all. But Comcast’s behavior has been so blatant one has to wonder how no one in the government charged with preventing monopolies has not even raised tacit objections. For now [...]

Credit Reporting Agency Cited for Facilitating Loan Modification Fraud Deals

By: Thursday October 11, 2012 7:45 am

The Federal Trade Commission caught Equifax, one of the three major credit reporting companies, selling their lists of homeowners who made late mortgage payments to a third-party direct marketing specialist. This violates the Fair Credit Reporting Act, and is also about the sleaziest thing you can do – profiting off the financial difficulties of others. [...]

Weak Settlements Over Mortgage Abuses Should Give State AGs Pause

By: Thursday July 21, 2011 7:35 am

Two settlements came down yesterday on mortgage-related issues that detail the expected inadequacy of a global settlement among state Attorneys General. First, Countrywide, now part of Bank of America, has finally figured out how to divy up $108 million among borrowers they screwed over. More than 450,000 borrowers who were charged excessive fees by Countrywide [...]

FTC Opens Investigation Into Oil Market Speculation

By: Tuesday June 21, 2011 7:30 am

The Federal Trade Commission has opened a long-overdue investigation into whether speculators are manipulating the price of oil. The FTC is using powers granted to them by the Dodd-Frank law, which criminalizes manipulation of the oil markets. They have the ability to subpoena market players to determine whether they are in violation, and initiate fines [...]

Saudis Told Bush Administration About Oil Speculation as Far Back as 2007

By: Thursday May 26, 2011 9:15 am

The CFTC’s move against oil speculators who criminally profited from driving up prices in 2008 has put into sharp relief the current state of the oil markets, and the role of speculation. But according to some Wikileaked documents, Saudi Arabia told the US as far back as 2007 that speculation was artificially spiking prices, which [...]

Sherrod Brown: Biologics Should Not Be Subject To An “Endless Monopoly Period”

By: Monday November 2, 2009 2:56 pm

Sen. Sherrod Brown of Ohio has been the leading voice in the Senate on the issue of biologics, the expensive drug treatments made from living organisms, and his advocacy for affordable, generic versions of the potentially life-saving drugs will continue once the Senate health care bill hits the floor. The Senate HELP Committee version of [...]

Grijalva Pushes Senate, Obama In Letter To Pelosi

By: Friday October 30, 2009 2:29 pm

While Rep. Raul Grijalva ostensibly wrote this letter to Nancy Pelosi, in reality he wrote it to Harry Reid and Barack Obama. In it, he asked for three changes to the “manager’s amendment” (a potential substitute to the current House bill with various changes) and an opportunity to bring an up or down vote on [...]

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