The New York Times reports: The U.S. government's review of a landmark 2010 financial reform law will not be complete by early June as originally targeted, and officials will now report findings piece-by-piece, with priority given to banking regulations, sources familiar with the matter said on Monday. President Donald Trump has pledged to do a […]
Author Archives: Allison Zieve
Yesterday on HBO's Last Week Tonight with John Oliver, Oliver explained net neutrality and encouraged people to urge the FCC not to undo the 2016 rule by visiting www.gofccyourself.com. The site takes a minute or so to open, so be patient if you want to comment. Then click "Express" on the right-hand side of the […]
Consumer Reports announced today that Jessica Rich, former director of the Federal Trade Commission’s Bureau of Consumer Protection, has joined the organization as Vice President of Consumer Policy and Mobilization. Consumer Reports' press release is here.
The Washington Post reports: Republicans who eagerly awaited a GOP president so they could take a heavy knife to many of the regulatory requirements for banks, insurers and other financial institutions finally get their chance. The House Financial Services Committee, led by Texas Rep. Jeb Hensarling, is slated to begin work Tuesday on legislation to […]
The Consumer Financial Protection Bureau today filed suit against four online lenders – Golden Valley Lending, Inc., Silver Cloud Financial, Inc., Mountain Summit Financial, Inc., and Majestic Lake Financial, Inc. – for deceiving consumers by collecting debt they were not legally owed. The CFPB alleges that the four lenders could not legally collect on these […]
The Federal Communications Commission has begun the process to rollback net neutrality regulations. NPR has the story. For the perspective of the inventor if the World Wide Web, Consumerist has this article.
The Consumer Financial Protection Bureau released today a monthly complaint report highlighting consumer complaints about student loans. The report shows that both private and federal student loan borrowers nationwide report persistent servicing breakdowns that may sideline their path to repayment. The report also highlights trends seen in complaints coming from Nevada. The CFPB notes that, […]
Washington Post columnist MIchelle Singletary warns: "If you use a prepaid card — and millions of you do — take heed, because there’s an effort in Congress to block new rules that would give you the kind of federal protections afforded to debit and credit card users. Her full column is here.
The Washington Post reports: Eager not to be the next Wells Fargo, some other big banks say they are examining their own practices against the board report and actively looking for ways to avoid any sales issues before becoming engulfed in a similar kind of scandal. … Wells had by far the most aggressive sales […]
In 2016, the CFPB issued a rule addressing prepaid cards, which are cards that work like debit cards but are not associated with a bank account. Prepaid cards include but are not limited to what we think of as gift cards; some employers pay their workers with prepaid cards. As the Senate is set to […]