Coalition Efforts
Consumer Action is working on these important issues along with other organizations. If you would like to know more about these issues, please see the "For More Information" within each effort.
Postings
Survey reveals California homeowners not being helped as promised
The California Reinvestment Coalition, of which Consumer Action is a member, has released a report on its survey of California mortgage counseling agencies, which found that despite lenders' promises to help borrowers, foreclosure is still the most common outcome for homeowners struggling to make mortgage payments.
Video explains significance of the Community Reinvestment Act
National Community Reinvestment Coalition (NCRC), of which Consumer Action is a member, has produced a video highlighting the benefits of the Community Reinvestment Act (CRA) and explaining how it can be an antidote to the current financial crisis.
Key deficiencies in RESPA weaken consumer protections
In a letter to the U.S. Department of Housing and Urban Development (HUD) and the Office of Management and Budget (OMB), Consumer Action and its coalition partners point out key deficiencies in the proposed Real Estate Settlement Procedures Act (RESPA) rule.
Attacks on Community Reinvestment Act are misguided
Consumer Action joined in a letter defending the Community Reinvestment Act (CRA) from attacks that claim it is a part of the reason for the country's financial crisis.
Support court-supervised loan modifications in bailout
Consumer Action joined in a letter urging Congress to include provisions in financial rescue legislation that allows homeowners to restructure and modify their mortgage loans through Chapter 13 bankruptcy courts.
Protect credit cardholders in bailout legislation
Consumer Action joined in a letter asking the Senate to make sure credit card consumers aren't gouged by the same banks being financially rescued by the federal government.
Main Street principles should guide Wall Street rescue
In a letter to key lawmakers in both the U.S. House of Representatives and the Senate, Consumer Action and its coalition members urged Congress to consider the public interest above private interests in the government's planned financial bailout.
Congress shouldn’t forget the Credit Cardholders’ Bill of Rights
Consumer Action joined in a letter to Barney Frank, Chairman of the Financial Services Committee in the United States House of Representatives, in support of H.R. 5244, the Credit Cardholders' Bill of Rights Act. (Note: This bill passed the House of Representatives in Sept. 08)
Fannie Mae and Freddie Mac should remain focused on their missions
In a letter to the Director of the Federal Housing Finance Agency (FHFA), Consumer Action and its coalition members outlined ways to continue and improve the role of Government Sponsored Enterprises (GSEs) in affordable housing.
DOJ’s opposition to Nursing Home Arbitration Act unfounded
In a letter to Senator Patrick Leahy, Chairman of the Senate Judiciary Committee, Consumer Action and its coalition partners point out flaws in the Department of Justice's objections to S.2838, the Fairness in Nursing Home Arbitration Act of 2008.