Legal & Regulatory

University of Phoenix

University of Phoenix under FTC scrutiny for possible unfair business practices

Since 2009, the University of Phoenix has received $488 million from its online programs that are popular to military veterans with GI Bill benefits. The Federal Trade Commission is investigating the University for unfair and deceptive practices involving veteran students.

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Protest for higher pay

Not a quick fix: A raise in fast-food hourly wages to $15 leads to 4% increase of product prices- study

Minimum wage increase has been a lingering issue in most economies. Part of the battle is determining its effects; however, shortly after Seattle began implementing $15 per hour minimum wage, a new study emerged focusing on increased product prices.

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Citibank

CFPB fines Citibank for illegal credit card practices

Citigroup's consumer bank has been fined to pay $700milion for its illegal credit card practices. The US Consumer Financial Protection Bureau (CFPB) has observed that Citibank's seven million customer accounts have been charged with misrepresenting costs fees. The consumer finance watchdog has also said that customers were charged for services not rendered to them. CFPB further notes that customers were affected by Citibank's deceptive marketing practices.

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Nike FuelBand SE

Apple and Nike to pay back customers $15 cash or $25 gift card as settlement in Nike+ FuelBand class action suit

Apple and Nike will reportedly settle the claim filed two years ago over a misleading ad about the exact capability of Nike+ FuelBand, offering either $15 cash or $25 gift cards on its stores in the U.S. and Puerto Rico.

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Jack Warner

U.S. investigates 6 banks connected to the FIFA financial fiasco

U.S. authorities dig deeper into the alleged FIFA financial fiasco, contacting more than half a dozen banks associated to the football corruption scandal.

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Phantom drone

Mike Gatto and Senator Ted Gaines wrote an anti drone bill in California

District 43 assembly member Mike Gatto and Sen. Ted Gaines wrote Senate Bill 167 and 168 intended to penalize drone operators for flying near the wildfire site in Sacramento, California.

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New York

New York moves to raise state minimum wage to $15 for fast-food workers

New York moved on Wednesday to raise the minimum wage for fast-food workers to $15 an hour by the end of 2018 in New York City and by mid-2021 in the rest of the state.

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Oracle

Oracle says Rimini Street copyright trial to begin in September

Oracle Corp (ORCL.N) said its copyright infringement lawsuit against software support services company Rimini Street Inc and the smaller rival's Chief Executive Seth Ravin would go to trial in September.

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Rio Tinto

Australian state could change mining approval rules, impact Rio Tinto project

The Australian state of New South Wales has proposed changing its mining approval process to give greater consideration to environmental concerns, potentially threatening a colliery expansion planned by mining giant Rio Tinto Ltd.

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Bank of America

U.S. banks post detailed crisis plans to avoid breakup threat

A dozen of the largest Wall Street banks on Monday published detailed plans to show how they would shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators.

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Brokerage house in Shanghai

China curbs IPOs, enlists brokers in all-out bid to end market rout

China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world's second-largest economy.

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Ivory

U.S. pushes China on ivory trade, wildlife NGOs

A senior U.S. official told China on Friday that its legal imports of ivory act as a loophole for illegal traders, and that it needs to understand the importance of wildlife NGOs.

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Fiat Chrysler Automobiles

Fiat Chrysler executive acknowledges recall issues, vows improvement

Fiat Chrysler Automobiles NV has fallen short on the execution of auto safety recalls and is working to improve its recall procedures and establish best practices, a senior executive with the automaker said on Thursday.

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Ukraine

EU extends trade and investment ban on Crimea

EU governments extended for a year a ban on trade and investment with Crimea on Friday, meaning European help for Russian Black Sea oil and gas exploration and visits by European cruise ships will remain outlawed.

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LA Mayor Eric Garcetti

Los Angeles mayor signs $15/hour minimum wage hike into law

Los Angeles Mayor Eric Garcetti on Saturday signed a law hiking the city’s minimum wage from $9 an hour to $15 by 2020, an increase that will affect hundreds of thousands of workers.

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