Postings

It’s time for Wall Street traders to pay their fair share
A tiny tax on financial transactions aims to raise revenue and cut down on speculative behavior in the stock market. The Wall Street Tax Act of 2019 would impose a small tax (0.1 percent, or 10¢ per $100) on securities transactions, including trades of stocks, bonds and derivatives.

Consumers need stronger credit reporting protections
Consumer Action joined over 80 advocate organizations in supporting the biggest overhaul of the consumer credit reporting industry in years. House Financial Services Committee Chairwoman Maxine Waters’ introduced the Comprehensive Consumer Credit Reporting Reform Act of 2019—legislation that aims to protect consumer data, prevent identity theft, and ensure the accuracy of consumer credit files.

Advocates tackle data-driven discrimination
Big Data has the potential to create racial and social inequalities, and make existing discrimination even worse. While civil rights protections have existed in brick-and-mortar commerce for decades, they are largely missing from the internet economy. Online services should not be permitted to use consumer data to discriminate against protected classes or deny them opportunities in commerce, housing, employment, or full participation in our democracy.

Transparency lacking in California arbitration proceedings
More than 30 national and California-based consumer, labor and civil rights organizations—including Consumer Action—wrote to California Attorney General Xavier Becerra on March 21 urging him to investigate private arbitration firms for violating state law. California requires these firms to periodically disclose basic information about claims they’ve heard so as to inform the public. The 2003 law requires that firms name the corporations and firms involved in the proceeding, the nature of the dispute, and whether the consumer or non-consumer party prevailed, among other information.

Protect employees by ending forced arbitration in the workplace
Consumer Action joined advocates in calling on the leaders of the tech industry’s biggest companies, including Apple, Google and Facebook, to remove forced arbitration provisions in employee contracts and take the first steps toward creating a harassment- and discrimination-free environment. While forced arbitration provisions are now common in many types of consumer contracts, forcing an employee into arbitration is equally harmful because of its ability to silence systemic wrongdoing in the workplace.

Do not delay or revise 2016 nursing home protections
Consumer Action joined the National Consumer Voice for Quality Long-Term Care (Consumer Voice) and many other organizations to decry revisions and delays to 2016 rules for nursing homes.

Advocates call on Congress do more for victims of Equifax breach
The Equifax data breach is prompting advocates to call on Congress for better protection of consumers' sensitive financial information. Not only should free credit freeze legislation be implemented immediately, but Congress should also resist the financial and banking industries attempts to pass legislation that preempts stronger state laws in matters that relate to consumers’ data security and privacy.

Wells Fargo has some (more) explaining to do
As widespread, deceitful business practices at Wells Fargo continue to come to light, and knowing that Wells Fargo most likely withheld information related to an estimated 800,000 cases of fraudulent auto insurance sales practices during its last Congressional hearing, advocate groups are urging the Senate Banking Committee and House Financial Services Committee to hold more hearings regarding the bank’s fraudulent activity.

Caller ID authentication provides protection against illegal and unwanted calls
The Federal Communications Commission (FCC) acknowledges that consumers get an unacceptably high volume of calls that can annoy or defraud. One particularly disturbing category is spoofed robocalls where the caller ID is a fake, hiding the caller's true identity. Consumer advocates applaud the FCC’s rollout of proposed new rules that aim to stop spoof calls and believe implementing caller ID authentication will aid the agency's attempt to curb robocall scams.

Elderly in homes might be deprived the right to sue for abuse and neglect
Dozens of groups in the Fair Arbitration Now Coalition submitted public comments to the Centers for Medicaid and Medicare Services (CMS) opposing its proposal to eliminate protections for seniors who are harmed by mistreatment and legal violations in nursing homes.

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