U.S. Department of Commerce
U.S. Government: Agencies/Departments/Divisions | Cabinet-Level Federal Department
Recent News About U.S. Department of Commerce
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The Consumer Federation of America (CFA), a non-profit organization dedicated to advancing consumer interests, has published a report suggesting that drivers with low incomes often pay more for car insurance. Authored by Douglas Heller, the CFA's Director of Insurance, and Michael DeLong, a Research and Advocacy Associate, the report was released in 2023.
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David Williams, president of the Taxpayers Protection Alliance (TPA), a non-profit organization dedicated to analyzing the government's impact on the economy, has raised concerns about third-party investors backing mass tort lawsuits while remaining anonymous. According to Williams, this practice will continue to cost the American public money until policymakers change regulations.
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The U.S. Chamber of Commerce Institute for Legal Reform (ILR) has released a report detailing the rise in commercial tort costs for American businesses, revealing that these escalating costs disproportionately affect small businesses.
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Recent reports suggest that consumers spend billions of dollars in transaction fees when they use credit cards for shopping. The U.S. Senate is currently considering the Credit Card Competition Act (CCCA), a bipartisan proposal sponsored by Sens. Dick Durbin (D-Ill), Peter Welch (D-Vt.), Roger Marshall (R-Kan.), and JD Vance (R-Ohio). This proposed legislation aims to require banks to foster competition among credit card processing networks, with the ultimate goal of creating more competition and reducing swipe fees for consumers and small businesses.
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Microsoft and Vodafone have embarked on a decade-long partnership aimed at delivering digital services and generative artificial intelligence (AI) to over 300 million consumers and various businesses across Europe and Africa.
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The Retail Industry Leaders Association (RILA) and Optera have entered into a strategic partnership aimed at developing a tool for scope 3, Category 11 Use of Sold Products emissions reporting. As part of this collaboration, Optera, a provider of carbon management software, will be responsible for creating and managing the Direct-Use Product Emissions Database (DPED).
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The Consumer Financial Protection Bureau (CFPB) has put forth a proposed rule aimed at large banks' overdraft fees and overdraft protection loans. This proposal has drawn criticism from Rob Nichols, President and CEO of the American Bankers Association (ABA), who views it as an attempt to "demonize and mischaracterize" fees that are already sufficiently regulated and appropriately disclosed.
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The United States' standing as a globally competitive travel market has significantly declined due to years of underinvestment and lack of coordination from the federal government, according to the U.S. Travel Association. A recent study conducted by the association places the country 17th out of 18 leading travel markets.
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The U.S. Securities and Exchange Commission (SEC) has accused Morgan Stanley and its former executive, Pawan Passi, of fraud in block trading businesses. The company has agreed to pay over $249 million to settle the fraud charges as well as for failing to enforce information barriers.
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The Department of Commerce and Microchip Technology Inc. have finalized an agreement to allocate $162 million in federal incentives from the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act. The objective is to bolster America's supply chain by increasing the production of semiconductors within the country.
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The American Civil Liberties Union (ACLU) has publicly thanked the congressional members responsible for introducing the Affordable Connectivity Program (ACP) Extension Act. This proposed legislation would allocate $7 billion to the ACP, a program that currently provides discounted high-speed Internet access to over 22 million households.
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The National Foreign Trade Council recently launched the Alliance for National Security and Competitiveness to mitigate risks associated with international supply chain security. The move underscores the importance of supply chain stability in bolstering America's economic strength.
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In 2023, the United States saw a surge in investment and funding opportunities that brought significant success to its businesses and workers. These investments played a crucial role in creating well-paid jobs and maintaining the competitiveness of American jobs.
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The majority of leading U.S. corporations publicly disclose their citizenship activities, yet there is a significant number that do not. Furthermore, those that do report could enhance the quality of their reporting. These findings are part of a recent study by The Conference Board, which delves into who is reporting, the significance of such reporting and strategies for enhancing what is reported.
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The Humane Society of the United States (HSUS) has lauded the full implementation of California’s Proposition 12. This ballot measure, approved in 2018, enforces stringent restrictions on food products derived from animals kept in cruel confinement.
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The U.S. Department of Commerce has disclosed in a report that the U.S. Outdoor Recreation Economy amassed over $1 trillion during 2022, reflecting an upward trend in expenditure on hotels, restaurants, and transportation.
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The Semiconductor Industry Association (SIA) has expressed approval for the initial semiconductor manufacturing incentives introduced by the U.S. Department of Commerce, as part of the CHIPS and Science Act. The association indicated that the legislation has already spurred investment and anticipates further projects to commence soon.
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Prior to the discussion of U.S. Ocean Innovation at the Conference of Parties for the United Nations Framework Convention (COP), the Under Secretary of Commerce for Oceans and Atmosphere penned a blog elaborating on the impact that the "Blue Economy" has on the United States and its citizens. The convention is aimed at addressing climate change.
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Blue Star Families, the largest national non-profit dedicated to supporting military families, has joined forces with the Hiring Our Heroes Program to combat high unemployment rates among military spouses. The Hiring Our Heroes Program is a renowned initiative that assists transitioning service members in finding meaningful careers.
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Recently, American Airlines and Southwest Airlines have voiced strong opposition to the Credit Card Competition Act of 2023 (S. 1838). The two industry leaders have raised concerns that the proposed legislation could significantly limit cardmembers' ability to earn travel rewards, thereby potentially disrupting key aspects of airline business models.