September 2021 • Issue 3, Volume 12 • www.consumer-action.org Click here to view this email in a web browser What people are saying Consumer Action provides useful and timely consumer information o
Consumer Action provides useful and timely consumer information on a range of pocketbook issues. And they do it in creative ways--newsletters, blogs, social media posts--and in many languages. --Cleo Stamatos, Consumer Mom, Baltimore, MD, via Consumer Action feedback survey
Appraisal bias is on the rise, including reports of Black-owned homes receiving lower-than-market-rate appraisals when family photos, African American books or Afrocentric artwork are on display when appraisers visit. If an appraisal comes in lower than expected during a home sale, lenders might decrease the amount the purchaser can borrow, leading to a higher out-of-pocket downpayment, or even an end to the deal. The HUD Office of Fair Housing and Equal Opportunity has received a tenfold increase in appraisal-related discrimination reports since 2019, said Alanna McCargo, HUD's senior advisor for housing finance, at a June roundtable on appraisal bias hosted by the Consumer Financial Protection Bureau. Homeowners and homebuyers who suspect they've been discriminated against in the appraisal process can fight back. Learn more at NerdWallet.
A few nonprofits that could benefit from an assessment of their clients' financial health have the opportunity to try out a financial health measurement software tool for free, in exchange for their user feedback. Read more.
Consumer Action's board has two new officers and three new members--invaluable additions who will contribute to furthering our mission, meeting organizational goals and achieving a sustainable future. Read more.
One-sided news outlets that present inaccurate and biased information can be maddening. One woman asked us how she could complain about a popular conservative TV news station she views as a danger to society. Read more.
High-speed internet service is essential for conducting the necessary tasks of daily life, including learning and doing homework and accessing remote health services. Consumer Action recently hosted a webinar about a new program that attempts to close the digital divide by offering a discount on home broadband for qualifying households. Read more.
Congress designed the Public Service Loan Forgiveness (PSLF) program to reduce the student debt burden for borrowers with a decade in public service, but, with a rejection rate of 98%, the program has been a clear failure. The Education Department says it's working on strengthening the program and wants borrower feedback. Hear what some eligible borrowers told Consumer Action about their PSLF experiences. Read more.
Consumer Action often joins its allies in letters, comments and complaints calling for change, standing up for consumer rights, supporting or opposing proposed laws and objecting to corporate misbehavior, among other activities. We collect these in the Coalition Efforts section of our website. Each month in the INSIDER, we highlight some recent activities. Read more.
In this regular feature, we detail recent actions taken by the Consumer Financial Protection Bureau (CFPB). This month, the Bureau highlights the risk of eviction for older renters, reports on credit bureau lapses in accuracy and responsiveness, and celebrates its 10th anniversary. Read more.
Consumer Action maintains a database of class actions so that interested consumers can learn more, join a pending action or make a claim. Class action lawsuits are an important element of consumer protection and can force changes to anti-consumer business practices and make bad actors return ill-gotten gains to consumers. Read more.
Consumer Action has been a champion of underrepresented consumers nationwide since 1971. A nonprofit 501(c)(3) organization, Consumer Action focuses on consumer education that empowers low- and moderate-income and limited-English-speaking consumers to financially prosper. It also advocates for consumers in the media and before lawmakers to advance consumer rights and promote industry-wide change.
By providing consumer education materials in multiple languages, a free national hotline, a comprehensive website and special reports about financial and consumer services, Consumer Action helps consumers assert their rights in the marketplace and make financially savvy choices. More than 6,000 community and grassroots organizations benefit annually from its extensive outreach programs, training materials and support. Read more.
