Each year, thousands of consumers file complaints against the nation’s three credit bureaus — Equifax, Experian, and TransUnion. Most of these complaints are related to inaccurate information on a consumers’ credit report and the difficult time they often have in getting this misinformation corrected. That could change with the proposed overhaul of the system. [More]
When Education Credit Management Corporation announced late last year that it would buy 56 of for-profit education chain Corinthian College Inc.’s Everest University and WyoTech campuses, consumer advocates expressed great concern that the new company – which would operate under the name Zenith – would continue the unfair practice of requiring students to sign away their right to seek any legal action against the company if they’re wronged. While ECMC ultimately said it would do away with the practice, new legislation aims to strengthen students’ legal rights when it comes to forced arbitration. [More]
New Bill Would Prevent FCC Commissioners From Jumping Ship To Companies Whose Mergers They Just Approved
Remember last May when then-FCC commissioner Meredith Atwell Baker (pictured at left) ruffled a lot of feathers by taking a job at Comcast, only a few months after approving the cable company’s controversial merger with NBC? Well, Congresswoman Maxine Waters hasn’t forgotten, and she’s introduced legislation aimed at preventing these kinds of obvious shenanigans.
Don’t take it personally if you can’t reach Bank of America to renegotiate your mortgage payments. Congresswoman Maxine Waters (D-CA) tried calling the bank on behalf of two constituents, only to be “repeatedly put on hold for long stretches, disconnected, transferred to extensions that did not work, and ultimately switched to a recording which directed her to the bank’s website.”