September 26

FTC and 17 state AGs sue Amazon for illegal monopoly charges company suppresses competition

FTC Chair Lina Khan, joined by 17 state attorneys general, files a sweeping antitrust lawsuit against Amazon, alleging the company illegally maintains monopoly power in online retail through a web of interlocking anticompetitive tactics. The complaint alleges Amazon forces third-party sellers to use Amazon fulfillment services by threatening to demote their listings, suppresses rival online stores by penalizing sellers who offer lower prices elsewhere ("anti-discounting" enforcement), and exploits its dominance to charge inflated fees. The case marks the most notable antitrust action against Amazon in decades, alongside cases against Google, Apple, and Meta.

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Biden joins UAW picket line in Michigan first sitting president to do so

President Biden travels to Van Dyke, Michigan and joins United Auto Workers (UAW) strikers on the picket line, becoming the first sitting president in US history to join striking workers. The UAW's Stand Up Strike against the Detroit Three automakers (GM, Ford, Stellantis) had begun September 15, 2023. Biden delivers remarks to union members. He tells them "You deserve what you've earned... and you've earned a hell of a lot more than you're getting paid now." The visit is widely seen as support for the union against a backdrop of rising corporate profits and executive pay. Biden is accompanied by UAW President Shawn Fain but notably not by presidential candidate Donald Trump, who addressed non-union workers at a nearby event instead.

JPMorgan settles over Epstein-related banking violations

JPMorgan Chase agreed to a $290 million settlement after evidence showed the bank processed payments to young women on behalf of Jeffrey Epstein for five years after his 2008 sex-offender conviction. Internal compliance officers had flagged Epstein's account repeatedly but senior executives kept the relationship. The settlement resolved a lawsuit by Epstein victims represented by lawyers in the U.S. Virgin Islands.

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