Regulating consumer predators is a bit like Whac-a-Mole. No matter how many times you put the bad guys out of business, they keep popping up again and again. Maybe it is time to consider a lifetime ban from financial services for the worst offenders. The Consumer Financial Protection Agency proposed by the President may be just the right watchdog for the job of handing out such banishments.
Andrew’s car was towed from Stabucks’ parking lot as he sat inside enjoying his drink. The Portland Starbucks apparently has a contract with a local predatory towing company that allows them to walk in, call out a bunch of license plate numbers, and tow any car whose owner doesn’t speak up.
Predatory Tow trucks are prowling about Florida, looking to gin up extra cash by hauling perfectly good cars to salvage yards. The tow truck operators make up to $100,000 each year by preying on seemingly abandoned cars. By the time the rightful owners start asking questions, their cars are already cubes.
Investigators say salvage yards aren’t held responsible as long as they get the proper paperwork.