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Coalition Efforts

Consumer Action is working on these important issues along with other organizations. If you would like to know more about these issues, please see "More Information" at the end of each article.
 

Postings

Regulatory Accountability Act (RAA) would hurt consumers
Advocates penned a letter to the Senate urging legislators to oppose the Regulatory Accountability Act (RAA) — which should be called the “Regulatory Paralysis Act.” This bill aims to cripple the process for issuing and enforcing regulations that ensure Americans have clean air and water, healthy food and consumer products, fair wages, safe workplaces and many key financial protections.

The Choice Act 2.0 is the WRONG choice for consumers
Advocates are urging Congress to oppose the so-called Financial Choice Act 2.0, that aims to repeal parts and eviscerate parts of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, including the centerpiece Consumer Financial Protection Bureau. The (Wrong) Choice Act would grind the CFPB to a halt by turning it into a gridlocked Commission, and eliminate its independent funding. This irresponsible assault takes all the worst ideas and combines them into one toxic package.

Advocates call on states to fill void left by Dept. of Education
Consumer Action joins a coalition of labor, civil rights and consumer organizations is urging state regulators and law enforcement agencies to step up their oversight of student loan servicers following Education Secretary Betsy DeVos’ decision to rescind Obama-era policies that were aimed at protecting borrowers.

A push for regulatory leadership that is unimpeachably independent
Donald Trump ran on "draining the swamp" of corruption in Washington, DC. Yet, as president, he is working to install a revolving-door government run by representatives of the big businesses our government is supposed to be regulating. In a letter to the Democratic Senate leadership, coalition advocates remind senators that the need for public minded watchdogs has never been greater. The American people deserve voices on a diverse collection of independent agencies, including the Federal Trade Commission, Federal Communications Commission and Securities and Exchange Commission, that are independent of excessive corporate influence.

Advocates urge ED to remain tough on fraudulent colleges
Advocates working on behalf of consumers, students, civil rights, veterans and servicemembers penned a letter to Education Secretary Betsy Devos, urging her to continue implementing and enforcing critical Education Department accountability provisions designed to protect students and taxpayers from unmanageable student debt and waste, fraud and abuse in higher education. In particular, we oppose all actions to delay, weaken, or repeal the gainful employment, incentive compensation, or recent “borrower defense to repayment” and college accountability regulations.

US Postal Service advocates call for an end to CPI price cap
The Postal Regulatory Commission (PRC) is reviewing the effects of the current rate system, capped by the Consumer Price Index (CPI), to see how it impacts the Postal Service's ability to meet the objectives stated in the Postal Accountability and Enhancement Act. The coalition’s recommendations included eliminating the CPI cap, which places financial pressures on the Postal Service, putting the agency at risk. It holds back the necessary infrastructure changes, needed capital investments and the ability for the USPS to fix safety and health issues – such as replacing an outdated fleet of vehicles. It also strangles the USPS' ability to restore and protect good postal services.

The CFPB: A champion for student loan borrowers too
Since 2012, the Consumer Financial Protection Bureau (CFPB) has continually defended student loan borrowers against some of the biggest players in the for-profit college and student loan industries. While fraud and mismanagement issues run rampant in student lending, the CFPB has worked hard to protect veterans, students and their families against some of the biggest offenders, including Sallie Mae, Navient, Corinthian and Bridgepoint Education.

Mnuchin unfit to serve as Treasury Secretary--Senate should oppose nomination
88 advocacy groups signed a letter to the Senate voicing grave concerns about President Trump’s nominee for Treasury Secretary, former Goldman Sachs partner and OneWest Bank Chairman, Steve Mnuchin. Mnuchin, known as “The Foreclosure King,” oversaw the eviction of nearly 50,000 families from their homes during the foreclosure crisis. The bank’s aggressive foreclosure practices targeted the country’s vulnerable populations—particularly the elderly  and widowed. By approving his nomination, the Senate is putting its stamp of approval on his alarming record and choosing to rig the rules for the wealthy rather than protect American families.

Hands off the CFPB!
Advocates penned a very clear response to Delaware’s Senator Tom Carper’s stated interest in exploring changes to Consumer Financial Protection Bureau’s (CFPB) structure: “Back off!” The CFPB has been wildly successful at protecting American consumers and weakening the agency’s oversight would be a grave mistake. The only reason to do so would be to favor the banking and financial industries that jeopardized the world economy and devastated American families less than a decade ago.

The 'Foreclosure King' is an unfit choice to run the U.S. Treasury
President-Elect Trump’s nominee for the U.S. Treasury Secretary, Steven Mnuchin, is unfit to serve in one of government’s most important positions. Mnuchin, a former Goldman Sachs partner and hedge fund operator who has never held public office before, earned the nickname the “Foreclusre King” due to unethical practices he oversaw during the housing crisis while owner of OneWest Bank. Over the past decade, this country has seen the disastrous economic results of policies that permit the wealthiest and most powerful institutions and individuals in our society to engage in predatory financial practices that devastate ordinary American families. Government cannot afford to cater to the wealthiest special interests and the Senate should oppose a nominee with Mnuchin’s record.

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