The new U.S. consumer finance watchdog is gearing up to monitor how millions of Americans use credit cards, take out mortgages and overdraw their checking accounts. Their bankers aren’t happy about it.
Allen Parker tried an experiment. He scrapped his routine of driving his powder-blue rig across the Great Plains for 11 hours a day. Instead, he drove it for 10. That one-hour difference wreaked havoc.
U.S. auto dealers such as Autonation Inc. and Group 1 Automotive Inc. want Congress to end a federal mandate to distribute a rarely requested booklet on car insurance costs, calling it an example of regulatory overreach.
Toyota Motor Corp. ’s investigation of accidents involving unintended acceleration where motorists said they pressed on the brake pedal shows that “virtually all” involved drivers who pushed the accelerator instead, a company spokesman said.
U.S. regulators were justified in closing a probe into unintended acceleration of Toyota Motor Corp. vehicles without finding electronic causes, a National Academy of Sciences panel said while emphasizing it wasn’t ruling out such failures in the future.
Toyota Motor Corp . will recall 1.13 million Corolla and Matrix cars for a flaw U.S. regulators said may cause stalling “at any speed without warning,” a setback as the company seeks to regain its reputation for quality.