We support reforms to the financial marketplace to curb bad practices by banks and lenders.
Mobile
Consumers have long been able to make payments by phone and more recently, by mobile phone. The emergence and eventual widespread adoption of electronic payment methods has dramatically changed the payments landscape. Convenience should not give way to statutory and regulatory consumer protections.
Publications
- Gift Cards: Consumer Tips for the 2012 HolidaySeason
Gift cards continue to be a very popular gift giving solution. Before you buy or receive a gift card this holiday season, be sure you know which protections apply to your card, as they may vary depending on the type of card you buy.
- CU Testifies Before House Financial Services Committee on Mobile Payments
Testimony of Suzanne Martindale Staff Attorney Consumers Union of U.S., Inc. on The Future of Money: How Mobile Payments Could Change Financial Services before the Committee On Financial Services Subcommittee On Financial Institutions And Consumer Credit March 22, 2012 Chairman Capito, Ranking Member Continue Reading
- Pay at Your Risk? How to Make Every Way to Pay Safe for Mobile Payments
Consumers today have a bewildering number of choices when it comes to paying for goods and services
- How Top Wireless Carriers Compare on Consumer Protections For Mobile Payments
How Top Wireless Carriers Compare on Consumer Protections For Mobile Payments Most cell phone and tablet users can currently make mobile payments charged to a prepaid phone account or their monthly bill. But when consumers use these payment options, they may not get the protections they need to limit their financial liability if something goes Continue Reading
- Mobile payments tip sheet: What can consumers do now
WHAT CAN CONSUMERS DO NOW TIP SHEET Link Your Mobile Payment to a Credit Card for the Strongest Consumer Protection If you link your mobile payment to a credit card, you will have the most consumer protections. • Limited liability for unauthorized transactions: Under federal law, you are only on the hook for up to Continue Reading
- Report: Mobile payments could be risky for consumers
CU report highlights how protections vary widely when consumers pay with their mobile phones
- New CU Article: How to Make Every Way to Pay Safe for Mobile Payments
Read a draft of our new article discussing the mobile payments market, the major risks it poses for consumers, and the few simple fixes that would ensure all consumers making mobile payments have guaranteed consumer protections.
- Mobile Payments: Issues for Consumers
CU’s presentation at the University of Washington, Oct.29, 2010
- New Rip-offs
Have you been ripped off by unfair lending or financial practices?
- Consumers Union’s Tips for Mobile Payments Users
Consumers Union’s Tips for Mobile Payments Users Mobile payments, or cell phone payment applications, are becoming more popular. Meanwhile, consumer protections have not yet kept up with technology. It pays to know what types of protections you may or may not have. Protections vary widely, depending on how you link the payment method: Linked to Continue Reading
Press Releases
- Consumer protections lacking for mobile payments
Consumers Union finds protections fall short when mobile payments are linked to phone accounts
- T-Mobile’s mobile payment plan risky for consumers
eless carrier’s direct carrier billing program not covered by protections against fraud and mistakes
- Emerging Mobile Payment Methods Could Pose Financial Risk to Consumers
Consumers Union calls on wireless carriers to protect consumers
- Mobile payments could leave consumers at risk
CU calls on regulators to require mobile payment providers to abide by strong consumer protections
- CU applauds effort to restrain abusive credit card practices as a strong first step
The agencies have issued proposed rules that would restrict when and how the credit card companies can raise interest rates and assess fees.
Blog Posts
- 2013: a pivotal year for mobile payments?
Forrester Research has projected that by 2017, mobile payments in the US will reach $90 billion. And in looking at the near future, one of their analyst’s blog states; “Mobile payment and digital wallet providers face significant hurdles to achieving adoption at scale, and 2013 will be a pivotal year in that quest.” There has Continue Reading
- Smart Phone Apps May Pose Privacy Risk for Consumers
Almost half the American adult population has a smart phone, according to a 2012 study. Due to price, smart phones have, for many, become their only computer. This year mobile phones will overtake PCs as the most common Web access device worldwide, research firm Gartner predicts. Cell phones used to be big bricks that could only Continue Reading
- Gift Cards: Consumer Tips for the 2012 HolidaySeason
Gift cards continue to be a very popular gift giving solution. Before you buy or receive a gift card this holiday season, be sure you know which protections apply to your card, as they may vary depending on the type of card you buy. Most gift cards have limits on expiration dates and fees provided Continue Reading
- Smartphone security threats leave consumers vulnerable to fraud
Is your smartphone protected from hackers? Chances are it’s not. Less than 5 percent of all smartphones are protected by security software, according to a new report by Juniper Research. That means your smartphone could be hacked without your knowledge, leaving you vulnerable to identity theft and financial loss. Security threats are on the rise Continue Reading
- Signs Point To Google Wallet Launch Today
Google Wallet may launch later today. Will it have basic consumer protections?
- Mobile Payments Ripe For Fraud
Cyber criminals are targeting mobile payment systems.
- Your Buying Habits May Be Key To Mobile Pay Success
Your shopping habits and information may be the key to mobile payments success.
- No Consumer Guarantees With T-Mobile “Direct Carrier Billing” Program
Wireless Carrier’s Mobile Payment Plan Does Not Cover Fraud Or Mistakes. Consumers at risk.
- Mobile Pay or Mobile Mess
Mobile payments are supposed to make consumers’ lives simpler by enabling consumers to pay with cell phones instead of carrying plastic or cash. But, mobile payments may cause consumers huge headaches with the lack of consistent consumer protections if a transaction goes awry or when mobile phones are lost or stolen and used to make unauthorized purchases.
- Is Your Text Donation Making It To Japan?
Your text donation may take up to 90 days to get to the charity and some third party servicers take a fee from your donation. Help send a message to the phone mobile companies.
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!