Getting a new iPhone battery is often a frustrating, weeks-long process

Some people across the country are reporting that they are having a tough time getting iPhone batteries replaced through Apple's replacement program, which was launched after the company admitted that it slows down phones with older batteries to preserve the phones' performance.

From Silicon Valley to Washington, from Detroit to Atlanta, people are sharing stories of long waits, dropped customer service calls and hard-to-get appointments.

“I’ve lost confidence in this rarefied company,” David Cohen, a former newspaper publisher from San Jose, said in an email to The Washington Post. “I’m disappointed in them. As far as I’m concerned they should have recalled the phones and replaced all the batteries for free.”

Cohen said he was initially told, more than a month ago, that there were no batteries for his two-year-old iPhone 6. He placed an order for a new battery and was told that delivery might take several weeks. He still doesn't have his battery.

Others have said it has taken weeks to land even an appointment. And for some who were able to get through to someone, there aren't batteries available. One man told the Chicago Tribune in February that he was told to come in after a two-week wait for his battery appointment, only to be told that there were no batteries. Post columnist Geoffrey A. Fowler wrote on Twitter last month that one store in the Bay Area told him that stock levels might not be back to normal until the summer. read more »

SEC, CFTC Record Whistleblower Award Is A Big Win For Consumers, Investors

Why are these record awards good news for consumers and investors? First, the fact that record whistleblower awards are coming out of Washington is strong confirmation that fears our federal regulatory agencies would cease to vigorously enforce the laws are overblown—at least with respect to the financial markets.

While the SEC and CFTC whistleblower programs came into being under the 2010 Dodd Frank Act and recently threats to gut certain provisions of the Act have surfaced, it appears that no one on the right, or left, is interested in meddling with these high-successful and broadly popular programs.

The SEC and CFTC whistleblower programs are very much alive and working, the agencies have not backed away from them, and the highest awards in history are being announced.

That’s great news for whistleblowers. The risks related to reporting wrongdoing are more manageable than ever and the potential rewards greater. read more »

Venezuela's new bitcoin: an ingenious plan or worthless cryptocurrency?

Some analysts see the ‘petro’ as a desperate move to secure cash amid an economic meltdown brought about by President Nicolás Maduro’s policies

Is Venezuela’s new cryptocurrency an ingenious plan to evade U.S. sanctions? Or will it turn out to be a South American shitcoin? read more »

Latvia’s top banking official has been accused of taking a bribe

Claims of money laundering and corruption stain Latvia’s banking system

Ilmars Rimsevics, governor of Latvia’s central bank for the past 17 years, had been due to retire next year. Instead, he is facing calls to resign. On February 17th he was detained by Latvia’s anti-corruption authority on suspicion of taking a bribe of at least €100,000 ($123,000). The prime minister, Maris Kucinskis, says the allegations are so serious that Mr Rimsevics cannot possibly return to work. Mr Rimsevics, for his part, is staying put. Released on bail on February 19th, he denies the allegations, saying he was set up and is facing death threats.

Just a few days earlier, in an unrelated case, the US Treasury had proposed sanctions on ABLV, one of Latvia’s largest banks. It claimed ABLV had “institutionalised money laundering” and facilitated transactions with North Korea, which is under sanctions. In the days that followed €600m was withdrawn by the bank’s customers. On February 19th, seeking to stabilise the institution, the European Central Bank (ECB) froze payments by ABLV. Latvians with accounts at the bank have had their debit cards cut off. read more »