Ed's Blog

CFPB, FDIC, Fed and OCC slap AmEx Credit Card for numerous violations

By | Ed Mierzwinski
Consumer Program Director

(UPDATED) Four federal financial regulators have announced an order for at least $85 million in restitution and $27.5 million in penalties alleging a variety of violations of equal credit opportunity, debt collection and credit reporting laws by the American Express credit card. From the CFPB: "at every stage of the consumer experience, from marketing to enrollment to payment to debt collection, American Express violated consumer protection laws."

It's the 30th anniversary of Connecticut's New Car Lemon Law

By | Ed Mierzwinski
Consumer Program Director

Thirty years ago today, the nation's first new car lemon law took effect in Connecticut. I was ConnPIRG's director at the time, when we joined a freshman state legislator, John Woodcock, to take on both Detroit and the even-more-powerful (in Hartford, that is) Connecticut car dealers.

Consumer Reports: Ticketmaster worst of 52 online shopping sites

By | Ed Mierzwinski
Consumer Program Director

We are shocked, shocked to find in our latest Consumer Reports magazine that Ticketmaster came in last in a Consumer Reports member survey asking for online retailer ratings. Could it be the fees or maybe the "deceptive" sales tactics?

Latest follies: Professor Alan White explains the latest antics of the "bizarre" Federal Housing Finance Agency (FHFA)--its effort to punish states with successful foreclosure mediation programs by raising their mortgage costs. Meanwhile, I join Maria Bartiromo on CNBC's Closing Bell where I blame irresponsible bankers for an increase in overdraft fees.

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