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 […]
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 […]
The following consumer advocates will be live-tweeting today's CFPB field hearing on arbitration, which gets underway at 11am. Ellen Taverna, NACA – @NACAdvocate Christine Hines, Public Citizen – @chrhines Michelle Schwartz, Alliance for Justice – @SchwartzAFJ NCLC – @NCLC4consumers AFR – @realbankreform You should also be able to watch a web livestream of the hearing here.
Here's the text of CFPB Director Richard Cordray's remarks on the arbitration report, to be delivered at today's field hearing in Newark. He summarizes the legal backdrop to the Bureau's report, its empirical approach, and its key findings (which I've highlighted in bold). Well worth reading in full. Prepared Remarks of Richard Cordray Director […]
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, […]
by Jeff Sovern New York's Attorney General, Eric Schneiderman, announced a settlement with the big three credit bureaus, Experian, Equifax, and Transunion, which is intended to improve credit report accuracy. According to Scheiderman's release: The agreement requires that the CRAs employ specially trained employees to review all supporting documentation submitted by consumers for all disputes […]