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Ed Mierzwinski
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Entries by Ed Mierzwinski

Banks and Stores, Not CFPB, Spy on Consumers

(11) Comments | Posted July 15, 2013 | 11:22 AM

Tomorrow, Tuesday, July 16th, expect a Senate showdown vote< on the confirmation of Richard Cordray to a full term as director of the Consumer Financial Protection Bureau (read a letter of support from over 150 members of Americans for Financial Reform, including U.S. PIRG and...

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In the Public Interest: Senator McConnell Says We Shouldn't Have a CFPB At All

(27) Comments | Posted April 22, 2013 | 2:58 PM

Senator Mitch McConnell (KY) told Wall Street and other bankers last week that "If I had my way, we wouldn't have the [CFPB] at all."

McConnell has been leading a group of 43 senators -- under Senate rules, a minority of 41 or more senators can block action...

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50 Years Ago This Week, JFK Ushered in Modern Consumer Protection Era

(0) Comments | Posted March 13, 2012 | 10:07 AM

People of almost any age know a lot about the Kennedy administration with its optimistic beginnings and its sudden, tragic end. Yet many have probably never heard of one of JFK's important legacies -- his declaration that consumers have rights that deserve protection.

Fifty years ago, on March 15, 1962,...

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President's Recess Appointment of Cordray Gives Watchdog Teeth It Needs

(12) Comments | Posted January 8, 2012 | 4:15 PM

Kudos to President Obama for standing up for consumers this week by making a recess appointment of former Ohio Attorney General Richard Cordray to head the new Consumer Financial Protection Bureau. The President's action clarifies that the CFPB now has all its powers to protect the...

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REINS Act Means More Trouble In Toyland

(2) Comments | Posted November 17, 2011 | 1:18 PM

Holiday shopping season is upon us once again. As a parent, relative or friend, shopping for toys for the children in your life can be a challenge.

We don't always know if the gifts will be a hit but the one thing we count on is that the toys...

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In The Public Interest: Consumers, Know Before You Owe: Help CFPB Develop New Mortgage Forms

(2) Comments | Posted May 19, 2011 | 6:32 PM

Calling all consumers! The Consumer Financial Protection Bureau (CFPB) wants to hear from you. The CFPB has rolled out two alternative, two-page mortgage disclosure forms to replace longer, unclear documents in current use. The forms are preliminary, and the CFPB wants your help to make them better.

...
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In The Public Interest: Congress Still Demonizing Elizabeth Warren, Meanwhile, Chase Rolls Out the $5 ATM Fee

(2) Comments | Posted April 5, 2011 | 10:35 AM

This was written on April Fool's Day, but sadly all of it is true.

Incredibly, last week, in a letter to Professor Elizabeth Warren, House Financial Services Committee chairman Spencer Bachus (R-AL), along with key subcommittee chair Shelley Moore Capito (R-WV), all but accused Professor Elizabeth Warren...

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In The Public Interest: Checking the "Fact Check" From CFPB Opponents

(2) Comments | Posted March 24, 2011 | 11:37 AM

Professor Elizabeth Warren, the architect of the Consumer Financial Protection Bureau (CFPB), was in the press often this week letting the public know about the progress of "standing up" the new consumer protection agency. Her opponents took notice, and posted a "Fact Check" purporting to find...

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In The Public Interest: Checking the "Fact Check" From CFPB Opponents

(0) Comments | Posted March 24, 2011 | 11:26 AM

Professor Elizabeth Warren, the architect of the Consumer Financial Protection Bureau (CFPB), was in the press often this week letting the public know about the progress of "standing up" the new consumer protection agency. Her opponents took notice, and posted a "Fact Check" purporting to find...

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In The Public Interest: House Kneecaps Wall Street Reform Funding, But Goal Is Worse: Repeal

(8) Comments | Posted March 1, 2011 | 10:16 AM

In case you hadn't noticed, the U.S. economy is still recovering from a major financial crisis caused by reckless Wall Street practices. As part of its response, Congress in 2010 beefed up two investor cops to clean up crime in the suites and created a new cop to protect consumers....

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In The Public Interest: Next Up For the Supreme Court That Brought You Unlimited Corporate Campaign Cash: Do Consumers Have the Right to Band Together To Fight Corporate Crime?

(2) Comments | Posted November 4, 2010 | 1:06 PM

On November 9th, the Supreme Court will hear oral argument in a very important case that if wrongly decided will allow powerful special interests to use small print in standard ("take-it-or-leave-it") contracts to ban consumers from banding together against unfair corporate practices. This limit on class actions - which also...

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In The Public Interest : The More You Know, The More You Know We Need A Strong CFPB

(5) Comments | Posted October 14, 2010 | 10:48 AM

This month's story, dear reader, is about sloppy bank servicing of mortgages, starting with the infamous robo-signers and now escalating to every element of the mortgage servicing and foreclosure process. Yesterday, the New York Times wrote that JP Morgan Chase hired clueless "Burger King kids" who apparently had...

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In The Public Interest: My Top Ten List of Things to Watch For at Today's Wall Street Reform Conference

(4) Comments | Posted June 22, 2010 | 3:07 PM

The good news, of course, is that both the House and Senate passed Wall Street reform bills including a strong, new, independent consumer agency. The banks and the U.S. Chamber of Commerce tried hard to kill it; they lost.

The bad news is that now they are trying to...

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In The Public Interest: Wall Street reform ain't over 'til it's over

(0) Comments | Posted May 17, 2010 | 1:23 PM

The baseball philosopher Yogi Berra said "it ain't over 'til it's over."

Anyone watching the Senate battle over Wall Street reform knows that. And despite falling behind to Main Street in the early innings, the banks continue to flood Congress with cash and still have...

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In The Public Interest: A Senator Stands Up To A Deceptive TV Ad

(0) Comments | Posted February 12, 2010 | 9:29 AM

Kudos to U.S. Senator Jon Tester (D-MT) for criticizing TV ads running in Montana and around the country which claim that Congressional efforts to rein in the reckless Wall Street bankers will amount to another "bailout."

"That ad is confusing a lot of folks, because it's not...

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In The Public Interest: It's Time for Main Street to Score a Win - Will Congress Do the Right Thing?

(5) Comments | Posted January 4, 2010 | 2:39 PM

There they go again.

The Wall Street bankers are paying themselves hundreds of billions of dollars in bonuses just a year or so after taxpayers bailed them out. The big bonuses have a kicker, too; since the bonuses are a business expense, $200 billion in bonuses means...

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In The Public Interest: Are Consumers Too Small To Save?

(1) Comments | Posted December 10, 2009 | 11:15 AM

Will Congress Replace the CFPA With a Coalition of Unwilling Regulators?

Washington often seems like Superman's Bizarro World where "Us is opposite." If you don't believe me, start following House attempts to pass the Wall Street Reform and Consumer Protection Act. It's on the House...

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In the Public Interest: Rein in the Financial System That Failed

(7) Comments | Posted December 7, 2009 | 9:58 AM

Four Tests for the House This Week

More than 14 months after taxpayers were forced to bail out Wall Street bankers, Congress is finally considering reforms to protect the rest of us.

On Wednesday and Thursday, the House considers the Wall Street Reform and Consumer Protection Act of 2009....

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