Consumer Protection Laws News
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Ford Motor Co., the No. 2 U.S. automaker, was sued by Pennsylvania car owners who said its hybrid models don’t deliver on fuel-efficiency claims.
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The outlook for Spain’s banks remains negative as recession threatens to push up loan defaults across all asset classes in the euro area’s fourth-largest economy, Moody’s Investors Service said.
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Fannie Mae and Freddie Mac, the two government-seized mortgage financiers, appear increasingly likely to pay billions of dollars to the U.S. Treasury, focusing attention in Washington on what should replace them.
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Advertising delivered through social media or on mobile phones needs to provide clear disclosures and abide by the same requirements that apply to newspaper and television messages, the U.S. Federal Trade Commission said.
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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.
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Coca-Cola Co., the world’s largest soft-drink maker, must face a consumer lawsuit challenging the labeling of its Simply Orange, Minute Maid Premium and Minute Maid Pure Squeezed orange juice brands, a judge said.
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A witness for Verizon Communications Inc. from JPMorgan Securities Inc. testified that yellow-page unit Idearc Inc. was a “very good ongoing company” when it was spun off from the parent in 2006.
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Visa Inc., the world’s biggest payments network, contravened Australia’s consumer protection laws by preventing buyers from using a currency of their choice when shopping, the country’s competition regulator said.
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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.
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The Federal Reserve and four other U.S. financial regulators said they agreed to coordinate supervision of federally insured banks with assets exceeding $10 billion under the Dodd-Frank Act in a move that will tighten supervision.
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