Week in Review

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Senate votes to reauthorize FDA user fees, JP Morgan hires former SEC exec, and the White House unveils digital strategy, and more.

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  • The Senate rejected competing Democratic and Republican plans for avoiding a July 1st doubling of interest rates on federal college loans for 7.4 million students.
  • In federal district court, several Facebook Inc. investors alleged the company and its banking syndicate violated securities laws by inadequately disclosing information about Facebook’s prospective earnings.
  • Germany dismissed a French-led call for euro-zone governments to issue common bonds, a day before a European Union summit at which investors met to brainstorm solutions to the debt crisis.
  • The Consumer Financial Protection Bureau (CFPB) took the first steps in creating a consumer protection program for prepaid cards, soliciting public feedback on whether to impose on these cards the same regulations that protect consumer checking accounts.