Obama this morning signed a memorandum to "clamp down" on student loan servicers, the Boston Herald reports: More than 40 million Americans are in debt thanks to their education, and most of their loans come from Uncle Sam. So President Barack Obama is aiming to clamp down on the private companies that service federal student […]
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That's the name of this article by Peter Whoriskey. Note in particular the long list of "unnatural" ingredients at the end of the article that find their way into foods advertised as "natural." [HT to Michele Simon]
by Steve Gardner My firm, the Stanley Law Group, filed a class action today against Toyota, Ford, and General Motors because of a defect that allows cars to be hacked and control wrested away from the driver. The Complaint was filed in the United States District Court for the Northern District of California. You can download the […]
Go here, here, here, and here.
From Consumer Watchdog: Four Senate Democrats have re-introduced a bill that would enable consumers to wield control over how information about them is used by data brokers. The Data Broker Accountability and Transparency Act (S. 668) empowers consumers to stop the use and sale of their personal information by data brokers. The measure also allows […]
This article by Max Ehrenfreund and Sandhya Somashekhar explains that, according to a new Congressional Budget Office report, the Affordable Care Act is costing taxpayers less than expected because of lower medical spending costs, which in turn will reduce the expected cost of insurance premiums, which in turn will lower the amount the government spends […]
Read the agency's fact sheet and the full report. Here's what the CFPB had to say about its study: Today, the Consumer Financial Protection Bureau released a study indicating that arbitration agreements restrict consumers’ relief for disputes with financial service providers by limiting class actions. The report found that, in the consumer finance markets studied, […]
The online publication Kansas City infoZine reports: Attorney General Chris Koster has obtained an agreement with eight online payday loan operations to shut down payday loan operations in Missouri, provide $270,000 in consumer restitution, and erase all loan balances for Missouri consumers. … The Attorney General’s Office received 57 complaints from consumers who were collectively […]
The Hill reports: The chairs of the congressional progressive, Hispanic and Black caucuses are urging financial regulators to crack down on payday loans. In a joint letter to Consumer Financial Protection Bureau Director Richard Cordray, Congressional Progressive Caucus Co-Chairs Keith Ellison (D-Minn.) and Raúl Grijalva (D-Ariz.), Hispanic Caucus Chair Linda Sánchez (D-Calif.) and Black Caucus […]
As we reported last week, the Administration recently released a proposed "Privacy Bill of Rights." Since then, both consumer groups and industry groups have noted their dissatisfaction with the Administration's draft. An article today in the Christian Science Monitor reviews the complaints of both sides.