The story is here. After stating the name of the customer and the balance, the sign states: Balance Overdue Not Cool
by Jeff Sovern As has been widely reported, last week the CFPB fined Wells Fargo $100 million for setting up phony accounts in consumers' names. But that didn't stop the House Financial Services Committee from voting yesterday on a largely party-line vote to adopt the Financial Choice Act, which would gut the Bureau. According to Law360, the […]
by Paul Alan Levy News comes from Chris Morran over at Consumerist that the House version of a bill banning non-disparagement clauses in form consumer contracts, which passed the Senate late last year, was passed on a voice vote in the House of Representatives today. Looks as if this bill will become law before the […]
From Morning Consult's How Would Democrats Run the Senate Banking Committee?: Remarks over the last year from Sen. Sherrod Brown of Ohio, the committee’s top Democrat, make it clear that Democrats think they stand a chance at facilitating bipartisan legislation in the financial sector if they take back the Senate for the 115th Congress. Brown, as […]
by Jeff Sovern Here (behind paywall). Excerpt: The sugar industry paid scientists in the 1960s to downplay the link between sugar and heart disease and promote saturated fat as the culprit instead, newly released historical documents show. The internal sugar industry documents, recently discovered by a researcher at the University of California, San Francisco, and […]
Here. Excerpt: An analysis of more than 2,000 current card agreements shows they’re written, on average, at the 11th grade reading level – better than five years ago, but still too hard for at least half the population to readily understand. * * * When consumers come up against the dense legalese of card […]
We posted recently about Uber's plans to put driverless cars on the road in Pittsburgh very soon. Auto safety advocates say it's too soon and the public's safety is at risk. Today's Washington Post has this article on the topic by Elizabeth Dwoskin and Brian Fung. Here's an excerpt: Uber’s decision to bring self-driving taxis to the streets of […]
From the New York Times: Buyout firms are at the forefront of Capitol Hill. They have successfully promoted legislation to roll back regulatory disclosures required under the postcrisis Dodd-Frank legislation, even as they settle cases over misleading investors. If the bill is enacted, however, there is a risk of repercussions. The House passed the plan […]
In the Washington Post this weekend, a journalist describes his experience correcting information that Trans Union provided about him to a prospective landlord. Trans Union erroneously reported that the journalist had several criminal offenses, including felony firearm convictions. It turns out the credit reporting agency was relying on court records for a different person by […]
David A. Hyman of Illinois, David J. Franklyn of San Francisco, Calla E. Yee, and Mohammad Hossein Rahmati of Sharif University of Technology have written Going Native: Can Consumers Recognize Native Advertising? Does it Matter? Here's the abstract: Native advertising, which matches the look and feel of unpaid news and editorials, has exploded online. The Federal […]