On Our Radar

In this section called "On Our Radar," Consumer Action shares thought-provoking and informative issues on a variety of topics. You can add your thoughts and comments.

IMPORTANT NOTE: The issues presented in "On Our Radar" and the comments of our guests do not necessarily state or reflect the views of Consumer Action.

 

Postings

Overdraft fees: How to beat the bank
Video report of one man's war with Wells Fargo about overdraft fees.

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.

Short-term payday loans force customers to quickly re-borrow
The Center for Responsible Lending (CRL) has issued a report on payday loans which finds that three quarters of loan volume in the industry is generated by borrowers who, after meeting the short-term due date of the loan, must re-borrow before their next pay period.

"Day of Action" highlights impact of recession on communities
From Chicago to San Francisco, Birmingham to Detroit and in more than 50 cities across the country, the National Community Reinvestment Coalition (NCRC) held public rallies and events at 54 locations across the U.S. calling for greater accountability and integrity in the U.S. financial system.

Warranties for new homes force consumers into arbitration
Public Citizen has issued a report that finds millions of new home purchasers are unaware they are signing binding mandatory arbitration clauses in their home warranties. These warranties are particularly insidious because consumers often do not learn of their details until after moving into their new houses.

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.

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.

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.

Old debt gets new rates: Citigroup raises credit card rates
An article by Tim Westrich of the Center for American Progress discusses Citigroup's announcement that it would raise its credit card interest rates on 20 percent of its customers, just weeks after accepting $25 billion from the federal government.

Women head of households in worse financial condition
The 26 percent of all households headed only by a woman earn, save, and have accumulated far less wealth than have other American households, according to a Consumer Federation of America (CFA) analysis of the most recent data collected by the Federal Reserve Board's authoritative Survey of Consumer Finances.

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