The Consumer Financial Protection Bureau (CFPB) is a government agency tasked with protecting consumers in matters related to misconduct by businesses in the financial sector. This generally means unlawful acts involving mortgage loans, credit cards, retirement and insurance policies, and student loans. Among the powers of the CFPB is to issue broad administrative subpoenas during its investigations.
During President Obama's administration, numerous for-profit colleges, like ITT and Corinthian College went out of business due to increased Federal regulations and fewer students enrolling. This trend was put on hold with the election of President Trump, who has virtually eliminated President Obama's regulations. As a result, massive for-profit colleges like DeVry are now seeing their stock prices skyrocket.
You spend several hours a day in the hot sun working on a farm. Your manager or crew leader comes through, reminds you of quotas and tells you to pick up the pace. Hopefully, your crew leader also ensures that you take adequate breaks out of the sun, have clean, cool water to drink and are paid what you earned.
A dispute over a two-year statute of limitations brought the city of Los Angeles before the Ninth Circuit Court of Appeals this week. The city has accused Bank of America, Wells Fargo, Citigroup and Chase Bank of making discriminatory loans against Latino and African-American borrowers in the city. The loans those borrowers were offered were more expensive than loans offered to similarly-situated white people, and those more expensive loans, in turn, ended up in more foreclosures.
There are a lot of times that a Do It Yourself (DIY) approach is a good idea. After all, you can search YouTube and the rest of the Internet for a step-by-step guide to just about anything. Learning to do your own oil change for your car? Patching a hole in the drywall? Building a chicken coop? The Internet has you covered. In the process, you can take pride in your work and also save money. The same cannot be said of taking a DIY approach to a lawsuit.
During the end of President Obama's administration, the financial outlook was bleak for the for-profit college sector. This is because of increased regulation by the Department of Education, which was attempting to curb false advertising and predatory lending by for-profit colleges and student loan companies. In fact, massive companies like ITT and Corinthian College went out of business, while University of Phoenix went private due to the increased regulatory climate and dwindling enrollment numbers.
The Securities and Exchange Commission claims that Barclays PLC overbilled clients of its asset management business for tens of millions of dollars and committed other wrongdoing. It had charged the bank civilly, and Barclays agreed this week to settle the matter without admitting or denying wrongdoing.
Having a retirement plan can help you address the expenses that will come along in life after you no longer go to work to generate income. Because these funds will play a crucial role in your ability to provide for yourself after retirement, you undoubtedly hope that your employer or other entity handling your plan manages the account with your best interests in mind. Unfortunately, some individuals may think that they can defraud you by misusing your account.
Laureate Education played hardball when trying to sell off the historic College of Santa Fe, to the point of forcing the college to shut down in the midst of an academic year, students claim in a lawsuit. They also claim Laureate should have acted more honorably, considering it is a public benefit corporation. They're suing the private college operator for breach of contract bad faith, fraud, negligent misrepresentation, unfair trade, and unjust enrichment.
Earlier this year, a former employee of a Nike store in San Clemente, California, filed a legal complaint against the company, alleging a number of labor law violations. In the weeks since, the scope of the case has quickly expanded; Nike now faces a class action suit that could include all current and former nonexempt employees who worked in California-based Nike retail stores in the last four years.
The sad reality is often that the workers who receive the least pay often do highly important work. It's also sad but true that workers at the bottom of the economic ladder are the most likely to be exploited and have the least opportunity to complain.