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Ludovic Bertron

Congressional Efforts To Remove Protections For Prepaid Debit Cards Fall Short

The window of opportunity has closed for legislative efforts to prevent new consumer protections from going into effect.  [More]

DoorFrame

Senators Officially Introduce Resolution To Reverse ISP Privacy Rule

Back in October, the Federal Communications Commission adopted a rule limiting what ISPs can or can’t do with your personal data. As expected, lawmakers are now attempting to overturn this new rule through use of the Congressional Review Act. [More]

Mike Mozart

Lawmakers Urge In-Depth Review Of Santander Bank’s Practices After Discrimination Allegations

Santander Bank has faced a number of issues in recent years, from an investigation into its auto loan business to receiving a $10 million fine over alleged illegal overdraft practices. More recently, the company received a failing grade from regulators when it came to its community lending business, prompting lawmakers to condemn the bank’s alleged discrimination and urge federal banking regulators to review the financial institution’s practices. [More]

Patrick Fagen

Congress Trying To Roll Back Consumer Protections For Prepaid Cards

Last fall, weeks before the election, the Consumer Financial Protection Bureau concluded a three-year process of trying to make prepaid cards less costly. Those new rules, which would improve transparency and curb runaway fees, are set to go into effect later this year, but not if lawmakers on Capitol Hill have their say.  [More]

Credit Bureaus Must Pay $6M, Fix Errors More Quickly Under 31-State Agreement

Credit Bureaus Must Pay $6M, Fix Errors More Quickly Under 31-State Agreement

The three largest companies to collect and disseminate credit information for millions of Americans – Experian, Equifax and TransUnion – must significantly change the way they treat disputed information on credit reports as part of a massive multi-state settlement announced this week. [More]

Why Is Big Corn Continuing To Run ‘Corn Sugar’ Ads Even After FDA Denial

Why Is Big Corn Continuing To Run ‘Corn Sugar’ Ads Even After FDA Denial

UPDATE: The Corn Refiners Association has issued a statement to Consumerist. It has been added to the bottom of the post.

[More]

Banks Shutting Down Branches In Poorer Hoods While Opening In Richer

Banks Shutting Down Branches In Poorer Hoods While Opening In Richer

The New York Times combed through the data and found that when the banks close branches, they’re doing it in poorer neighborhoods. And when they open a new branch, it’s more likely to be in a well-off area. While that makes business sense, it could violate the spirit of the Community Reinvestment Act which was passed to curb “redlining,” where lower-income neighborhoods are discriminated against by the financial services industry.

[More]