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.

Forced arbitration silences victims and should end
Consumer Action joined coalition advocates in supporting Senator Sherrod Brown’s (D-OH) effort to restore Americans’ right to a day in court with the Arbitration Fairness for Consumers Act (S. 630). Ending the use of forced arbitration in student loans, credit card agreements, and employment contracts gives working Americans a fighting chance against powerful special interests.

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.

Americans are ready for comprehensive reform to lower prescription drug prices
A coalition of progressive grassroots and policy organizations sent a letter urging Congress to lower prescription drug prices for the American people. The letter urges House leadership to develop and pass bold, comprehensive reforms that would lower drug prices for all Americans, regardless of whether they are covered by Medicare, private insurance, or Medicaid.

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.

The CREATES Act protects patients from outrageous prescription drug costs
When it comes to prescription medicines, patients win when companies innovate new cures and treatments. Patients also win when more affordable generic versions of those medicines enter the market. Unfortunately, some drug manufacturers aren’t playing by the rules.

Protect consumers, not pyramid-scheme businesses
Consumer Action joined advocates in urging the co-sponsors of the 2018 Anti Pyramid Promotional Scheme Act to refrain from reintroducing the bill in the 116th Congress. If this bill were to become law, it would eliminate the Federal Trade Commission’s authority to take action against all but the most blatant pyramid schemes, leaving millions of consumers vulnerable to fraud.

How the government shutdown puts working families at risk
As the longest federal government shutdown in our nation’s history drags on, advocates raised concern as to how working families could potentially be harmed long after the government reopens its doors. Without a paycheck, federal employees fear losing their homes, consider risky financial loans in lieu of income, tax credits and refunds, and worry about the lasting impact that missed bill payments will have on their credit.

The time is now for comprehensive consumer data privacy legislation
Consumer and privacy organizations released a framework for comprehensive privacy protection and digital rights for members of the 116th Congress. In it, they stated that U.S. data privacy laws must be overhauled (without pre-empting state laws) and a new data privacy agency should be created to confront 21st century threats and address emerging concerns for digital customers.

Department of Education urged to extend loan discharge period for scammed students
In the wake of sudden closures of both Education Corporation of America (ECA) and Vatterott Education Holdings, advocates wrote to Education Secretary Betsy DeVos to express concern that over 25,000 students are being given incomplete, incorrect, and harmful information about their options for closed school discharge and information on transfer options. Advocates recommend important steps the Department can take so that students can immediately explore their options and understand what resources might be available to them in the wake of their school’s closure, including extending the window to discharge their student loans.

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