Almost exactly a year after Morgan Stanley agreed to pay $2.6 billion to close the books on a Department of Justice investigation related to it role in the subprime mortgage crisis, the company is set to pay another $3.2 billion to settle federal and state allegations that it deceived investors in toxic mortgage-backed securities. [More]
NEW YORK
Citi Now Blocking DraftKings, FanDuel Transactions In New York State
By 2.5.16
With the legality of daily fantasy sports [DFS] sites like DraftKings and FanDuel currently tied up in legal limbo for New York residents, Citigroup confirmed today that it is now blocking its customers in the state from transacting any business with either site. [More]
New York Attorney General Calls For Caps On Ticket Resale Prices, Outlawing Of Scalper Bots
By 1.28.16
When you go to buy tickets for a popular concert or sporting event, you likely know that you’ll ultimately have to make your purchase from a ticket reseller who will mark up the price to try maximize their profit. But the New York state attorney general is calling on the state legislature to put new rules into place that would protect consumers from scalpers who swoop in and buy up every ticket before they are available to actual fans. [More]
New York City Bans Hoverboards On Buses, Trains
By 1.27.16
If you live in New York City and plan to ride the subway or hop on a city bus, you better leave your “hoverboard” at home. The state’s Metropolitan Transportation Authority announced Wednesday that it is banning the self-balancing scooters from public transportation over fire safety concerns. [More]
New York Program Will Pay For Two Years Of Recent Graduates’ Student Loans
By 1.5.16
For many recent graduates, repaying their education debt obligations can be a struggle. For some in New York, that struggle just got a little less cumbersome thanks to a recently launched student loan forgiveness program that aims to help the debtors land on their feet after graduation.
New York Company Says It Will Be The First To Offer Kosher Certified Medical Marijuana
By 12.31.15
There are all kinds of foods that can be kosher, so why not marijuana? A pot grower in New York says its products have been certified kosher by the Orthodox Union, and will be ready to go when the state’s medical pot program starts up in January. [More]
30 Online Retailers Agree To Stop Selling Toy Guns That Look Like The Real Thing To New York Residents
By 12.15.15
After an investigation by New York Attorney General Eric Schneiderman, a long list of online retailers that sold authentic-looking toy guns through Amazon.com have now agreed to stop peddling the toys to state residents. [More]
New Yorkers: Here’s How To Help Make Sure You Get The Internet Speed You Pay For
By 12.14.15
Back in October, New York Attorney General Eric Schneiderman sent letters to three of the state’s biggest broadband providers — Time Warner Cable, Cablevision, and Verizon — seeking information about the connection speeds they market to consumers and the speeds they actually deliver. Now, the state is asking for consumers’ help in seeing if these Internet service providers are being honest. [More]
Not So Fast, New York: DraftKings Says It’s Still Able To Operate In New York State
By 12.11.15
Earlier this morning, a New York Supreme Court judge granted the state’s temporary injunction against DraftKings and FanDuel, blocking the daily fantasy sports (DFS) sites from doing business in the state, pending the outcome of the state’s lawsuit against them. However, DraftKings says it was able to hold off this injunction, allowing the site to remain in operation in the Empire State for the time being. [More]
Court Temporarily Blocks DraftKings, FanDuel From Doing Business In New York State
By 12.11.15
UPDATE: DraftKings says it was able to get the court to hold off on enforcing the injunction pending an appeal of today’s ruling. That means DraftKings will remain operational in New York state for the time being. [More]
Consumer Advocates Ask Regulators To Investigate T-Mobile Over Advertising, Debt Collection Practices
By 12.8.15
Those two-year mobile phone contracts we all signed for so long became a relic of the past pretty quickly over the last two years, with national providers all abandoning ship. T-Mobile moved to “contract freedom” almost two years ago now, and has since then continued to make a big deal over the fact that their users are neither locked into time-locked agreements nor face old-school high data overage fees. [More]
Walmart Employee Says He Was Fired For Waiting 30 Minutes To Turn In $350 He Found In Parking Lot
By 12.2.15
A maintenance employee for Walmart thought he was doing the right thing by handing over a stack of bills totaling $350 that he found discarded in the store’s parking lot. But instead of being thanked for his honesty, the man says he was fired because he waited 30 minutes before handing over the cash. [More]
DraftKings Tries To Make Its Case That Daily Fantasy Sports Are Not Gambling
By 11.24.15
A week after New York state sued DraftKings, alleging that the daily fantasy sports (DFS) site is an illegal gambling operation, DraftKings has filed a brief with the court to make its argument that DFS isn’t gambling at all. [More]
Customer Files Class-Action Against McDonald’s Operator Over Hepatitis A Exposure
By 11.19.15
More than 1,000 diners at a New York McDonald’s may have been exposed to hepatitis A by an employee, a new potential class-action lawsuit against the operator of the fast food restaurant claims. [More]
New York State Adds Yahoo To Inquiry Into Daily Fantasy Sports Sites
By 11.18.15
Four months after Yahoo announced it would offer sports fans the opportunity to make money by betting on professional athletes’ performances, the company became the latest target in a New York state investigation into the business practices of the currently unregulated multi-million dollar online daily fantasy sports industry. [More]
New York State Sues DraftKings & FanDuel Over Alleged Gambling, False Advertising
By 11.17.15
One week after concluding that, according to New York state law, daily fantasy sports sites DraftKings and FanDuel are unlicensed gambling operations, the state has filed lawsuits against both companies, seeking to stop them from offering their service to New Yorkers. [More]
Papa John’s Franchisee Gets Jail Sentence For Not Paying Minimum Wage
By 11.16.15
Earlier this year, the owner of nine Papa John’s franchises in New York City was brought up on charges wage theft for failing to pay his employees the legal minimum wage. As part of a plea deal, the franchisee will pay hundreds of thousands of dollars back to those workers and serve some time behind bars. [More]
John Oliver Has Rewritten Those DraftKings & FanDuel Ads For You
By 11.16.15
With daily fantasy sports sites DraftKings and FanDuel in a high-profile legal battle with New York state over whether they are a form of unlicensed gambling or games of skill, HBO’s John Oliver has released his own version of the sites’ infamous “anyone can win” ads. [More]
