The U.S. Public Interest Research Group (PIRG) joined Public Citizen in calling on Congress to take immediate action to empower the Federal Trade Commission (FTC) to protect consumers from payday loan scams. The move comes in the wake of a Supreme Court decision in favor of payday predators. That decision was blasted by the current acting Chair of the FTC.
U.S. PIRG’s Senior Director for Federal Consumer Programs Ed Mierzwinski released the following statement:
On the heels of a Supreme Court ruling that favored legalized loan sharks, consumer advocacy group Public Citizen called on Congress to take immediate action to update and improve current law.
The U.S. Supreme Court issued an opinion today in AMG Capital Management, LLC v. FTC, holding that Section 13(b) of the Federal Trade Act does not empower the Federal Trade Commission (FTC) “to seek, or a court to award, equitable monetary relief such as restitution” or other restorative relief. Public Citizen filed an amicus brief arguing that 13(b) does grant the Commission power to ask a court, and a…
Federal Trade Commission Acting Chairwoman Rebecca Kelly Slaughter issued the following statement regarding today’s decision from the U.S. Supreme Court in the matter of AMG Capital Management LLC v. FTC:
“In AMG Capital, the Supreme Court ruled in favor of scam artists and dishonest corporations, leaving average Americans to pay for illegal behavior,” Acting Chairwoman Rebecca Kelly Slaughter said. “With this ruling, the Court has deprived the FTC of the strongest tool we had to help consumers when they need it most. …
President Biden recently announced his American Jobs Plan, a sweeping $2 trillion infrastructure and jobs package that would reshape the American economy by making the biggest investment in our nation’s systems in decades. In response, Consumer Federation of America wrote to key Administration officials stressing that transforming our nation’s energy sector is currently one of the most important aspects of future economic policy. “We believe that the American Jobs Plan will create jobs, lead to a more resilient electricity grid, and modernize power generation through cleaner and lower cost energy alternatives,” said Jack Gillis, CFA’s Executive Director.
The transformation of…
The Maryland Consumer Rights Coalition (MCRC) announced today the launch of the Medical Debt Freedom Fund.
Here’s more on what it is and how it works:
The vicious circle linking health and poverty remains a challenge in Maryland. The rising cost of insurance coupled with an unexpected medical emergency can lead to medical debt — one of the biggest drivers of consumer debt today. Our Preying on Patients report found that Maryland hospitals, which are paid to provide free healthcare to low-income families, instead sued 145,746 low-income and working families to collect medical debts below $5000. …
In a rare form of bipartisan agreement, a group of 25 Attorneys General (AGs) sent a letter today to Congressional leadership urging it to “use the Congressional Review Act (CRA) to rescind the Office of the Comptroller of the Currency’s (OCC’s) “True Lender” rule in order to “safeguard states’ fundamental sovereign rights to protect their citizens from financial abuse.”
The bipartisan letter included the AG in Arkansas, where voters approved a 17% interest rate cap on payday and installment loans in 2010, as well as AGs from Nebraska, South Dakota and Colorado, where voters overwhelmingly supported a 36% interest rate…
A bipartisan commission has said Tennessee is underfunding public schools by $1.7 billion. Meanwhile, the state has a surplus for the current year of over $1.4 billion, and projections are that number will be over $2 billion by the end of the fiscal year. Additionally, state reserve funds are sitting at about $7.5 billion.
Of course, this means that Gov. Bill Lee is planning a big, new investment in a state funding formula that places Tennessee at 46th in the nation in school funding.
Actually, it doesn’t mean that. In fact, Lee recently announced his budget amendment for the 2021–22…
On the heels of the Department of Revenue’s announcement today that the state has once again exceeded monthly revenue projections, the Tennessee Education Association (TEA) released a statement accusing Gov. Bill Lee of stuffing mattresses full of cash rather than spending money on K-12 education.
Here’s the statement from TEA:
“Today’s announcement on state revenues from the Department of Finance and Administration further validates TEA’s criticism of Gov. Bill Lee’s budget amendment released earlier this week.
The state has racked up $1.42 billion in surplus year-to-date. The money is there to make a significant increase to K-12 funding. Gov. …
Arizona Gov. Doug Ducey is part of a national trend of efforts to defund public schools by way of cutting off funding sources.
CBS 5 in Phoenix has more:
Voters passed a tax hike in November to boost funding for K-12 schools. But Gov. Doug Ducey is still trying to sink Proposition 208 because the bulk of the money raised will be paid for by Arizona’s wealthiest.
The governor, who opposed the ballot measure during the campaign, recently outlined his two-pronged strategy to a group of local business leaders. …
The Tennessee Education responded to Gov. Bill Lee’s budget amendment today calling the announcement and Lee’s overall education investment “woefully short” of what the state needs to fund schools.
Lee unveiled the budget amendment with no appreciable increase in K-12 spending, merely a rehash of previous announcements regarding holding districts harmless in the BEP formula and an investment in mental health that had been planned in 2020.
Lee’s statement says:
This amendment reflects the Governor’s priorities and includes record investments in broadband, economic development, safety and law enforcement, increasing reserves, and education.
The amendment itself actually does not include record…
Writer and policy advocate living in Nashville, TN