Friday, October 4

● Payment processor penalized

● Debt ceiling brinksmanship

● Wasting in environmental corruption

● Wall Street undermines reform

Payment processor penalized
The Consumer Financial Protection Bureau asked a federal judge to impose a $1.38 million civil penalty against Meracord LLC and its owner, Linda Remsberg, for helping debt-settlement companies to collect illegal fees from consumers. Meracord, one of the country’s largest debt-settlement companies, violated the Telemarketing Sales Rule which forbids the collection of upfront fees before settling a customer’s debts, the CFPB said.

Debt ceiling brinksmanship
The Department of Treasury concluded in a report that a failure by Congress to approve an increase to the debt ceiling would be unprecedented and potentially catastrophic. Among other outcomes: credit markets could freeze, the value of the dollar could plummet, and U.S. interest rates could skyrocket, potentially resulting in a financial crisis and recession that could echo the events of 2008 or worse.

Wasting in environmental corruption
The National Center for Policy Analysis, a conservative think tank, claimed in a report that $1.24 billion spent by the U.S. over the past 12 years to support the Global Environmental Facility has not achieved any measurable environmental benefit. The GEF, led by the United Nations and the World Bank, “has merely served as a mechanism to spread funds between wealthy countries while doing little to help the poorest nations,” NCPA said.

Wall Street undermines reform
The banking and finance industry has spent $3.2 billion on federal lobbying and campaign contributions since 2009 when the Troubled Asset Relief Program paid out $700 billion to save Wall Street from collapse, Public Citizen said in a report. Public Citizen said the industry’s lobbyists and campaign donors oppose reforms that are intended to prevent a similar future collapse.

For Immediate Release is a daily compilation of press releases found on more than 1,000 websites that are maintained by the federal government and national advocacy organizations. Press releases selected for this feature are, in the opinion of the editor, exceptionally newsworthy, interesting or just plain curious.

Click for access to an archive of past For Immediate Release reports.

#

Tags:

No comments yet.

Leave a Reply

Monday, January 26

● Judge to DREAMers: ‘Hit the road’

● Union membership declined slightly in 2014

● Identity theft ring smashed in D.C.

● Record-breaking year for airport screenings

● Dog sniffs heroin in woman’s body

● Connecting sun to sockets

 

Pentagon: ISIL Fortifying Defenses In Iraq, Syria

And roughly 6,000 ISIL fighters out of 20,000 – 30,000 have been killed since Operation Inherent Resolve began in August.

LISTEN: The World in 2:00 – January 23, 2015

The World in 2:00 continents logo

Saudi Arabia’s King Abdullah is dead, Yemen’s president steps down and the European Central Bank embarks on its own ‘quantitative easing’ plan.

Pentagon: Yemen Situation Still Unclear

Just who is in control of Yemen?

Senate Dems Blast GOP Over Pipeline Amendments

Schumer said that Democrats were only able to move forward with approximately a third of their proposed amendments.

Ashton Carter Nomination Hearing Set For Feb. 4

Senate Armed Service Committee Chair Sen. John McCain (R-AZ) (Photo by James Cullum)

And the Senate Armed Services Committee has these other hearings set for this month.