Table of Contents

Congress should reign in reckless financial markets gambling
Consumer Action sent a letter to Senator Harkin and Representative DeFazio expressing support for their bills that would attempt to curb financial markets speculation.

SEC should investigate, have power to prohibit investment arbitration clauses
In a letter to Representatives Barney Frank and Spencer Bachus, of the House Financial Services Committee, Consumer Action joined its Fair Arbitration Now coalition members in supporting a provision of H.R. 3817 that would require the Security and Exchange Commission (SEC) to do a study on the use of arbitration clauses in broker-dealer and investment advisory accounts. The letter also opposes two amendments to the bill that would undermine the SEC's authority in prohibiting such clauses.

Shareholders target predatory credit card practices
Consumer Action and the Center for Responsible Lending joined socially responsible MMA Praxis Mutual Funds and the Interfaith Center on Corporate Responsibility to discuss anti-consumer credit card practices that could have a negative impact on shareholders of major card issuers, and the larger economy.

Take a ride on the ‘Road to Economic Recovery’
The National Community Reinvestment Coalition (Consumer Action is a member) and USAction are planning a massive week of action around the economic crisis.

Financial Education in the African American Community
Consumer Action attended the first Financial Literacy Roundtable focused on financial education in the black community. The roundtable was hosted by the Department of Treasury in March 2008.