Current Industry News
CFPB to spell out ‘abusive’ practices by financial-service companies
WASHINGTON — A federal regulator plans to explain what it considers to be “abusive” practices by companies selling financial services, a move aimed at giving a clearer idea of what behavior would get companies into trouble under relatively new government enforcement powers. Mick Mulvaney, the Consumer Financial Protection Bureau’s acting director, said Monday the bureau is working on a regulation defining how it views unfair, deceptive or abusive acts or practices, known as Udaap. Most of the CFPB’s enforcement actions involve such claims and the 2010 Dodd-Frank financial law, which created the CFPB and gave it broad enforcement powers.
FTC tackles antitrust in labor markets
It’s Day 2 in the latest set of Federal Trade Commission hearings on consumer protections and antitrust, with government officials, scholars and industry insiders today set to discuss possible anticompetitive behavior in labor markets. On deck to testify are Renata Hesse, a former Justice Department antitrust chief, and Tim Wu, the Columbia University Law school professor who coined the term “net neutrality,” among others. The session comes on the heels of a spirited round of panels on Monday in which several well-known industry figures called for antitrust officials to step up their enforcement efforts in the event of regulatory failure.
Antitrust on tap for FTC
ANTITRUST ON TAP FOR FTC —The Federal Trade Commission this week kicks off its third set of competition hearings, focusing today on the potential for problematic behavior on multi-sided platforms — companies that bring buyers and sellers together, like Amazon or Airbnb. Democratic FTC Commissioner Rohit Chopra will give opening remarks at George Mason University in Arlington before panelists discuss the characteristics of the companies and how the agency should evaluate conduct like predatory pricing and actions to undermine rivals who depend on their infrastructure.
VERIFACTS BRINGS BACK OLD FAVORITE TO MAXIMIZE LOCATION SPEED.
Revitalized program combines continuous monitoring of data with years of skip tracing expertise to get clients first to the finish line. VeriFacts Inc. (VFI) has announced the debut of Stride, a systematic verification program designed to consolidate efforts, keeping costs down while providing new information as it becomes available. This program has streamlined the locate process, focusing efforts and labor to maximize return without breaking the bank.