Tag Archives: congress
- Absolute Poker Payment Processor Pleads Guilty To Fraud
Brent Beckley, the director of payment processing for Absolute Poker, pled guilty this month in Manhattan federal court to conspiracy to engage in unlawful internet gambling and conspiracy to commit bank fraud and wire fraud, in connection with a scheme to deceive U.S. banks and financial institutions, using them to process tens of millions of [...]
- Bank Of America Backs Off $5 Debit Card Fees After Anti-Fee Petition Skyrockets
Just one month ago I wrote about the implementation of debit card fees coming into play for big banks such as Chase, Wells Fargo and most notably Bank of America. Due to the change in a new government regulation that caps what banks can charge merchants for debit transactions they announced plans to implement a [...]
- FTC Asks To Restrict Pay-For-Delay Deals To Lower Consumers’ Health Care Costs
The Federal Trade Commission (FTC) has released a report of data pertaining to the 2011 fiscal year which showed that pharmaceutical companies continued an anticompetitive trend of paying potential generic rivals to delay the introduction of low-cost prescription drug alternatives for American consumers. If you’re like me, generic pharmaceutical drugs save my life, not only [...]
- Congress Holds Hearing on Financial Literacy
The Honorable Dennis McKinney, Treasurer, State of Kansas U.S. House of Representatives Committee on Financial Services Subcommittee on Oversight and Investigations Representative Moore, Chairman August 24, 2010 Testimony by Kansas State Treasurer Dennis McKinney Good morning Chairman. As Kansas State Treasurer, I believe financial literacy is a national priority. As a result, my office provides [...]
- FTC Hopes to Eradicate Broken Debt Collection Litigation and Arbitration
A report released by the Federal Trade Commission Monday featured the FTC’s complaints about debt collection in our country today. The report featured the conclusion that “consumers are not adequately protected in either debt collection litigation or arbitration.” The FTC put forth recommendations to both the federal and state governments on how to make the [...]
- Debt Settlement Companies and Associations Hiring Washington Lobbyists to Persuade Congress
An article in The Hill talks about how the Debt Settlement industry is now hiring lobbyists to meet with members of Congress in order to make their case to continue to exist. Many states and the Federal Trade Commission have reloaded their regulatory shotguns and taken aim at rogue debt settlement companies in the past [...]
- Reader Tip of the Day: How to Conveniently Maximize Discover’s Bonus Cash Back
This tip comes from one of my readers. If you have a tip that you’d like me to pass along, feel free to email me at [email protected] If you want me to give you a tip of the cap (meaning you would like credit for the tip), feel free to include a name that I can use (whether it be a first name or posting ID). I’ll publish these tips as often as I get them, so keep those tips coming. Of course,