Two major U.S. grocery chains, Kroger and Albertsons, are seeking the green light from the Federal Trade Commission to merge their companies. Critics have said the deal would form the largest grocery chain in the nation -- second only to Walmart, shrink the power of suppliers and workers, and drive more independent grocers out of business.
Farmer and consumer advocacy groups recently wrote a letter to the Federal Trade Commission, urging the agency to block the consolidation.
Aaron Johnson, corporate power program manager, Rural Advancement Foundation International-USA, said it's increasingly difficult for local and regional producers, small food processors, and small meatpacking plants, to get their products onto shelves in front of consumers.
"When these grocery firms combined into these really, really large companies, a big thing that they do is they really centralize how they source the products that are going into the shelf, it becomes much more difficult for local and regional producers to get access to that retail shelf space," Johnson said.
Kroger argued in a press release its acquisition of the Idaho-based chain will expand customer reach and improve access to affordable food to approximately 85-million households. The FTC is expected to make a decision on the sale sometime next year.
Johnson says Kroger and Albertsons are part of an alarming trend of consolidation within food, retail and wholesale industries over the past few decades.
"And so, right now, the top four grocery corporations capture almost two thirds of consumer food sales," Johnson said.
He said predatory pricing and other tactics used by major players have resulted in more local producers, especially organic growers, losing wholesale contracts.
"All that has implications on rural economies on the number of people who can viably start a farm who can put down roots in rural communities and be a part of those communities be buying from other businesses," he said.
Between 1994 and 2019, the overall number of grocery stores nationwide declined by 30%, according to Food and Water Watch.
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FBI data show North Dakotans lost nearly $6 million to cryptocurrency scams in 2023 and a bill advancing in the Legislature would try to limit those losses by adding safeguards to a financial trend with little oversight.
The measure, overwhelmingly approved by the House this week, would require operators of crypto kiosks to be licensed. Experts said the kiosks, which look similar to a traditional ATM, are used to convert real cash to virtual money like Bitcoin but they also can serve as a vehicle for fraud.
Rep. Ben Koppelman, R-West Fargo, said someone might pose as a law enforcement officer, warning a person about suspicious activity with the funds in their bank account.
"They suggest depositing it in this kiosk and, of course, it goes to the fraudster's account and it's tough to get that money back," Koppelman explained.
One of the other provisions stated receipts would need to be provided so law enforcement agencies have a paper trail to work with in the event of a scam. Koppelman pointed out compromises were added in response to concerns from cryptocurrency industry groups, including language dealing with daily transaction limits.
Jacob Rued, fraud investigator for First Western Bank in Minot, told lawmakers at a hearing earlier in the session, people who are taken advantage of often have little to no knowledge of how crypto transactions work.
"Their trust in the kiosk (is) often based on the false and manipulated idea that because this kiosk is real, and, 'I can physically interact with it in my community, that must mean that it has been vetted,'" Rued noted.
Experts said unlike mainstream banking, virtual currency is decentralized and regulation has been slow to catch up. Groups such as AARP also testified in support of the bill, noting the effect the activity has had on older adults at risk of losing their life savings. Watchdogs said younger generations, too, are targeted for this type of fraud.
The measure now heads to the Senate.
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Some New York members of Congress are trying to repeal bank overdraft fee regulations.
The Consumer Financial Protection Bureau created a rule capping account overdraft fees at $5, which the agency estimates could save people nationwide $5 billion.
But a bill coming up for a vote in the U.S. House this week would repeal it, allowing banks to charge up to $35 for these fees.
Rebecca Garrard, interim co-executive director of Citizen Action of New York, said overdraft fees often harm those who can least afford them.
"It's devastating," said Garrard, "and it contributes to debt that people are unable to remove themselves from, and exacerbates a crisis of poverty and affordability that's already problematic."
Though some New York U.S. Representatives, like Rep. Dan Goldman, D-Manhattan, favor maintaining the overdraft fee limitations, others, like Rep. Mike Lawler, R-Pearl River, are under pressure to end these protections.
New York is among the states that have also addressed this issue. In 2022, the Department of Financial Services developed a rule reducing or eliminating some of the fees banks can charge.
The bill is seen as one of many moves to undermine the CFPB. The agency's acting director, Russell Vought, implemented a stop work order and numerous employees were laid off - until a federal judge blocked the layoffs.
Christine Chen Zinner, senior policy counsel for Americans for Financial Reform, said the stop work order is a green light for financial companies to defraud and gouge customers.
"I mean, every corporate bad actor in finance has a free pass from the Trump administration to make life more expensive and less fair for families all over the country," Zinner observed.
A CFPB report finds 81% of households that frequently incur overdraft fees had difficulty paying bills in the last year.
A 2024 Data for Progress poll finds voters across the political spectrum approve of the agency's mission, although most aren't fully aware of its role.
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This session, Minnesota lawmakers are expected to take a strong look at preventing more fraud attempts against state government. Meanwhile, consumer advocates hope they do not forget about separate scams increasingly targeting everyday citizens.
Organizations such as AARP said consumer fraud has reached a crisis point, with federal data showing U.S. consumers reported losing more than $10 billion to fraud in 2023, a record high.
Cathy McLeer, state director of AARP Minnesota, said in a digital world, it is getting harder for authorities to clamp down on the threats and give people an avenue to recoup what they lost.
"In many cases, these are bad actors who are overseas," McLeer explained. "You can't track them down. And it's very, very difficult for anyone who has been defrauded to get even some of those resources back."
McLeer pointed out such situations can be especially harder on older adults because their life savings can quickly evaporate.
A proposed bill would create a state-managed restitution fund, where proceeds from civil penalties would be redirected and awarded to fraud victims having trouble getting their money back. The bill is sponsored by lawmakers in both parties but it is unclear whether it will gain traction amid other priorities.
A key provision in the bill said Minnesota's attorney general has to bring a case against the scammers and obtain a court order. McLeer argued the extra tool might prompt more people falling prey to fraud to speak up.
"We also know that so much fraud is underreported," McLeer observed. "We believe that having a Consumer Fraud Restitution Fund would provide the incentive for more individuals to report financial crimes, frauds and scams when they happen."
A handful of other states have created similar funds, including North Dakota in 2023. Meanwhile, AARP Minnesota will host an online discussion on the topic Thursday at 10 a.m. CT. The public is invited to take part.
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