Postings

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.

Organizations welcome FAA reauthorization agreement, but advocate for improvements
Consumer Action lent its voice to a public statement supporting the bill to reauthorize the Federal Aviation Administration (FAA), while also urging senators to support additional amendments that would provide crucial airline passenger rights and protections.

Strong support for FTC’s CARS—Combating Auto Retail Scams—Rule
More than a hundred groups signed on to a letter to Congress members asking them to support implementation of the Federal Trade Commission’s CARS Rule, which would combat unfair and deceptive auto dealer practices.

52 advocacy groups endorse FTC’s ban on junk fees
Consumer Action was part of a broad coalition of advocacy organizations that voiced support for the FTC’s proposed rulemaking on junk fees, which would ban hidden and misleading fees across the economy.

Groups tell FTC that Americans want the right to repair their stuff
Consumer Action was one of the organizations to sign a letter to the FTC urging the agency to take steps to remove manufacturer restrictions that make it harder and more expensive for consumers to repair their phones, laptops and tablets.

DOL’s proposed rule would expand fiduciary requirement for those providing investment advice
Dozens of organizations signed on to a letter to the Department of Labor expressing support for the agency’s proposed rule that would provide comprehensive protections for consumers who turn to professional advisors for retirement investment advice.

Consumer Action supports bill to ban hedge fund ownership of residential housing
Consumer Action is a supporter of the End Hedge Fund Control of American Homes Act of 2023, which would address an urgent issue that has made it more difficult for middle-class Americans to become homeowners and is contribution to America’s twin crises of housing unaffordability and wealth inequality.

CFPB should disregard request to delay planned Fair Credit Reporting Act rulemaking
Sixty groups wrote to CFPB Director Chopra urging him to disregard a request by industry trade organizations to delay the agency’s planned Fair Credit Reporting Act (FCRA) rulemaking by issuing an Advanced Notice of Proposed Rulemaking—a unnecessary delay that would allow industry abuses to continue in the interim.

Opposition to Earned Wage Access Consumer Protection Act
More than a hundred advocacy groups wrote to U.S. Representative Bryan Steil, author of the draft Earned Wage Access Consumer Protection Act, to voice their opposition to the bill because its true effect would be to exempt FinTech companies and payday lenders from regulations designed to protect consumers.

Call for a CFPB rulemaking on forced arbitration
More than a hundred organizations signed on to a letter to CFPB Director Rohit Chopra supporting a recently submitted petition for rulemaking to require meaningful consumer consent to arbitration.

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