Cancellation practices: The Federal Trade Commission sued LA Fitness over the gym chain’s allegedly onerous cancellation practices, the latest in a series of government cases accusing companies of making it difficult for consumers to end subscriptions. In a complaint filed Wednesday in federal court in Los Angeles, the FTC said LA Fitness, operated by Fitness International LLC and Fitness & Sports Club LLC, maintained complicated cancellation practices that allowed the 600-gym chain to continue collecting hundreds of millions of dollars from customers who would have otherwise left. Read more from Bloomberg. A subscription may be required.
Pressure from Trump: President Donald Trump on Wednesday called on Federal Reserve governor Lisa Cook to resign after a member of his administration accused Cook of committing mortgage fraud, the latest example of the Trump administration’s efforts to gain control over the central bank. Bill Pulte, director of the agency that oversees mortgage giants Fannie Mae and Freddie Mac, urged the Justice Department to investigate Cook, whose term lasts until 2038, the longest remaining term among the seven governors. Read more from the AP.
Staggering numbers: The median cost of sending one child to day care for five years is about $44,000 across the U.S., according to a Wall Street Journal analysis of Labor Department data. In 26 counties, the median cost for five years of day care is more than $100,000. Across the Capital Region, parents can expect to pay between $34,000 and $43,000 until kindergarten. See more from The Wall Street Journal.
