Watchout for Arbitration Clauses Consumers! The CFPB has found these clauses everywhere the consumer buys virtually any good or service with a contract. The CFPB has found no evidence to support the business-lobby’s claim that arbitration keeps costs down. Instead, the CFPB has found that they block consumers from effective means to fight rip-offs by,…
Equifax, Experian, and TransUnion will soon stop reporting debts that did not arise from a contract or agreement with the consumer being reported, such as tickets or fines. Also, they won’t start reporting medical debts until after a 180 day waiting period, they will also remove reported medical debts being paid by insurance companies. This…
The Attorney General of New York has reached a $14 million settlement with three car dealerships and plans to sue several others in a crackdown on the sale of unlawful credit repair services and other after-sale items that impose hidden or illegal fees on car buyers. The deal with jointly-owned New York City-area dealers, Paragon…
The FCC voted on Thursday to expand the scope of the Telephone Consumer Protection Act to crack down on robocalls from telemarketers. The agency has indicated that under the rule, companies are barred from telemarketing with “autodialers,” or any type of device with the potential to dial or sequence random numbers, must honor a customer’s…
The CFPB (Consumer Financial Protection Bureau) has filed suit against an automobile lender in Ohio for allegedly trying to collect on debts of military service members by threatening to inform their superiors that they violated the Uniform Code of Military Justice. Security National Automotive Acceptance Company’s alleged practices of telling customers they violated the UCMJ,…
Equifax Information Services LLC, Experian Information Solutions Inc. and TransUnion LLC have agreed to pay $6 million to 31 states to resolve an investigation into customer disputes over errors in their credit reports, fraud and identity theft, the states announced Wednesday. The Ohio Attorney General’s office led the investigation starting in 2012, which looked into…
Takata Corp. has formally declared many of its air bags defective as part of a consent order with the U.S. Department of Transportation. The order also expands a recall of the products to 34 million vehicles — the largest ever. Alongside the order signed Monday, Takata submitted four defect reports that double the size of…
NHTSA has opened an investigation into 130,000 model year 2008 through 2010 Nissan Versa vehicles after receiving complaints of fractures occurring in the front suspension coil spring, which can lead to tire or brake line damage.
The National Highway Traffic Safety Administration (NHTSA) ordered Fiat Chrysler Automobiles U.S. LLC to turn over extensive information on 20 of its vehicle recalls to it on Monday after regulators expressed concern that the automaker has failed to adequately remedy safety defects. The 20 recall campaigns in question involve a wide range of defects, including…
Federal legislation was introduced Friday in both the Senate and the House of Representatives toprevent companies from renting defective or recalled motor vehicles that have not been repaired, proposals the sponsors say would hold rental companies to the same standard as auto dealers. The Senate bill, which has been proposed in each of the past…
