5 Things to Know This Weekend: July 14
Liz Biscevic—5 Things to Know Today
Just in case you were too busy to read the news this week, here are 5 things to know before heading into the weekend.
On Monday, the Consumer Financial Protection Bureau introduced rules to make it easier for customers to sue banks.
Until this, the fine print in many financial contracts hampered customers' ability to join class-action lawsuits against banks, making individual suits against banks a prohibitively costly and often fruitless prospect. Congress still has the power to overturn this rule in the next few months, unsurprisingly the Republican chair of the House Financial Services Committee has called the new rule "anti-consumer" and said he hopes it is thoroughly rejected.
In the conservative Islamic country, women aren’t allowed to drive or exercise, among a number of benign activities society prevents women and girls from engaging in publicly. In the last few years, however, the country has started to bend the rules about exercise. In the coming academic year, P.E. classes will be offered to female students in public schools.
They called it the “day of action” against the U.S. Federal Communications Commission and its new leader, Chairman Ajit Pai, who seeks to eliminate Obama-era procedures to recognize the internet as a utility. Right now, these regulations prevent internet service providers from deciding which content and sites load faster than others, and which to block entirely. For an entertaining refresher on FCC and net neutrality, check out Jon Oliver's Last Week Tonight
latest "diatribe" on the subject.
The new bill includes an amendment that would allow insurers offering Obamacare plans to offer cheaper policies with fewer benefits. It also includes new funding for opioid treatment and money for states to lower premiums for people with pre-existing conditions. It would also keep two Obama Administration taxes on the wealthy and the budget cuts to Medicaid. Still, major opponents, like the AARP and insurance companies themselves, remain unimpressed with the most recent effort.
The decline represents a shift by consumers to use Amazon or other online retailers as opposed to in-person shopping. Online shopping has caused retailers to slash prices in order to compete, which can affect overall sales. Other forms of retail, like restaurants and auto dealers, have also faced a decline in sales in the last few months.