DIRS.INFO The most relevant business & tech news

☆ 401(k) rollover advice rule is at risk. Here's what retirement savers need to know
▼ + stars: | 2024-08-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Two federal district courts in Texas issued a national "stay" of the regulation, in separate rulings in July. The rule will "create a level playing field" for all trusted investment professionals, according to a Labor Department spokesperson. "The insurance industry can continue to advise investors and sell annuities, without giving advice that is imprudent, disloyal, or tainted by misrepresentations or overcharges," the spokesperson said. Current retirement rollover advice rules stay in effectIn the meantime, the current status quo remains in effect, attorneys said. Current rules let brokers give investment advice that earns them a higher commission but isn't in savers' best interests, the Labor Department said during the rulemaking process.

Persons: Julie Su, Chip Somodevilla, Fred Reish, Drinker Biddle, didn't Organizations: Getty, U.S, Northern, Northern District of, American, of, United States Department of Labor, Americans, Consumer Choice, Department of Labor, Labor Department, Department of Justice, Biden, National Association of Insurance, Financial Advisors, National Association Locations: Texas, Northern District, Northern District of Texas, ACLI, NAIFA, Dallas, Fort Worth

☆ Even Nvidia can't escape the government's crackdown on Big Tech
▼ + stars: | 2024-08-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewEven Nvidia, which appears untouchable in 2024, may not be immune to the government's sweeping crackdown on the Magnificent Seven. They have received complaints from competitors that Nvidia abused its dominance and pressured cloud providers to buy multiple Nvidia products, The Information reported on Thursday. Nvidia did not immediately respond to Business Insider's request for comment sent outside regular business hours. The DOJ's focus on Nvidia follows a series of other recent government investigations into Big Tech.

Persons: —, prem, Biden Organizations: Service, Department, Politico, Nvidia, Business, Reuters, Big Tech, FTC, DOJ, Apple, Amazon, Activision Blizzard

☆ One New Yorker won $150,000 when she found out her landlord had been overcharging her. Now a bunch more tenants are using stabilization laws to get money back and pay cheaper rent.
▼ + stars: | 2024-02-28 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +13 min

AdvertisementAs TikTok becomes the new town square for all things economic transparency, the latest target of populist ire is New York City landlords. Several videos that have recently gone viral show viewers how to look into their rent histories and call out examples of potentially illegal hikes. Wait times for rent histories are now at 20 business days, up from 10 in late January, as a result of "social media activity." Klenkar has made TikToks about her old apartment and rent histories and has had "lots" of people reach out with their own rent histories. More may be on their way as New Yorkers seem to be requesting their rent histories en masse.

Persons: they've, —, Danielle —, Danielle, TikTok, it's, There's, they're, Allia Mohamed, She's, Mohamed, They've, he's, Carla —, Carla, Thomas Trutschel, Anna Klenkar, Klenkar, I've, Gothamist, DHCR, overcharge, Esteban Girón, shouldn't, It's Organizations: New York, Tenants, Service, Business, BI, Yorkers, New, US, Division, Housing, Community, Rent Administration, Rent, New York State Homes, Community Renewal, Tenant Union, Tenants PAC, Directors Locations: New York State, Cobble Hill, Brooklyn , New York, York City, New York, New York City, New, Washington Heights, Manhattan, Long Island City, Lower, Side, backpay

☆ Dartmouth, Northwestern, Rice and Vanderbilt settle financial aid lawsuit
▼ + stars: | 2024-02-24 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

New York CNN —Four more private universities have agreed to settle a lawsuit which alleged they violated antitrust laws in determining financial aid amounts for admitted students, according to court documents filed Friday. Dartmouth College, and Rice, Vanderbilt and Northwestern universities agreed to pay a total of $166 million to settle claims filed in a 2022 class action lawsuit alleging the schools colluded on the amount of financial aid awarded to students, while favoring applicants from wealthier families. In 2022, the University of Chicago agreed to settle for $13.5 million. “Nearly 15% of this year’s first-year class is attending Dartmouth without responsibility for paying tuition, housing, meals and many other fees, and more than half of the class receives some form of financial aid. Meanwhile, Dartmouth, Rice, Vanderbilt and Northwestern’s settlements range from $33.75 million to $55 million each.

Persons: Brown, Emory, ”, “, Robert Gilbert Organizations: New, New York CNN, Dartmouth College, Vanderbilt, Yale, University of Chicago, CNN, University, Dartmouth, ” Rice University Locations: New York, Rice, Northwestern, Columbia, Duke, Dartmouth

☆ New Yorkers are flooding a government website to figure out if they're overpaying for rent
▼ + stars: | 2024-02-24 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

A spokesperson for DHCR told Business Insider the "surge" in rent history requests is "unprecedented." Mohamed said that since she posted that TikTok, hundreds of people have emailed openigloo asking for help deciphering the rent history information they've received from DHCR. Diana Prendergast, a 27-year-old recording artist who lives in New York, requested her rent history after learning about it from TikTok. She said she's still awaiting her rent history. Did you request your rent history, or discover you were being overcharged?

Persons: —, openigloo, Allia Mohamed, Mohamed, they've, Diana Prendergast, she's, Gothamist Organizations: Service, New York, Homes, Community Renewal, New, DHCR, Business, The Met Council, Housing Locations: New York, DHCR, TikTok, New York City

☆ Cabbing in Italy can be a gnarly affair. Here’s how to navigate it
▼ + stars: | 2023-12-27 | by ( Clement Tan | Jonathan Delise | ) www.cnbc.com time to read: +4 min

I knew something was amiss when the taxi meter read 10.50 euros as we pulled away from the Roma Termini train station. Some travel sites suggest there's an additional 2 euro surcharge for all taxi rides from Roma Termini, although that information is not listed on official sites. Before arriving in Italy, download taxi hailing apps associated with the major Italian taxi companies, such as ItTaxi, FreeNow and Free Taxi. The event took place on Nov. 9, 2023, in Rome, Italy. Do your researchLearn to recognize official white cabs and the various city emblems, and where taxi drivers post their taxi licenses and vehicle registration numbers.

Persons: Milan —, Roberto Gualtieri, Eugenio Patane, Claudia Gualdi, Francesca Volpi, Aurelian, Gabriel Bouys Organizations: Taxi, Mayor, Mobility, Nurphoto, Getty, Bloomberg, Fiumicino Airport, AFP Locations: Roma, Italy, Trastevere, Rome, Piazza del, Riskline, Duomo, Milan, Florence

☆ Dollar General is overcharging customers at checkout in several states, according to lawsuits and customers
▼ + stars: | 2023-11-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Customers and state governments have accused Dollar General of overcharging for various products. Additionally, two Dollar General customers and two employees told Business Insider they'd been overcharged or had seen customers overcharged in Florida, Pennsylvania, West Virginia, and Alabama. High turnover and reduced hours for Dollar General employees have led to merchandise crowding aisles, creating safety hazards. The state's Department of Agriculture, Trade, and Consumer Protection said inspectors had found that Dollar General stores overcharged customers for 9% of products the inspectors evaluated. In North Carolina, Dollar General paid nearly $71,000 in fines related to its pricing practices from August 2022 to April 2023.

Persons: —, they'd, Andrew Bailey, Catherine, she'd Organizations: Service, Dollar, Business, state's Department of Agriculture, Trade, Consumer Protection Locations: Ohio, Missouri, Wisconsin, Vermont, North Carolina, Florida , Pennsylvania, West Virginia, Alabama, Iowa, Pennsylvania, Florida

☆ White House announces new efforts to crack down on 'tens of billions' in junk fees
▼ + stars: | 2023-10-11 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — The White House on Wednesday will announce new initiatives to rein in tens of billions worth of surcharges tied to goods and services, or "junk" fees, in partnership with two of the nation's leading consumer-protection agencies. "When people request basic information about their accounts, big banks cannot charge them massive fees or trap them in endless customer service loops," Chopra told reporters on Tuesday. "Charging a competitive price for a legitimate service makes sense but charging junk fees for basic customer responsiveness doesn't. Both the FTC and the CFPB have taken preliminary actions toward cracking down on junk fees over the past few months. Earlier this year, the CFPB released a rule proposal on excessive credit card fees, while the FTC began targeting unfair practices in ticketing and other fees in late 2022.

Persons: Joe Biden, WASHINGTON —, surcharges, Lael Brainard, Lina Khan, Rohit Chopra, Khan, Chopra, Wells Organizations: WASHINGTON, National Economic Council, Federal Trade, Consumer Financial, Bank of America, Regions Bank, Information, Regulatory Affairs, NEC, of Economic Advisers, FTC Locations: Israel, Washington , DC

The Federal Trade Commission and 17 state attorney generals filed an antitrust lawsuit against Amazon on Tuesday, alleging the e-commerce behemoth uses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition. The lawsuit, filed in U.S. District Court for the Western District of Washington, is the result of a years-long investigation into Amazon’s businesses and one of the most significant legal challenges brought against the company in its nearly 30-year history. Many had wondered whether the agency would seek to a forced break-up of the retail giant, which is also dominant in cloud computing and has a growing presence in other sectors like groceries and health care. In a briefing with reporters, Khan dodged questions of whether that will happen. Political Cartoons View All 1182 Images“At this stage, the focus is more on liability," she said.

Persons: ”, Lina Khan, Khan Organizations: Federal Trade Commission, Amazon, Western, of Locations: U.S, of Washington

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). AdvertisementAdvertisementI've learned a lot about how to make travel painless, and I always use a travel rewards credit card. Some travel credit cards even offer bonus points that apply when you book airfare directly with airlines. However, credit cards come with more robust protections when it comes to disputes thanks to the Fair Credit Billing Act. 5. Credit cards have zero fraud liabilityFinally, credit cards come with zero fraud liability, which is incredibly important when you're making pricey purchases online (e.g., buying airfare through an airline website or mobile app) and trying to prevent credit card fraud before it happens.

Persons: I've, There's Organizations: Service, ®, American, Delta, Federal Trade Commission Locations: Wall, Silicon, Delta

The insurer said the rule, which would apply retroactively, was "arbitrary and capricious," and threatened "unpredictable consequences for Medicare Advantage organizations and the millions of seniors who rely on the Medicare Advantage program for their healthcare." Close to half of the approximately 65 million Medicare enrollees sign up for Medicare Advantage. Medicare Advantage plans differ from traditional Medicare because private companies offer them, and are reimbursed by the government for care. Though Humana is based in Louisville, Kentucky, it filed its lawsuit with the U.S. District Court in the Northern District of Texas. The case is Humana Inc et al v Becerra et al, U.S. District Court, Northern District of Texas, No.

Persons: Andrew Kelly, Humana, Biden, Xavier Becerra, District Judge Reed O'Connor, Becerra, Jonathan Stempel, Leroy Leo, Richard Chang Organizations: Humana Inc, REUTERS, U.S, overcharges, Medicare, Services, Jan, U.S . Department of Health, Human Services, CMS, Northern District of Texas, District, Fort, Affordable, Court, Northern District of, Thomson Locations: Queens , New York City, U.S, Louisville , Kentucky, Northern District, Northern District of Texas, New York, Bengaluru

☆ Wells Fargo, a juicy target, sparks lead counsel fight among shareholder firms
▼ + stars: | 2023-09-01 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Meanwhile, yet another plaintiffs' firm, Robbins, is deep into a similar derivative suit against Wells Fargo board members in San Francisco Superior Court. But it’s worth noting that in 2022, Wells Fargo won the dismissal of a previous shareholder derivative suit accusing the board of regulatory compliance failures. Kessler said its complaint, which includes "detailed" and "substantial" references to Wells Fargo internal documents, was more likely to withstand a dismissal motion from the bank. Scott + Scott told Tigar that it had the most up-to-date documents from Wells Fargo because it brought a Section 220 demand after the $3.7 billion CFPB agreement. I would not be surprised to see a rival derivative suit filed in Delaware Chancery Court by one of the shareholder firms spurned by Tigar.

Persons: Cromwell, Wells Fargo, Wells, Robbins Geller Rudman, Dowd, Kessler Topaz Meltzer, Scott, Scott –, They're, Jon Tigar, Robbins, Wells Fargo’s, Kessler Topaz, Kessler, Robbins Geller, Tigar, Robbins Geller didn’t, Randall Baron, board's, Andrew Cheng, Read Organizations: Sullivan, U.S . Consumer Financial Protection Bureau, U.S . Office, Currency, OCC, Wells, U.S, District, San Francisco Superior Court, Tigar, Wells Fargo, San Francisco, Thomson, Reuters Locations: Oakland, Wells Fargo, San Francisco, Wells, San, California, Delaware Chancery

☆ House Democrats see the Biden Administration's crusade against junk fees as a winning strategy for 2024 and are joining in on the fight against the 'hidden and deceptive' add-ons
▼ + stars: | 2023-08-14 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

In October 2022, the Biden Administration announced its plans to fight against hidden "junk fees." House Democrats now see it as a winning issue and are planning more than a dozen events addressing it. According to a recent report from the Associated Press, with assistance from the Progressive Change Institute, some House Democrats have already held events addressing junk fees and there are at least a dozen or more planned across the country. Speaking to the AP, House Speaker Hakeem Jeffries said that "House Democrats will continue to work with President Biden to fight these excessive fees, hold corporations accountable and lower costs for families across the country." The push from House Democrats comes at a time when the party is attempting to regain the majority in the House of Representatives, which it lost control of in the 2022 midterm elections.

Persons: It's, Biden, Hakeem Jeffries, Elissa Slotkin, Democratic Sen, Debbie Stabenow Organizations: Biden Administration, Ticketmaster, House Democrats, Service, Democrats, White House, Entertainment, Associated Press, Progressive Change Institute, AP, Democratic, Senate, Representatives Locations: Wall, Silicon, New York , Alabama

A move to ‘end surprise fees’With inflation still a potent political issue, President Biden is stepping up his war on so-called junk fees. At the White House on Thursday, he will host a panel of executives from several companies, including Airbnb and Live Nation, which drew outrage from consumers over its botched ticket sales for Taylor Swift’s tour last year. The companies are expected to announce new efforts to “end surprise fees,” the White House said, including through price-transparency commitments and other ways of fully disclosing upfront costs to consumers. The administration hopes that the changes will be adopted by companies across a wide array of industries, including live events and travel. In his State of the Union address in February, he denounced the added costs: “I know how unfair it feels when a company overcharges you and gets away with it.”

Persons: Biden, Taylor Swift’s, ” Organizations: White

☆ Why Walmart, Costco, and Sam's Club workers check your receipts — and you should comply
▼ + stars: | 2023-06-10 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +3 min

Walmart, Costco, Sam's Club, and many other retailers check shoppers' receipts at store exits. Retail employees check receipts to reduce theft and ensure customers leave with all their purchases. So why would any store check receipts if it creates if it causes so much tension? Why Costco and Sam's Club check receiptsBut checking receipts isn't just about reducing theft. "To ensure that you are charged correctly for the merchandise you have selected, Sam's Club may inspect or electronically scan your merchandise and electronic/phone or paper copy receipt(s) when you exit any Sam's Club location," the warehouse chain said on its website.

Persons: —, you've, Gloria Dawson, Costco, it's Organizations: Walmart, Costco, Sam's, Service, Shoppers Locations: Denver

☆ Labcorp to pay $2.1 million to settle allegations it overbilled Defense Department for genetic tests for military members
▼ + stars: | 2023-03-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Laboratory Corporation of America will pay the U.S. $2.1 million to settle allegations that it overbilled the Department of Defense for genetic tests that involved children and fetuses, the Justice Department announced Monday. Hecker-Gross' allegations surrounded genetic tests performed under a contract LabCorp entered with the Defense Department in 2012. Hecker-Gross alleged that LabCorp overcharged and double or triple-billed DOD for genetic tests performed by GeneDx. There were $210,959 in overcharges on 38 tests, including $113,525.50 for 21 tests billed between March 2016 and January 2017 alone, the lawsuit alleged. In 1996, LabCorp agreed to pay $187 million for fraudulently billing the government for unnecessary tests on elderly patients.

☆ Popular Medicare Advantage plans have 'clear cases of overpayments and improper billing of US taxpayers,' advocates and analysts say
▼ + stars: | 2022-12-05 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

The original Medicare program is offered directly through the federal government. "There hasn't been enough of an indictment of Medicare Advantage plans," Mary Johnson, a Social Security and Medicare policy analyst at the Senior Citizens League, told Insider. The Congressional Budget Office estimates that the share of all Medicare beneficiaries enrolled in Medicare Advantage plans will grow to 61% by 2032. The politics of Medicare AdvantagePoliticians, primarily Republicans, have done their part to promote Medicare Advantage over the original Medicare plans since President George W. Bush overhauled the program in 2003. Johnson said Medicare Advantage was so popular among conservatives because it shifted financial responsibility from the government to patients.

Nov 1 (Reuters) - Dollar General Corp (DG.N), one of the largest U.S. discount retailers, was sued on Tuesday by Ohio, which accused the company of charging shoppers more at the register than it advertised on store shelves. Dave Yost, the state's attorney general, said Ohio lets stores have error rates on overcharges as high as 2% but that testing last month at 20 Dollar General stores found error rates ranging from 16.7% to 88.2%. "This seems like a company trying to make an extra buck and hoping no one will notice," Yost said in a statement. Dollar General did not immediately respond to a request for comment. Reporting by Jonathan Stempel in New York; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "overcharges"

18 mentions found