Search results for: arbitration

DCvision2006

Financial Protection Bureau Finalizes New Rules To Curb Predatory Lending, But Will Congress Let It Happen?

In an effort to rein in short-term, high-cost loans that often take advantage of Americans who need the most help with their finances, the Consumer Financial Protection Bureau has finalized its new rule intended to make these heavily criticized financing operations to be more responsible about the loans they offer. But will bank-backed lawmakers in Congress use their authority to once again try to shut down a pro-consumer regulation? [More]

JeepersMedia

Sonic Confirms Payment System Attack, Offers Pointless Credit Monitoring

As we learned last week based on information from people in the banking industry, payment cards used at Sonic Drive-In locations have been linked to suspicious transactions. Sonic confirmed today that its payment systems were indeed breached in a malware attack, potentially by crooks seeking payment card numbers. [More]

Monopoly Guy’s Presence Dramatically Improves Senate Hearing

Monopoly Guy’s Presence Dramatically Improves Senate Hearing

If you were probably watching this morning’s Senate hearing on the Equifax hack, you may have seen something out of the corner of your eye and asked, “Did I just see Rich Uncle Pennybags from Monopoly sitting behind the Equifax CEO?” Yes, yes you did. [More]

Kārlis Dambrāns

Supreme Court Allows For Rare Win In Customers’ Lawsuit Against Samsung

The Supreme Court has a long history of ruling against consumers when it involves a company’s attempt to strip its customers of their right to a day in court, but this week the nation’s highest court decided to not hear an appeal in a lawsuit involving Samsung, marking a rare instance in which SCOTUS came down on the consumers’ side in this issue. [More]

Joe Gratz

Chamber Of Commerce Files Lawsuit To Stop American Consumers From Being Able To File Lawsuits

The U.S. Chamber of Commerce may sound like a government agency or a quaint organization of helpful business leaders, but it is, in fact, the single largest lobbying organization in the country, spending nearly $104 million last year alone on lobbying, about $40 million more than any other group. The Chamber also thinks the U.S. Constitution is mistaken, that the Sixth and Seventh Amendments don’t apply to consumers; that the mere fact you are a customer should strip you of your constitutional right to sue banks like Wells Fargo or credit bureaus like Equifax when they open millions of bogus accounts in customers’ names or fail to protect sensitive information for more than 100 million people.

And how does the Chamber of Commerce plan to stop the American people from being able to bring lawsuits? By doing the one thing it doesn’t want you to be able to do. [More]

Mississippi Snopes

Equifax CEO Apologizes For Company’s Incompetence, Promises Vague (Possibly Pointless) Credit ‘Lock’ Service In 2018

The interim CEO for credit bureau Equifax is finally issuing a full-throated mea culpa for the massive data breach that compromised sensitive personal and financial information for about half of the adult U.S. population. In addition to extending the deadline for hack victims to freeze their credit free of charge or sign up for the company’s not terribly enticing anti-ID theft program, Equifax is also promising to offer something new: A way to “lock” your credit file (sort of, maybe, and only partially) for free (possibly). [More]

Mr Seb

Equifax Says Site Vulnerability Behind Massive Breach; FTC Confirms Investigation

It’s been a week since credit reporting agency Equifax admitted it had lost sensitive personal data for 143 million American consumers — one of the worst data breaches yet. Now, the company says it knows how the intruders got in… and it’s through a bug that was first identified six months ago. [More]

Equifax Drops Controversial Condition From Free Credit Monitoring Service

Equifax Drops Controversial Condition From Free Credit Monitoring Service

While the free credit monitoring service being offered by Equifax to the millions victims of its massive data breach leaves a lot to be desired, the company is remedying one of the more controversial aspects of the program — a condition that stripped consumers of their right to file a lawsuit in court. [More]

Don’t Take Equifax Up On Its Credit Monitoring Offer

Don’t Take Equifax Up On Its Credit Monitoring Offer

As anyone able to tear themselves away from hurricane bulletins last week knows, credit reporting bureau Equifax shared the news that the personal information of 143 million Americans was compromised earlier this year. Yet while plenty of companies, including Equifax itself, are happy to give or sell you credit monitoring services after such a massive breach, that doesn’t mean you should take them up on it. [More]

Equifax Already Being Sued Over Massive Breach; Company Criticized For Amateurish Response To Theft

Equifax Already Being Sued Over Massive Breach; Company Criticized For Amateurish Response To Theft

Within hours of Equifax — one of the nation’s three major credit bureaus — confirming that the records of some 143 million people had been compromised in a data breach, the company now faces a lawsuit accusing it of failing to protect its stockpile of sensitive consumer information. Meanwhile, some critics are saying that Equifax’s response to the breach may be causing more harm than good. [More]

Freaktography

More Than 1-In-4 Nursing Home Abuse Cases May Go Unreported To Police

Just as the Trump administration is attempting to prevent nursing home residents or their families from ever being able to sue longterm care facilities for neglect or fraud, a federal audit claims that an alarming percentage of physical and sexual abuse cases at nursing homes may be going unreported to law enforcement. [More]

Elliott Brown

Federal Appeals Court Is Okay With Uber Taking Away Customers’ Right To Sue

Like companies in just about every industry, the ride-hailing app Uber requires users to agree that they will take any disputes to an arbitrator rather than the legal system. And although you may never have noticed this clause, a federal appeals court has now ruled that customers receive “reasonably conspicuous” notice about the arbitration requirement. [More]

Freaktography

31 Senators Ask Trump Administration To Not Strip Nursing Home Residents, Families Of Their Legal Rights

Nursing homes and assisted living facilities in the U.S. have faced increasing criticism for shoddy care and bad business practices. At the same time, many of these facilities have begun using contractual language that explicitly prohibits residents or their loved ones from filing lawsuits when things go wrong. Now dozens of senators are calling on the Trump administration to rethink its decision to let this practice continue. [More]

(J.G. Park)

House Votes To Strip Bank & Credit Card Customers Of Constitutional Right To A Day In Court

Because the Sixth and Seventh Amendments of the U.S. Constitution are apparently less important than making sure that banks, credit card companies, student loan companies, and other financial services be allowed to behave badly with impunity, the House of Representatives has voted to overturn a new federal regulation that would have helped American consumers hold these companies accountable through the legal system. [More]

(SarahMcGowen)

Don’t Strip Consumers Of Their Right To A Day In Court, Say Advocates, Senators

Last week, bank-backed lawmakers revealed their plans to pass fast-track legislation that would undo the Consumer Financial Protection Bureau’s recently finalized rules that prevent banks and other financial institutions from stripping customers of their constitutional right to a day in court. Now, consumer advocates are urging the rejection of the legislation, expected to be voted on this week.  [More]

photographynatalia

Lawmakers Who Want To Hand ‘Get Out Of Jail Free’ Card To Banks Made Millions From Financial Sector Last Year

As expected, Republican lawmakers in both the House and Senate have introduced legislation that would overturn new rules intended to make sure that bank and credit card customers aren’t stripped of their right to file lawsuits in a court of law. Not surprisingly, many of the politicians pushing this pro-bank bill recently received significant financial support from the financial sector. [More]