GOP TAKES AIM AT CONSUMER REGULATION
WASHINGTON» Republican lawmakers have overturned more than a dozen regulations issued under President Barack Obama. Now, they’re looking to do the same to a rule issued by the Consumer Financial Protection Bureau Monday that would let consumers band together to sue their banks or credit card companies rather than use a mediator to resolve a dispute.
The effort would be a first for this Republicanled Congress — overturning a rule issued during the presidency of Donald Trump.
Two GOP senators, Tom Cotton of Arkansas and Mike Crapo of Idaho, said Tuesday they intend to seek the repeal of the rule.
Prime Day deal battle.
Amazon’s competitors are offering their own deals during the online giant’s Prime Day promotion. As they’ve done before, many retailers including Macy’s, J.C. Penney and Kohl’s are offering incentives like free shipping and discounts.
Tesla adding service centers. DETROIT»
Electric car maker Tesla is adding 100 news service centers worldwide and hiring more than 1,000 technicians to meet expected demand for its new Model 3 sedan. The Model 3, cheaper than Tesla’s existing cars, goes on sale this month and is expected to attract hundreds of thousands of new customers to the brand.
Primewell recalling tires.
DETROIT» A company that distributes Primewell brand tires is recalling more than 394,000 Valera Touring II tires in the U.S. because the sidewalls can crack and lose air, increasing the risk of a crash. They were sold at Firestone stores.
Shareholders OK Cabela’s sale.
Cabela’s shareholders are giving a nod to the sale of the outdoor outfitter to rival Bass Pro Shops for roughly $4 billion. The Nebraska chain said Tuesday that shareholders approved a deal, announced in October, which will pay them $61.50 per share.
Trump sued for blocking critics on Twitter.
First Amendment advocates are suing President Donald Trump, saying it is unconstitutional to block his critics from following him on Twitter. The lawsuit says Twitter has become an important public forum for the president, and he frequently makes public announcements on his @realdonaldtrump account. — The Associated Press