According to science, even the President is more popular than mandatory binding arbitration. A recent poll shows that Americans hate everything about the extrajudicial resolution system, from its inescapable omnipresence, to its unappealable decisions that rob consumers of their day in court. The poll provides a refreshing contrast to a different study commissioned by the U.S. Chamber of Commerce, which found that Americans love mandatory binding arbitration more than pie.
congress
Republicans Have Killed The Passenger's Bill Of Rights. Long Live The Passenger's Bill Of Rights!
By 5.7.08
Get ready to spend nine hours on the tarmac without food or water. Senate Republicans yesterday shoved the Passenger’s Bill of Rights into the chamber’s overhead bin, killing off hope that the bill will pass before the elections. Even worse, the shot-down bill had transformed into a gleaming marvel of consumer protection.
Passenger's Bill Of Rights Taxis Toward Passage
By 4.27.08
The Passenger’s Bill of Rights returns to the Congressional spotlight late tomorrow afternoon, but the bill isn’t yet strong enough to deserve passage.
Recalled Heparin Contaminant Confirmed, And Congress Grills FDA On Inspections
By 4.24.08
Researchers have identified the chemical in the contaminated blood thinner Heparin that killed 81 people in the U.S. and made patients here and in Europe sick:The researchers freeze-dried the heparin and used a combination of nuclear magnetic resonance imaging and liquid chromatography-mass…
Consumers Finally Allowed To Speak Out Against Abusive Credit Card Practices
By 4.19.08
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.
USDA Accused Of Bullying Inspectors Who Reported Safety Violations
By 4.18.08
First the FAA makes their own inspectors cry in front of Congress and now the Associated Press says that the head of the federal inspectors’ union is alleging that the USDA told him to “drop the matter” when he reported food safety violations at slaughterhouses. When he refused, he was placed on “disciplinary investigative status.”
Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System
By 3.29.08
Treasury Secretary Henry Paulson wants to consolidate the nation’s financial regulators into a tripartite gang that can save the economy from distress and doom. The plan to give the Federal Reserve broad new regulatory powers and streamline the regulatory community has been in the works since last March, before the start of the subprime meltdown. Paulson is worried that the U.S. markets are no longer competitive with maturing world markets, some of which aren’t hampered by nuisances like regulation. After the jump we’ll explain the consumer impact of the plan and introduce you to your three new regulators.
Carriers Promised Congress They'd Pro-Rate ETFs; Senator Asks Them, "When?"
By 3.14.08
In a letter to Sprint, AT&T Mobility, and T-Mobile, Sen. Amy Klobuchar (D-Minn.) has asked the companies whether or not they’re going to start pro-rating their Early Termination Fee policies as promised, reports RCR Wireless. “Sens. Klobuchar and Jay Rockefeller (D-W.Va.) are co-sponsors of a sweeping wireless consumer protection bill” that carriers are against. In her letter, Klobuchar writes, “It is time for the wireless companies to adhere to the assurances they made to the American consumer and start pro-rating these fees.” In response, Sprint said by the end of Q2 2008, T-Mobile said the first half of 2008, and AT&T Mobility said nothing at all. (Verizon already pro-rates their ETF.)
Did FAA Allow Southwest To Fly Unsafe Planes To Avoid Flight Disruptions?
By 3.7.08
Yesterday the FAA sought $10.2 million in civil damages from Southwest Airlines for neglecting to inspect the fuselages of 46 of its planes.
Telemarketers Weep As President Signs Do Not Call Improvement Act
By 2.20.08
Never again will you have to worry about renewing your Do Not Call List registration thanks to Public Laws 110-187 and 110-188. Our newest laws provide a permanent stream of funding for the Do Not Call List and guarantee that registrations will never expire. Read the White House’s ebullient press release, after jump.
House Passes Bill That Would Require Colleges To Practice Network Filtering
By 2.12.08
Last week the House voted 354-58 to approve a college funding bill that requires colleges to “make plans to offer some form of legal alternative to P2P file-swapping” and to implement some form of network filtering. Luckily for sane people everywhere, the White House has already made veto-noises at the bill for other reasons—but still, the MPAA came that much closer to forcing its admittedly false worldview on universities.
Attention Shoppers: The Consumer Product Safety Commission Has Run Out Of Power
By 2.9.08
The temporary law powering the CPSC has expired, reducing our supposed watch-dog agency to a neutered shadow that can’t adopt new safety standards, order mandatory recalls, or enforce existing consumer protection laws. The Commission could get back to work with three small tweaks.
Maloney Introduces Credit Card Bill Of Rights; Lending Institutions Smirk
By 2.9.08
The Credit Card Bill Of Rights Act, which was introduced on Thursday in the U.S. House of Representatives, would limit interest rate hikes and late fee penalties that credit card companies use to unfairly squeeze profits from customers.
Health Group Asks Congress To Create National Drug Data Resource
By 1.25.08
The U.S. Institute of Medicine called on Congress today to “establish a single national resource of health information.” The resource would collect all available data on every drug in the marketplace, and be available to consumers to educate themselves about any and all possible treatments in order to make better-informed decisions with their doctors.
By 1.21.08
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Some libertarian-flavored analysis of the mortgage crisis, from Credit Slips:
If my lugubrious predictions prove true, there will be a measurable–possibly quite large–impact on the market. Such rules will make mortgage lending less profitable to everyone in the system-so the number of mortgages written will decline and those that are written will be marginally more expensive. It will winnow the number of mortgage brokers and so remove some who have committed fraud in writing mortgages. It will make investors upstream think twice about buying a debt that carries not only a fraud claim but also the possibility of tort liability for too generous lending, and even a lasting stain (for debt liability) that cannot be removed by assignment to another.
Congress Asks Pfizer: Why Is Dr. Jarvik Qualified To Pitch Lipitor?
By 1.9.08
Dr. Robert Jarvik is the inventor of the Jarvik artificial heart, right? You know that because he’s the pitch-man for Lipitor, a heavily advertised cholesterol drug. Have you ever stopped to ask yourself why inventing an artificial heart qualifies the man to pitch a drug?
Consumer Groups Support National Banking Complaint Hotline
By 1.3.08
Consumers Union and Consumer Federation of America both threw their support behind Rep. Carolyn Maloney [D-NY]’s “Financial Consumer Hotline Act of 2007,” a proposal to establish a single national hotline where consumers can file complaints against any financial institution. Currently there are five different federal agencies who regulate the banking industry, each with its own system for collecting and addressing complaints.
