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.
news from the swamp
IRS Sends 15,000 Stimulus Checks To The Wrong Bank Accounts
By 5.17.08
That economic stimulus check you were expecting may have accidentally stimulated your neighbor’s bank account. Newsday is reporting that 15,000 checks tumbled astray thanks to an IRS “computer programming glitch.”
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.
Government Cracking Down On Anti-Consumer Credit Card Practices
By 5.2.08
In a surprising departure from the norm, the government is actually cracking down on some of the more egregious credit card practices. Usually they say that including more tiny print is sufficient enough consumer protection. Some things they’re addressing: creating a mandatory minimum payment period, forbidding double-cycle billing, and prohibited APR from being raised on an outstanding balance. The proposals are simply that, proposals, at this point, with finalization expected by year’s end, and we’ll see what happens after all the exceptions and industry lobbying groups get factored in the equation. The specific anti-consumer credit card practices getting attacked, inside…
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.
Senate Committee Votes To Rollback FCC's Media Consolidation Plan
By 4.26.08
Poor Kevin Martin. The Senate is well on its way towards killing his proposal to let newspapers get all freaky and consolidate with television and radio stations. Martin shouldn’t be too surprised: this is exactly what happened the last time a FCC Chairman tried to ram media consolidation down our throats.
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.
By 3.31.08
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As the Federal Housing Authority is called upon to help stem the tide of foreclosures, its top official Alphonso R. Jackson has resigned amidst allegations that he gave cushy housing contracts in the Virgin Islands and New Orleans to his pals. [NYT]
"Free iPod" Claims Cost Spammer $2.9 Million
By 3.21.08
The FTC slammed nuisance advertiser ValueClick with a record-breaking $2.9 million fine for littering the internet with deceptive ads for free iPods, PS3s, and plasma TVs. Instead of providing freebies, ValueClick tricked people into signing up for useless services and then failed to safeguard their personal information.
Credit Card Victims Muzzled, Ordered To Release Financial Histories Before Sharing Their Experiences
By 3.16.08
Four credit card victims were ordered to sign waivers allowing their creditors to release their private financial records to the public before they could testify before the House Financial Services Committee. The consumers had flown in from across the country to share their stories at a hearing on the Credit Card Bill of Rights, but credit card companies insisted—and Republicans and Democrats agreed—that it would only be fair to release documents like credit scores and a list of recent purchases in order to rebut the consumer’s claims. “Fair is fair,” Congressman Spencer Bauchus (R-AL) barked, as he defended the absurd request. Ultimately, the consumers didn’t testify, but one invitee, Steven Autrey, released his prepared statement, which slams creditors for their abusive and predatory business practices.
Senate Votes For Safer Products, Approves Consumer Product Safety Commission Overhaul
By 3.8.08
The Senate finally voted last week to send the ailing Consumer Product Safety Commission desperately needed funds, staff, and powers. The overdue reform bill passed with bipartisan support on a 79-13 vote.
The Administration's New Subprime Mitigation Plan: Take 30 Days To Pack Your Bags
By 2.23.08
The compassionate conservatives helming our government have an ingeniously simple new plan for homeowners facing foreclosure: take 30 days, pack your bags, and then get the !@#$ out.
Senate CPSC Reform Compromise Leaves Everyone Bitter, Unsatisfied
By 2.21.08
Nobody likes the compromise reached by Senators to reform the Consumer Product Safety Commission. Industry thinks the revised plan goes too far, while consumer groups want more. For now, the compromise would allow the CPSC to operate without a quorum, inject needed cash into the Commission, and provide for several other nifty provisions.
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.
Stimulus Checks Will Not Cut Into Your Rebate
By 2.13.08
False reports have circulated that the stimulus checks are an advance on your tax rebate and were going to cut into your tax rebate. That’s not the whole story. Yes, it’s an advance, but it’s an advance on an additional credit Congress passed for your 2008 earned income. It’s too late to do that for 2007, seeing as it’s already over. “So the government is making me borrow from myself?!?!?” No. Congress is giving your 2009 self a $600 credit, and is sending that $600 back in time by one year.
It Costs $134 Million To Make $80 Million In Pennies
By 2.11.08
Guess it’s time to start making ’em out of plastic. Transcript, inside…
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.
