How can a financial company become a threat to the entire economy? If its failure would be catastrophic for the economy and the financial system, it’s considered “too big to fail.” That concept was formalized as part of the Dodd-Frank financial legislation of 2010, and the government has special requirements for institutions considered too big to fail. Today, a federal court ruling was unsealed where a judge ruled that the government didn’t sufficiently prove that one such company, MetLife, really fit the requirements. [More]
This story isn’t just about possible malfeasance by MetLife insurance in Massachusetts. It’s also a good example for why screwed-over consumers should file complaints with regulatory agencies. [More]
Millions of Americans have lost their homes in the last few years and — as any reader of Consumerist knows — the banks who foreclosed on those properties have also made more than their fair share of errors. Thus, starting today, 14 of the country’s largest mortgage servicers are contacting millions of foreclosed-upon former homeowners to offer them the opportunity to have their cases independently reviewed. [More]
To try to lure customers back into the dealership, GM is trying out a novel idea. They’re giving new car buyers a free year of car insurance with their purchase. [More]
“My girlfriend Lindsey recently purchased a brand-spanking new Toyota Yaris, which she affectionately refers to as “Yar-i.” This car was a much needed sigh of relief after a string of terrible lemon cars for her. This thing was her pride and joy. Along with buying the car, she signed up for MetLife car insurance for $900 to cover herself for about 9 months.
Why are insurance forms and regulations written at the 27th grade level? We’re not sure if even Metlife knows. Reader Tim certainly doesn’t, all he knows is Metlife can’t figure out how to get his dang teeth replaced. Sadly, the three teeth wouldn’t need implants if it weren’t for the first dentist delaying in removing the first tooth.