For-profit colleges, bruised by years of investigations and rule-making, may face additional financial pressure from a new wave of state probes by attorneys general and the U.S. Consumer Financial Protection Bureau.
Humana Inc. was sued by a Missouri man who claimed the insurer raised premiums for him and other customers and then failed to respond to requests to cancel policies, allegedly to increase revenue under the Affordable Care Act in what may be the first such lawsuit.
Herbalife Ltd. won a Belgian appeals court ruling rejecting claims the company is a pyramid scheme, and concluding that income its distributors earn from others recruited to buy or sell its products isn’t a violation of European consumer protection laws.
Hedge fund manager Bill Ackman, who’s already lost as much as $500 million betting against Herbalife Ltd., is sticking to his case that the company is an illegal pyramid scheme after it said a re-audit found no material changes.
The U.S. Treasury Department criticized one of its independent agencies, the Office of the Comptroller of the Currency, for a proposed rule preempting some state banking regulations on consumer protection under the Dodd- Frank act.
A Texas patent-licensing company that demands royalties from businesses for simply scanning a document was sued by Vermont in what the state said is the first such consumer-protection lawsuit in the U.S.
American Express Co., the biggest credit-card issuer by purchases, will pay $112.5 million to settle claims it violated consumer safeguards from marketing to collection in products sold to about 250,000 customers.