New York Consumer Law Blog

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.
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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.


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Sunday, June 4, 2017

CFPB Report Details Problems, New Requirements Consumer Reporting Companies Must Implement


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


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Tuesday, May 30, 2017

CRCs Might Now Ignore Certain Kinds of Data in Calculating Your Credit Score


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


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Monday, May 29, 2017

Big auto lender only checked 8% of applicants' incomes


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


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Friday, May 26, 2017

One Step Forward, One Step Back?


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


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Friday, May 19, 2017

A record 107 million Americans have car loans


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


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Thursday, May 18, 2017

Job applicants claim inaccurate background check report prevent them from finding a job


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


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Wednesday, May 17, 2017

AT&T faces thousands of complaints about overcharging for services


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

A CBS News investigation has uncovered over 4,000 complaints against AT&T and DirecTV related to deals, promotions and overcharging in the past two years.


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Tuesday, May 16, 2017

Massive ransomware attack hits 99 countries


Tens of thousands of ransomware attacks are targeting organizations around the world on Friday. Cybersecurity firm Avast said it has tracked more than 75,000 attacks in 99 countries. It said the majority of the attacks targeted Russia, Ukraine and Taiwan.

 The ransomware locks down all the files on an infected computer and asks the computer's administrator to pay in order to regain control of them. "Affected machines have six hours to pay up and every few hours the ransom goes up," said Kurt Baumgartner, the principal security researcher at security firm Kaspersky Lab.


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Monday, May 8, 2017

Wronged Wells Fargo customers are finally getting a bit of payback


Wells Fargo has reached a $110 million preliminary settlement to compensate all customers who claim the scandal-ridden bank opened fake accounts and other products in their name.

It's the first class action settlement by Wells Fargo since authorities revealed in September that the bank opened up to 2 million fake accounts to meet unrealistic sales targets that have since been eliminated.

Wells Fargo said on Tuesday the payments to customers will be in addition to refunds the bank has already paid out.

The settlement is expected to cover several lawsuits: including one filed in May 2015 in the Northern District of California, a separate one launched last September by customers, as well as 10 others. Wells Fargo's $110 million settlement marks a reversal from just a few months ago when it tried to kill a fake account lawsuit by forcing victims to resolve their claims quietly in closed-door arbitration instead of open court.
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