CFAnews Update – August 15, 2017

CFPB Finalizes Rule on Forced Arbitration A new game-changing rule that will help stop scams against consumers was issued by the Consumer Financial Protection Bureau (CFPB) in July.  The rule bans banks and financial companies from inserting certain “forced arbitration” clauses in credit card, auto loan, student loan, payday loan, and other financial contracts. These … Continued

Happy 6th Birthday CFPB!

Watch this video Senator Elizabeth Warren made for the CFPB’s 6th birthday: Check out this video made by U.S. PIRG celebrating CFPB’s birthday:

CFAnews Update – July 7, 2017

FCC Proposes Rules for Blocking Robocalls The Federal Communications Commission (FCC) is considering ways to help consumers who are overwhelmed with unwanted robocalls by clarifying that all providers may block fraudulently spoofed calls under certain circumstances. CFA and several other consumer groups submitted comments last week supporting the Commission’s proposal but urging it to do … Continued

CFAnews Update – June 28, 2017

USDA Proposes to Ease Restrictions on Chinese Chicken Imports  The Department of Agriculture’s Food Safety and Inspection Service (FSIS) released a proposed rule earlier this month that would allow the People’s Republic of China (PRC) to export cooked chicken products derived from poultry slaughtered in the PRC.  “This rule defies common sense. Taxpayers spend billions … Continued

California Broadband Internet Privacy Bill a Model for the States

The repeal of the Federal Communication Commission’s (FCC) broadband privacy rules was a sad day for Americans, but there was a silver lining. The resulting public outcry was the loudest that I’ve ever heard in many years of trying to promote privacy rights; clear and tangible evidence that people really do care about their data … Continued

CFAnews Update – June 2, 2017

No More Delays for DOL Fiduciary Rule In a significant victory for retirement savers, Secretary of Labor Alexander Acosta announced late last month that implementation of the Department of Labor’s fiduciary rule would begin as scheduled June 9. As a result core provisions of the rule – closing loopholes in the definition governing who is … Continued

Stop the Filthy Food Act

Americans deserve safe food. However, a bill making its way through Congress would prevent agencies from putting in place food safety regulations to protect public health. The bill’s proponents have maintained that food safety regulations highlight why S.951—formally titled the Regulatory Accountability Act of 2017, but more accurately dubbed the Filthy Food Act— would not … Continued

CFAnews Update – May 24, 2017

Senate Committee Passes Bills to Undermine Regulatory Process Over strong opposition from a wide range of public interest groups, the Senate Homeland Security and Governmental Affairs Committee passed several bills last week that would make it more difficult for federal agencies to adopt pro-consumer regulations. Two of the bills – the Midnight Rules Relief Act … Continued

CFAnews Update – May 17, 2017

Advocates Gather in D.C. for Lobby Day, Consumer Assembly More than 100 consumer advocates from 34 states gathered in Washington, D.C. for a “lobby day” earlier this month to urge members of Congress to oppose legislation that would harm consumers in their communities. In particular, the advocates called on Congress to reject legislation that would … Continued

Stop Forced Arbitration from Denying Fraud Victims Justice

In April 2011, four months after Shariar Jabbari opened two accounts with Wells Fargo, bank employees used his personal information to open two more accounts without his knowledge or consent, transferring $100 to each of them from one of his legitimate accounts. A few months later, five more accounts were fraudulently created in his name. … Continued

Increasing Off-Highway Vehicle Road Access Puts Lives at Risk

As the name implies, off-highway vehicles (OHVs) are not designed for on-road use. OHVs have a narrow track and a high center of gravity which creates potential hazards when navigating roadway curves. OHVs can act unpredictably on roadway surfaces, especially with increasing speed. Despite that OHVs are incompatible and not intended for on-road operation, last … Continued

CFAnews Update – April 14, 2017

DOL Delays Fiduciary Rule, Prolonging Retirement Investor Losses The Department of Labor announced last week that was delaying by 60 days implementation of the Department’s conflict of interest or “fiduciary” rule, which requires all financial professionals to act in customers’ best interests when providing retirement investment advice. Speaking at a Hill event to launch the … Continued

Benefits and Limitations of Identity Theft Services

After the federal Office of Personnel Management (OPM) experienced two massive data breaches in 2015, it spent about $240 million to provide identity theft services to those affected. Was that money well-spent? To answer that question, Congress asked Government Accountability Office (GAO) to look into identity theft services and their usefulness. The GAO’s report concludes … Continued

CFAnews Update – April 3, 2017

Congress Sides with Internet Service Providers over Consumers in Vote to Repeal Privacy Rights In a major defeat for consumer privacy rights, the House and Senate voted to repeal broadband privacy rules that the Federal Communications Commission (FCC) issued last year but that had not yet gone into effect. “The Congress has used a sledgehammer, … Continued

Let’s Move Away from a Fossilized Vision of the Consumer Benefits of Trade

Last week, CFA joined other US and EU consumer groups for a Transatlantic Consumer Dialogue conference in Washington, DC on “A consumer agenda for transatlantic markets.” Though we have made much progress in advancing our perspectives on trade, we still have more to do. This became clear as we listened to Ambassador Stuart Eizenstat’s remarks … Continued

CFAnews Update – March 22, 2017

EPA Rescinds Fuel Economy Standards President Trump announced last week that his Administration is rolling back fuel economy standards, a move that risks increasing the cost of vehicle operation for consumers and making American automobiles less competitive in international markets. In a press statement reacting to the news, CFA Public Affairs Director Jack Gillis said … Continued

Curbing Sneaky Sales Practices on the Internet

A “negative option agreement” is a twist in the way that making a purchase usually works. Instead of paying when you order something, in negative option sales you provide your payment information and agree to be charged unless you say “no” within a certain time. Negative option agreements are used on the internet to sell … Continued

CFAnews Update – February 23, 2017

President Trump Issues Anti-Consumer Executive Orders Among his first actions in office, President Trump issued an executive order in early February that seeks to curtail the promulgation of regulations by requiring that, for every new regulation promulgated, two must be eliminated, and by requiring that the cost of all new regulations finalized this year must … Continued

Congressional Review Act Should Not Be Used on the Prepaid Card Rule or Any Other CFPB Rule

The Consumer Protection Bureau’s (CFPB) prepaid card rule provides prepaid card users with similar protections as those enjoyed by checking account consumers, easy to understand information about prepaid accounts, and credit protections.  The specific protections include requiring a simple chart of fees to help consumers shop for the right card, and limits on fees and … Continued

CFAnews Update – February 3, 2017

In New Congress, House Prioritizes and Passes Anti-Consumer Legislation The new Congress put anti-consumer legislation at the top of its agenda when it returned in 2017, with the House quickly passing a host of bills to roll back existing regulations and prevent future regulations from protecting consumers’ health, safety, and financial wellbeing. “These bills thwart … Continued

Detroit Free Press Op-Ed: Feds Shouldn’t Back Down on Fuel Economy Standards

As the Detroit auto show makes clear, boosting fuel economy standards holds promise — not peril — for American consumers and the auto industry. From conventional gas-powered engines that go farther than ever before on every gallon of gas, to a range of new hybrid and all-electric options, automakers from the U.S. and around the world keep improving gas mileage. They know consumers … Continued

CFAnews Update – January 9, 2017

California Issues Needed Computer Energy Efficiency Rules Last month the California Energy Commission (CEC) approved the nation’s first-ever energy efficiency standards for computers and monitors. Leading national and California consumer groups are applauding the CEC, saying the new standards are expected to save Californians more than $370 million per years. “California’s steady leadership on energy … Continued

New Law Frees Consumers to Speak Up

Consumer reviews are essential tools for shoppers. Information about specific products or services, or about dealing with a particular seller, can help consumers make smart buying decisions and avoid hassles. If consumers have problems with their purchases, reviews by others can help them argue that their situations are not isolated and strengthen their demands for … Continued

CFAnews Update – December 15, 2016

Digital Communications Consumers Pay $60 Billion a Year in Overcharges The typical American household is overcharged $540 per year for digital communications services, according to a new CFA report describing a “tight oligopoly on steroids” in the digital communications market. The report, Overcharged and Underserved: How a Tight Oligopoly on Steroids Undermines Competition and Harms … Continued

4 Reasons SaferProducts.gov is Your Key to a Safer Holiday Season

Holiday shopping season is upon us, and consumers across the country are trying to find the perfect safe gifts for their family and friends. To be an informed consumer, and to minimize the stress of holiday shopping, consumers should visit SaferProducts.gov. Managed by the U.S.  Consumer Product Safety Commission (CPSC), SaferProducts.gov is a safety database … Continued