Recap: PHL Centurion Menu, Free Shipping At Target, Congress Overturns CFPB Arbitration Rule & More

 

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Daniel
Daniel (@guest_501460)
October 26, 2017 10:01

*a $25 purchase for their free shipping with

(sorry!)

Daniel
Daniel (@guest_501457)
October 26, 2017 10:01

Target moved a lot of their cheaper items to require a $25 for free purchase with their Red Card. I wonder if these less expensive items will require a minimum purchase for the free shipping.

Andrey
Andrey (@guest_501389)
October 26, 2017 08:20

The wsj article is behind a paywall

IOException
IOException (@guest_501397)
October 26, 2017 08:48

Wouldn’t want to give Murdoch my money anyways. 😉

Max
Max (@guest_501420)
October 26, 2017 09:02

WASHINGTON—Congress overturned a rule by an Obama-appointed financial regulator that would have made it easier for consumers to sue banks in groups, with Vice President Mike Pence casting a tiebreaking vote in the Senate. The 51-50 vote handed the financial industry its most significant legislative victory since President Donald Trump took office and was a rebuke of Consumer Financial Protection Bureau Director Richard Cordray, who pressed ahead with his agenda in defiance of Republicans. The move is one of the final steps in killing a CFPB rule barring fine-print requirements for arbitration in contracts between consumers and banks. The House voted 231-190 in July to overturn the rule. The resolution now goes to Mr. Trump, who is expected to sign it into law. The White House released a statement late Tuesday praising the Senate action and referring to a recent Treasury Department report that criticized the rule. The vice president has broken Senate ties five times so far in the Trump administration. Republican senators Lindsey Graham of South Carolina and John Kennedy of Louisiana sided with Democrats in opposition to the measure. The CFPB’s rule prevents companies from including in consumer contracts arbitration clause that blocks class-action lawsuits, though it doesn’t ban arbitration entirely. Such clauses are commonly used for a range of financial products, including credit cards, certain auto loans, payday loans and private student loans. It was set to go into effect next year. Critics in the financial industry and Congress say arbitration provides a faster and more cost-effective way to resolve disputes with consumers than the courts. They say the CFPB’s rule would have forced the resolution of disagreements into class-action litigation. Vice President Mike Pence has broken Senate ties five times so far in the Trump administration. “This is a rule to benefit the plaintiffs bar,” Sen. Mike Crapo (R., Idaho), the powerful chairman of the Senate Banking Committee, said on the floor ahead of the vote. The CFPB said group lawsuits get more money back to consumers, while deterring harmful practices by financial companies. Supporters of the CFPB rule have pointed to the use of arbitration clauses by Wells Fargo & Co. and Equifax Inc., two scandal-ridden companies, as examples of how such clauses could prevent consumers from holding companies accountable. “Tonight’s vote is a giant setback for every consumer in this country. Wall Street won and ordinary people lost,” Mr. Cordray said in a statement. “This vote means the courtroom doors will remain closed for groups of people seeking justice and relief when they are wronged by a company.” He urged Mr. Trump to veto the resolution. Congress’s overturning of the arbitration rule foreshadows significant changes that the CFPB is expected to face over the coming months as the Trump administration appoints a new leader to the bureau, which has been mired in partisan controversy since it was created after the financial crisis. Mr. Cordray’s term runs through next July, but many think he might step down sooner to run for governor in Ohio.… Read more »

Andrey
Andrey (@guest_501596)
October 26, 2017 13:00

Thank you!

yana
yana (@guest_501964)
October 27, 2017 01:24

thanks!