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.
- CU offers principles for restructuring financial regulation
Via Electronic Mail December 16, 2008 Ms. Orice M. Williams Director, Financial Markets and Community Investment U.S. Government Accountability Office 441 G Street, N.W. Washington, DC 20548 Re: GAO Report on Reforming the Financial Regulatory System Dear Ms. Williams, Consumers Union, the nonprofit publisher of Consumer Reports, is deeply interested in creating a more effective Continue Reading
- CU calls for new agency heads to protect consumers in credit and housing
Groups ask President-elect to choose nominees who will push for consumer protection, foreclosure prevention, and strong regulation in credit and housing.
- CRA is not the cause for the foreclosure crisis
The Community Reinvestment Act is not the problem. The problem is failed regulatory policy and oversight.
- CU: Include credit card reforms in bailout package
Consumer groups urge the Senate to protect consumers from deceptive credit card practices
- Wall Street rescue plan, worries for consumers
CU urges the House to put consumers and taxpayers at the forefront of bailout package
- Protect all your money if your bank fails
Consumer groups call on the FDIC to apply deposit insurance to all prepaid cards, payroll cards, and bank-issued gift cards.
- Letter to the Office of the Comptroller of the Currency (OCC) Regarding Opposition to Proposed Rule on Preemption
Letter to the Office of the Comptroller of the Currency (OCC) regarding opposition to proposed rule on preemption.
- CU: Obama cap on executive pay right thing to do
Companies receiving federal bailout money will have their pay capped at $500,000
- Bailout should include new credit card standards
CU says Treasury plan to buy securitized credit card debt should protect consumers from bad lending practices
- Statement by CU on President-elect Obama’s economic team
Their plans offer some hope that they will act quickly to get to the heart of our financial crisis.
- CU calls for new reforms to address financial crisis
New safeguards needed to stem foreclosures and protect consumers and taxpayers from deepening crisis
- Senate approves Wall Street rescue package
Senate bill strengthens Bush Administration plan, but critical protections for consumers and taxpayers still needed
- House passes credit card reform bill
CU urges Congress to include credit card protections as part of any Wall Street bailout package
- CU: Bailout should include consumer protections
CU calls on Congress to protect consumers and taxpayers and enact reforms to prevent future financial meltdowns
- House to vote on credit card reforms
CU joins with other consumer groups to urge Congress to curb abusive credit card lending practices
- OCC sides with banks on credit card reform
Fed proposal offers important protections for consumers against abusive credit card practices
- California Senate OKs mortgage foreclosure bill
Bill aims to help Californians keep their homes and protect communities hit hard by foreclosures
- CFPB Launches Public Database of Credit Card Complaints
The CFPB made its database of credit card complaints submitted by consumers available to the public today. The CFPB also issued a report analyzing 45,000 complaints it has collected on a range of financial issues and announced that it may expand the public database to include financial products other than credit cards. Here is Pam Continue Reading
- Consumers Score Long Deserved Victory As Obama Appoints Cordray
President Obama announced that he was making a recess appointment to name Richard Cordray as head of the CFPB giving the watchdog its full power to protect consumers. After months of delay and politicking, Richard Cordray was appointed to head the new Consumer Financial Protection Bureau. He’ll start with a full set of powers to Continue Reading
- Richard Cordray Appointed to Head CFPB: Consumers to get much needed protections
DYD applauds the news that Richard Cordray will be appointed to serve as the director of the Consumer Financial Protection Bureau. While Cordray has received bipartisan praise, his appointment has been held up for months in the Senate, where opponents of the CFPB demanded changes be made to weaken the bureau. The absence of a Continue Reading
- Senate Blocks Vote on Confirmation Of Richard Cordray
Vote shows who is for consumers and who is for the Big Banks and Wall St.
- Dec 8th: Senate To Vote on Cordray
Take action and call your Senators!
- Confirm Cordray: We need a Wall Street watchdog!
Enough is enough. Join us on November 15th for a national day of action to give consumers the financial watchdog we deserve.
- Message To Congress: Investigate Bank Of America
In response to Bank of America’s new $5/month fee we have called on Congress to launch an investigation.
- The Financial Crisis Aftermath—Please Pass the Backhoe
What the future may hold for consumers.
- Cordray Confirmation Hearing Starts Today
Senate needs to confirm Cordray as director of the CFPB in order for the agency to get full powers to protect consumers. 44 Senators are trying to weaken consumer protection.
- US Government To Sue Big Banks Over Mortgage Crisis
Too big to fail doesn’t mean too big to do the right thing