Financial Reform

News Release | CALPIRG | Financial Reform

Legislature Approves the Homeowners Bill of Rights

Sacramento, CA—Today legislation was approved by both the California State Senate and Assembly aimed at addressing problems contributing to the persistent foreclosure crisis in California. The legislation is modeled after the national mortgage settlement between five of the nation’s largest banks and forty nine state attorneys general.

News Release | US PIRG | Financial Reform

Responding to Students, Congress Extends Low College Loan Rate

 

Statement of Rich Williams, U.S. PIRG Higher Education Advocate, on the U.S. Congressional passage of bipartisan legislation to prevent subsidized Stafford student loan interest rates from doubling:

 

News Release | CALPIRG | Financial Reform

Homeowners Bill Of Rights Approved By Conference Committee

This morning legislation was approved by a special foreclosure conference committee aimed at addressing problems contributing to the persistent foreclosure crisis in California. The legislation is modeled after the national mortgage settlement between five of the nation’s largest banks and forty nine state attorneys general.

The foreclosure reform conference committee is expected to come out with their report next week, likely after the budget votes are wrapped up. Here is what CALPIRGis hoping ends up in the policy. If the legislation contains these elements it will help struggling borrowers stay in their homes and help California's economy right itself. 

News Release | CALPIRG | Financial Reform

Common-Sense Refinancing Options Could Save California Homeowners $5.6 Billion A Year

Data released today by CALPIRG finds that making it easier for homeowners to refinance their mortgages could give consumers more options, save money, and stabilize California’s housing market. In California alone, 1.3 million families could qualify, saving them $5.6 billion a year.

Report | CALPIRG | Financial Reform

No More Excuses from the Banks:

Too often homeowners—even those who pay their mortgage on time every month —encounter unnecessary obstacles such as paperwork, high fees and restrictive requirements when they try to refinance into today’s lower interest rates. This results in a needless drain on family income and a continuing drag on the housing market.

CFPB launches searchable credit card complaint database today

By | Ed Mierzwinski
Consumer Program Director

Joining agencies including those that regulate cars (NHTSA's safercar.gov), toys and other consumer p roducts (CPSC's saferproducts.gov), medical devices (FDA's Maude) and airline service (DOT's sorta clunky Air Travel Consumer Protection Report), today the Consumer Financial Protection Bureau rolls out a searchable online complaint database (goes live 8am EST). The CFPB's new tool will be limited to credit cards to start, but other financial products will be added.

News Release | CALPIRG | Financial Reform

Using mortgage settlement funds in budget could cost CA in the long run

Sacramento, CA—In Governor Brown’s May revision of the budget he proposes spending $292 million of the national mortgage settlement to help fill the state’s budget gap this year, and the remaining $118 million next year. The majority of these funds, $198 million, will go toward paying off general fund bond debt in the current budget.

(Update: phottos added.) Today, U.S. PIRG will be an invited guest as the Consumer Financial Protection Bureau proposes new mortgage servicing rules to prevent, among other things, a recurrence of the robo-signing scandal. Among the other important news items of the week, in case you missed it, Ohio has made it harder for aggrieved consumers to obtain redress when ripped off.

News Release | U.S. PIRG | Financial Reform

U.S. PIRG Applauds CFPB Proposal To Regulate Biggest Credit Bureaus

“Last summer over 10,000 PIRG members submitted comments to the Consumer Financial Protection Bureau (CFPB) urging strict regulation of credit bureaus and credit scoring firms. We applaud the CFPB for its proposal today to subject the nation’s largest credit bureaus and credit scoring firms to full scrutiny as “larger participants” (CFPB pdf) in the financial marketplace."

Pages

Subscribe to RSS - Financial Reform

DEFEND THE CFPB

Tell your representative to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.
Optional Member Code

Support Us

Your donation supports CALPIRG’s work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.