Table of Contents

Keep consumer protection agency independent
Consumer Action joined coalition members in sending a letter to the Senate imploring them to rejection any legislation placing the Consumer Financial Protection Agency under the Office of the Comptroller of the Currency (OCC).

Financial protection agency could stop next recession
In coalition with a large number of organizations, Consumer Action sent a letter to Senator Dodd asking for his continued support of the Consumer Financial Protection Agency.

Congress should reign in reckless financial markets gambling
Consumer Action sent a letter to Senator Harkin and Representative DeFazio expressing support for their bills that would attempt to curb financial markets speculation.

Foreclosure crisis can be stopped with bold, aggressive action
Consumer Action joined members of Americans for Financial Reform in a letter demanding more solutions - including revamping HAMP, addressing unemployed homeowners, and offering a "right to rent" - to stop the foreclosure crisis.

Improving HAMP will stem foreclosures
In a letter to Tina Tchen, White House Director of Office of Public Engagement, Consumer Action and other groups laid out steps to improve the Home Affordable Modification Program (HAMP).

Health care bill should adopt Medicaid payment parity
In a letter to Congressional leaders, Consumer Action asked that legislators working on the health care reform bill to adopt a provision to bring Medicaid reimbursement rates for primary care in line with comparable Medicare rates within four years.

Data collection and tracking via student loans is open-ended and overbroad
Consumer Action signed onto a letter to the Senate that addresses privacy concerns about a recent student loan bill. The bill includes federal funding for state student tracking systems.

SEC should investigate, have power to prohibit investment arbitration clauses
In a letter to Representatives Barney Frank and Spencer Bachus, of the House Financial Services Committee, Consumer Action joined its Fair Arbitration Now coalition members in supporting a provision of H.R. 3817 that would require the Security and Exchange Commission (SEC) to do a study on the use of arbitration clauses in broker-dealer and investment advisory accounts. The letter also opposes two amendments to the bill that would undermine the SEC's authority in prohibiting such clauses.

Curb unfair overdraft protection practices
Consumer advocates, including Consumer Action, joined in a letter asking Congress to pass a bill curbing unfair bank overdraft fees. On Friday Oct. 30, the House Financial Services Committee will hold a hearing on H.R. 3904, the Overdraft Protection Act of 2009 which would, among other provisions, require a warning before a withdrawal would trigger an overdraft fee and allow consumers to choose whether or not to enroll in overdraft programs.

Congress should ban tax patents
Consumer Action signed onto a letter opposing the ability to "patent" tax reduction/evasion strategies. Because of patents, some taxpayers may pay more tax than Congress intended.