Search Results for citation:"86 FR 8910"

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Search Results: citation:"86 FR 8910"

  • Type:Notice
    Citation:86 FR 8910
    Reading Time:about 16 minutes

    The Federal Trade Commission (FTC) has proposed a consent agreement with Amazon regarding allegations of misappropriated driver tips through its Amazon Flex program. Between late 2016 and August 2019, Amazon allegedly withheld nearly a third of tips that customers intended for drivers, amounting to approximately $61 million, despite claiming to pass 100% of tips to drivers. The agreement requires Amazon to pay back the full amount withheld and prohibits the company from changing its tipping practices without driver consent. The proposal is open for public comments until March 12, 2021, before final approval by the FTC.

    Simple Explanation

    Amazon was told by the FTC that they took money from driver tips that was supposed to go to the drivers, and now Amazon has to give all the tip money back and promise to not do it again.

  • Type:Notice
    Citation:86 FR 8910
    Reading Time:about a minute or two

    The Federal Reserve System has received applications from individuals who want to acquire shares of a bank or bank holding company under the Change in Bank Control Act. These applications are public and can be inspected at specific Federal Reserve Banks or the Board of Governors' offices. The public can submit comments on these applications by February 25, 2021, to the addresses provided, including electronic submissions. One application involves Jeremy Francis Gilpin and Jeffrey Alan Smith seeking to acquire shares as a group in Community Bankshares, Inc., and its subsidiaries in Georgia and Alabama.

    Simple Explanation

    The Federal Reserve got a request from some people who want to buy parts of a bank to help it grow, and they are letting everyone know so people can say what they think by a certain date.