Articles Tagged with consumer rights attorney

Equifax, one of the three major credit reporting agencies, is responsible to collect detailed data from American consumers, including driver’s license numbers, Social Security numbers and more. Earlier this month, a massive data breach was revealed that may impact as many as 143 million Americans. As many as 209,000 people have had their credit card information, and personal identifying information was exposed on some 182,000 consumers involved in disputes on their credit report. consumer rights lawyer

Despite this, Republican lawmakers continue their push for deregulation of credit agencies, as well as the strength of the Consumer Financial Protection Bureau (CFPB).

The hack is a major deal not only for the fact that Equifax is one of just three national credit reporting companies responsible to rate and track the financial history of consumers. It’s also notable that Equifax won’t be contacting everyone who was affected – only those who dispute records or credit card information was accessed. The company has recommended consumers sign up for identity theft protection, which it is offering free for one year. Doing so, however, may limit your right to file a consumer rights lawsuit against the firm later, instead forcing you into arbitration, unless you file notice with the company within 30 days that you choose to opt out. Continue reading

An eerily familiar scenario is unfolding among those who find themselves swimming in unmanageable debt. Tens of thousands took out loans, but haven’t been able to keep up. And yet, those debts could be wiped clean because important paperwork is missing.debt defense lawyer

But this isn’t the housing crisis of 2008. It’s the student loan crisis of 2017.

The New York Times reports these troubled loans, valued at an estimated $5 billion, are the subject of a drawn-out legal dispute between students and creditors who have aggressively gone dogged those who have fallen behind on their payments. Debt defense attorneys recognize that prevailing in these cases requires a litigator experienced in going toe-to-toe with large banks and institutions. No student is going to be able to count on an automatic win in court, but there are strategies that could prove helpful. Continue reading

Mark one victory in the fight to hold accountable violators of consumer rights under the Telephone Consumer Protection Act. A federal judge in Illinois agreed to certify a class-action lawsuit against a telemarketing firm accused of repeatedly calling people without their authorization – even after the company had been asked to stop.consumer rights

The case, Toney v. Quality Resources Inc., will proceed as a class action after the U.S. District judge ruled named plaintiff’s arguments were persuasive. The calls in question were reportedly automated, and began only after the individual’s in question provided their phone number when making a a purchase of children’s slippers from a third-party online vendor. That contact information, it now seems, was sold to the telemarketing firm, which then used it to target for telephone solicitations. This had allegedly been going on since 2009.

Named plaintiff, who filed her claim originally in 2013, claimed defendant telemarketing firm called her cell phone time after time after she ordered the slippers. Her phone number was on the National Do Not Call Registry. After the telemarketer purchased the information from the slipper company, the telemarketer called those individuals under the guise of confirming customer’s child slipper orders. In fact, the real reason for the call was to convince those consumers to purchase online coupons from a discount retail site, which had contracted with the telemarketer. That discount retail operator was later added to the consumer rights lawsuit, and later settled for $2.15 million. Continue reading

Embattled banking giant Wells Fargo is in even deeper trouble after finding evidence that an additional 1.4 million customer accounts fraudulently opened in customer’s names by employees under pressure to meet unrealistic quotas. If verified, it would bring the total number of unauthorized accounts to 3.5 million since this scandal was first unveiled last year. The revelation marks a 70 percent increase in the scope of the issue compared to the bank’s initial estimate. consumer rights lawyer

While this issue isn’t necessarily political, it does raise questions about politicians still pressing for the weakening of the Consumer Financial Protection Bureau and the Dodd-Frank Act. When the nation’s third-largest bank and biggest provider of mortgages in the U.S. has been dubbed “rogue” by financial analysts, it doesn’t bode well for loosening protections on consumer rights and accountability.

The need for such oversight is even further underscored amid criticism that the bank was snail-like in its acknowledgement of its misdeeds.  Continue reading

Amid news of Wells Fargo’s latest scandal (if you’re keeping track, it involved uncovering evidence employees opened an additional 1.4 million unauthorized customer accounts, adding to the 2.1 million we already knew about), analysts are not holding back with predictions about the bank’s future. consumer rights

Chances are slim-to-none any of those sitting in corporate high rises are going to actually be held to account in a criminal court of law (hasn’t happened to any meaningful degree since the Reagan-era’s savings-and-loan crisis). In fact, none of those folks paid anything above six figures are likely to lose any pay at all over this. Sure, the bank will pay their multi-million dollar fines and some refunds, but these amounts – impressive as they sound – don’t go far enough in affecting the bank’s bottom line.

The one exception could be – maybe – if consumers have finally lost confidence in the bank. That appears to be beginning. The Street reported on analyst from Berenberg says investors should now sell Wells Fargo stock, rather than hold it, citing the bank’s loss of its competitive advantage. The bank’s stock has dropped about 7 percent this year, compared to its biggest rivals, which all reported solid gains of between 5 and 14 percent.  Continue reading

If you’re old enough to remember the 1990s, you may recall the Cohen Brother’s 1996 indie classic, “Fargo.” In one of its iconic scenes involves a car sales tactic wherein a hapless car salesman and a customer haggle over the $500 add-on benefit of “TruCoat.” The customer says he doesn’t want it, and specifically told the salesman he didn’t want it. The salesman insists it’s a worthwhile benefit, and anyway, the factory has already installed – and there is nothing he can do to remove it. He finally offers to take $100 off the price of the TruCoat, which the customer didn’t want in the first place. consumer rights

Wells Fargo customers may well be finding themselves in a very similar scenario, amid a rash of recent scandals rocking the nation’s third-largest bank (and the largest provider of mortgages in the U.S.).

One of the most recent of those cases involves the bank’s teaming up with a home warranty company, which in turn forced its product on customers who weren’t expecting it. Several dozen consumers who filed online complaints with the Federal Trade Commission, alleged they had no idea they were being billed for an optional service they never ordered. When they contacted Wells Fargo to get the bank to get the charge removed, they found a great deal of difficulty, seemingly echoing the “Fargo” car salesman’s refrain, “Yeah, but that TruCoat…”  Continue reading

Wells Fargo recently paid substantial fines for millions of dollars after allegedly deceiving customers by opening up accounts they never requested so the bank could collect fees. Despite copious evidence of theft, no criminal charges were ever filed.consumer rights

Now, the bank is accused of arbitrarily closing customer accounts that individuals really needed, leaving them without access to their money. Here again, there is no discussion of criminal charges.

The bank reportedly revealed in a regulatory disclosure that the Consumer Financial Protection Bureau is exploring claims of financial misconduct pertaining to its depositors and borrowers. Among those are complaints from customers who say they endured financial hardship over the last several years after the bank suddenly closed or froze their accounts – a move they were not expecting. Continue reading

A internal report from executives at Wells Fargo has determined more than 800,000 people who took out loans for their vehicles were forced into buying unnecessary auto insurance. Some of those people are still paying for the coverage, and the expense has pushed a quarter million of them into delinquency. Additionally, some 25,000 people suffered wrongful vehicle possessions as a result of this practice. debt defense lawyer

The 60-page report was obtained by New York Times reporters, who noted that some of those affected included members of the U.S. military who were on active duty.

As our debt defense lawyers know well, this is not the first time Wells Fargo has landed in hot water for strong-arming customers into coverage or accounts they did not need. Most recently, the company incurred millions of dollars in fines when it was revealed employees generated millions of bank accounts and credit cards for which customers never asked. The fines were imposed on the bank just last year.  Continue reading

It’s well-established that free and open markets are the foundation of a vibrant economy. When competition is aggressive among open-market sellers, both businesses and individuals are supposed to benefit from higher quality services and goods as well as lower prices. The laws that enforce the rules of a fair, open market are called antitrust laws. Consumer rights attorneys know that these laws are important not just to businesses, but to individuals. consumer rights lawyer

Recently, journalism outlet Vox delved into whether the economic gap of income inequality between the coastal cities, which are overall thriving, and Middle America, may be blamed on lack of antitrust enforcement.

This all started with President Ronald Reagan, and a policy to mute the impact of antitrust oversight. The idea was to make it easier for large companies to merge. In so doing, however, large companies became extremely powerful, consolidating market power and trampling their competition. Prior to Reagan’s antitrust policies, monopolies were largely prevented from forming. Now though, we see such mega-firms commonplace in almost every industry, from pharmaceuticals to technology to retail. Yes, they are bad for competition, but it’s being speculated that they are also largely to blame for the decline of a number of cities across the country.  Continue reading

Tort reform supporters in Congress are fired up, gaining significant traction in recent weeks with a number of proposed measures that could substantially undercut consumer rights. people

One of the most troubling bills takes aim at class action lawsuits.

Misleadingly dubbed the, “Fairness in Class Action Act,” H.R. 985 passed 220-201 (largely along party lines), the measure might be more aptly named the Class Action Elimination Act.

The reality is this bill creates procedural and evidentiary burdens that some opine are so high, it will be nearly impossible to pursue class action litigation. That would be a huge blow for consumer rights because it’s a key tool consumers have to level the playing field against large companies for unfair dealings.  Continue reading