Updates

(UPDATED (AGAIN)) Industry lobbyists, under cover of a "bi-partisan" center, have pre-launched their 2013 assault on financial reform. Meanwhile, as the FTC dings fake debt collectors, the CFPB heads to Seattle to presumably announce its authority to supervise or examine "larger" debt collectors. Read more for news of these and other financial follies.

Media Hit | Health Care

Los Angeles Times: Target, Rite Aid, Walgreens refill drugs without OK, patients say

Some consumers report Target, Rite Aid and Walgreens have refilled their prescription drugs without their approval, similar to allegations involving CVS.

Media Hit | Higher Ed

Average student loan debt rises to $26,600 for class of 2011

"Increasing student debt in a weak economy can be a knock-out blow to many considering college," said Rich Williams, higher education advocate with U.S. Public Interest Research Group, which advocates for students. "As our economy is recovering, lawmakers must send every signal that college is a good investment. "
 

Five Factors Will Determine Whether TIFIA Will Fund Transit

By | Phineas Baxandall
Senior Analyst for Tax & Budget Policy

"TIFIA," the federal transportation loan program was super sized in the recent transportation law. New rules make the program even more of a slush fund for private toll roads, while others provide possibility for long-overdue public transit expansion. This blog appeared in slightly condensed form at StreetsBlog.

Fox Business reporter Kelly Dilworth has a detailed "how-to" called "10 surefire steps to get errors off your credit reports." Don't go to a credit repair doctor, don't read a bunch of wacky advice on self-help websites, don't do any of that, Do what she says.

This week the FTC ordered the massive credit bureau Equifax to disgorge $393,000 in profits and its customer, Direct Lending Source, to pay a $1.2 million civil penalty for selling lists of credit reports for illegal marketing purposes. Meanwhile, Senate Commerce Chairman Jay Rockefeller has announced his own investigation into the practice of unregulated data brokers, the close cousins of the credit bureaus that are already the subject of a bi-partisan House inquiry.

Last week a bi-partisan group of 41 state Attorneys General announced their joint opposition to misguided legislation to take both the CFPB and the states off the payday lender crime beat. Nevertheless, the payday lenders continue to invest in the political process.

A new study shows that web surfers want an easy-to-use Do-Not-Track right to stop online tracking and collection of information about their web choices. But a powerful coalition of web advertisers and web publishers is fighting back, here and abroad, and it claims that such targeted advertising is what makes the Internet "free."

new consumer group, Consumers Count, to fight for arbitration reform

By | Ed Mierzwinski
Consumer Program Director

Today, consumerscount.org launched as a website using "crowdsourcing" to help consumers band together to fight back when they have same complaint against the same company, but are limited by forced arbitration clauses and restrictions on class action rights from obtaining redress. At least until the CFPB bans forced arbitration, we need innovative ideas like consumerscount.

Media Hit | Financial Reform

JPMorgan Chase is sued in 2008 Bear Stearns mortgage case

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The overuse of antibiotics on factory farms is threatening these lifesaving medicines. Call on big restaurants to do their part and stop buying meat raised with critical antibiotics.

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