Top 10 Articles
Private Attorneys General
In July, I posted about a federal regulation that had given some attorneys a way to loot the banking industry. The law required ATMs to advise users of transaction fees both through stickers and through on-screen or printed warnings—and it empowered consumers to sue for substantial damages if the stickers were missing. The law has now changed, and there may be no more such lawsuits.
Quick quiz: What is the purpose of an ATM?
A) To provide banks additional opportunities to profitably serve their customers.
B) To provide the federal government additional opportunities to make and enforce silly regulations.
Robert Jahoda, a blind man from Pennsylvania, is sole named plaintiff in a batch of lawsuits seeking to force banks to bring their ATMs into compliance with regulations on blind-accessibility issued under the Americans with Disabilities Act. That is, he's trying to make them spend a load of money making sure that if he and others like him want to use the banks' services, they can, even though the banks presumably don't think it's worth the expense -- or wouldn't, except they don't want to be sued.