The CFPB made waves yesterday by adopting a rule that would prohibit financial firms from forcing customers to arbitrate their disputes over bank and credit card accounts (and by allowing class actions on those same issues) – NYTimes and WSJ and Law360
Former Treasury official Randal Quarles is the White House’s pick for Fed vice chair of supervision—“perhaps the most powerful U.S. bank-regulatory post” – WSJ and Bloomberg and Law360
Can you feel it? We’re in the throes of Amazon’s Prime Day, and it’s not a low-stakes proposition – WSJ
At least one economist (and so far, it seems to just be the one) isn’t buying e-commerce as the retail job killer that most claim it to be. Rather Michael Mandel suggests that e-commerce is creating more (better-paying) jobs than are being lost in traditional brick and mortar retailers – NYTimes
Anticipating the Fed’s move to shrink its $4.5 trillion balance sheet, the Journal give us a five-things-to-watch feature on the Great Unwinding – WSJ
Elliott Mgmt, the biggest creditor to Oncor’s parent company Energy Future Holdings, is pushing hard for a non-Buffett bidder for the bankrupt Texas power giant – NYTimes and WSJ
After two months or so on the market, Abercrombie & Fitch is putting itself back on the hangar and ending talks to sell itself – NYTimes and WSJ
Baseball’s all-stars take to the field tonight in Miami. But for those in search of something a little more old school, this feature on town ball in Stearns County, MN should be right up your alley – StarTribune
We’re on (legal) assignment for the next few days and will see you back here bright and early Friday morning.