Payday Loans Called “Ridiculous”

That’s the statement from Chattanooga City Council member Carol Berz after that city’s Mayor’s Council on Women released a study on payday lending. Here’s more from the Chattanooga Times-Free Press: In a new assessment of short-term payday loans, the Chattanooga Mayor’s Council on Women said such loans cost borrowers too much, are too frequently rolled […]

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No Free Pass for Wall Street

From our national partners at People’s Action: Elizabeth Warren calls them “tricks and traps.” She meant all the sleazy ways big banks, predatory lenders, and debt collectors work to take billions of dollars from our families. They’re the same schemes that crashed the economy in 2008 — leaving people without jobs, without houses, and causing […]

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Tell Congress: Don’t Gut the Rules on Wall Street

Tennessee consumers depend on the protections provided by the Consumer Financial Protection Bureau (CFPB) — that’s why it’s so disappointing to see lawmakers like David Kustoff of TN’s 8th Congressional District support the Wrong CHOICE Act that would gut critical consumer protections. Here’s more about why Wall Street needs a strong cop on the beat […]

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Send a Message on the Wrong CHOICE Act

Consumers and community groups all across TN are joining together to oppose the Wrong CHOICE Act. Call your Representative to vote NO on rolling back consumer protections: (202) 224-3121. Learn more about the Wrong CHOICE Act and how you can stop it!   For more on consumer protection in the financial services industry, follow @TNCitizenAction […]

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Making Prepaid Cards Better

Prepaid cards are a growing segment in the financial sector — a way to get paid and to pay bills. Eric Johnson, Dean of Vanderbilt’s Owen Graduate School of Management, wrote recently that it’s important these cards have protections in place for consumers. Here’s some of what he had to say: Nearly a third of […]

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Holding Government Officials Accountable

Tennesseans should be able to count on their government officials to show up to work and advocate for what’s best for our state. When they don’t, we work to hold them accountable. Newschannel5’s Jennifer Kraus reports on Tennessee’s Commissioner of Commerce and Insurance – the state’s top insurance regulator — and her tendency to be […]

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Fighting for Lara

For the past two years, we’ve worked with Jay and Gerri Gass on legislation known as “Lara’s Law” that would prevent used car dealers from selling cars under recall until they are repaired. We told you about how lawmakers on the Senate Transportation Committee refused to even grant the bill a hearing. Here’s a story […]

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Military, Veterans Groups Stand up for CFPB

A coalition of military and veterans groups sent a letter to congressional leaders recently stand up in support of the Consumer Financial Protection Bureau (CFPB). Here’s what they had to say: Dear Chairmen Crapo and Hensarling & Ranking Members Brown and Waters: We, the undersigned representatives of organizations who advocate for our nation’s military servicemembers, […]

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Protecting Prepaid Card Users

It’s up to Congress. NewsChannel5 reports: Currently, prepaid cards are not required to carry the same fraud protections as standard credit or debit cards and can come packed with hidden fees that can quickly reduce available funds.  A new rule finalized by the Consumer Financial Protection Bureau last October sets an industrywide standard on fee […]

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Wells Fargo’s False Promises

Forced arbitration. Bad for consumers, great for banks and other big businesses. Wells Fargo forced customers into forced arbitration, attempting to prevent class action suits and mitigate the impact of other legal claims against the scandal-ridden big bank. The L.A. Times reports: We’ve pointed out before that big companies like Wells Fargo love to force […]

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