FDA backs off graphic warnings labels on cigarettes, CFPB warns banks on indirect auto lending, and more.
- The Food and Drug Administration (FDA) abandoned plans to place large, shocking warning labels on cigarettes and other tobacco products, in light of ongoing legal challenges. See related The Regulatory Review essay.
- The FDA requested comments and information about the tobacco industry and its manufacturing.
- The Health and Human Services Department (HHS), Internal Revenue Service (IRS), and Employee Benefits Security Administration (EBSA) proposed a rule prohibiting 90-day waiting periods for group health plans and group insurance coverage.
- A commissioner at the Commodity Futures Trading Commission (CFTC) revealed that the agency is struggling to process the massive amount of data it is receiving due to the implementation of the Dodd-Frank Act.
- The REINS Act, originally introduced in 2011 and designed to give Congress veto power over major federal rulemaking, was sent to the full House Judiciary Committee.
- The Government Accountability Office (GAO) released a report exploring the causes of several troubling failures at community banks across the country.
- Media sources reported that the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) are investigating allegations that Microsoft employees may have bribed overseas officials.
- Doctors wrote a letter to the FDA asking for the regulation highly-caffeinated energy drinks.