Equifax Data Breach

Legislation

Friday, August 4, 2017

State laws are becoming more restrictive, adding an extra layer of protection for consumers


Criminal background checks are commonplace Applications for certain employment positions. But what about credit checks? Is a job applicant's credit history relevant for employment? May an employer lawfully check a job applicant's credit?  

State and local laws are becoming more restrictive, adding an extra layer of protection for consumers over and above the federal Fair Credit Reporting Act.  

 

https://www.


Read more . . .


Wednesday, July 26, 2017

Trump and Cordray: Five Scenarios for the CFPB


Here are five potential scenarios on what might happen to CFPB director Richard Cordray once the new president arrives.

One: Bigger Fish Prevail

Competing priorities may push back any big decisions about the CFPB or its director, even if the new administration ultimately plans an all-out assault on the agency, several sources predict.

Two: Congress Moots Controversy

Congress could moot the removal question entirely by changing the CFPB’s leadership structure.

Three: Trump Dismisses Cordray

Trump could dismiss Cordray ahead of the CFPB’s director’s statutory end-of-term in July 2018, and perhaps even as early as Jan. 20.
Read more . . .


Tuesday, July 11, 2017

It just got easier for you to sue your bank and credit card company.


The Consumer Financial Protection Bureau issued a new rule Monday that prevents companies from using arbitration clauses to stop consumers from bringing class action lawsuits.

 The clauses force people to "go it alone or give up," said CFPB Director Richard Cordray. "Our new rule will stop companies from sidestepping the courts and ensure that people who are harmed together can take action together," he said. Many people aren't aware that their bank account or credit card contracts came with an arbitration clause buried in the fine print.

 But they're pretty common.
Read more . . .


Thursday, July 6, 2017

TransUnion to pay $60 million to consumers flagged as criminals


TransUnion will pay $60 million to consumers it mistakenly labeled as possible terrorists or drug dealers, under an order issued Tuesday by a federal jury.

 The decision stems from a 2012 class-action lawsuit that alleged the credit bureau failed to notify consumers who were reported to lenders as being included on a “blocked persons” list kept by the Treasury Department’s Office of Foreign Assets Control (OFAC). The list includes terrorists, narcotics traffickers, arms dealers and other criminals who are prohibited from doing business in the U.S.

Read more . . .


Friday, June 30, 2017

Sloppy Credit Bureaus, Sketchy Credit Doctors Slammed by Trifecta of CFPB, State AGs, and Consumer Lawyers (2/4)


This is part two of a four-part series that looks at how inaccurate credit reporting is being fought by a attorneys, the CFPB, and state AGGs. You may read Part 1 here.

On July 1, thanks to the efforts of a bi-partisan, multi-state enforcement effort by 31 state Attorneys-General, 12 million consumers will see their credit scores increase by up to 20 points; 700,000 of them will see increases of as much as 40 points as certain negative public records, including tax liens and court judgements, drop off their credit reports.


Read more . . .


Friday, June 9, 2017

Your consumer protections, on the brink of destruction in Congress


When Congress sought to make sure that abuses by the financial industry that put our economy on the brink of collapse would never be repeated, it created the Consumer Financial Protection Bureau. Since its founding in 2011, the CFPB has delivered resoundingly, providing $12 billion in relief to 29 million consumers wronged by banks and other institutions.

That success has some members of Congress — their campaigns well funded by the financial industry — lining up to gut the bureau’s powers, with a bill expected to head to a House vote this week.

 The impact of the CHOICE Act on consumers is so potentially devastating that together with three colleagues I wrote and 158 experts in financial services regulation, consumer protection and housing policy signed a letter to Congress urging its rejection.

 The bill would take away the CFPB’s ability to inspect banks, mortgage brokers, foreclosure relief firms, student and payday lenders, debt collectors, credit reporting agencies and auto financing companies to ensure they accurately disclose credit terms to borrowers and that they comply with laws that protect consumers from fraud and other wrongdoing.
Read more . . .


Friday, June 9, 2017

House passes sweeping bill to strip back financial rules


The House of Representatives on Thursday passed sweeping legislation to strip and replace much of the financial regulations passed under former President Barack Obama after the 2008 financial crisis.

The House passed the Financial Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs (CHOICE) Act, 233-186, along party lines. The bill is not expected to pass the Senate. 

Sponsored by House Financial Services Committee Chairman Jeb Hensarling (R-Texas), the CHOICE Act is the most ambitious Republican effort to roll back the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in 2010. Republicans have long targeted Dodd-Frank, saying it has created a crushing regulatory burden that suffocates small businesses and banks while empowering unaccountable bureaucrats.
Read more . . .


Thursday, June 8, 2017

House to vote on killing Dodd-Frank today


Have you been a victim of ID theft?  Check your credit report for errors at annualcreditreport.com.


Read more . . .


Wednesday, May 3, 2017

House GOP’s Bill to Eliminate Nearly All Class Actions Would Encourage More Ponzi Schemes & Other Corporate Cheating


Congressman Bob Goodlatte, introduced a bill ironically titled “Fairness in Class Action Litigation Act,” which passed through the House Judiciary Committee two weeks ago. Its passage was a remarkable feat of avoiding public notice or debate, with Goodlatte ramming through the legislation in the middle of the night, voting down all amendments along party lines, and refusing to even hold a hearing on the bill, which had at least ten new provisions never included in the previous version passed by the Committee.

Goodlatte’s bill was drafted by corporate lobbyists to eliminate the vast majority of class action lawsuits. It would roll back protections for defrauded investors, cheated consumers, people whose privacy has been violated, small businesses harmed by price fixing, workers cheated by wage theft, and pretty much anyone harmed in any way by corporations that break the law.

 


Read more . . .


Archived Posts

2017
September
August
July
June
May
April
March
February
January
2016



© 2017 Law Office of Adam G. Singer, PLLC | Disclaimer | Attorney Advertising
60 E. 42nd St., Suite 4600, New York, NY 10165
| Phone: 212.842.2428
254 S. Main St., Suite 516, New City, NY 10956
| Phone: 212.842.2428
445 Hamilton Ave., Suite 1102, White Plains, NY 10601
| Phone: 212.842.2428

About | Practice Areas | FAQ

Law Firm Website Design by
Amicus Creative