When I heard about S & P downgrading U.S. credit - only one thought came to my mind - you've got to be kidding me!! Isn't this the same company that threatened to downgrade or refuse to even rate mortgages in states that had the audacity to try and prevent the predatory lending crisis that we all saw coming. And isn't this the brilliant agency that gave AAA ratings to mortgages that weren't safe enough to use at the bottom of a bird cage.
As referenced in an earlier NACA blog post, we know that young military servicemembers often fall victim to predatory auto loans, many of whom are buying their first car and managing regular paychecks for the first time.
Not Much Else Needs To Be Said...
Most car dealers are honest, but some just plain aren't.
It looked like consumers might finally be getting a break this summer. Not from the record heat, but rather from some of those mysterious fees, taxes and surcharges that are added to every airline ticket. Last week, Congress failed to pass a bill that would continue an array of taxes tacked on to every airfare. Yes, taxes can go away
Two weeks ago I had the chance to testify before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity: http://financialservices.house.gov/Calendar/EventSingle.aspx?EventID=250158
Sometimes being an advocate also means being a translator; explaining how technical legislation and court decisions impact consumers. It is not always obvious how seemingly benign legal clauses chock full of ‘in the events that,’ ‘heretoforths,’ and ‘in accordance withs,’ can and do have real and often damaging consequences for consumers. This is especially the case with forced arbitration which is favored by large corporations with poor customer service records and a history of unfair or deceptive business practices.
Dear NACA Members,
Financial Reform still needs your help! Issue campaigns are as much about being ready for critical moments as they are about advancing a strategy. This week is that critical moment. One the one hand, consumer advocates are celebrating the one year anniversary of the...
The Consumer Financial Protection Bureau (CFPB) officially opens its doors today. Created by the sweeping Dodd-Frank Wall Street Reform Act last July, the Bureau will serve as the leading federal regulator against deceptive, abusive and predatory loan products in the financial marketplace. One important arm established at the CFPB is the Office of Servicemember Affairs (OSA), which is dedicated solely to helping America's military servicemembers and their families.
One year ago this month, Congress passed sweeping financial reform legislation and created the Consumer Finance Protection Bureau (CFPB) to address fundamental weaknesses in financial regulation and consumer protection.