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Blog Post | Financial Reform

CFPB To Visit NYC and More Consumer News of the Week, In Case You Missed It | Ed Mierzwinski

Just a few of the interesting consumer stories I am following this week: CFPB heads to New York to talk about checking accounts (Feb. 22)... Meanwhile, Citibank charged some consumers twice to pay bills only once (NYTimes)...Consumer groups call for a real recall of Bumbo baby seat (Boston Globe)...Mortgage settlement is a good first step (PIRG statement)...House opponents ratchet up attacks on new CFPB (WashPost)...Over-priced "Who will pay your credit card if you die, get sick or get laid off?" products pay out only 21 cents on the dollar (American Banker)...More on the CFPB's latest semi-annual report (St. Louis American)...PIRG, Demos document rise of the Super-PACS (MS-NBC)...And finally, "Enron" -- a musical theater production about corporate crime, re-opens in Washington State (The Olympian).

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Blog Post | Consumer Protection

PIRG, Others Urge CPSC Recall of Bumbo Baby Seat Due to Skull Fracture Risk | Ed Mierzwinski

Over at the CALPIRG blog, consumer advocate Jon Fox explains why CALPIRG, U.S. PIRG, Kids In Danger and other leading groups have asked the Consumer Product Safety Commission, in a letter, to recall the Bumbo baby seat. Previous remedial actions, including labeling the seat with warnings, haven't prevented an alarming number of injuries, including over thirty skull fractures.

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News Release | U.S. PIRG | Financial Reform

Robo-Signing Settlement With Big Banks Is Important Step

Today's settlement by the U.S. and 49 state attorneys general with the 5 biggest mortgage servicers - the big banks Citibank, Bank of America, Wells Fargo and JP Morgan Chase, along with Ally Financial - is an important and enforceable first step toward holding the big banks accountable for not only wrecking the economy but using a variety of unfair foreclosure practices to ruin the lives of millions of Americans and, in many cases, taking their homes illegally.

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Media Hit | Democracy

MSNBC: "Auctioning Democracy"

Host Chris Jansing and guests Rana Foroohar of Time Magazine, Ben White of Politico, and Richard Lui of MSNBC discuss U.S.PIRG and Demos's "fascinating" new report "Auctioning Democracy: the Rise of Super PACs and the 2012 election" on today's episode of Jansing & Co.

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Blog Post | Consumer Protection

Encouraging news on HUD/state AG settlement with big mortgage servicers | Ed Mierzwinski

Update: The terms of the settlement, which was announced this morning, are at the page http://www.nationalmortgagesettlement.com. We are reading it now. Original: If I am reading the overnight news stories correctly (NY TIMES and Politico and Boston Globe), it appears that negotiators have clarified that the well-publicized settlement between HUD and state AGs and the nation's 5 largest mortgage servicers will not release the big banks from claims related to their activities with the mysterious entity known as MERS that aided and abetted their illegal foreclosures. If so, this is a big deal in ultimately holding the big banks fully accountable.

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