House Passes Bill to Protect Infants and Toddlers from Dangerous Sleep Products Congress took an important step toward improving infant and toddler safety last month when the House gave voice vote approval to the Safe Sleep for Babies Act of 2019 (H.R. 3172), which would ban infant inclined sleep products and padded crib bumper pads, … Continued
Insurance Regulators Consider Anti-Consumer Annuity Sales Rule Amid reports that state insurance regulators are poised to move forward with a new industry-friendly, anti-consumer model rule, CFA and the Center for Economic Justice wrote to members of the National Association of Insurance Commissioners (NAIC) earlier this month urging them to reject the current draft and continue … Continued
One of the arguments that some people make about privacy legislation is that individuals’ personal information should be treated as their property. At first blush, this may seem like an appealing idea. Why shouldn’t we be paid when companies use our data? But that’s the wrong approach to privacy. Privacy is a human right. This … Continued
Washington, D.C. – Leading national investor groups, including CFA, wrote to the Chairman of the Securities and Exchange Commission (SEC) to voice concerns about PCAOB staff guidance, issued last year, that they said would both undermine auditor independence and deceive the investing public. The groups expressed particular concern that the staff guidance would permit firms … Continued
Trump’s Proposed Decision to Freeze Light Bulb Standards Will Cost Consumers almost $173 Billion Following a recent U.S. Department of Energy (DOE) decision to roll back efficiency standards for certain categories of lighting products, CFA submitted comments on the agency’s notice of proposed determination that no lighting standards are needed calling into question the analysis … Continued
SEC Urged to Halt Damaging Expansion of Private Securities Markets Pro-investor and public interest groups have called on the Securities and Exchange Commission (SEC) to halt any further expansion of private offering exemptions from the securities laws at least until it can conduct a careful analysis of the impact the proliferation and expansion of these … Continued
On October 29, 1929, the U.S. stock market capped a week of jitters by plunging another 12 percent in market value, panicking investors and ushering in a period of economic devastation unmatched in the United States before or since. Ninety years later, the very agency that was created to police the securities markets and prevent … Continued
States Continue to Push Stronger Fuel Economy Standards Despite Administration Rollback Even as the Trump Administration revoked the right of states to adopt auto emissions standards, two more states — Minnesota and New Mexico — took the first steps towards joining 14 other states in adopting low- and zero-emission vehicle standards that are more stringent … Continued
In a major analysis published almost three years ago, CFA showed that consumers are being overcharged over $70 billion a year for their broadband, wireless and television services. Today the Irregulators filled their reply brief in the legal challenges to the FCC’s decision to continue its fraudulent accounting rules that allocate two-thirds of the costs … Continued
House Passes Three Critical Product Safety Bills Last week, the House gave voice vote approval to three important consumer product safety bills strongly supported by CFA and consumer organizations. “We applaud the U.S. House of Representatives for voting to put children and consumer safety first. Children will be safer because the STURDY Act will require … Continued
It’s easy to get caught up in the excitement of buying a car. When you see one that you like at a dealership, you may be willing to accept anything a salesperson tells you. And in your excitement you may end up paying more than you can afford, getting extras you don’t really need, and … Continued
Your home is your biggest investment. Therefore, it is critical to take all necessary precautions when you are buying a home to ensure you are making the right financial decision. One is hiring a home inspector. A home inspection can give you information that is useful in negotiating repairs into the purchase contract, obtaining a … Continued
The “Real World Stories” in our latest Consumer Complaint Survey Report include examples of problems with retirement communities and assisted living facilities. As the Baby Boomers age, we may see more of these kinds of complaints in the future. In one case, a Massachusetts woman paid $470,000 to move into an assisted living facility. When … Continued
An Ohio mom drops her son off at a sleep-over camp in Pennsylvania. The next day, she answers her cell and hears a weeping child say, “Mom, Mom, you have to help me.” Between sobs, he tells her that he’s been beaten up and has been taken to a warehouse. Then a man gets on … Continued
Online shopping: we all do it. It’s easy, convenient and often more affordable. It’s also just as easy and convenient for fraudsters to steal your hard-earned money or information on the web. No matter what site you’re using to shop, there is always a risk of your information being compromised or buying from an untrustworthy … Continued
Washington, D.C. – Along with 14 other consumer advocacy groups, CFA sent a letter to the U.S. House of Representative urging them to vote “Yes” on three bills aimed at protecting consumers from preventable injuries and deaths. The three bills the groups support are: The Nicholas and Zachary Burt Carbon Monoxide Poisoning Prevention Act of … Continued
It’s January and you’re looking to start the year off right with a tried and true New Year’s resolution: Go to the gym. By March, you may not be as dedicated to keeping that resolution or going to the gym at all. So, after much alarm-snoozing and rationalization, it’s time to cancel your gym membership. … Continued
More than a decade after Fannie Mae and Freddie Mac were placed into conservatorship at the height of the financial crisis, the Trump Administration’s Treasury Department on September 5 released its long-awaited report on mortgage finance reform. Importantly, the report endorses a government role in supporting long term fixed rate mortgages and a federal guarantee … Continued
Bots are computer programs that account for roughly 48% of all traffic to thousands of websites. Whether consumers are faced with good bots (e.g., indexing sites for Google) or bad bots (e.g., SPAM bots) matters greatly to consumer choice and purchasing behavior. According to a Nielsen study, two-thirds of consumers say they trust user reviews … Continued
Foodborne Illness Investigation Exposes Weakness in Meat and Poultry Inspection System A recent outbreak of multi-drug resistant Salmonella Newport has drawn attention to fatal flaws in the nation’s meat and poultry inspection system. The outbreak has resulted in at least 60 hospitalizations and two deaths so far. Weak regulations hamper authorities’ ability to identify and … Continued
Leasing a car simply means that you have the right to use it for an agreed number of months and miles. Leasing is not buying! One of the attractions of leasing a car is that the amounts of your down payment and monthly payments are typically lower than if you borrow to purchase a similar … Continued
You want to sell your timeshare, but have been unsuccessful. The reality is that the market is flooded and any potential sale may come at a financial loss. Naturally, an offer from a “timeshare reseller” who promises an immediate, lucrative sale is hard to resist – and scammers know it. Learn how to spot and … Continued
When you are buying a used car, getting the answers to these questions before you commit can save you money and aggravation down the road. Am I choosing a reputable dealer? Research consumer complaints with your state’s Attorney General’s Office (found through www.naag.org) and the Better Business Bureau (www.bbb.org), and through internet searches. Is the … Continued
We’ve all been there before. You get in your car and turn the ignition, but it will not start. Not today! Any day but today. With a little luck the car finally starts. But now where should you take the car for a mechanic to do a diagnostic? With a little planning you can be … Continued
CFA issues a letter responding to the Insurance Information Institute (III) and the Casualty Actuarial Society’s (CAS) recently issued a paper on auto insurance rating factors, which was triggered by the “recently generated discussion within the United States” on “the use of some rating factors.” The paper, Insurance Rating Variables: What Are They and Why … Continued