Author:

Jacob Taylor

No Payday for the CFPB: A Recent 5th Circuit Decision Jeopardizes the CFPB and its Funding

A decision filed October 19, 2022 by the Fifth Circuit Court of Appeals has vacated a payday lending rule put in place by the Consumer Financial Protection Bureau (CFPB). The rule was put in place to prevent predatory lending practices and unfair practices in their collection. The court decision was not based on the rule being unconstitutional but rather based in how the bureau is funded. The decision has overreaching implications on the future enforcement of CFPB rules.

The Gig is Up: Government Efforts to Regulate Gig Work and the Changing Definition of Employment

On October 11, 2022, the Department of Labor released a proposal to redefine independent contractor classifications under the Fair Labor Standards act. The change in definition, if approved, will have major implications for gig workers and companies such as Uber, Doordash, Grubhub, etc. These companies have already had a drop in stock value because of the announcement and the companies are at risk of losing more value as the gig economy destabilizes.

Loot Boxes: Benign Entertainment or Gambling for Minors?

In 2019, Senator Josh Hawley put forth legislation to regulate loot boxes advertised or sold to minors in video games. The legislation was referred to the Committee on Commerce, Science, and Transportation but did not move any further. The Federal Trade Commission (FTC) has been researching the use of loot boxes since 2018 and has done multiple workshops to promote public awareness of microtransactions. More recently there has been public sentiment for changes in the gaming industry and other countries such as Singapore have taken steps this year to protect consumers from predatory practices of game companies.