by Jeff Sovern Here in Medium. This is different from Norm Silber's and my proposal in The American Prospect to have the government pick up some of the interest payments. I'm not sure from the piece whether Harris is urging credit card issuers to do this voluntarily or is calling for legislation. If the latter, […]
As many people are struggling to pay their mortgage during the coronavirus crisis, columnist Michelle Singletary offers advice on resources for people experiencing financial hardship because of the pandemic. Her column is here.
Here. I hope Kathy Kraninger is listening.
by Jeff Sovern That's the inference to be drawn from a must-read article in the NY Times, ‘Scared to Death’ by Arbitration: Companies Drowning in Their Own System. The article points out that arbitrations are taking longer than billed, and companies are refusing to pay arbitration fees. AN ADDITIONAL NOTE: As Allison noted in an […]
in The American Prospect, my latest op-ed, with Norm Silber. Excerpt: For the next stimulus package, rather than sending tens of millions of checks to consumers, Congress would do better to strike at the economic crisis by using the existing lending mechanism, right in front of us, that more than three-quarters of us already possess: credit […]
Guest Post by Dee Pridgen: Consumers who have ongoing memberships at gym or fitness centers may wonder what their rights are when these facilities are shut down by government order during the corona virus pandemic. While these clubs have contracts with provisions that probably favor the provider, there are some things consumers can do. Some […]
by Jeff Sovern . . . during the pandemic as long as they act in good faith, according to a Policy Statement. The Policy Statement shouldn't affect private enforcement of the deadlines for investigating errors in consumer reports, however.
Read U.S. Treasury Must Protect Stimulus Payments From Garnishment by Debt Collectors from the National Consumer Law Center. Here's an excerpt: The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides for payments to individuals up to $1,200 so that people can pay for food, rent, utilities, medicine, and other basic necessities. The CARES Act protects stimulus checks […]
U.S. Public Interest Research Group's Ed Mierzwinski and Sabrina Clevenger write that the effects of coronavirus "will send credit reports in a downward spiral" and explain how Congress can help. Their op-ed in USA Today is here.
Massachusetts Attorney General Maura Healey on Friday announced that her office has filed an emergency regulation that prohibits creditors from engaging in methods of debt collection that can require people to leave their homes during the COVID-19 pandemic. Healey said the regulation, 940 CMR 35.00, is designed to protect consumers from unfair and deceptive debt […]