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regulators could ultimately fine Meta up to 6 percent of its global revenue, which was $135 billion last year, as well force other product changes. The investigations are part of a growing effort by governments around the world to rein in services like Instagram and TikTok to protect minors. Meta has for years faced criticism that its products and recommendation algorithms are fine-tuned to hook children. In October, three dozen states in the United States sued Meta for using “psychologically manipulative product features” to lure children, in violation of consumer protection laws. People younger than 13 are not supposed to able to sign up for an account, but E.U.
Persons: Meta Organizations: Facebook, European Commission, United, Meta, Digital Services Locations: United States
Gold bracelets at a gold jewelry store in the Zhejiang Province of China. Thousands of people in China have been duped into forking out money on "fake gold" — inferior or artificial gold — after trying to purchase so-called "999 gold" online, according to the government. The purest form of gold is commonly referred to as 999 gold, because it has gold content of 99.9%. "Fake gold is becoming a major problem in China as more Chinese are looking to put their savings into gold," said China Market Research Group's Managing Director Shaun Rein. Fake gold gets darker or reveals a greenish color when placed under flame, while pure gold turns brighter on exposure to heat.
Persons: Shaun Rein, Nikos Kavalis, Rein, Taobao, Pinduoduo Organizations: Visual China, Getty, Research, India, World Gold, Metals, ChinaFotoPress Locations: Zhejiang Province, China, scammers, Nantong
Read previewRogelio Villarreal Jasso got extremely lucky when he found heavily discounted Cartier earrings online. On December 1, 2023, the Mexico native noticed an Instagram advertisement for gold-and-diamond Cartier earrings priced at 232 pesos, or about $13, he told Business Insider. AdvertisementThe Cartier earrings purchased by Rogelio Villarreal Jasso. After being contacted by the agency, Cartier seemingly took matters into its own hands and settled the issue by sending Jasso his order. "It is more important to be honorable than to have Cartier earrings," she wrote.
Persons: , Rogelio Villarreal Jasso, Cartier, Jasso, Champagne, Lilly Téllez Organizations: Service, Business, Federal, The New York Times, The Times, Times Locations: Mexico, Cartier's Mexico
J&J advances $6.475 billion settlement of talc cancer lawsuits
  + stars: | 2024-05-01 | by ( ) edition.cnn.com   time to read: +3 min
It will begin a three-month voting period in hopes of reaching consensus on a settlement of all current and future ovarian cancer claims. Ovarian cancer claims account for 99% of the talc-related lawsuits filed against J&J (JNJ), including about 54,000 lawsuits that are centralized in a New Jersey federal court proceeding. In March, J&J received a new chance to contest the scientific evidence linking talc to ovarian cancer in the centralized litigation in New Jersey federal court. But, the litigation has resulted in some large verdicts for plaintiffs, including a $2.12 billion award in favor of 22 women who blamed their ovarian cancer on asbestos in J&J talc. In the past month, J&J was recently ordered to pay $45 million in a mesothelioma case while winning an ovarian cancer case.
Persons: York Reuters — Johnson, Johnson, J, LTL Organizations: York Reuters, J, LTL, & $ Locations: York, New Jersey
What was supposed to be a yearlong $140,000 renovation ballooned into three excruciating years that cost us more than $500,000 — and the work is still not finished. But as my husband and I soon discovered, unless you've made a plan, legal protections for homeowners are close to nonexistent. Every time our contractor turned up the temperature, we grimly adjusted to the reality of our demise. Knowing the cardinal rule of home renovation — never pay in full until the job is over and inspected — we grew suspicious. Despite completing several home-improvement and renovation projects with her husband over the years, she lacked the confidence to DIY the renovation of her newly purchased 6,500-square-foot home.
Persons: Arcadis, you've, Christine Chitnis, wasn't, It's, We've, Amanda Jane Jones, Jones, David Jensen, Greenberg Traurig, He'd, Jensen, Lisa DiAntonio, DiAntonio, hadn't, what's, Condé Organizations: Homeowners, Harvard's, for Housing Studies, Department of Business, American Institute of Architects, Vogue, The New York Times Locations: Rhode Island, North America, Northern Michigan, Michigan, Utah, New Jersey, Andover , Massachusetts
The net neutrality regulations adopted Thursday by the Federal Communications Commission prohibit providers such as AT&T, Comcast and Verizon from selectively speeding up, slowing down or blocking users’ internet traffic. And for the first time, the FCC said it would step in to override state or local policies that conflict with the federal net neutrality rule. “The Title II authority will ensure that broadband providers are properly overseen by the FCC like all telecommunications services should be. “These 400-plus pages of relentless regulation are proof positive that old orthodoxies die hard,” said Jonathan Spalter, CEO of USTelecom, a trade association representing internet providers. As a result, the outcome of a legal challenge to the FCC’s net neutrality rules could have potentially broad ramifications for other US regulatory bodies, not just the FCC.
Persons: Trump, Jessica Rosenworcel, Rosenworcel, ” Rosenworcel, , Justin Brookman, Biden, Jonathan Spalter, Brendan Carr Organizations: Washington CNN, Federal Communications Commission, Comcast, Verizon, Democratic, FCC, , Consumer, Trump, Republican, Communications Locations: unwound, Washington, America
The Transportation Department on Wednesday announced new rules taking aim at two of the most difficult and annoying issues in air travel: obtaining refunds and encountering surprise fees late in the booking process. The department’s new rules, Mr. Buttigieg said, will hold airlines to clear and consistent standards when they cancel, delay or substantially change flights, and require automatic refunds to be issued within weeks. They will also require them to reveal all fees before a ticket is purchased. Airlines for America, a trade group representing the country’s largest air carriers, said in a statement that its airlines “abide by and frequently exceed” D.O.T. consumer protection regulations.
Persons: , Pete Buttigieg, Buttigieg Organizations: Transportation Department, Wednesday, Transportation, Airlines for America
Professor discusses potential U.S. TikTok ban
  + stars: | 2024-04-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumer protections better suited to address security risks than outright TikTok ban: Law professorRyan Calo, professor of law at the University of Washington and co-director of the Tech Policy Lab, discusses the legality and impact of a potential TikTok ban.
Persons: Ryan Calo Organizations: University of Washington, Tech
A major private student-loan company is leaving the servicing industry. But before that happens, a group of Democratic lawmakers want it to give some borrowers debt relief. On Wednesday, Sen. Elizabeth Warren led eight of her Democratic colleagues in sending a letter — first reviewed by Business Insider — to Navient's CEO David Yowan, requesting that the company cancel "decades-old predatory private student loans" using a consumer protection law established by the Federal Trade Commission. AdvertisementBut there might be an avenue to still get those borrowers debt cancellation. "Navient should stop making borrowers apply for relief and instead automatically cancel student debt using information the company already has about whether borrowers attended schools that would entitle them to relief," they wrote.
Persons: Sen, Elizabeth Warren, David Yowan, Navient, Warren, Holder Organizations: Service, Democratic, Business, Federal Trade Commission, Family Education, Education Department, Minnesota Attorney Locations: Minnesota, MOHELA, Navient
And while state attorneys general receive consumer complaints, airlines are not legally required to respond to their inquiries. The Biden administration has been aggressively pushing measures to expand consumer rights for airline passengers. The latest move comes as passenger traffic in the United States is projected to reach an all-time high this year. It includes 18 states such as California, New York, Nevada and Colorado that have some of the busiest U.S. airports. The DOT said seven more states - Delaware, Massachusetts, Minnesota, Oregon, Tennessee, Vermont, and Washington – are interested in joining the initiative.
Persons: Transportation Pete Buttigieg, Francis Scott Key, Pete Buttigieg, Biden, Buttigieg, Washington – Organizations: Transportation, White, . Transportation, U.S . Department of Transportation, Transportation Department, Southwest Airlines, Republican, Democratic Locations: Baltimore, Washington , U.S, United States, California , New York , Nevada, Colorado, Delaware , Massachusetts, Minnesota , Oregon , Tennessee , Vermont, Washington
Washington CNN —The Federal Trade Commission is looking into Reddit’s plans to license its platform content to artificial intelligence companies, the social media company disclosed Friday in a securities filing. The FTC sent Reddit a letter on Thursday outlining the scope of the inquiry, Reddit said in the filing. “The FTC’s staff is conducting a non-public inquiry focused on our sale, licensing, or sharing of user-generated content with third parties to train AI models,” Reddit disclosed. The company has entered into an agreement to share its platform data with Google in order to train the tech giant’s AI models. Reddit said earlier this week that it expects to price shares between $31 and $34 each when it makes its IPO offering.
Persons: Reddit, ” Reddit, Organizations: Washington CNN, Federal Trade Commission, FTC, Google
According to a federal complaint filed this week seeking class-action status, it was because his 2021 Cadillac XT6 had been spying on him. When Mr. Chicco requested his LexisNexis file, it contained details about 258 trips he had taken in his Cadillac over the past six months. The data had been provided by General Motors — the manufacturer of his Cadillac. In a complaint against General Motors and LexisNexis Risk Solutions filed in the U.S. District Court for the Southern District of Florida, Mr. Chicco accused the companies of violation of privacy and consumer protection laws. LexisNexis Risk Solutions, and another data broker called Verisk, claim to have real-world driving behavior from millions of cars.
Persons: Romeo Chicco, XT6, Chicco, General Motors Organizations: Liberty Mutual, LexisNexis, General, General Motors, Southern, Southern District of, The New York Times, Solutions Locations: U.S, Southern District, Southern District of Florida
Facial recognition frequently misidentifies people of colorMIT Media Lab researcher Joy Buolamwini found that facial recognition technology misidentified black women up to 35% of the time, the New York Times reported in 2018. When fewer photos of people from other racial and gender groups are used, facial recognition tech is less accurate at identifying people of those backgrounds, the study said. In some cases, it's possible to opt out of using facial recognition technology — and its high error rate. But sidestepping facial recognition often isn't possible, said Gideon Christian, a law professor at the University of Calgary who has written about the legal and societal aspects of facial recognition technology. AdvertisementThe FTC banned Rite Aid from using facial recognition technology in stores for five years as a result.
Persons: , Spark, Joy Buolamwini, shoplifters haven't, Gideon Christian, Samuel Levine, Christian Organizations: Service, TSA, Business, MIT Media, New York Times, MIT Technology Review, Walmart, CBP, University of Calgary, FTC, FTC's, Consumer Protection, Rite Aid Locations: India
The title acceptance pilot waives the need for a lender's title insurance policy on some refinance mortgages. The Federal Housing Finance Agency recently rolled out a new pilot program that would lower refinance closing costs for some borrowers. Called the "title acceptance pilot," this program would waive the requirement that conforming loans have a lender's title insurance policy on certain refinance mortgages. Borrowers are required to purchase a lender's title insurance policy, which can be a significant out-of-pocket cost. Pushback from the mortgage industryLeaders from the mortgage and title insurance industries overall weren't pleased with this announcement.
Persons: , Biden, Fannie Mae, Freddie Mac, homebuyers, Christopher Tyson, Tyson, doesn't Organizations: Service, Federal Housing Finance Agency, Mortgage Bankers Association, Union, Consumer Financial, National Community Stabilization Trust, homebuyers
A majority of Hispanics, and even a plurality of Black voters, said Biden’s policies would cause inflation to rise, the survey found. You can’t not make the contrast and comparison.”These negative retrospective assessments of the Biden and Trump economic records create huge headwinds for the president. “Voters—even past Biden voters who disapprove of his economic record—clearly reject what Trump and Republicans are offering,” Democratic pollster Margie Omero said in an email. After voters were exposed to Biden’s populist arguments, assessments of his economic record improved in the group’s polling, Clark said. But even after hearing that case, most voters in the group’s surveys still gave Biden negative marks for his economic performance, the study found.
Persons: Joe Biden, Donald Trump, Trump, Biden, Biden –, , , Danielle Deiseroth, West Virginia Sen, Joe Manchin, Shawn Fain, Evelyn Hockstein, Adam Green, Michael Tyler, Republican pollster Micah Roberts, It’s, Jim McLaughlin, ” McLaughlin, Roberts, ” Roberts, can’t, ” Tyler, Margie Omero, , Bobby Clark, Clark Organizations: CNN, GOP, Trump, Teamsters, Democratic, ACA, West, United Auto Workers, Biden, CNBC, Social Security, Republican, White, NBC News, New York Times, Siena College, CBS, Union, Locations: Wisconsin, Michigan, Belleville , Michigan, Scranton , Pennsylvania, Democratic, State, Biden’s
Mr. Biden offered a blitz of policies squarely targeting the middle class, including efforts to make housing more affordable for first-time home buyers. The president used his speech to try and differentiate his economic proposals with those supported by Republicans, including former President Donald J. Trump. Those proposals have largely centered on cutting taxes, rolling back the Biden administration’s investments in clean energy and gutting the Internal Revenue Service. Many of Mr. Biden’s policy proposals would require acts of Congress and hinge on Democrats winning control of the House and the Senate. From taxes and housing to inflation and consumer protection, Mr. Biden had his eye on pocketbook issues.
Persons: Biden, Donald J Organizations: Republicans, Trump, Biden, Internal Revenue Service
As the prevalence of online betting grows, there's plenty of revenue to be had. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue. Of course, as fun as sports gambling is — as is gambling in general — it has some serious downsides for society. According to the National Council on Problem Gambling, 2 million Americans have a severe gambling problem, and another 4 million to 6 million a mild or moderate problem. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue.
Persons: Lia Nower, DraftKings, Jason Robins, iGaming, Robins, DraftKings isn't, , West Virginia —, Chad Beynon, Benyon, they're, Nower, Chris Grove, Grove, There's, let's, I've, legalizes iGaming, Emily Stewart Organizations: Knicks, Sports, Disney, American Gaming Association, NBA, NFL, Center for Gambling Studies, Rutgers University, Golden Nugget, Caesars, MGM, Macquarie, Companies, Atlantic City, Acies Investments, EKG Ventures, Vegas, National Council, Business Locations: Washington, Boston, Dublin, — New Jersey , Connecticut, Delaware , Michigan, Rhode Island , Pennsylvania, West Virginia, New York, Atlantic, New Jersey, Jackpocket, America
London CNN —European consumer rights groups have accused Meta, the owner of Facebook and Instagram, of carrying out a “massive” and “illegal” operation of collecting data from hundreds of millions of users in the region. The European Consumer Organisation (BEUC), an umbrella body for 45 consumer groups, said eight of the groups were filing complaints with their respective national data protection authorities Thursday. The company’s practices, the groups argue, breach parts of the European Union’s signature data privacy law, the General Data Protection Regulation or GDPR. Several days later, Meta launched a subscription service allowing its European users to pay up to €12.99 ($14) a month to use ad-free versions of Facebook and Instagram. The organization filed a complaint with European consumer protection authorities in November, arguing that this “pay-or-consent” approach was an example of an unfair and “aggressive” commercial practice prohibited under EU law.
Persons: Meta, , Ursula Pachl, Brian Fung Organizations: London CNN, Facebook, European Consumer Organisation, General Data, CNN, Meta Locations: Europe, United States
The FTC filed a lawsuit against H&R Block over what the commission called deceptive advertising. AdvertisementSo-called "free" online tax filing services like Intuit's TurboTax and H&R Block's Online Filing option have, for a long time, not actually been free for many Americans. The consumer protection agency filed a complaint against H&R Block last week, accusing the company of deceptive advertising and unfairly deleting users' tax data. A 2019 ProPublica investigation found Intuit and H&R Block's practices — including hiding their free filing options from Google search — are part of a decadeslong lobbying effort by the companies to keep tax filing services complicated. It was partially because of those lobbying efforts that the IRS did not roll out its own online free tax filing pilot until last year.
Persons: , Samuel Levine, Levine, Dara Redler, Derrick L, Plummer Organizations: FTC, H, Intuit, Service, Consumer, Business, NPR, Google, IRS Locations: FTC's
High grocery prices helped scuttle the dealInflation at the grocery store loomed over the proposed merger. Over the past four years, grocery prices have risen significantly,” the FTC said in its lawsuit. Kroger had committed to invest $500 million in lower prices and $1.3 billion to improve Albertsons’ stores if the merger cleared. Yet consolidation in the grocery sector is growing, and small grocery stores are struggling. Traditional grocery stores have also lost ground to Walmart, Costco, dollar stores and online retailers during that span.
Persons: it’s, Kroger, Ash, , ” Greg Ferrara, Joe Biden, Lina Khan, Khan, Marc Perrone, ” Sen, Elizabeth Warren, ” Joe Feldman Organizations: New, New York CNN, Kroger, Albertsons ’, Albertsons, Walmart, FTC, Bureau of Labor Statistics, Albertsons Cos, Safeway, Bloomberg, Getty, Agriculture Department, Costco, Independent, National Grocers Association, Meta, Microsoft, Unions, Democrats, Food, Commercial Workers ’, , Top Democratic, Twitter, Aldi, Activision, Telsey Advisory Locations: New York, Scottsdale , Arizona
The consumer protection agency’s complaint alleges that H&R Block makes it unnecessarily time consuming and frustrating for consumers to downgrade to a lower cost tax-preparation option online after initially selecting a higher cost one. “H&R Block deceptively markets its Online Products by representing to consumers that they can file for free using H&R Block, when in fact, many consumers have tax situations that are not covered by H&R Block’s Online Product,” according to the complaint. We are confident in the value our services and offerings provide to our clients who have trusted H&R Block for nearly 70 years,” Redler said. H&R Block told CNN “there is no threshold. Earlier this month, the FTC took similar action against Intuit, maker of Turbo Tax tax filing software, “for deceiving consumers with bogus advertisements pitching ‘free’ tax filing that millions of consumers could not use.”
Persons: , Dara Redler, ” Redler, It’s, Jeff Jones, Organizations: New, New York CNN, Federal Trade Commission, Products, CNN, FTC, Block, CNN Business, Intuit, Turbo Locations: New York
An H & R Block tax preparation office is seen on Flatbush Avenue on February 06, 2024 in the Prospect Heights neighborhood of Brooklyn borough in New York City. H&R Block marketed free products to many consumers who didn't qualify and made it difficult to downgrade, according to the complaint. "H&R Block allows consumers to downgrade to a less expensive DIY product via multiple mechanisms while ensuring the preparation of accurate tax returns." FTC banned 'deceptive advertising' from IntuitThis is the second FTC action against tax filing software providers in recent history. Other free tax filing optionsMeanwhile, consumers have several free tax filing options this season, including a Direct File pilot via the IRS, which will offer limited free filing for certain taxpayers in 12 states by mid-March.
Persons: Michael M, Samuel Levine, Dara Redler, Ed Mierzwinski, PIRG Organizations: Santiago, Getty, Intuit, Federal Trade Commission, Block, Consumer Protection, U.S . Public Interest Research, FTC, IRS Locations: Flatbush, Prospect Heights, Brooklyn, New York City, FTC's
"Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating." Kroger said in a statement that blocking the deal "will actually harm the very people the FTC purports to serve: America's consumers and workers." The company also pledged $500 million to reduce prices for customers and $1 billion to raise employee wages and expand benefits. Two unions that represent Kroger and Albertsons employees, the United Food and Commercial Workers International Union and the Teamsters union, opposed the deal. Higher grocery prices have irked consumers and become a hot topic on the campaign trail.
Persons: Henry Liu, Kroger, Albertsons, Biden, Joe Biden, Rodney McMullen Organizations: U.S . Federal Trade Commission, Kroger, Albertsons, FTC, Washington D.C, Walmart, Amazon, Costco, White, United Food, Commercial Workers International Union, Teamsters Locations: Arizona , California, Washington, , Illinois, Maryland , Nevada , New Mexico , Oregon, Wyoming, FTC's
In an interview with NBC News, Paul Carpenter said he was hired to create the audio by Steve Kramer, a campaign specialist recently paid over $100,000 by long shot Democratic presidential candidate Rep. Dean Phillips' campaign. Around the time of their collaboration, in January, Federal Election Commission records show that Phillips' campaign paid Kramer $112,353 for "NEW YORK BALLOT ACCESS 2ND PAYMENT" and more than $17,000 for similar work in Pennsylvania. AdvertisementDespite having paid Kramer for campaign services, Phillips' campaign press secretary, Katie Dolan, said the trailing campaign did not ask for the Biden audio to be produced. Phillips' campaign didn't appear to receive much of a boost — if any — from the fraudulent robocall scam. After weeks of campaigning, Biden trounced him in New Hampshire's Democratic primary via a write-in campaign.
Persons: he's, Joe Biden's, Paul Carpenter, Steve Kramer, Dean Phillips, Carpenter, Kramer's, , Kramer, Phillips, Biden, Katie Dolan Organizations: Democratic, NBC News, Business, NBC, Commission, New, Federal Communications Commission, Telephone Consumer Locations: New Orleans, New Hampshire, Pennsylvania
Payment apps have come under scrutiny by lawmakers and regulators as their usage skyrockets. That ease of use has 80% of Americans using mobile payment apps, according to a recent survey by NerdWallet. Transaction volume across all payment app service providers in 2022 was estimated at about $893 billion, according to the Consumer Financial Protection Bureau. Lawmakers are also calling on payment app companies to clarify their reimbursement policy if consumers get scammed and to make it easier for users to report fraud. In the meantime, experts say that consumers need to understand how these apps work, the fees that may be charged and the risks involved in storing money in a mobile payment app.
Persons: Amy Zirkle, Sen, Sherrod Brown Organizations: Consumer Financial, Finance, Democratic, Capitol, Banking Locations: Ohio
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