Consumer Watchdog

Source: www.thenation.com --- 9 hours ago
Sen. Chris Dodd came out swinging today to defend his revamped proposal for fixing the financial regulatory system, and he’s won cautious support from some key reformers. Bailout Watchdog Elizabeth Warren, who has been the most vocal Beltway advocate of an independent agency to protect consumers, called the bill an “important step” and no Democratic members of Dodd’s Banking Committee have rejected it. Check out the bill’s summary here . The primary complaint, however, remains Dodd’s choice to house a new Consumer Financial Protection Agency inside the Federal Reserve rather than make it a stand-alone regulator. It’ll be a bureau, not an agency. Dodd strongly defended the move, arguing that creating a bureau inside the Fed strengthens rather than weakens the effort. As Huffington Post reports , Dodd’s main point is budgetary: The bureau would be funded through the Fed’s money and thus shielded from the political whims of congressional appropriation. “Look at Equal Employment Opportunity Office, what happens when you starve a budget,” Dodd told HuffPo. “You can have all the wonderful laws on the books; if you don't have a budget that allows you to operate, you die.” Fair enough. And the director will be presidentially appointed for five year terms. But critics point to a provision that allows an oversight board to rein in the bureau if it treads too heavily on the “safety and soundness” of the banking se ...

Source: www.news.com.au --- 4 days ago
SKY-high airport parking fees are taking drivers for a ride around the country. ...

Source: www.telecompaper.com --- 5 days ago
(Telecompaper) Cable operator UPC Netherlands has filed an appeal against fines issued by the Consumers Authority. A court in Rotterdam will hear the case on 15 March... ...

Source: www.postchronicle.com --- 6 days ago
Corker, in an interview on CNBC Television, said the committee will work through "administrative issues" regarding the Consumer Watchdog plan on Tuesday and Wednesday. ...

Source: mobile.reuters.com --- 6 days ago
WASHINGTON (Reuters) - Members of the Senate Banking Committee drafting financial reform have "about reached a balance" on the controversial Consumer Watchdog proposal, Republican Senator Bob Corker said on Tuesday, indicating a bipartisan deal could be reached soon. ...

Source: www.etravelblackboard.com --- 7 days ago
Korean Air has become the latest airlines targeted by the Australian Competition and Consumer Commission for collusion in the air cargo industry. ...

Source: www.consumerwatchdog.org --- 7 days ago
Insurers Would Get Tens of Millions of New Customers Under Reform, and Owe Americans a Break from Audacious Rate Spikes By Anthem Blue Cross and Others Washington, DC -- Consumer Watchdog called on President Obama to impose a national freeze on health insurance rates before health reform takes effect to protect consumers from premium hikes like the 39% increase recently announced by Anthem Blue Cross in California. The rate freeze is one of five tools Consumer Watchdog urged the president to include as part of his proposed fixes to the Senate health care bill. ...

Source: www.risk.net --- 7 days ago
Risk.net ...

Source: twitter.com --- 9 days ago
LindaBlog: New post, "Autonomy of Consumer Watchdog Is in Dispute – New York Times" - http://bit.ly/cBcHgs ...

Source: www.sayfienews.com --- 9 days ago
NYT: Autonomy of Consumer Watchdog Is in Dispute ...

Source: www.nytimes.com --- 10 days ago
In creating an agency to protect consumers from deceptive financial practices, the biggest hurdle for Congress and the White house is figuring out how independent it should be. ...

Source: resources.bnet.com --- 11 days ago
The Feds may finally give us a Consumer Financial Protection Agency, but questions remain about how it will work. MoneyWatch editors discuss this political hot potato. ...

Source: blogs.findlaw.com --- 12 days ago
Much has been written of late about the activities of health insurance provider Anthem Blue Cross in California. First, the insurer announced a rate hike of 39 percent , resulting in hearings in Washington and Sacramento. Then, California Insurance Commissioner Steve Poizner announced an investigation into possible violations by the company of California regulations and law. Now, according to The Los Angeles Times , Anthem is being sued by Consumer Watchdog for claimed violations of the state's health and safety and business codes.  The L.A. Times reports that the Consumer group's suit, filed in Ventura County Superior Court on Monday, claims Anthem Blue Cross closes "blocks of health insurance business" without offering comparable options. This action comes on the heels of the proposed rate hike. The Times writes that Plaintiff Randy Freed, and wife, Donna, were informed in September that their policy would be closed to new members. When a block of insurance is closed, it drives up premiums for remaining members, who must divide the costs among a smaller number of policy holders. The Freeds tried to find another Anthem policy, but all the options had higher deductibles and fewer benefits. According to an article on the Consumer Watchdog website , the suit alleges that Anthem's actions of closing certain health plans like the Freed's to new customers without providing comparable coverage to existing members, trap those existing cust ...

Source: mobile.reuters.com --- 12 days ago
WASHINGTON, March 3 (Reuters) - Representative Barney Frank, chief architect of financial reform in the U.S. Congress, said on Wednesday he "could, if necessary," support housing a new financial Consumer Watchdog in the Treasury Department. ...

Source: www.financial24.org --- 13 days ago
By Kevin Drawbaugh WASHINGTON, March 2 - Senior Democrats in the U.S. Congress on Tuesday sharply criticized discussions among key senators on possibly making a new government Watchdog for financial consumers a division of the Federal Reserve. Re Democrats slam putting US Consumer Watchdog in Fed ...