Articles Tagged with consumer protection attorney

Researchers from The Ohio State University, Rutgers University, the Chicago Fed and Georgetown University have concluded banks are attempting to influence voters’ opinion of the Dodd-Frank Act, hoping to discredit the truth: That the financial reform measure has been great for consumers. It’s also opined the banks are seeking to influence Congressional action on a bill to reform the financial measure. foreclosure lawyer

Specifically, the study authors posit in their working paper, “The Politics of Foreclosure,” that banks responsible for servicing delinquent mortgages held off on proceeding with foreclosures in electoral districts where members of the House Financial Services Committee are poised for re-election. The researchers discovered that although there was no difference in the rates of mortgage delinquency between non-committee districts and committee districts, the committee districts had far lower rates of foreclosures.

Basically, the banks were turning down the volume on the foreclosure complaints committee members would receive. Because there would not be as many foreclosures in those districts, there would be far fewer complaints from constituents regarding the financial hardship of the mortgage crisis fallout. In turn, the Congressional leaders would be more lenient during the debate on the bill, giving the banks an edge.  Continue reading

The Department of Justice is reporting an additional multi-million dollar fine against banking giant Wells Fargo for the illegal seizure of motor vehicles from active military service members.debt defense lawyer

Federal law mandates that any bank seeking to repossess the vehicle of an active duty service member must first get a court order. Wells Fargo didn’t in hundreds of cases – and it’s not the first time.

Last September, CNN Money reported the banking institution would pay $24 million in order to settle allegations that it had unlawfully repossessed the vehicles of nearly 415 soldiers, absent a court order, in direct violation of federal statute. These repossessions took place between 2008 and 2015, with the initial complaint coming from an Army National Guardsman who alleged his car was repossessed as he prepared to deploy to Afghanistan. The vehicle was later auctioned and the bank attempted to collect $10,000 from the serviceman’s family. Continue reading

The Federal Communication Commission reports U.S. consumers are on the receiving end of approximately 2.4 billion robocalls every month (as of last year). That’s an increase from the average 1.5 billion roboscam calls that were made monthly in 2015. So it’s unsurprising that robocalls are the No. 1 consumer complaint. These were driven in large part by internet-powered telephone systems that have allowed scammers to make massive volumes of calls cheaply and efficiently from any point on earth. consumer rights lawyer

Even though the FCC and other agencies have protections in place to help consumers avoid these unwanted (and sometimes dangerous) calls, the number of those that are received are still extremely high. These calls are more than just annoying. The reality is many people are scammed out of their hard-earned savings, retirement accounts or checking accounts. For example, just one scheme in which robocallers were pretending to be agents with the Internal Revenue Service garnered scammers more than $54 million in a single year, according to the FCC. If there was no financial incentive, people wouldn’t make these calls. Clearly, they are worth the scammers’ time.

As The New York Times recently reported, there may be several actions consumers can take to protect themselves. These ranged from not answering the phone to seeking government help.  Continue reading

Tens of thousands of student loan lawsuits are filed every year by creditors who allege default on collectively billions of dollars in private student loan debt. student loan attorney

Although we are teetering on the edge of a student loan debt crisis, the reality is many of these lawsuits are riddled with factual and legal errors. Some borrowers who have defaulted may assume the outcome of the case against them is a foregone conclusion – they will lose. However, those who are fighting back against student loan lawsuits are discovering there are a number of effective legal strategies that may help them fight off a large judgment against them.

Miami student loan debt attorneys are closely familiar with the defenses outlined recently by The New York Times, which detailed the top ways these lawsuits fail (and work out in your favor).  Continue reading

We are now slightly more than a month in to the Trump presidency, and Democrats are already gearing up for the next election, setting their sights on the next mid-term. However, if they want to prevail, they are first going to have to acknowledge and accept that the Obama administration did not oversee a golden era of financial and economic policies – no matter what kind of challenges he inherited.miami

The reality is Obama had many opportunities to help those in the working class, and he repeatedly declined to seize them.

The two main areas to which we refer:

  • Obama’s handling of the foreclosure crisis/ subsequent bank bailouts. The end result of the policies adhered to on these fronts resulted in concentrated financial power, rather than support of the American middle class.
  • Enactment of pro-monopoly policies. This approach crushed rural area economies, so it was unsurprising many of those voters – even those who had previously voted for Obama – swung to the side of Donald Trump.

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A company that promises to protect consumers from identity theft has been accused of violating a federal court order that requires it to keep those promises and refrain from deceptive advertising. lock

The case against LifeLock dates back several years, but now,  the Federal Trade Commission (FTC) announces LifeLock has agreed to a $113 million settlement in the matter – the largest monetary award ever wrangled by the commission in an enforcement action.

The FTC first took action against the firm five years ago, when it alleged in the U.S. District Court for the District of Arizona that the company didn’t deliver on advertising claims promoting its identity theft services. The firm vows to keep consumers’ sensitive personal information shielded from thieves. But the FTC alleges the company failed to provide the kind of protection it promised, meaning it misled consumers with advertising that was deceptive. Continue reading

The U.S. Senate recently took one major step toward protecting the rights of consumers and the integrity of capitalism in the 21st Century with its passage of the Consumer Review Freedom Act (S. 2044, H.R. 2110). The bill targets so-called “gag clauses” or “non-disparagement agreements,” which some companies use to curb criticism online.enterkey

Although many companies have argued that competitors or others are unfairly using online tools to spread falsehoods or maliciously damaging their reputation without cause, the flip side is that consumers have been penalized thousands of dollars for posting negative – but honest – online reviews. These reviews are widely used by prospective customers to determine whether to buy a service or patronize a location, so there is a lot at stake on both sides.

These dubious non-disparagement clauses are often tucked into the fine print of the purchase agreement, and have been found on even the most seemingly inane purchases, such as cellphone accessories. Others have been found in rental agreements with landlords, wedding contractors or sellers of weight loss products. Continue reading