Your Daily Dose of Financial News

Robins Kaplan LLP

Jobs Report Friday!  Here’s what to watch as you check out the numbers – WSJ and Bloomberg

A sobering look at the post-recession economic recovery shows that while by many measures US economic figures are again strong, the recession caused wounds that “have not fully healed”—including the loss of more than 1.5 million workers from the workforce – NYTimes

Former Equifax CEO Richard Smith took it on the chin again yesterday, this time while testifying before the House Financial Services Committee—his fourth Congressional hearing in 3 days – WSJ and Bloomberg and Law360

Even as deregulation takes root throughout huge swaths of the financial sector, the CFPB is clamping down on payday loans with regulations unveiled yesterday that limit how often and how much customers can borrow. Industry officials have already promised lawsuits to block the rules from taking effect in 2019, as scheduled – NYTimes and WSJ and Marketplace and Law360

The CFPB, for its own part, has been warned to keep a better eye on its own handling of consumers’ personal data – Law360

Amazon’s thinking about making the most of its already ubiquitous boxy white delivery trucks by taking a run at FedEx and UPS – Bloomberg

Speaking of the ‘zon, the Journal reviews Jeff Bezos’ vast real estate holdings for possible clues about Amazon’s ultimate HQ2 choice – WSJ

We talked Navient yesterday, and we weren’t the only ones. Pennsylvania’s AG also chose Thursday to file suit against Navient accusing it of “unscrupulous conduct” in both originating private student loans and servicing private and federal loans – Law360

Here’s a new one for you: IMFcoin [?]. Streetwise considers the possibility of the International Monetary Fund putting its special drawing rights (“SDRs”) to use in a digital form. Global monetary enthusiasts can get in the weeds via the link – WSJ

Chalk one up for the Finns.  While the pesky cause/effect details have yet to be established, a new study published in the American Journal of Hypertension suggests that regular sauna sessions could have significant heart benefits – NYTimes

Have a good weekend.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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