Category Archives: Latest In Consumer News
Trump’s rollback of the investment conflict-of-interest rule is a direct attack on middle-class savings
by Michael Hiltzik, Los Angeles Times
The [rollback] ostensibly is to give policymakers time to review the rule and revise it if necessary. If you think the result of this process will be to make the rule more worker-friendly and less forgiving for banks, insurance companies and stockbrokers, then you don’t know your Trump. Read More ›
Student loan servicer hit with three government lawsuits in one day
by Danielle Douglas-Gabriel, The Washington Post
A multiyear investigation into the business practices of Navient and its subsidiaries found widespread breakdowns in servicing, according to the CFPB and two state attorneys general who also filed suit. Read More ›
GOP tells FCC to just stop what it’s doing until inauguration
by Jon Brodkin, Ars Technica
Republicans in Congress have urged the Federal Communications Commission to avoid passing any controversial regulations between now and Donald Trump’s inauguration as president. Read More ›
FCC Adopts New Privacy Rule, Limits What ISPs Can Do With Your Data
by Kate Cox, The Consumerist
“Consumers should not have to be network engineers to understand who is collecting their data, and they should not have to be lawyers to understand if their information is protected. So it is incumbent upon every policy-maker with privacy authority to think about how to make our policies more simple and more consistent,” wrote Commissioner Jessica Rosenworcel. Read More ›
DeVry University Must Stop Claiming That 90% Of Grads Get Jobs
by Ashlee Kieler, The Consumerist
The settlement stems from a Department of Education request that the school provide data and other information to substantiate the 90% claim. After reviewing the information that DeVry provided, the Federal Student Aid office found that the school could not provide evidence to support the claims. Read More ›
These Are The Privacy Rules Your ISP Might Soon Have to Live By
by Brian Fung, Washington Post
Should the government impose new rules on Internet providers to protect your privacy online? That will be the subject of an Oct. 27 vote by the Federal Communications Commission, the nation’s top broadband regulator. Read More ›
CFC Applauds FCC Chairman Wheeler’s Broadband Privacy Proposal
The FCC Chairman’s proposal would prohibit Broadband Internet Access Service (BIAS) providers from sharing sensitive information without a consumer’s consent. The proposal also requires BIAS providers to inform consumers about what information they collect and with whom that information is shared. Read More ›
AT&T Stops Charging Broadband Users Extra For Privacy
by Karl Bode, TechDirt
While AT&T claims it’s just concerned about “simplicity,” the real reason is because the FCC is considering some basic privacy protections for broadband users, who often can’t vote against bad behavior with their wallet thanks to the lack of competition in the broadband space. Read More ›
CFC Announces Endorsements in November 2016 Legislative Races
Consumer Federation of California (CFC) has endorsed these candidates for election in November 2016: Assembly District 24: Vicki Veenker (D) Assembly District 27: Ash Kalra (D) Assembly District 65: Sharon Quirk-Silva (D) Senate District 3: Mariko Yamada (D) Senate District 15: Jim Beall (D) (Incumbent) The endorsements … Read More ›
CFPB Has Handled 1 Million Consumer Complaints
Five years in and a million complaints down. That is the story the CFPB is putting out today — since having been founded in 2011, the Consumer Finance Protection Bureau has handled over one million consumer complaints, a milestone they sailed past earlier this month. Read More ›
Even Generic Drug Prices Are Going Through The Roof
by Katie Gibson, CBS Moneywatch
Generic versions of popular or vital drugs have been a partial bright spot amid a public outcry over pharmaceutical companies jacking up the prices by astronomical proportions. But generic-drug manufacturers are also getting in on the price-hiking action. Read More ›
Save Social Security! Group Accused of Scams Targets N.J. Seniors
by Karin Price Mueller, NJ.com
A complaint-laden organization that solicits donations nationwide is making a play in New Jersey. The letter had many warning signs of a scam: telling the recipient to “rush,” saying the recipient had been “specially selected” and saying the mailing was “exclusive.” Read More ›
Wells Fargo To Pay $185 million Settlement For ‘Outrageous’ Sales Culture
by James Rufus Koren, Los Angeles Times
Calling it “outrageous” and “a major breach of trust,” local and federal regulators hammered Wells Fargo & Co. for a pervasive culture of aggressive sales goals that pushed thousands of workers to open as many as 2 million accounts that bank customers never wanted. Read More ›