The statehouse moves came after a rash of recalls of toys, especially those made in China, last year. The Journal writes that compliance will be tougher for smaller manufacturers.

Sticking it to the poor students

The NYT’s article on lenders cutting back student loans to two-year colleges and “less selective” four-year schools is having an impact already, the paper reports on C1.

Two Democratic senators introduced legislation that would ban the practice, but some say it will just push more lenders out of the business.

Here’s the You’re Telling Me! Quote of the Day:

“Banks are not philanthropic agencies,” said Pat Watkins, director of financial aid at Eckerd College in St. Petersburg, Fla. The institution was recently informed by Wells Fargo that the bank would not extend loans to its students anymore, Dr. Watkins said.

Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu.