Yazılar

CFPB ends Apple and U.S. Bank settlements early under Trump administration shift

/in /tarafından

The Consumer Financial Protection Bureau (CFPB) has ended oversight agreements with Apple and U.S. Bank years ahead of schedule, according to recent court filings. The move is part of President Donald Trump’s broader effort to reduce CFPB enforcement and roll back settlements imposed during the Biden administration.

Apple’s settlement stemmed from a 2024 CFPB action that found the company and Goldman Sachs violated consumer protection laws by mishandling disputes on the Apple Credit Card and misleading customers about interest-free transactions. The original agreement required five years of enhanced compliance, but has now been cut short. Apple paid a $25 million civil penalty, fulfilling its financial obligation.

U.S. Bank, meanwhile, faced a 2023 settlement over allegations it illegally blocked unemployed consumers from accessing pandemic-era benefits. The deal also required five years of compliance monitoring. The bank has since paid a $15 million penalty, made restitution payments, and pledged corrective measures, leading regulators to end oversight.

The filings also reveal the CFPB under Trump has dropped oversight for other firms, including Toyota and Bank of America, while halting nearly all enforcement actions still pending when Trump took office.

Critics say the changes mark a significant retreat from the agency’s consumer protection role, while supporters argue that excessive monitoring placed unnecessary burdens on businesses.

Lyft pays $19.4 million to New Jersey over driver classification dispute

/in /tarafından

Lyft has agreed to pay $19.4 million to New Jersey after state officials concluded the company misclassified more than 100,000 drivers as independent contractors between 2014 and 2017. The payment follows an audit by the state’s Department of Labor and Workforce Development, which found Lyft failed to make required contributions to unemployment, disability, and family leave funds.

The audit assessed Lyft $10.8 million in unpaid contributions plus $8.5 million in penalties and interest. Lyft initially contested the findings but later withdrew its request for a hearing, paying the balance to settle the matter. The company said it still believes it classified drivers properly under state law but chose not to pursue further legal challenges.

New Jersey Attorney General Matthew Platkin and Labor Commissioner Robert Asaro-Angelo said the misclassification deprived workers of critical protections. “There is no reason temporary or on-demand workers … can’t be treated like other employees,” Asaro-Angelo emphasized.

The case reflects a broader trend of scrutiny on gig economy companies. Lyft previously reached a $27 million settlement with Massachusetts in June 2024, and both Lyft and Uber continue to face regulatory battles over whether drivers should be treated as employees entitled to benefits such as minimum wage, overtime, and sick leave.