We support reforms to the financial marketplace to curb bad practices by banks and lenders.
CFPB
Consumers won a huge victory in 2010 with the passage of the Wall Street Reform law. The key provision of the bill for consumers is the creation of the Consumer Financial Protection Bureau, which will oversee financial products and services such as mortgages, credit cards, payday loans, check cashing, and private student loans.
Blog Posts
- Obama’s Bailout: More Reforms Needed!
Help Americans Struggling with High Cost Mortgage and Credit Card Debt
- Don’t spend our tax money to support credit card debt with unfair terms!
Groups are seeking additional eligibility conditions on all financing by the TALF for credit card securitization pools.
- Chairman Bernanke — Enact credit card reforms now
Consumers aren’t looking for a bailout, just a break.
- Federal Government Should Set Standards for Taxpayer-backed Credit Card Debt
The Treasury Department announced plans to provide $20 billion to back $200 billion in securitized consumer debt, including for credit card debt. We need standards to make sure taxpayer money isn’t used to support credit card practices that rip off consumers.
- Best plan of action for your money- Stay Put
We understand that it is nerve wrecking to hear about bank failures and government bailouts, but rest assured, your money is safer where it is than in a shoebox under the bed.
- Bailout: Who gains, who pays?
What do you get for $700 billion? Banks don’t go under? What about those empty houses in so many neighborhoods? Consumers Union says that any bailout should be designed to stabilize neighborhoods, not just banks, by stopping the foreclosures.
- Is my money safe?
Bank accounts are insured for $250,000 under federal deposit insurance, and most brokerage investments are protected by a private scheme for losses of up to $500,000, but your money might not be protected if you have money on a retailer gift card or this month’s paycheck on a prepaid card.
- Retirement savings – diversify!
If your company stock takes a nose dive like Bear Stearns – from $170 to $10 a share in a year – would your retirement plans evaporate as quickly? They just might if your 401(k) is heavily invested in company stock.
- No more dangerous financial products!
We expect the government to keep dangerous products off the market – toys, prescription drugs, food. But dangerous financial products?
- Dirty Deeds: Abuses and Fraudulent Practices in California’s Home Equity Market
October 1995 Dirty Deeds: Abuses and Fraudulent Practices in California’s Home Equity Market by Norma Paz Garcia Executive Summary Through home equity loan abuse and fraud, homes are stolen and lives are devastated. High cost home equity loans sold to homeowners with no reasonable ability to repay them, have taken the homes and devastated the Continue Reading
Worried about retirement?
The stock market has been unusually volatile, plunging hundreds of points, creeping back, only to plunge again. It is hard to stay disciplined about saving when every dime you’ve invested can evaporate in a day.
What is your biggest concern about your own retirement? We want to hear from you.
Where to complain
Online, by mail, phone or fax... Agencies need to hear from you!