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Financial Reform

News Release
10/23/2009
Posted by Consumer Watchdog
Washington, D.C. -- A new consumer financial protection regulator was wounded but not crippled by a barrage of special interest lobbying and amendments before final approval of the bill in the House Financial Services committee yesterday, said the nonpartisan Consumer Watchdog. "Americans want an end to the culture of greed and consumer abuses...
News Story
10/20/2009
Posted by Consumer Watchdog
The financial meltdown led some folks - including the president - to opine that the little guy has sure taken it in the shorts these last few years, and that government must do more to protect consumers. Enter Congressman Barney Frank, chairman of the House Financial Services Committee, with his proposed Consumer Financial Protection Agency Act of...
Blog Post
10/14/2009
Posted by Consumer Watchdog
The first hour of debate just finished in the House Financial Services Committee on the proposed Consumer Financial Protection Agency. This is the agency that's supposed to rein in abusive credit cards, mortgages and checking accounts, and all the other financial tricks that made Wall Street money at consumers' expense. It's meant to demonstrate a...
News Story
10/13/2009
Posted by Consumer Watchdog
The grand plan for a new federal agency that would fight for consumer rights in financial transactions has been given a hatchet job by industry groups, a consumer group charged on Monday. The latest version of legislation (PDF) that would create the Consumer Financial Protection Agency carves out wide-ranging exceptions for the nation's credit...
News Release
10/12/2009
Posted by Consumer Watchdog
Consumer Regulator Must Oversee Credit Reports to Fulfill Obama’s Pledge Against Unfair Rate Hikes & Penalties   Washington, D.C. -- Congress must restore the ability of a proposed consumer financial regulator to oversee consumer credit reporting companies in order to fulfill President Obama’s pledge Friday that the new Agency...
News Story
10/9/2009
Posted by Consumer Watchdog
LOS ANGELES, CA -- The charges for overdrawing on your checking account have almost tripled in the past decade. But consumer complaints are beginning to make banks change their policies. Ronda Salas is a struggling mom with two small children. Money is so tight that along with her husband, they all live with his grandfather in Carson. It's one...
News Release
9/30/2009
Posted by Consumer Watchdog
Amendments Could Strip Proposed Agency’s Authority to Investigate Penalties on Credit Card Users Based on Where They Shop   Washington, D.C. -- A new financial regulator charged with consumer protection must have the authority to oversee the full range of credit practices, including moves by credit card companies to penalize consumers...