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
Imagine this: You’re on your way to your favorite store with a gift card you plan to use, but when you arrive, the doors are locked, the lights are off, and a big “CLOSED FOR BUSINESS” sign is in the window. Now what? Gift cards are convenient and make for great gifts, but you can … Continued
Insurers Penalize Low-Income Drivers Who Upgrade Policies The nation’s largest auto insurance companies usually charge more for auto insurance to shoppers who currently have a minimum limits liability policy than companies charge to those who have previously purchased higher limits insurance, according to new research published last month by CFA. CFA called on state insurance … Continued
As consumer habits have shifted towards e-commerce, deliveries have become increasingly targeted by thieves. In fact, USA Today reported that in 2017, 30% of Americans experienced package theft. However, even traditional mail is not safe from thieves. These thefts occur throughout the year, but often escalate during the holiday season. Two common scams that you … Continued
That’s a common question that consumers ask state and local consumer agencies. Here’s what you need to know to stand up for your rights effectively. What kind of tenant am I? First you need to know what kind of tenant you are! To a certain extent, your rights depend on whether you are a “tenant … Continued
If you’ve recently received a call from someone claiming to be with the Social Security Administration, you’re not alone. The current Social Security scam is a version of the impostor scam, which involves scammers representing themselves as government employees in order to access your personal and/or financial information. Typically, the scam starts when a consumer … Continued
Purchasing an electric scooter or wheelchair can improve the quality of your life, but making an informed decision may mean the difference between increased mobility and getting stuck with an expensive product you can’t use. Here are some things to consider before making a purchase: Make sure you’re purchasing directly from a trusted source, like … Continued
Congress Urged To Suspend DHS Use of Face Recognition Technology In a joint letter to the House Committee on Homeland Security, several dozen consumer, privacy and civil rights groups, including CFA, urged Congress to suspend the Department of Homeland Security’s (DHS) use of facial recognition technology on the general public. According to the groups, the … Continued
Consumer demand for environmentally sound products has recently grown. As a result, many companies in various industries have attempted to capitalize on this trend. However, do the claims of “caring about the environment” or putting a green leaf on a product really mean the products are environmentally sound? The practice of conveying a false impression … Continued
We all need electrical power to run our modern homes, appliances and internet gadgets. However, how we get power to our homes has been evolving with technology changes. Many consumers are becoming more eco-conscious with their choices and some are demanding a smaller carbon footprint. Another attraction of solar power is the potential to save … Continued
Consumer Action and Consumer Federation of America respectfully submit these comments asking the Federal Communications Commission (FCC) to pause both the scheduled update to the minimum service standard for Lifeline-supported mobile broadband service and the scheduled reduction in the support amount for Lifeline-supported mobile voice service, both of which would otherwise take effect on December … Continued
So many interesting issues emerged from this year’s survey of state and local consumer protection agencies that it’s impossible to list them all. Here are some of my key takeaways based on information from the survey report. Payment methods in fraud continue to evolve. This year we heard about crooks asking people to send them … Continued
An Analysis of OHV Recalls: Increasing Number of OHVs Pulled from Market due to Safety Concerns A Consumer Federation of America (CFA) analysis of off highway vehicle (OHV) recalls found that over the past nine years, there have been 97 OHV recalls, and the number of recalls has increased from two recalls in 2010 to … Continued
CFA Warns: July 4th Is the Most Dangerous Day for Adults and Children on OHVs On the eve of the July 4th holiday, CFA issued an alert to off-highway vehicle (OHV) riders to operate their vehicles with caution and not to allow children 16 or younger to operate the vehicles. The annual release was tied … Continued
Washington D.C. – CFA joined other members of the Safe Food Coalition in submitting comments to the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS). In the comments, the groups commend FSIS for committing to post additional information about microbiological sampling results, including the serotype, genetic profile, and antibiotic resistance profile of pathogens … Continued
Bipartisan Bill To Stop Bad Robocalls Advances in the House The House Communications and Technology Subcommittee gave voice vote approval earlier this week to legislation (H.R. 3375, the Stopping Bad Robocalls Act) designed to “end the robocalls epidemic.” In advance of the vote, CFA and other privacy organizations sent a letter in support of legislation … Continued
SEC Votes to Adopt Anti-Investor Advice Standards The Securities and Exchange Commission (SEC) voted 3-1 last week to adopt a package of rules and regulatory interpretations that will make it easier for broker-dealers and investment advisers to mislead investors into expecting “best interest” advice without requiring them to actually recommend the investments that are best … Continued
The Home Mortgage Disclosure Act (HMDA) has provided invaluable information on credit flows in US communities since 1975, and a proposed rulemaking issued by the Consumer Financial Protection Bureau (CFPB) would unnecessarily reduce the scope of its coverage and is ill-advised and should not be adopted. The proposed rule would reduce the scope of HMDA … Continued
On June 3 Fannie Mae and Freddie Mac carried out the most momentous change in mortgage finance since the emergence of mortgage backed securities in the 1980s and shifted their bond production into a single security, the so-called Uniform MBS (UMBS). If you weren’t paying attention, this passed without notice, which is a remarkable and … Continued
CFA and Center for American Progress sent a memorandum to Members of Congress alerting them to severe shortcomings in the standard of conduct for broker-dealers and investment advisers due to be voted on by the Securities and Exchange Commission June 5th. “After years of study and deliberation, and amid mounting evidence that investors lose tens … Continued
Consumer Groups Support H.R. 946, the Stopping Bad Robocalls Act CFA joined with the National Consumer Law Center, Consumer Action, and the National Association of Consumer Advocates in urging Congress to act swiftly to enact H.R. 946, the Stopping Bad Robocalls Act, in testimony presented on behalf of the groups by NCLC Senior Counsel Margot … Continued