This multi-part series is well worth a read. Here's a flavor from the summary: Debt collection horror stories are nothing new. But there's a whole other side to the industry that no one’s talking about: collectors hired by government agencies to hunt down debtors…. [G]overnment debt collectors are rarely held to the same consumer protection […]
Fair Warning reports today on online website selling used cars by matching buyers with car owners. Claiming not to be car "dealers," the sites do not necessarily comply with consumer protection rules that apply to traditional used car dealers. Read "Used Car Startups Do a Wheelie Around Consumer Protection Rules." Used Car Startups Do a […]
Here. An excerpt: In the Big Business narrative, arbitration is a far better place for consumers than a nasty-wasty court. Lack of choice is a better choice! Well, this week, a big, fat government report blew that fiction away. * * * Companies, it turns out, weren't using mandatory arbitration clauses to protect us. […]
"Since 2005, student borrowers have been unable to discharge their private student loans through the process of bankruptcy. But that could soon change after a group of [13] senators introduced a bill aimed at addressing the current student debt crisis by restoring the bankruptcy code to hold private student loans in the same regard as other private […]
The Cleveland Plain Dealer reports: The Food and Drug Administration is again warning consumers of dangerous weight loss supplements that contain pharmaceutical drugs, including the weight loss drug Meridia, which was pulled from the market in 2010 for safety reasons. Four of the five weight loss supplements — Black Mamba Hyperrush, Diablos ECA Fir Caps, […]
The Federal Trade Commission and Consumer Financial Protection Bureau have reauthorized their memorandum of understanding. The memorandum outlines the working relationship between the two agencies and is designed to coordinate efforts to protect consumers and avoid duplication of enforcement and regulatory efforts.
The Consumer Financial Protection Bureau yesterday released a report on legal violations it has uncovered. The CFPB "found deceptive student loan debt collection practices, unfair and deceptive overdraft practices, mortgage origination violations, fair lending violations, and mishandled disputes by consumer reporting agencies." According to the report, "CFPB supervisory resolutions resulted in remediation of $19.4 million […]
…is the lesson of this informative interview from NPR's Fresh Air, which explains why it's risky to transport oil long distances in rail cars designed in the 1960s for non-flammable products. Forty-seven people were killed when flaming oil from a 2013 derailment in Canada engulfed an entire restaurant. Terrifying. You can listen to the story […]
As our readers know, the Consumer Financial Protection Bureau just issued its DoddFrank-mandated study on consumer arbitration. The CFPB has announced that on Thursday, April 2, 2015, it will conduct a "roundtable" on the topic. If you want to attend you must RSVP by sending an email to communityaffairs@cfpb.gov. The roundtable will take place at […]