Consumerist
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oversight
Obama To Call For Financial Watchdog Agency
Tomorrow, President Obama is expected to call for the creation of a new watchdog agency that would help protect consumers from abusive credit card, mortgage, banking practices. The banking industry is not happy about the idea, reports CNN. But hey, they're just looking out for us: "It's bad for consumers," a banking industry lobbyist told the network. Oh, well, never mind then, and pass me some more delicious subprime! More » -
taxes
Congress Considers Partially Removing Tax Exemption On Employer Provided Health Benefits
Would you be willing to pay more in taxes in order to fund a more equitable health care program for the nation's uninsured? From MSNBC:
More »While details of such an approach are still sketchy, it would likely involve employees paying tax on a percentage of their employer-provided health benefits. So if Congress decided that all such premiums in excess of $11,000 for family plans would be taxable income, and your company paid premiums worth $16,000 for your coverage, you'd have to pay taxes on $5,000.
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Want to learn more about the Obama administration's new cybersecurity plans? @JeffreyFox of Consumer Reports is live-tweeting the press conference now. [Twitter]
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videos
Recap: Ben & Meg Interview Obama Administration On Credit Card Reform
Here, catch all of our interview with Austan Goolsbee breaking down why the credit card reform act was needed. If you missed any of the clips, here's is the four-part series in its entirety...
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2:21 PM on Fri May 22 2009
By Ben Popken
0 views, 36 comments -
obama
Automakers: Forget 35.5 MPG, We'll Just Improve A/C
President Obama wants car makers to start making 35.5 MPG cars by 2016. Instead of improving fuel efficiency, automakers could very well just take the cheaper road of making the A/C less wasteful, thanks to what Jalopnik calls "a hummer-sized loophole" in the federal regulations. [Jalopnik] (Photo: Simone Ramella) -
sec
New Consumer Agency May Steal SEC's Thunder
After the bang-up job the Security and Exchange Commission did to prevent Wall Street shenanigans from plunging the economy into the abyss, the White House is looking to form a new commission to step in and do the SEC's job. More » -
videos
Consumerist Interviews Goolsbee On Credit Card Reform: Part 4 of 4
The final installment of our 4-part interview on credit card reform with Austan Goolsbee, President Obama's senior economic adviser. In this one we say, hey, what about mandatory binding arbitration?
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10:47 AM on Wed May 20 2009
By Ben Popken
0 views, 24 commentsMost discussed Bladefist: Obama doesn't need a credit card, he prints his money more »
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videos
Consumerist Interviews Goolsbee On Credit Card Reform: Part 3 of 4
Are credit cards set up like a horrible game of Chutes & Ladders that plays for keeps? In the 3nd of our 4-part interview series with President Obama's Senior Economic Adviser, Austan Goolsbee, on credit card reform, we ask why credit card companies can raise the APR on stuff you already charged, and go into some of the credit card companies' anti-consumer tricks like liquid and fickle terms and conditions, penalty fees that aren't trying to discourage behavior anymore, they're just pure profit, and teeny-tiny contracts written in "Bank-o-nese."
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10:12 AM on Tue May 19 2009
By Ben Popken
0 views, 10 commentsMost discussed PersonalResponsibility: ...Still waiting for even one hardball question here. Just one that doesn't ask him to spin the political propaganda. It isn't more »
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credit cards
Bankers Threaten To Punish "Good" Cardholders If Reforms Pass
NYT: Bankers are warning they're going to have to "mean up" credit cards if the reforms expected to get voted on today go through. Among the ways people who pay off their bills in full every month and always follow the rules might get dinged:
- Charging interest immediately on a purchase
- Reinstating annual fees
- Further curtailing cash-back and other rewards programs, like frequent flyer miles
However it gets sliced, there will be fewer cards issued at a higher cost for those that hold them. "Those that manage their credit well will in some degree subsidize those that have credit problems," said Ed Yingling, American Bankers Association CEO. In other words, if we can't make ill-gotten gains off this one group, we'll have to find another way to make it up.Credit Card Industry Aims to Profit From Sterling Payers [NYT]
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videos
Consumerist Interviews Goolsbee On Credit Card Reform: Part 2 of 4
In the 2nd of our 4-part interview series with President Obama's Senior Economic Adviser, Austan Goolsbee, on credit card reform, we ask, what about the kids? Specifically, what is this bill going to do about those guys giving away shirts on campus in exchange for signing up for credit cards? Because these seems a really great service for college students, who, as we know, frequently go shirtless. Also, how one side of the debate on credit cards is essentially arguing that if you didn't want to get carjacked you should have taken the bus... because an honest business model and a profitable one needn't be mutually exclusive.
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1:40 PM on Mon May 18 2009
By Ben Popken
0 views, 32 commentsMost discussed badhatharry: Ben, why does your jacket have an extra pocket? more »
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goolsbee
Goolsbee Video Fixed
If you had problems viewing the Goolsbee interview, this here video should work for you now. [Consumerist] -
videos
Consumerist Interviews Goolsbee On Credit Card Reform: Part 1 of 4
We took your credit card reform questions to DC yesterday and interviewed Austan Goolsbee, senior economic adviser to President Obama. In part 1 of our 4-part series, we ask how are banks getting billions in bailouts and can turn around and cut off millions of credit cards and raise rates? How does it make sense that credit card companies can raise the interest rate on an existing balance? And, most importantly, why don't we treat credit cards more like Canadians do cigarettes?
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3:16 PM on Fri May 15 2009
By Ben Popken
0 views, 22 commentsMost discussed DanGarion: FYI, only reason I bring this up, is it seems to happen a lot, that I see a post, and more »
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videos
Consumerist Interviews Goolsbee About Credit Card Reform: Part 1 of 4
We took your credit card reform questions to DC yesterday and interviewed Austan Goolsbee, senior economic adviser to President Obama. In part 1 of our 4-part series, we ask how are banks getting billions in bailouts and can turn around and cut off millions of credit cards and raise rates? How does it make sense that credit card companies can raise the interest rate on an existing balance? And, most importantly, why don't we treat credit cards more like Canadians do cigarettes? More »
3:15 PM on Fri May 15 2009
By Ben Popken
0 views, 59 commentsMost discussed Zclyh3: gn. Mg lks ht! nd n tht's nt why cm t ths st. ND YS dntd lrdy. more »
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credit card reform
Liveblog Transcript From Obama's Credit Card Reform Town Hall
Our fearless co-leader Ben just sent us this link from the Consumerist Washington delegation. The New Mexico Independent sent a reporter to liveblog today's credit card reform town hall meeting at a high school in Rio Rancho, NM. The transcript includes comments and questions from readers, and also comments from national and regional consumer advocates. More » -
consumerist goes to washington
Get Informed About Credit Card Reform
As we prepare to talk credit card reform with the Obama folks, we want to make sure you're all able to follow along at home. Inside, we present a cornucopia of fact sheets, charts, and links about the fight for credit card reform. More » -
consumerist goes to washington
Austan Goolsbee Confirmed For Consumerist Interview
We've got the senior policy guy we're interviewing on Thursday in DC about credit card reform confirmed, it will be Austan Goolsbee, senior economic adviser to Obama. We'll be shooting it in the Eisenhower Executive Office Building next to the White House. This should make for a good interview! Besides lengthy academic credentials in business and behavioral economics, Goolsbee often acts as Obama's surrogate, is an extemporaneous debate champ, Skull & Bones member, and from Chi-town, so Meg can rap with him about sport peppers. -
consumerist goes to washington
Send Us Your Credit Card Questions So We Can Ask 'Em At The White House
Consumerist is going to the White House this week, and we need your help! Ben and Meg are hitting Washington to do an on-camera interview of a senior policy official in the Obama administration about the new credit card reforms and consumer protections getting pushed through Congress and what they mean for you. Besides our questions, we want to ask your questions about credit card reform, credit card companies, and present tales of credit card woe. Leave your queries in the comments, or send them to tips@consumerist.com, subject line "credit card reform." If you want to submit your question by uploading a video to YouTube and sending in the link, that'd be swell because then we can splice them into our video.
(Photo: afagen)
UPDATE: We'll be talking to Austan Goolsbee, senior economic adviser to Obama.
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breaking
Obama Picks CPSC Head So They Can Finally Do Their Job
Obama nominated Inez Moore Tenenbaum as Consumer Product Safety Commission (CPSC) head and Robert Adler as commissioner. He is also also Congress for $107 million more in funding and plans on beefing up the total number of commissioners to five. [Reuters] (Photo: ashi)
obama
New York, 10:03 PM
Fri Jul 3
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