The Washington Post has two articles today about regulation (or lack of regulation) of sharing services like Uber and Airbnb. In an article entitled "Uber might actually want regulation. Here’s why," the Post reports: Though they are loath to admit it, ridesharing outfits like Uber and Lyft have profited in no small part from dodging […]
Author Archives: Allison Zieve
The New York Times reports today: The New York State attorney general’s office accused four major retailers on Monday of selling fraudulent and potentially dangerous herbal supplements and demanded that they remove the products from their shelves. The authorities said they had conducted tests on top-selling store brands of herbal supplements at four national retailers […]
"Troubled by consumer complaints and loopholes in state laws, federal regulators are putting together the first rules on payday loans aimed at helping cash-strapped borrowers avoid falling into a cycle of high-rate debt," the New York Times reports this morning. Read "Rules Are Coming on Payday Loans to Shield Borrowers," here.
car title loans are marketed as small emergency loans, but in reality these loans trap borrowers in a cycle of debt. A typical car title loan has a triple-digit annual interest rate, requires repayment within one month, and is made for much less than the value of the car. – See more at: http://www.responsiblelending.org/other-consumer-loans/car-title-loans/tools-resources/what-are-car-title-loans.html#sthash.iYj0Yw6y.dpuf car […]
Here are recent announcements relating to the work of the Department of Justice's Consumer Protection Branch: January 27, 2015 Peruvian Man Sentenced for Defrauding and Extorting Spanish-Speaking U.S. Residents through Fraudulent Call Centers January 21, 2015 United States Files Enforcement Action against Texas Debt Collection Company, Current President and Former Vice President to Stop Deceptive […]
Even when names and other personal information have been stripped from big data sets, as few as four pieces of random information may be enough to identify a specific person, according to a study to be published soon in the journal Science. The magazine explains: [The scientists] analyzed 3 months of credit card transactions, chronicling […]
The Consumer Financial Protection Bureau yesterday proposed changes to its mortgage rules "to facilitate responsible lending by small creditors, particularly in rural and underserved areas," according to the CFPB press release. If finalized, the rule will increase the number of financial institutions able to offer certain types of mortgages in rural and underserved areas. The […]
From Politico: The White House is preparing to send a sweeping online privacy proposal to Congress that would restrict how companies like Google and Facebook handle consumer data while greatly expanding the power of the Federal Trade Commission to police abuses — ideas that are likely to incite strong opposition in Congress. The forthcoming measure […]
News outlets have covered the prospect of legislation to weaken the Consumer Financial Protection Bureau and undo reforms of the Dodd-Frank Wall Street Reform and Consumer Protection Act. See, for example, here, here, and here. The new Congress, however, is also considering a variety of other bills that would impact consumer protection. The National Consumer […]
The Hill reports: College students would be protected from dubious credit card, debit card and checking account offers under new recommendations from the Obama administration’s top consumer watchdog. The Consumer Financial Protection Bureau (CFPB) is considering new guidelines to help colleges in selecting banks to partner with and offer financial services to their students. The […]