Ed's Blog

In the news this month are several successful efforts to improve credit report accuracy, compensate the victims of credit bureau malfeasance and also to bring some credit repair doctors to heel. Did it take a village? No, it took a combination of strong consumer laws, a strong CFPB, tough state attorneys general working on a bi-partisan basis and, finally, consumer attorneys engaged in private enforcement of the laws as another line of defense. For markets to work fairly, consumers need all these levels of protection.

Last week, the U.S. Treasury Department came out with a report mandated by a Presidential executive order. As feared, the report is a Wall Street wish list, with a few crumbs thrown to small banks. The CFPB and investor protections are left in ruins.

UPDATED: Added House Floor Letter Opposing HR 10, Wrong Choice Act, Link:

Yesterday we released a report showing how the CFPB works to protect servicemembers, veterans and their families from financial predators that “line up outside our military bases like bears on a trout stream.” Today the House begins floor debate on the so-called Financial Choice Act. This Wrong Choice Act, incredibly, turns the CFPB into an unrecognizable husk incapable of protecting anyone, including servicemembers.

A Step Forward For Digital Privacy

By | Ed Mierzwinski
Consumer Program Director

Cross-post of a blog from Illinois PIRG director Abe Scarr on yesterday's State Senate victory on Internet privacy. The measure heads to the state House.  Just a few short weeks ago, the U.S. FCC supported successful Congressional efforts to repeal its own broadband rules. Illinois is among numerous states now taking the lead to restore privacy rights, after the FTC, the FCC and the Congress have supported efforts by Big Tech, cable and telephone lobbyists  to take them away. Of course, those lobbyists are now besieging state capitols, but this time, consumer protection prevailed.

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