The Washington Post reports: Congress is considering a freeze on the airline industry’s shrinking coach seats, an unprecedented move that could lead to a more comfortable and humane flying experience. A proposed amendment to the Federal Aviation Administration (FAA) Reauthorization Bill would direct the federal government to set minimum seat-size standards for the first time, […]
Author Archives: Allison Zieve
BBC News reports: HSBC has reached a $470m [] settlement with the US government and states related to dubious mortgage lending and foreclosure practices that contributed to the financial crisis. The agreement includes a $100m fine and $370m in consumer relief to borrowers. Investigations began in 2010 after HSBC was found to be signing off […]
Senator Patrick Leahy (VT) and Senator Al Franken (MN) introduced a bill Thursday that would strictly limit the companies' ability to impose arbitration clauses on consumers and workers. The Restoring Statutory Rights Act would prevent civil rights cases, employment disputes and other crucial lawsuits from being forced into arbitration. A New York Times article on […]
The Washington Post reports today that the food industry is pressuring Congress to block vermont' GMO-labeling law before it goes into effect in July. "The food industry wants Congress to pre-empt Vermont’s law and bar mandatory labeling of genetically modified foods before it goes into effect. They argue that GMOs, or genetically modified organisms, are […]
The Washington Post reports on two new airbag recalls: Automakers to recall 5M vehicles for another air bag problem Another problem has developed with automotive air bags, this one resulting in recalls of up to 5 million vehicles worldwide. Continental Automotive Systems says in documents filed with the U.S. government that moisture can get inside […]
The Consumer Financial Protection Bureau announced today: [CFPB] is taking steps to improve checking account access amidst Bureau concerns that consumers are being sidelined by the lack of account options and by inaccurate information used to screen potential customers. Today the CFPB sent a letter to the 25 largest retail banks encouraging them to make […]
According to the Federal Deposit Insurance Corporation, Morgan Stanley has agreed to pay $62.95 million to resolve claims over the sale of toxic mortgage-backed securities to three banks that later failed. The FDIC is acting as the receiver for the failed banks. The settlement brings the total amount of FDIC settlements with Morgan Stanley over […]
The Consumer Financial Protection Bureau has released its latest monthly consumer complaint snapshot, highlighting consumer complaints about financial services such as debt settlement, check cashing, money orders, and credit repair. The report shows that consumer complaints about these types of financial services generally revolve around issues of fraud or problems with reliable customer service. It […]
The Federal Trade Commission press release explains: For the first time, identity theft victims can now go online and get a free, personalized identity theft recovery plan as a result of significant enhancements to the Federal Trade Commission’s IdentityTheft.gov website. The new one-stop website is integrated with the FTC’s consumer complaint system, allowing consumers who […]
Consumer Reports released this week a survey of consumers understanding of "natural" on food labels. The report found that almost two-thirds of consumers are misled by foods labeled as “natural.” Of 1,005 adults polled in December, more than half incorrectly believed that natural claims on labels had been independently verified, and nearly two-thirds thought the […]