Toyota Knew About Sticking Pedals In Europe A Year Before U.S. Accidents

Toyota Knew About Sticking Pedals In Europe A Year Before U.S. Accidents

Today’s Toyota hearings featured a lot of amusing defensive yelling by Transportation Secretary Ray LaHood and, of course, the long awaited testimony by Toyota President Akio Toyoda. In addition, Yoshimi Inaba, CEO of Toyota North America, revealed that the company knew of the sticking pedal issue in Europe a year before accidents in the US. [More]

Bank Of America CEO:  We Had To Acquire Merrill Lynch To Save The Economy

Bank Of America CEO: We Had To Acquire Merrill Lynch To Save The Economy

Are you a Bank of America shareholder who is angry at CEO, (and former chairman of the board) Ken Lewis for going ahead with the Merrill Lynch deal? Well, you’re just mean. It wasn’t his fault. At least, that’s what he’s just testified before the House Committee on Oversight and Government Reform.

Consumers Finally Allowed To Speak Out Against Abusive Credit Card Practices

Consumers Finally Allowed To Speak Out Against Abusive Credit Card Practices

Consumers were finally allowed this week to testify in favor of a proposed Credit Cardholders’ Bill of Rights without being forced to sign waivers allowing their creditors to release private financial records to the public. The three cardholders who testified lambasted their credit card companies for penalizing them even though they abided by their cardholder agreements.

Credit Card Victims Muzzled, Ordered To Release Financial Histories Before Sharing Their Experiences

Credit Card Victims Muzzled, Ordered To Release Financial Histories Before Sharing Their Experiences

Four credit card victims were ordered to sign waivers allowing their creditors to release their private financial records to the public before they could testify before the House Financial Services Committee. The consumers had flown in from across the country to share their stories at a hearing on the Credit Card Bill of Rights, but credit card companies insisted—and Republicans and Democrats agreed—that it would only be fair to release documents like credit scores and a list of recent purchases in order to rebut the consumer’s claims. “Fair is fair,” Congressman Spencer Bauchus (R-AL) barked, as he defended the absurd request. Ultimately, the consumers didn’t testify, but one invitee, Steven Autrey, released his prepared statement, which slams creditors for their abusive and predatory business practices.

FTC Vows Not To Expire Numbers From The Do Not Call List

The FTC will vow in Congressional testimony today not to purge numbers on the Do Not Call List while Congress considers making registrations permanent. Do Not Call registrations currently last for five years, and are set to start expiring in April 2008 despite the list’s broad popularity: 92% of Americans have heard of the list, 76% have added their number, and 92% claim to receive fewer calls marketing calls. Lydia Parnes, Director of the FTC’s Bureau of Consumer Protection, appearing before the House Energy and Commerce Subcommittee on Commerce, Trade, and Consumer Protection will hail the list for ‘restoring the sanctity of the American dinner hour.’