Reports

Federal Reserve Members Threaten More “‘Pain’” For Working Families As Top Economic Experts And Other Prominent Voices Warn Interest Rate Hikes Could Backfire

Economic Security and Corporate Power
November 10, 2022

The Federal Open Markets Committee (FOMC), the Federal Reserve body which determines interest rates, was expected to continue hiking rates in November and December 2022 despite warnings that doing so would cause a recession and add as many as 3.2 million people to unemployment lines by the end of 2023.

Reports

Kroger And Albertsons Claim Merger Would Lower Prices, Contradicting Their Pandemic Price Hikes, Soaring Profits, And Shareholder Payouts

Economic Security and Corporate Power
November 2, 2022

On October 14, 2022, “grocery giant” Kroger announced plans to buy Albertsons Companies for $24.6 billion, threatening to create a “corporate behemoth” second only to Walmart in grocery industry market share. If the two companies successfully combine, they would control nearly 5,000 stores reaching about 85 million households across the U.S.

Reports

Corporate America Poised To Avoid The Inflation Reduction Act’s New Stock Buyback Tax, Already Announcing $1.5 Billion In Accelerated Share Repurchase Programs To Dodge Roughly $15 Million In New Taxes

Economic Security and Corporate Power
October 17, 2022

Immediately after the Inflation Reduction Act (IRA) was signed into law on August 16, 2022, corporate America was already eyeing accelerated share repurchase (ASR) programs as a way to rush their stock buybacks before the IRA’s new 1% on the transactions becomes effective after December 31, 2022.

Memos

Behind The Financial Industry’s Rhetoric That Overdraft Fees “Save Customers Money” Is A Much Costlier Reality For Consumers

Economic Security and Corporate Power
September 21, 2022

In January 2022, the Consumer Financial Protection Bureau (CFPB) launched an initiative to save consumers billions of dollars in exploitative “junk fees,” including overdraft fees. In 2019 alone, large banks earned approximately $15.47 billion from overdraft and non-sufficient funds fees.

Reports

Shady Multi-Level Marketing and Direct Selling Companies Received $100M in PPP Funds Despite False Claims About COVID-19 Treatments, History of Deceptive Marketing

Economic Security and Corporate Power
January 19, 2021

While hundreds of thousands of small businesses have closed across the country, direct selling companies – which frequently utilize predatory multi-level marketing practices – received over $106.4 million in PPP loans.

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