Table of Contents
Postings
Organizations weigh in on CFPB plan to mandate greater language assistance from mortgage loan servicers
In comments submitted to the CFPB, organizations expressed support for the agency’s efforts to improve the availability of language assistance to mortgage borrowers seeking loss mitigation assistance, and offered suggestions for improvement and smoother implementation.
Advocates comment on CFPB’s proposals to streamline loss mitigation procedures for struggling mortgage borrowers
Consumer and housing advocates submitted comments to the Consumer Financial Protection Bureau commending the agency’s efforts to make streamlined loss mitigation reviews for struggling mortgage borrowers a permanent option, while also offering suggestions.
HHS should allow for generic competition among Ozempic-like drugs to lower consumers’ drug prices
In a letter to Health and Human Services Secretary Xavier Bacerra, consumer-interest organizations called on the agency to use existing legal authority to allow competition for the diabetes and weight loss drugs Ozempic and Wegovy, which would lower prices for consumers.
Advocates urge mark-up and vote on Forced Arbitration Injustice Repeal (FAIR) Act
In response to Disney’s attempt to quash a wrongful death lawsuit by invoking the forced arbitration clause in its Disney+ trial subscription, advocates urged Congress to mark up the Forced Arbitration Injustice Repeal (FAIR) Act (S 1376 and HR 2953), and to bring the legislation to a vote so that Americans can regain their fundamental right to justice through the court system.
Groups request consumer protections for energy-related home improvement loans tied to utility bills
Consumer advocates urged the CFPB and the FTC to issue guidance on TOB loans—financing extended to consumers for energy-related projects. The payments for these loans are placed on consumers’ utility bills without the protections required for installment debt. Nonpayment can result in the loss of essential utility service.
Groups support proposed CFPB rule to ban medical debt reporting
In comments to the Consumer Financial Protection Bureau, advocates expressed support for proposed rulemaking that would ban medical debts from credit reports, but also urged the agency to ban medical debts charged to medical and general-purpose credit cards.
Advocates support bill to increase protections for bank account and payment app users
Consumer Action was among supporters of federal legislation designed to protect consumers from fraud perpetrated via person-to-person payment apps and bank accounts, which resulted in reported losses totaling $10 billion in 2023.
Coalition supports the Stop Corporate Capture Act
The Coalition for Sensible Safeguards wrote to House leadership to express strong support for the Stop Corporate Capture Act (HR 1507), which would codify Chevron deference into law and protect regulatory agencies’ ability to protect the public.
Support for legislation to lower prescription prices for U.S. consumers
Consumer Action expressed support for legislation that would amend the Federal Food, Drug, and Cosmetic Act to allow American wholesalers, pharmacies and individuals to import affordable and safe drugs from Canada, the United Kingdom, the European Union, and Switzerland as a way to make prescriptions more affordable.
Organizations comment on proposals to reform the bank merger process
Consumer Action added its name to comments to the OCC and FDIC regarding regulatory proposals to reform the bank merger process, which the organizations contend are strongly biased in favor of merger approval, with little consideration for how communities are impacted.