Discussing a resolution introduced by two Republican Congressmen to kill the CFPB's arbitration rule, Washington Post columnist Catherine Rampell observes: "For some reason, though, the idea of giving consumers the choice to participate in a court of law — a right enshrined in the Seventh Amendment — leaves some GOP legislators quaking in their loafers." […]
Author Archives: Allison Zieve
The White House has withdrawn or removed from active consideration more than 800 regulations proposed during the Obama administration. Among the regulations are auto safety protections, environmental protections, worker protections, and a range of others. A New York Times article is here. Public Citizen's reaction is here. The list of remaining rules under consideration and […]
The New York Times reports: Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing. The troubled loans, which total at least $5 billion, are at the center of a protracted […]
The Washington Post reports: Wells Fargo has received preliminary approval to pay out $142 million to customers affected by the bank’s sales practices scandal. A federal judge gave preliminary approval Saturday to the deal that would settle claims over fraudulent accounts going back to 2002. The San Francisco-based bank and lawyers for customers reached the […]
I try not to use the blog to tout Public Citizen's own work, but nonetheless want to provide two updates on our work to maintain protections for student borrowers in the face of a Department of Education no longer interested in doing so: First, on Friday, Public Citizen and Harvard's Project on Predatory Student Lending […]
Yesterday, the Federal Trade Commission announced two actions potentially of interest to readers: The FTC announced that it halted an operation that unlawfully shared and sold consumers' sensitive data. The operators of a lead generation business agreed to settle charges brought by the FTC that the company misled consumers into filling out loan applications and […]
June 26, 2017 – Owner of New England Compounding Center Sentenced for Racketeering Leading to Nationwide Fungal Meningitis Outbreak June 22, 2017 – Pharmacy Owner and Director of Compliance Charged with Defrauding United States and Distributing Adulterated Drugs June 15, 2017 – Department of Justice Observes World Elder Abuse Awareness Day June 15, 2017 – […]
Still at work, the Consumer Financial Protection Bureau today filed two complaints and proposed final judgments in federal court against four California-based credit repair companies and three individuals for misleading consumers and charging illegal fees. The CFPB alleges that the companies charged illegal advance fees for credit repair services, and also misrepresented their ability to […]
Each year, roughly three dozen children die of heatstroke in unattended vehicles. Yesterday, three congressmen and a coalition of safety groups announced proposed legislation to require alerts in cars as a reminder that there may still be a child in the back. FairWarning has the story. The Alliance of Automobile Manufacturers said it would review […]
American Banker reports: The House Financial Services Committee is threatening to file contempt charges against Consumer Financial Protection Bureau Director Richard Cordray for allegedly lying about the bureau's investigation into the Wells Fargo scandal. In a 15-page report released Tuesday by Republican staff, the committee claimed that the CFPB has not produced records showing that […]