Financial reform coalition tackles big issues
A new financial reform coalition, Americans for Financial Reform, has been launched. Consumer Action is a part of this coalition.

Groups seek stronger mortgage reform bill
Consumer Action signed on to Congressional testimony that opposes current mortgage reform legislation (HR 1728). The bill would provide some needed protections to predatory lending, but would also replace stronger state laws with weaker federal protections.

Advancing financial literacy in Wisconsin

Over the last three years, Consumer Action’s Sol Carbonell has served as the Dane County Marketing and Promotions Committee Chair for Money Smart Week, a weeklong financial literacy awareness and education campaign that takes place in the state of Wisconsin during the month of October. In this article, Carbonell shares some of the accomplishments and behind the scenes coordination efforts of this campaign that reached thousands of consumers with financial literacy information.

“Consumer Action is proud to be part of Money Smart Wisconsin and urges state partners to join the movement and continue promoting financial literacy,” said Carbonell.

State regulators must be allowed to protect borrowers
Consumer Action signed on to a letter to Treasury Secretary Timothy Geithner and Attorney General Eric Holder urging them to overturn a Bush Administration ruling that weakened the ability of states to investigate and enforce laws against banks in their region.

Loan modifications available for all mortgages, not just subprime
Consumer Action joined its coalition members in a letter supporting S. 61, which would provide judges with the authority to modify unaffordable loans for all families who are facing foreclosure, not just those with subprime mortgage loans.

Court-supervised loan modifications crucial to stopping foreclosures
Consumer Action, along with its coalition members, sent a letter urging Congress to support loan modifications via bankruptcy court, which would be an immediate and effective way to reduce foreclosures.

Foreclosure prevention necessary to solve economic recession
Leading consumer groups - including Consumer Action - sent a letter to Treasury Secretary Timothy Geithner outlining what a successful federal foreclosure prevention program should include.

Bailout must include foreclosure prevention provisions
Consumer Action, with its coalition members, sent a letter to Representatives Barney Frank and Spencer Bauchus of the House Financial Services Committee, asking them include a foreclosure prevention program in the Troubled Asset Relief Program (TARP), also known as the bailout legislation.

Take a ride on the ‘Road to Economic Recovery’
The National Community Reinvestment Coalition (Consumer Action is a member) and USAction are planning a massive week of action around the economic crisis.

Road to economic recovery must include help for Main Street
Consumer Action joined a coalition of civil rights, faith-based, housing, and grassroots organizations in signing a letter urging more remedies for Main Street in any forthcoming economic recovery plan.