05/13/21
LEAD STORY
We re in the midst of commencement season, and the Class of 2021 is ready to make its mark. In Washington, without much pomp or circumstance, Congress took action on a number of initiatives designed to affect change across the nation and among a number of disciplines. We take a closer look at some of the parchment papers crossing their stages this week.
SECURE YOUR FUTURE
The House Ways and Means Committee passed H.R. 2954,
the Securing a Strong Retirement Act of 2021, dubbed the “Secure Act 2.0.”Among a number of other provisions, the bill raises the required minimum distribution age from 72 to 75, expands automatic enrollment in retirement plans, and enhances 403(b) plans. The bill now moves to the full House. Supporters of the legislation cite that the COVID-19 pandemic exacerbated our nation s “
Peloton
Peloton recalled its two treadmills on Wednesday, following regulator and consumer group pressure.
Product safety and legal experts say Peloton is likely to face lasting reputational damage.
Others say the company is likely to prevail, thanks to its rabid fanbase and flagship bikes.
Peloton is facing its second major recall in less than a year.
The company issued a voluntary recall of all treadmill models on Wednesday, after a child was fatally injured and the US Consumer Product Safety Commission found 38 other individuals were harmed in incidents involving Tread+ machines.
In a statement, Peloton said that customers who have purchased a treadmill should immediately stop using it and contact Peloton for a full refund or other qualified remedy. Shares of the company fell by nearly 15% by the end of trading Wednesday.
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During the Trump administration, the number of consumer product safety recalls fell for three years in a row. When Robert Adler became Acting Chair of the U.S. Consumer Product Safety Commission (CPSC) in 2019, he compared his role to that of a caretaker. Now, under the Biden administration, the CPSC is undergoing a shift toward increased regulation and more aggressive enforcement. Acting Chair Adler confirmed the same earlier this year, stating that the Biden administration “clearly views product safety in different terms,” and that he “plan[s] to modify [his] job’s metaphor from caretaker to gardener.”
LARA
Required Posting of Recalled or Unsafe Children s Product List
The Children s Product Safety Act (2000 PA 219) requires the department to maintain a comprehensive list of unsafe or recalled children s products (includes, but is not limited to, cribs, toddler beds, car seats, high chairs, booster chairs, bath seats, gates, carriers, strollers, walkers, infant swings, etc.).
In addition, this act prohibits child care providers from using a children s product that is unsafe or that has been recalled. It further requires child care providers to conspicuously post on the premises an updated copy of the list of recalled products provided by the department. A conspicuous place means a location where parents, staff and others can easily see it.
Peloton
A class action lawsuit has been filed against Peloton for a spate of injuries tied to Tread Plus.
Lobbyists and lawmakers are urging the company to recall the treadmill after it refused last week.
The suit says Peloton has known, or should have known, of the defective nature of the Tread Plus.
As Peloton deals with mounting criticism over its refusal to recall its Tread+, the fitness company now faces a class-action lawsuit from unhappy customers.
According to the suit filed on April 20, lead plaintiff Shannon Albright alleges Peloton violated consumer protection laws and that Peloton has known, or should have known, of the defective nature of its Tread+ product. It further states the company sold and marketed the device as safe and appropriate for use by families in the home, even though its design makes it inherently and uniquely dangerous to children.