Coalition Efforts

Consumer Action is working on these important issues along with other organizations. If you would like to know more about these issues, please see "More Information" at the end of each article.
 
 

Postings

Proposed CFPB changes to Home Mortgage Disclosure Act would protect communities
The Consumer Financial Protection Bureau’s proposed changes to the Home Mortgage Disclosure Act (HDMA) would improve the precision of HMDA data definitions and clarify reporting procedures. These changes would enhance the accuracy of HMDA data and its value in assessing whether lenders are meeting community credit needs and in exposing housing and lending discrimination.

The CHOICE Act is WRONG for Americans and the economy
A bill being considered by the House, the Financial CHOICE Act, or more-aptly called “WRONG CHOICE Act” (H.R. 10) would eviscerate post Great Recession safeguards, including most of the Dodd-Frank Wall Street Reform and Consumer Protection Act, putting the U.S. economy and taxpayers in the same perilous position as prior to the financial crisis.

What’s more annoying than robocalls? We could soon find out.
Consumer Action joined coalition advocates in submitting comments to the Federal Communications Commission opposing its proposal to allow private companies and political organizations to send automated messages into consumers’ voicemail inboxes without causing the cellphones themselves to ring. The proposal would move “ringless voicemail” robocalling technology from a regulatory gray area to legal fair game, opening the floodgates for telemarketers and political organizations to inundate Americans’ voicemails with messages hawking products, services, and candidates for office.

Will alt data sources help the credit invisible? It depends.
As the Consumer Financial Protection Bureau (CFPB) takes a closer look at alternative data and the impact it has on those who are deemed “credit thin” or “credit invisible,” consumer advocates submit their own recommendations on the matter. While it’s true that credit invisibility poses a real problem for many, a lack of credit history could be better than negative credit history. Whether the use of alternative data in calculating credit scores is likely to help or hinder one’s access to credit will depend on the information being used, the consumer’s ability to consent to its use, and the way that creditors interpret and apply the data.

Regulatory Accountability Act (RAA) would hurt consumers
Advocates penned a letter to the Senate urging legislators to oppose the Regulatory Accountability Act (RAA) — which should be called the “Regulatory Paralysis Act.” This bill aims to cripple the process for issuing and enforcing regulations that ensure Americans have clean air and water, healthy food and consumer products, fair wages, safe workplaces and many key financial protections.

DASH for the STASH: Learn investment skills, enter to win cash
The 2017 DASH for the STASH investment education program runs April 1-Oct. 31, 2017. Consumer Action is promoting the program to our network of community-based organizations. DASH for the STASH is a partnership between the Investor Protection Institute (IPI) and participating state securities offices.

The Dept. of Education needs to step in to prevent another for-profit scandal
Consumer Action joined over thirty student, consumer and veterans' groups in calling on Education Secretary Betsy DeVos to seek public comment and impose conditions on the sale of several Education Management Corporation colleges (including Argosy University, South University and the Art Institutes) to a Los Angeles “nonprofit,” Dream Center Education Holdings LLC. The Dream Center is a Christian missionary organization that says it will convert the for-profit colleges into nonprofit enterprises. This proposed transaction presents an opportunity for the Department to prevent another repeat of scandalous mistreatment of students and taxpayers, but only if the Department of Education takes the steps necessary to do so.

The Choice Act 2.0 is the WRONG choice for consumers
Advocates are urging Congress to oppose the so-called Financial Choice Act 2.0, that aims to repeal parts and eviscerate parts of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, including the centerpiece Consumer Financial Protection Bureau. The (Wrong) Choice Act would grind the CFPB to a halt by turning it into a gridlocked Commission, and eliminate its independent funding. This irresponsible assault takes all the worst ideas and combines them into one toxic package.

Unnecessary FCC rule continues to threaten consumers’ privacy
Consumer Action joined coalition advocates in urging the Federal Communications Commission to repeal a rule that requires phone companies to retain the detailed call records of their customers, saying it’s unnecessary and threatens consumer privacy. The rule, known as the data retention mandate, is unduly burdensome and ineffectual and poses a threat to American consumers’ privacy and security.

Advocates call on states to fill void left by Dept. of Education
Consumer Action joins a coalition of labor, civil rights and consumer organizations is urging state regulators and law enforcement agencies to step up their oversight of student loan servicers following Education Secretary Betsy DeVos’ decision to rescind Obama-era policies that were aimed at protecting borrowers.

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