Comment Letters

October 19, 2009 | Filed under: Mortgage, Real Estate & Housing

The undersigned consumer, community, labor and civil rights organizations write to request a meeting with you to discuss the Administration’s efforts to prevent mortgage foreclosures. Our organizations are on the front lines of this crisis, and have a deep concern about its impact: our members are directly affected by this problem, and many of us provide counseling and other forms of assistance to homeowners who are in danger of losing their homes.

October 19, 2009 | Filed under: Other Areas of Interest

On behalf of the Leadership Conference on Civil Rights (LCCR), the nation’s oldest, largest, and most diverse civil and human rights coalition, as well as the Lawyers’ Committee for Civil Rights Under Law, National Partnership for Women & Families, Public Citizen, National Employment Lawyers Association, and other organizations focused on protecting our nation’s civil rights laws, we write to express our strong support for the Franken Amendment to H.R. 3326, the Defense Appropriations Act for 2010 (S. Amdt. 2558). Please ensure that this amendment remains a part of the final bill as it was passed by the Senate, without being weakened.

October 8, 2009 | Filed under: Student Loans

Thank you for your leadership in advancing legislation to create a much-needed Consumer Financial Protection Agency (CFPA). As advocates for consumers, students, higher education and taxpayers, we strongly urge you to ensure the CFPA has full authority over all private student loans, regardless of the institution offering the loan. We are concerned that clarifications to address small business concerns have inadvertently exempted dangerous private student loans made by large for-profit colleges from the CFPA’s enforcement authority.

October 7, 2009 | Filed under: Automobiles

Dear Chairman Frank, Ranking Member Bachus, and Members: We strongly urge you to ensure that all activities of auto dealers related to the financing of cars are fully included under the jurisdiction of the Consumer Financial Protection Agency. While we agree that the sale of just a car, where car buyers pay cash or obtain their own financing, should not fall under the supervision of the agency, loan financing represents a huge source of income for auto dealers. Increasing percentages -- currently a majority -- of dealer profits are derived not from the sale of the car itself, but rather from their “Finance and Insurance" departments, where seasoned, trained F & I managers, paid largely on commission, use sophisticated software programs to maximize the profits from the financing and add-ons in car sales transactions.

September 21, 2009 | Filed under: Credit Reporting

There is consensus that the FTC’s pilot studies about credit report accuracy failed on several fronts. This is not surprising given the involvement of contractors with little background in Fair Information Practices principles and the dubious methodology they employed. Thus, it is crucial that the FTC “get it right” this time and fulfill the goals Congress set forth in the FACT Act. Please understand: We do not underestimate the challenges involved.

September 9, 2009 | Filed under: Other Areas of Interest

“Consumer groups look forward to working with Chairman Chris Dodd and the entire Senate Banking Committee on enacting comprehensive financial reform that includes a strong Consumer Financial Protection Agency. Chairman Dodd’s leadership was critical in the passage of landmark credit card reforms earlier this year. The continuity of his leadership and his commitment to protecting consumers will be critical to expediting passage of strong reforms this year.”

August 13, 2009 | Filed under: Forced Arbitration

The Fair Arbitration Now Coalition is encouraged by Bank of America’s decision to stop requiring its customers to resolve their disputes in the unfair system of forced arbitration. Forced arbitration clauses – which are buried in the fine print of everything from credit card terms and employee handbooks to nursing home admissions forms – eliminate consumers’ and employees’ access to the courts and require that they submit their disputes to a private system designed by corporations to favor their interests.

June 4, 2009 | Filed under: Other Areas of Interest

We, the undersigned national consumer advocacy organizations, strongly support H.R. 1508, the “Sunshine in Litigation Act of 2009.” This much needed legislation restricts court-ordered secrecy on matters that impact public health and safety and keeps corporations accountable for wrongdoing they would otherwise try to hide from the public.

May 28, 2009 | Filed under: Other Areas of Interest

In nominating Judge Sotomayor, a jurist with a full range of life experiences, President Obama recognized the need to have judges who are willing to follow legal precedent and the law as it is written, while applying it fairly regardless of the political or economic power of the parties involved.

April 9, 2009 | Filed under: Other Areas of Interest

In the face of a full-blown global economic crisis, bold action is needed now by leaders in Congress, the Administration and the federal government to repair our nation’s broken financial system, establish integrity in the financial markets, and facilitate productive economic activity that benefits all segments of our communities.