Table of Contents

Occupy Wall Street movement highlights another harm from big banks: loss of privacy
Consumer Action signed onto a letter supporting Occupy Wall Street's demand for corporate accountability and transparency, particularly with regard to privacy violations by big banks.

New protections on remittances offer solid standards for consumers
In a letter to the Federal Reserve Board, Consumer Action joined other advocates in praising new remittance protections for consumers and offering recommendations on problematic areas of the regulations.

OCC must drastically strengthen payday loan and overdraft protections
In a letter to the Office of the Comptroller of the Currency (OCC), Consumer Action and other members of Americans for Financial Reform comment on the OCC's proposed guidance on payday loans and overdraft programs.

Real debt help
Consumer Action partnered with other national consumer groups to provide tips on how to avoid debt relief scams and bogus mortgage relief assistance. The Get Real Debt Help fact sheet explains debt relief danger signs, rules on upfront fees, and where to turn for real debt help. (Available in Spanish and English).

Don’t handcuff the Consumer Financial Protection Bureau
Organizations, including Consumer Action, signed onto a letter opposing two separate bills in the House of Representatives that would greatly limit the effectiveness of the Consumer Financial Protection Bureau (CFPB) by giving discredited banking regulators power to block certain protections.

Old exceptions to risk-based pricing rule must be removed before Dodd-Frank can work
Consumer Action signed onto comments that point out problems with provisions proposed by the Federal Reserve and the FTC that would fail to remove currently-existing exceptions to the risk-based pricing rule (if the creditor makes a credit scoring disclosure) in the Dodd-Frank bill.

CFPB complaint system must resolve complaints and meet public expectations
Consumer Action joined a coalition of organizations in asking the Consumer Financial Protection Bureau (CFPB) to design a complaint and inquiry database that effectively gives consumers the information they need, increases regulatory resources, and provides government agencies with early warning signs of problems in the financial sector.

Office of the Comptroller: Update guidelines on banks, overdraft
Consumer Action sent a letter with coalition partners to the Office of the Comptroller of the Currency asking the agency to address outstanding overdraft abuses and to update the standards it applies to banks.

FDIC deserves praise for work on overdraft practices, but needs to do more
In a letter thanking the Federal Deposit Insurance Corporation (FDIC) for its attempts to curb abusive overdraft practices by banks, Consumer Action and its coalition partners also ask that the agency address remaining issues with overdraft protection, including excessive fees, manipulative transaction posting, and steering.

Push for electronic deposit shouldn’t penalize vulnerable recipients of federal benefits
Consumer Action signed on to a letter aimed at the Department of Treasury's ongoing push to make federal benefits deposits electronic. The letter asks for an articulated waiver procedure that is disclosed and accessible to the minority of recipients for whom direct deposit into a bank account or the Direct Express Card will not work because of factors such as disability or geography.