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Blog Post
12/15/2009
Posted by Carmen Balber
Captain Renault was taken aback at the gambling going on in Rick's casino. Imagine the surprise of the nation's biggest banking executives when the President revealed that their lobbyists in Washington (the ones the commercial banks have paid $36 million this year) are opposing financial reform. Gasp! As reported in the Wall Street Journal:...
Blog Post
12/14/2009
Posted by Carmen Balber
Consumers won a big victory over the banks and Wall Street last week when the House passed financial reform legislation that, among other things, created a new top cop to regulate all consumer financial products. But it was a close fight. The consumer regulator survived by a margin of just 15 votes. That's thanks in no small part to the financial...
News Release
12/11/2009
CONTACT CONTACT: Carmen Balber, (202) 629-3043
WASHINGTON, D.C. -- Consumer Watchdog applauded approval by the U.S. House of Representatives of its financial regulatory overhaul bill, H.R. 4173, including the creation of a strong consumer regulator, but cautioned that more must be done to protect American homes and savings and prevent the big banks and Wall Street from dragging the nation into...
Blog Post
12/10/2009
Posted by Carmen Balber
The U.S. House of Representatives is debating the financial reform package right now. It would, among many other things, create a new regulator to do the consumer protection the banking regulators ignored, and require Wall Street speculators to meet minimum standards and do their gambling in the light of day. What I’m having a hard time...
Blog Post
12/9/2009
Posted by Doug Heller
California Public Utilities Commissioner Rachelle Chong - the force behind California's land-line telephone service deregulation - will not be confirmed for a 2nd term, according to the LA Times.  After a few years demonstrating her fealty to telecom at California consuemrs expense, the Senate is making the right move.  The fact is, she...
News Release
12/2/2009
CONTACT CONTACT: Carmen Balber, 202-629-3043
Financial Reform Should Not Override State Protections, Says Consumer Watchdog   Washington, D.C. --- Legislation to undermine state insurance protections, including laws requiring insurers to hold enough money to pay all claims, passed the U.S. House Financial Services Committee today. Insurance deregulation should not be part of a...
News Release
11/23/2009
CONTACT CONTACT: Jerry Flanagan, (310) 889-4912; or Carmen Balber, (202) 629-3043
Pre-emption of State Health Benefit Laws Is a Major Retreat; Insurance Rate Justification Shows Promise WASHINGTON, D.C. -- Consumer Watchdog released a list today of the 10 key positive and negative consumer protection provisions of the U.S. Senate health reform bill, HR 3590, which passed an important procedural vote this weekend. The group...
News Release
11/16/2009
CONTACT CONTACT: Jerry Flanagan, (310) 889-4912; or Carmen Balber, (202) 629-3043
Finance Bill Expected To Preempt State Health Benefit Mandate Laws Such As HIV Testing, Reconstructive Surgery, Home Health Services WASHINGTON, D.C. -- Under the U.S. Senate Finance health reform bill, approximately 87 million Americans are at risk of being sold junk insurance that does not cover key treatments and health services like HIV...
Blog Post
11/16/2009
Posted by Judy Dugan
I don't think readers will be too surprised to discover this. Drug companies are jacking up their prices in advance of new laws that might rein in their abuses. Just like credit card interest rates are through the roof, in the high teens for good customers and up to 30% overall, in advance of new regulation. A New York Times investigation...
News Release
11/10/2009
CONTACT CONTACT: Doug Heller, (310) 392-0522, ext. 309
Office Taped A Call About Handling of Mercury Insurance Initiative; AG Angry, Demeaning When Questioned By Reporters Santa Monica, CA — Consumer Watchdog has posted the transcripts of secretly taped conversations between journalists and Attorney General Jerry Brown or members of his staff. One transcript involves the attempt by the Attorney...