These days it is nearly impossible to walk into a grocery or drug store without seeing a display of prepaid debit and gift cards. Of course these make for great gifts for those special occasions, provide consumers with another financial tool for those that may not have access to credit or credit cards, but prepaid… Read more…
With the outcome of our recent elections, much work is ahead for the existing and newly elected Federal and State Representatives. It is our hope that in 2011, Congress will make sure the new Bureau of Consumer Financial Protection will finally address the growing issue of access to credit in this country. We are going… Read more…
A credit score is a three-digit number that can have a huge impact on your quality of life. First developed by the home loan industry in the 1990’s, today credit scores are used by all lenders and may also be seen by employers, landlords, cell phone, utility companies, and the insurance industry. They use your… Read more…
The new financial reform bill calls for the creation of the Bureau of Consumer Financial Protection. Once the Bureau is created, it will regulate a wide variety of consumer financial services. We hope that the reform bill will protect consumers with limited access to credit and not just consumers of traditional bank products. The leader… Read more…
While some members of the Consumer Rights Coalition have told me they are confident Congress’ financial regulatory reform legislation is a step in the right direction, many remain concerned about how it will impact their access to credit. We are not referring to accessing credit for vacations, concert tickets, or a new dress to wear… Read more…
Credit is a valuable and necessary financial tool. It can help you establish a credit history, make purchases conveniently, and take advantage of the benefits and services offered by credit issuers. But not managing your credit wisely can lead to: Increased interest rates (APRs) Penalty fees A decline in your credit score Denials of future… Read more…
This is a tough time for Americans and no one knows that better than the members of the Consumer Rights Coalition. Access to a variety of credit options is important for many reasons. For some of us, short-term loans are a viable solution while we get through a temporary dry period. Maybe our credit rating… Read more…
On May 20, 2010, the Senate passed sweeping legislation to tighten the rules governing the U.S. financial industry. The bill calls for new regulations aimed at making the failures that led to the 2008 financial crisis less likely in the future. Though it’s not the final bill President Obama will sign, the reforms are intended… Read more…
Last Thursday I did a live radio interview on National Public Radio (NPR). I was excited to have the opportunity to share your views—the views of American consumers who actually use short term credit options such as payday loans and check cashing. These short term loans are sometimes the best option or solution in a… Read more…
While the media is consumed with news of the passage of the Comprehensive Health Care Reform Bill, many of us are still waiting for real changes to the way government addresses our access to credit. The Consumers Rights Coalition (CRC) is a fairly new group, made up of members like you–the real consumer. Too often,… Read more…
