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Trump DOT nixes compensation requirement for airline delays and cancellations
Yahoo Finance· 2025-09-09 16:11
Group 1 - The Department of Transportation (DOT) is withdrawing a proposed rule that would have required airlines to compensate customers for cancellations or significant changes caused by the airlines themselves [4][7]. - The Biden administration had previously initiated a rulemaking process in December to enhance consumer protections, including cash compensation and other benefits for disrupted flights [3][7]. - Consumer rights groups express concern that the rollback of these protections negatively impacts customer experience, particularly during flight delays and cancellations [5][7]. Group 2 - Airlines For America, a lobby group for U.S. airlines, has requested the cancellation of major consumer protections, including the proposed compensation rule [4][6]. - Despite the withdrawal of the new proposed rule, a final rule requiring airlines to provide automatic cash refunds for canceled or significantly delayed services remains in effect [6][7]. - The current administration's approach contrasts with the previous administration's focus on consumer protections, indicating a shift in regulatory priorities [3][5].
Inside DOGE’s takeover of Consumer Financial Protection Bureau #politics #shorts
Bloomberg Television· 2025-07-27 13:30
I was laid off for about 6 weeks and got reinstated. Of course, I had mailed my computer back, mailed my laptop back, my ID card, all of that. Um, so it actually took them another 2 or 3 weeks to send me my laptop back. So, I was sort of being paid to do nothing for the first 2 or 3 weeks.It was sort of the model of of inefficiency, if you will. I think I was back for about a month or so. Ended up putting in my two week notice and taking another role.They tried to fire 95% of the the agency the day that I g ...
Capital One cheated customers out of millions from ‘high interest' savings accounts: NY lawsuit
New York Post· 2025-05-14 18:13
Core Viewpoint - Capital One is facing a lawsuit from New York Attorney General Letitia James for allegedly misleading depositors regarding interest rates on its 360 Savings accounts, resulting in millions of dollars in lost interest [1][3][4]. Group 1: Allegations Against Capital One - The lawsuit claims that Capital One promised depositors one of the highest interest rates in the country for its 360 Savings accounts but froze the rate at 0.30% despite rising interest rates nationwide [1][4]. - Capital One launched 360 Performance Savings accounts in September 2019, offering new depositors interest rates that peaked at 4.35%, while existing depositors remained at lower rates [2][3]. - The complaint alleges that Capital One did not inform 360 Savings depositors about the possibility of earning higher rates by switching accounts and instructed employees to remain silent unless customers inquired [3][6]. Group 2: Legal and Financial Context - The lawsuit seeks civil fines and restitution for affected customers, accusing Capital One of violating New York consumer protection laws [3][4]. - Capital One's current yield on its 360 Performance Savings accounts is 3.6% [4]. - The company recently settled private nationwide litigation regarding the 360 Savings accounts, although the terms of the settlement have not been disclosed [6].