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U.S. Sues Bank of America for Countrywide’s “Brazen” Mortgage Hustle

By Norma Garcia   The Washington Post reported today that the top federal U.S. prosecutor in Manhattan filed a civil lawsuit against Bank of America for more than $1 billion for mortgage fraud.  The complaint filed by the US Attorney seeks to recover damages and penalties for a scheme to defraud Fannie Mae and Freddie […]

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Posted by Consumers Union on Wednesday, October 24th, 2012 | No Comments »


Shop with Joe the Pig

We’re making huge progress in our campaign to get Trader Joe’s to stop selling meat raised with antibiotics thanks to thousands of you that have signed petitions, taken flyers to local stores and sent emails to company execs. How else can you show your support for no-antibiotics meat?  Check out our new  ‘Joe the Pig’ […]

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Posted by Consumers Union on Wednesday, October 24th, 2012 | No Comments »


What’s Happening to the National Mortgage Settlement Funds?

by Norma Garcia   In February 2012 The U.S. Department of Justice and Attorneys General from 49 states announced a $25 billion settlement with five major banks in the country to settle allegations of fraudulent robo-signing of mortgage documents and other abusive practices that contributed to a record number of foreclosures in recent years.     However, […]

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Posted by Consumers Union on Friday, October 19th, 2012 | 2 Comments »


California Agencies Issue Alert on Loan Modification Scams

by Norma Garcia   Here is some good advice for homeowners considering a home loan modification.  The California Department of Corporations says you should beware of individuals contacting you to arrange a loan modification for a fee.  The practice of charging an advance fee to assist you in this manner has been against the law […]

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Posted by Consumers Union on Friday, October 19th, 2012 | 1 Comment »


CFPB Releases Guide to New Rules on International Money Transfers

This week, the Consumer Financial Protection Bureau (CFPB) released a guide for small businesses on its remittance rule, which will protect consumers who send money electronically to foreign countries starting February 2013.  The guide explains the key provisions of the rule and highlights important issues businesses should consider as they put the new rule into practice. Under the new […]

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Posted by Consumers Union on Friday, October 19th, 2012 | No Comments »


Bill would require new reporting on antibiotics use in meat production

We already know that an estimated 80% of antibiotics sold in the US are given to livestock.  But what kind of antibiotics, in what quantities, and for what purpose? Rep. Harry Waxman (D-CA) held a press event this week announcing his plan to introduce a new bill to the House called the ‘DATA’ Act (Delivering […]

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Posted by Consumers Union on Thursday, October 18th, 2012 | No Comments »


New Report Finds Direct Deposit is Key to Avoiding Rising Bank Fees

The Consumer Federation of America just released a new report finding that consumers are having difficulty avoiding rising checking fees unless they directly deposit regular income checks such as paychecks, pension checks, and Social Security checks.  In a survey of the top 25 banks by number of branches,  CFA found that checking account fees and […]

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Posted by Consumers Union on Wednesday, October 17th, 2012 | No Comments »


New CFPB Report Finds Troubling Facts About Private Student Loan Industry

 Yesterday, the Consumer Financial Protection Bureau (CFPB) released its first annual report on student loans, focusing on problems with the private student loan market.  The report found that borrowers were often surprised by the terms of their loans, had trouble contacting their loan servicers, and had few options for refinancing their loans. This is especially troubling, […]

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Posted by Consumers Union on Wednesday, October 17th, 2012 | No Comments »


Leaving Your Megabank Just Might Be a Wise Investment

It’s no surprise that many consumers are still fed up with the biggest banks in the country for a lot of reasons: the reckless behavior that contributed to the economy’s collapse, the taxpayer bailouts, the outsized executive compensation packages, and repeated efforts to thwart financial reform.  On a more personal level, consumers are simply tired […]

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Posted by Consumers Union on Thursday, October 11th, 2012 | 2 Comments »


Get the Facts: Walmart’s AmEx Bluebird Prepaid Card

There’s been a lot of noise after American Express and Wal-Mart announced their new Bluebird Prepaid card earlier this week, including many praises for its low fees and new features. Fox News frames prepaid cards as a threat to banks, as more consumers choose prepaid in lieu of their bank accounts and debit cards.   Business […]

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Posted by Consumers Union on Thursday, October 11th, 2012 | 4 Comments »


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