The Federal Trade Commission announced: Medicare Card Scheme Took Money from Seniors’ Bank Accounts A group of scammers who falsely promised consumers new Medicare cards in order to obtain their bank account numbers and debit their accounts will be banned from selling healthcare-related products and services under settlements with the Federal Trade Commission. The settlements […]
Author Archives: Allison Zieve
The Wall Street Journal explains: Time and again, consumer ads claim a medicine is the number one drug prescribed by physicians. Putting aside the question of whether such boasting is actually true, what remains unclear is the extent to which consumers view such information positively or as a substitute for effectiveness data. And so, the […]
From the Consumer Financial Protection Bureau's press release: Discover’s Illegal Servicing Practices Affected Private Student Loan Borrowers Transferred from Citibank Today the Consumer Financial Protection Bureau (CFPB) took action against Discover Bank and its affiliates for illegal private student loan servicing practices. The CFPB found that Discover overstated the minimum amounts due on billing statements […]
We posted earlier today on the final rule issued today by the Department of Defense to protect service members from predatory lending. See here and here. The final rule is here. The DoD statement is here. The Consumer Financial Protection Bureau, one of the agencies charged with enforcing the Military Lending Act, issued a supportive […]
Public Citizen is also speaking today about the fifth anniversary of the Dodd-Frank Act: On the fifth anniversary of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, key provisions of the law still have not been implemented or are inadequately enforced, a new Public Citizen report (PDF) shows. The report, “Dodd […]
The Hill reports today: President Obama on Tuesday will unveil new rules designed to protect service members and their families from predatory lenders. In his speech to the Veterans of Foreign Wars convention in Pittsburgh, the president will detail how the Defense Department is broadening the scope of the Military Lending Act (MLA). The law, […]
The fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act prompted several articles today. Here here are few. 5 Numbers To Know As Dodd-Frank Wall Street Reform Celebrates Its 5th Birthday From Think Progress: Tuesday marks the five-year anniversary of the Dodd-Frank overhaul of America’s money business. The law is officially old […]
The Dodd-Frank Wall Street Reform and Consumer Protection Act turns five years old this week. The Wall Street Journal interviewed the Act's sponsors, former Sen. Chris Dodd and former U.S. Rep. Barney Frank, about the law. Excerpts are here.
The New York Times weighs in on pending amendments to the Food, Drug, and Cosmetic Act: A bill passed by the House and ostensibly designed to streamline the Food and Drug Administration is loaded with bad provisions and may not even be necessary. The Senate should either eliminate or rewrite the flawed provisions before passing […]
The New York Times reports: The Treasury Department has begun a study of online marketplace lenders, as the federal government looks to determine whether regulations are keeping up with the rapidly growing industry. As many traditional banks have retreated from making small loans to businesses and consumers, a flood of online lenders have filled the […]