We support reforms to the financial marketplace to curb bad practices by banks and lenders.
Senate Bill 1161 would strip the California Public Utilities Commission (CPUC)’s ability to protect all phone customers who use wireless (since wireless providers offer broadband and IP-enabled services) or VOIP (think Vonage) or IP–enabled technologies (like Skype). The impact on consumers may not be entirely apparent now, but as traditional services are replaced with new technologies, consumers will Continue Reading
May
22
California, Stop AT&T’s Deregulation Bill
Posted by Michelle Jun in Uncategorized
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May
10
Chase’s new Liquid card certainly seems to be making waves
Chase’s new Liquid card certainly seems to be making waves. Chase recently joined a handful of big banks to offer prepaid cards with their Liquid prepaid card. Chase’s Liquid offers a relatively straightforward fee schedule, which consists mostly of a monthly fee of about $5. A quick rundown of Liquid’s fees: $4.95 monthly fee $5 for Continue Reading
Posted by Michelle Jun in Uncategorized
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May
09
Bill To Extend Student Loan Rate Cap Blocked
The Senate bill to prevent interest rates on subsidized Stafford student loans from doubling to 6.8 percent was blocked by a filibuster. From the AP story: The 52-45 vote to begin debating the legislation fell eight votes short of the 60 needed to proceed and stalled work on an effort both parties expect will ultimately Continue Reading
Posted by Tim in Student Loans
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Apr
24
Colleges Confuse Students with Financial “Aid” Letters
Students and their families across the country are currently making big decisions about where to go to college. But as many high school seniors face a May 1 deadline to decide, families are struggling to understand college financial aid letters, which can be murky and confusing. Yesterday, Bloomberg News reported that many families are receiving confusing Continue Reading
Posted by Suzanne Martindale in Credit, Student Loans
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Apr
24
Don’t Double The Student Loan Rate!
Interest rates on new subsidized Stafford student loans are set to double to 6.8% in July if Congress fails to act affecting about 7.4 million students. Americans now owe over $1 trillion in loans for their college educations – more than we owe in total credit card debt. Students and their families are taking out Continue Reading
Posted by Tim in Student Loans
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Apr
12
April Bank Alert!
Guest Blogger: Christina Tetreault For our April Bank Alert we’d like to highlight a bank practice that can leave consumers owing hundreds of dollars in fees before they even knows what’s happening. No, we’re not talking about re-ordering transactions to drive up overdraft fees. Some banks reopen closed accounts if a debit or credit hits Continue Reading
Posted by Lauren Bowne in Banking
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5 Comments »
Apr
10
Why Student Loan Debt Matters…To The Economy
This past weekend, the San Francisco Chronicle highlighted the harsh realities of student loan debt – and how it impacts the nation’s economic recovery: “In her 20s, Connie Swain shelled out a lot of money to a private vocational school to learn computer skills, relying on student loans for tuition and expenses. ‘I was young Continue Reading
Posted by Suzanne Martindale in Credit, Student Loans
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1 Comment »
Apr
04
Help the Office of Privacy Protection Celebrate Another Birthday
Do you care about your privacy? Your kids’ privacy? Then you should care about the fate of the COPP. The California Office of Privacy Protection (COPP) is about to be eliminated. This important state agency has helped out individuals and businesses with sticky privacy issues like identity theft, online child safety, cyber security, financial privacy and Continue Reading
Posted by Michelle Jun in Privacy
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Apr
02
Student Loans Burden Older Americans, Too
Think it’s only 22-year-olds who are stressed out about student loans? Think again. The Washington Post reported yesterday that older Americans, including senior citizens, are also bearing the burden of student loans. Americans 60 and older still owe about $36 billion in student loans – and more than 10 percent of those loans are delinquent. As a result, it is Continue Reading
Posted by Suzanne Martindale in Credit, Student Loans
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Mar
28
Bank of America CEO Definitely Earned His $8.1 Million in 2011… Right?
Apparently coming up with new schemes to charge consumers $5 to use their debit card, not helping middle class Americans stay in their homes, and making it to the Elite 8 in Consumerist’s “Worst Company In America” bracket is worth a lot of money. According to Reuters, Bank of America’s CEO Brian Moynihan received $8.1million Continue Reading
Posted by Tim in Banking
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1 Comment »
