We support reforms to the financial marketplace to curb bad practices by banks and lenders.
comment
CU comments to the CFPB on which non-banks it should supervise
Consumers Union,1 the nonprofit publisher of Consumer Reports®, appreciates the opportunity to comment on this Notice and Request for Comment on how the Bureau should define “larger participants” in markets for other consumer financial products and services. The Bureau’s “larger participant” rule will determine which nondepository covered persons (hereinafter “non-banks”) other than residential mortgage, private Continue Reading
Categories: CFPB
Tags: comment, legislation
CU comments to the OCC on Overdraft and Bank Payday
August 8, 2011 Office of Comptroller of the Currency 250 E Street, SW Mail Stop 2-3 Washington, D.C. 20219 Re: OCC Guidance on Deposit-Related Consumer Credit Products, Docket ID OCC-2011-0012 Dear Acting Comptroller Walsh: With this proposed guidance the OCC missed an opportunity to truly protect consumers from concerns raised by overdraft loans and Continue Reading
Categories: Banking
Tags: comment, loans, overdrafts, Payday Loans
CU comments to the OCC on proposed preemption rules for national banks
In this comment letter, CU tells the Office of the Comptroller of Currency (OCC) to amend its proposed rules regarding preemption of State consumer financial protection laws.
Since 2004, the OCC, which currently oversees national banks, has had broad preemption rules in place that allow national banks to evade stronger State laws that would protect consumers against predatory lending and other abuses. The Dodd-Frank Act overturned these standards and required the OCC to rewrite their rules – but the OCC’s proposed rules do little more than maintain the status quo, essentially ignoring their new responsibilities under Dodd-Frank.
Categories: CFPB
Tags: comment, legislation
CU and CFA Comments to FTC on Debt Collection and Newer Technologies
Consumers Union and Consumer Federation of America submitted these comments to the Federal Trade Commission (FTC) on how the agency can protect consumers in debt collection as newer technologies evolve.
Categories: Debt Collection
Tags: comment, legislation
CU comments to the proposed Department of Treasury’s Interim Rule allowing federal payments to be deposited onto prepaid cards
The National Consumer Law Center, on behalf of its low-income clients as well as the Consumer Federation of America and Consumers Union, submit these comments regarding the Interim Final Rule allowing federal payments to be deposited on prepaid cards. We particularly commend the Treasury Department for the new consumer protections required to be provided to Continue Reading
Categories: Government Issued Cards, Prepaid Cards
Tags: comment
Comments to Treasury’s proposal to change the types of accounts into which federal payments can be directly deposited
COMMENTS to the Department of the Treasury Financial Management Service 31 CFR Part 210 RIN 1510-AB 24 Docket Number FISCAL-FMS-2009-0001 by Consumer Federation of America Consumers Union the National Consumer Law Center on behalf of its low-income clients and the National Senior Citizens Law Center July 13, 2010 ___________________ DOTHAN, Ala. — One recent morning, Continue Reading
Categories: Government Issued Cards, Payments
Tags: comment
CUs comments to the FTC re: Mortgage Assistance Relief Services—Proposed Rulemaking
Mortgage Assistance Relief Services – Proposed Rulemaking; Rule No. R911003
Supporting comments for FDIC mortgage securitization reform
February 12, 2010 Mr. Robert. E. Feldman Executive Secretary Federal Deposit Insurance Corporation 550 17th Street, N.W. Washington, D.C. 20429 Via email: http://www.FDIC.gov/regulations/laws/federal/notices.html. Re: RIN # 3064-AD55–Advance Notice of Proposed Rulemaking Regarding Treatment by the Federal Deposit Insurance Corporation as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Continue Reading
Comments to the Federal Reserve regarding proposed amendments the Truth in Lending Act’s disclosure rules on Open-End credit
December 22, 2009 Jennifer J. Johnson Secretary Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue, N.W. Washington, D.C. 20551 Via email: regs.comments@federalreserve.gov VIA FACSIMILE: (202) 452-3819 Re: Docket No. R-1367 Consumers Union’s Comments on Proposed Changes to Regulation Z for Home Secured Open-End Credit Dear Chairman Bernanke, Members of the Continue Reading
Credit Card Comments to the Federal Reserve
Consumers Union asks the Federal Reserve to make sure credit card companies don’t try to get around the new limits on rate increases and fees through creative new charge schemes or other unfair demands on customers.
Categories: Credit Cards
Tags: comment
