Predatory Lending

CFC supports re-regulation of credit markets, caps on payday loan interest rates, and assistance with loan restructuring and forgiveness for victims of predatory lenders.

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CFC supports equal protection for private student loan holders (SB 16)

September 28, 2017

If a borrower defaults on a private student loan, a creditor can garnish up to 25% of that borrower’s income. If a borrower defaults on a federal student loan, the maximum garnishment is 15%. SB 16 (Wieckowski) will ensure that the maximum garnishment is the same for…

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National General Insurance/Wells Fargo: California Consumer Group Files Petition to Reject Auto Insurance Rate, Investigate Fraud and Collusion

August 8, 2017

The Consumer Federation of California (CFC) filed a petition today with the California Department of Insurance (CDI) opposing an application by National General Insurance for a 6.9% increase in premiums for certain vehicle policies. Acting under Proposition 103, the CFC asked CDI to investigate National General’s automobile…

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CFC Opposes AB 380

March 29, 2017

CFC opposes AB 380 (Dababneh), which will make it easier for car dealers to engage in fraud and other predatory practices. Read more about the bill here. Read our opposition letter.

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CFC-Sponsored Ban Against Computer Spyware Signed Into Law

September 18, 2014

SACRAMENTO – Gov. Jerry Brown signed a bill sponsored by the Consumer Federation of California to protect consumer privacy by restricting the use of spyware on rented computers. Thanks to Assembly Bill 2667 (Richard Bloom, D-Santa Monica), consumers who rent a computer or similar electronic device in California…

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SB 1256: Brown Signs Curb On Medical Credit Scams

August 25, 2014

Health care patients would no longer be subject to exorbitant third-party credit charges arranged without their full knowledge and informed consent under a Consumer Federation of California-sponsored bill that passed a unanimous state Senate floor vote on Thursday, May 15, 2014.

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CFC supports nomination of Richard Cordray to head the Consumer Financial Protection Bureau

July 3, 2013

Cordray currently serves as director at the CFPB, but his appointment will expire if the Senate does not confirm him by the end of this year.

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AB 2006 Authorizes State Credit Unions to Provide Services to the Unbanked

June 19, 2012

AB 2006 (Perez) authorizes state-chartered credit unions to provide vital financial services to Californians who do not have bank accounts.

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