Saturday March 20 , 2010

Consumer News

Below are stories and information that we think you might find useful.  All of these articles and stories are from sites other than our own.  We choose these sites because we believe their information is accurate and useful.

Latest

Consumer Financial Protection Agency Is In Doubt

The Wall Street Journal writes that the creation of a Consumer Financial Protection Agency is in doubt. Senator Christopher Dodd is cited as saying that the Democrats will drop their bid for the creation of an independent consumer protection agency if Republicans agree to beef up the already existing consumer- protection agency within another federal agency.  This could be a blow to reforms against businesses who pray on unweary consumers. Consumer groups have lobbied hard for a federal agency whose only job it protecting consumers.

Read The Entire Article Here

 

FTC Settles Two Cases Against Bastian and Hurt

Concluding a case that drew the largest civil penalty ever imposed on a debt collection business, the Federal Trade Commission settled with the two remaining individual defendants who allegedly misled, threatened, and harassed consumers; disclosed their debts to third parties; and deposited postdated checks early, in violation of federal law. The settlement order requires each of these senior managers to pay a civil penalty and bars them from future violations.

 

FTC Warns of Haiti Scams

In the wake of the devastation caused by the earthquake in Haiti, the Federal Trade Commission warns consumers to choose carefully when considering urgent appeals for aid in the news, online, and at social networking sites.  The best way to provide immediate help is to donate money directly to established national relief organizations that have the experience and means to deliver aid.

   

Mann Bracken Ordered To Cease Collections

Mann Bracken, one of the largest collection law firms in the country is shutting down. While no official bankruptcy filing has been made many States are starting to take aggressive action against the collection firm.