Shhh, everyone, gather near and listen to Treasury Secretary Timothy Geithner deliver the most beautiful, wonderful mandate we could give to a new federal agency: “The agency will have only one mission—to protect consumers.” And with that, the Treasury Department sent to Congress legislation that will create the brand new Consumer Financial Protection Agency.
consumer protection
G.M. Agrees To Remain Responsible For Shoddy Cars After Bankruptcy
By 6.28.09
General Motors has reached an agreement with the government to let consumers file what are known as product-liability claims after the company escapes from bankruptcy protection. The big win for consumers means that if a manufacturing defect in an old G.M. causes injuries in the future, consumers will still be able to sue G.M. in state court.
Iowans To Get Wishy Washy Consumer Bill Of Rights
By 5.16.09
Good news, Iowans! Your legislature has decided to enact a consumer bill of rights giving you the power to sue businesses that commit fraud. Unless, of course, you’re going after banks, attorneys, insurance providers, doctors, cable companies, telecoms, utilities, veterinarians, realtors, charities, architects, or certain retailers. Still, the bill isn’t entirely useless…
Gift Card Settlement Refunds Quarter Million Dollars In Inactivity Fees
By 1.6.09
A Connecticut mall has to pay $259,000 in settlement fees to consumers who bought gift cards that had monthly inactivity fees.
Time To Bring Back The Consumer Czar
By 1.5.09
Last month, several consumer groups sent President-elect Obama a letter detailing a pro-consumer agenda for the new administration and Congress. One of those suggestions, supported by an editorial in today’s New York Times, is reinstating the position of special assistant to the President on consumer affairs, also known as the consumer czar.
Pro-Consumer Regulation Needs Real Teeth So You Can Sue The Jerks
By 11.3.08
If the recent economic meltdown has a bright spot, it is the possibility that smart regulation may return. There will always be those who will cheat if they can, putting both consumers and the market at risk. It cannot function properly without regulation to prevent cheating and ensure consumers are getting a fair deal. But without a private right of action and attorney fees, consumer protection regulations are nearly worthless. A “private right of action” means…
Interview: Ralph Nader Says We're Living Under Corporate Fascism
By 3.28.08
On activism: You want a better country, you’ve got to spend more of your time more time away from american idol, and more time on your members of Congress. We’re millions of people, but corporations don’t have a single vote, and members of congress are there because of our votes, so make those votes count.
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.
Home Depot Caught Refusing To Issue "Rain Checks"
By 5.23.07
A Home Depot store has been fined $1500 for refusing to issue rain checks for items that were advertised on sale, but were not available for purchase. Many communities have regulations that state that if an item is advertised as being on sale without mentioning a specific limited quantity, the retailer has a legal obligation to issue a rain check that will allow the customer to purchase the item later for the sale price.
