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I was joined today by Ryan Powell, a UMASS Boston student and chapter chair of Mass Student PIRG to urge a State House Committee to pass S.160, An Act Establishing a Student Loan Bill of Rights, filed by Senator Lesser.  The bill will protect student loan borrowers from unfair, predatory, and deceptive practices of student lending and loan servicing companies. Read our testimony below.

As CFPB Reviews Overdraft Rules, UK Regulator Makes Pro-Consumer Changes

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

As the CFPB conducts a ten-year regulatory review of the Overdraft Rule established by the pre-CFPB regulators in 2010, the UK's Financial Conduct Authority has announced sweeping changes to address what it calls a "dysfunctional" overdraft market. The US system prohibits overdraft fees on debit and ATM transactions unless you opt-in to fee-based "standard overdraft protection," but the fees average over $32 per overdraft and CFPB has accused some banks of deceptive marketing of the service. Meanwhile, the UK's FCA is banning fixed fee overdrafts and requiring UK banks to treat overdrafts as loans subject to reasonable interest rates. We've asked CFPB to ban overdrafts on debit and ATM transactions.

Here’s how manufacturers argue against repair.

By | Nathan Proctor
Director, Campaign for the Right to Repair

In March, the FTC announced a new workshop called “Nixing the Fix,” which will investigate how companies “limit repairs by consumers and repair shops and whether those limitations affect consumer protection, including consumers’ rights.” Last week, the FTC posted submitted comments for it's Nixing the Fix workshop, and by reviewing those comments, it's clear that manufacturers and their lobbying associations are doubling down on their arguments.

Consumer Privacy Fight In Congress Intensifies

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

The media are reporting that efforts led by BigTech and BigPhone to push Congress to enact a self-serving umbrella privacy law on Capitol Hill are stalling. But that's only for now; they are still pushing hard. Pushback from legislators with stronger state laws is helping slow them down. So are the welcome efforts of civil rights colleagues to demand that digital and algorithmic decisions not discriminate. There's an important civil rights briefing later this afternoon on Capitol Hill. Learn more. 

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