Forced arbitration ubiquitous in consumer contracts
A report from Public Citizen reveals that mandatory binding arbitration clauses, or “forced arbitration,” are prevalent in consumer contracts. Seventy-five percent of companies in eight industries used forced arbitration, according to the report. Comments: 1

Prepaid cards: New report finds fees, gotchas
A new report finds that upon close examination, prepaid debit cards are laden with numerous types of fees and other gotchas. Comments: 0

FDIC study: Serving the unbanked and underbanked
In the first national survey of banks' efforts to serve unbanked and underbanked individuals and families in their market areas, the FDIC found that improvement may be possible in certain areas. Comments: 0

Reasons you can’t get your credit report fixed
A noted national consumer law organization releases a report documenting the abysmal quality of the credit report dispute system provided for by law to protect consumers from errors in their credit reports. Comments: 1

Could regulations have prevented the economic crisis?
A new report by the Congressional Oversight Committee points to three areas of regulation that could have prevented the current economic crisis. Comments: 0

Consumers plan to reduce holiday spending
Consumers have sharply weaker holiday spending plans this year compared to previous years, according to the ninth annual holiday spending survey conducted by the Consumer Federation of America (CFA) and the Credit Union National Association (CUNA). Comments: 0

Brokerage held liable in predatory mortgage loans

When investors are held liable for the actions of the companies they fund and the mortgage loans they purchase on the secondary market, it can have a chilling effect on predatory lending practices. In an important recent case, a federal appeals court upheld a lower court decision that Lehman Brothers knowingly participated in fraudulent predatory loans being made to subprime borrowers.

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Household debt in America
During a one-day conference on July 19, the Center for American Progress in Washington, DC, presented a number of interesting panels on debt. At the event, The Debt Survey: Public Recognizes Debt as a Fast Growing Problem in U.S., was introduced. Comments: 1

Start Smart: Money Management for Teens
The latest issue of FDIC Consumer News, published by the Federal Deposit Insurance Corporation, contains a special free guide to help teens make good money decisions. Comments: 2

Predatory lending: Its impact on Armed Forces
The Department of the Defense has released a highly anticipated report on "Predatory Lending Practices Directed at Members of the Armed Forces and Their Dependents," which details the harm done to military personnel and their families by the predatory lending establishments clustered around military bases nationwide. Comments: 0