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Consumer Product Safety Enforcement To Heat Up Under Biden Administration | Morrison & Foerster LLP - Class Dismissed


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More aggressive enforcement actions and increased regulatory activities under the Biden Administration are here. In President Biden’s first weeks, he is making good on his promise to reverse course from the previous administration’s product safety agenda.
So far, we witnessed rare civil penalties against product manufacturers, a flurry of recalls, and the progression of new product safety regulations. We also expect Biden to nominate a new commissioner to the Consumer Product Safety Commission (CPSC), which will shift the agency’s power balance.
Enforcement Actions. CPSC recently announced a $7.95 million civil penalty in a settlement with Cybex International, Inc., an exercise equipment manufacturer.[1] CPSC charged Cybex with failing to immediately report a known product safety defect. CPSC learned Cybex had received 85 reports of broken handles on its arm curling machine and 27 reports of injuries on ....

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Financial Services Regulation in a Biden Administration: Personnel Is Policy | Pillsbury Winthrop Shaw Pittman LLP


TAKEAWAYS
A closely divided Congress will limit financial services legislation but Biden appointees in key regulatory positions will have a large impact on the financial services policy agenda.
The Biden administration is likely to support fintech companies that are developing innovative financial products and services while increasing focus on consumer protection regulatory and enforcement priorities.
Although financial services regulation did not receive significant attention during the 2020 election campaign, President-elect Biden could have a significant impact on policies affecting financial institutions across the landscape. During the campaign, President-elect Biden supported proposals to expand access to banking services and financial products to the underserved and address disparate access to and treatment by the financial system. ....

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