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 […]
by Jeff Sovern Earlier this year, the CFPB created a Taskforce to make "recommendations for ways to improve and strengthen consumer financial laws and regulations." The Taskforce is chaired by George Mason professor Todd Zwyicki and its other members are J. Howard Beales III, Thomas A. Durkin, William C. MacLeod, and Jean Noonan. As far […]
The National Consumer Law Center has posted a compilation of "major consumer protections announced in response to COVID-19," including suspensions on foreclosures, evictions, terminations on telecommunications and utility service, elimination of interest, and forbearance on student loan payments. The webpage is here.
A bipartisan group of state attorneys general on Wednesday sent letters to major online retailers urging them crack down on price gouging on their online platforms amid the spread of coronavirus. The 34 attorneys general asked Amazon, Craigslist, eBay, Facebook and Walmart build tools to detect price spikes and create landing pages for people to […]