The Morning Call, New rule subjecting banks to class-action suits faces repeal by Republicans "“Wells Fargo’s illicit acts of opening millions of accounts without customers’ consent would have come to light much earlier if consumers could go to court against the big bank,” said Christine Hines, legislative director of the National Association of Consumer Advocates.
July 25, 2017
For Immediate Release:
In Voting to Repeal Arbitration Rule, U.S. House Chooses Bank Lobbyists’ Demands Over Constituents’ Legal Rights
Washington, D.C. - The U.S. House voted to approve a resolution under the Congressional Review Act that would repeal a rule on arbitration issued by the Consumer Financial Protection Bureau.
Today, the Military Coalition issued a letter to Congress in support of an arbitration rule issued by the Consumer Financial Protection Bureau that would restore legal rights of U.S. servicemembers and millions of other American consumers.
NACA submitted a letter to the U.S. House of Representatives urging opposition to H.J. Res. 111, a resolution under the Congressional Review Act (CRA) that would repeal the arbitration rule issued by the Consumer Financial Protection Bureau (bureau). H.J. Res. 111 would give the financial sector a pass to once again take away Americans’ legal rights that the bureau has rightfully restored.
July 11, 2017
For Immediate Release:
Contact: Christine Hines, email@example.com, (202) 452-1989, ext. 109
Statement of Christine Hines, Legislative Director, National Association of Consumer Advocates
Added Christine Hines, legislative director of the National Association of Consumer Advocates: "Restoring customers' ability to band together in class actions will ensure that American consumers are empowered to help themselves when they are cheated or ripped off by bad actors."
“We are pleased with this common sense solution to give consumers back their right to go to court when they are systematically cheated or ripped off by big banks or predatory lenders,” said Christine Hines, the NACA’s legislative director.
Long-Awaited Rule Restores Right to Band Together in Court Against Bad Actors in Consumer Financial Marketplace
Federal Consumer Agency Released Its Final Rule to Stop Financial Institutions’ Use of Forced Arbitration Clauses That Ban Class Actions
The undersigned 235 consumer, civil rights, labor and small business organizations strongly urge the U.S. Senate to oppose H.J. Resolutions 73 & 62, which would repeal the Consumer Financial Protection Bureau’s prepaid card protection rule. The resolution would block basic fee transparency and fee disclosure protections set to go into effect on prepaid cards, including payday lender prepaid cards and low-wage employer payroll cards such as those offered by Georgia-based NetSpend.
NACA joins public interest organizations on written comments responding to the Consumer Financial Protection Bureau’s proposal to align the requirements of the Equal Credit Opportunity Act (ECOA) with the data collection requirements of the Home Mortgage Disclosure Act (HMDA).