I was thrilled to see Massachusetts AG Martha Coakley file a lawsuit against five major banks and MERS for their egregious and fraudulent behavior in foreclosing on homeowners:...
In 2010 Congress took a bold and courageous move and passed the Dodd-Frank Wall Street Reform and Consumer Protection Act which created a new consumer cop on the beat, in the Consumer Financial Protection Bureau! Consumers and Consumer Advocates lauded this bold and necessary move. Finally, there would be a cop on the beat whose sole interest and mandate came from the consumer.
In 2009, Obama released the original economic stimulus plan, Home Affordable Refinance Program (HARP), which was designed to stabilize communities hit by foreclosures or abandonment. At the end of October, Obama pitched his latest proposal to attempt to relieve the economic and political fallout of a housing crisis that has hindered him as he seeks a second term in office. He has decided that it is not worth waiting for a dysfunctional Congress to take the first steps.
"Imagine that: when the banks actually disclose a fee to consumers, they have the capacity to vote with their feet—in this case by migrating to competitor banks with a more customer-friendly policy. This is free market economics at its best."
Facing a hue and cry from...
Hate those annoying, usually dinner time, phone calls with a long pause where it seems like there’s no one at the other end? Then, just before you hang up, you hear the robo-voice on the other end. A new House proposal – HR 3035 – will likely make this the new norm...
On October 13, my old friend, and consumer advocate extraordinaire, Addison Parker was honored at the White House as a "Champion of Change." You can read below, the official "bio" that describes why Add was chosen as an honoree.
Under the guise of job creation, the Wisconsin GOP has clearly visited the American Legislative Exchange Council’s playbook and are pushing a few anti-consumer bills that will further shield corporations from liability for wrong doing.
As previously announced, the Senate Judiciary Committee will be holding a hearing on the Arbitration Fairness Act next Thursday October 13th at 2pm in Dirksen 226. Democratic witnesses include NACA Member Paul Bland, Minnesota AG Lori Swanson and consumer witness, Dr. Deborah Pierce. Republican Witnesses will include: Christopher Drahozel (click here to see his take on Concepcion and the Arbitration Fairness Act) and Victor Schwartz.