The other day I summarized a National Consumer Law Center report showing how some banks–particularly US Bank and JP Morgan–are screwing those who receive unemployment funds on debit cards with exorbitant fees. WSJ did a story on the report, too, with this appalling detail. Banks are barreling into the business, led by J.P. Morgan Chase [...]

The National Consumer Law Center just released a report on something that’s been a pet peeve of mine for some years: states’ increasing reliance on pre-paid cards to distribute unemployment compensation, rather than checks. (h/t Susie) As the report explains, issuing funds via a card is much cheaper for the states. But what’s really happening [...]

Just one week ago, Iowa’s Attorney General Tom Miller told Chris Dodd that Assistant Secretary of the Treasury for Financial Institutions Michael Barr was the key person from Treasury working with the Attorneys General investigation into foreclosure fraud. Miller: We haven’t had any contact with the [Financial Stability Oversight Council]. We have had repeated contact [...]

Not long ago, an independent group showed that the access to justice for the average American rivaled that of a banana republic. And no one is making much of an effort to fix that problem. As DDay reported last week, while the Dodd-Frank bill authorized $35 million to support legal services, no one has appropriated [...]

Chris Dodd didn’t have many questions in yesterday’s hearing on the foreclosure crisis. But he did use the opportunity to call on Tim Geithner to convene the Financial Stability Oversight Council to prevent this crisis from blowing up the economy. Dodd: Attorney General Miller, at the outset of my opening comments I talked about the [...]

A lot of hope was placed on the back of Elizabeth Warren and the financial reform act passed by Congress at the behest of the Administration and formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act. Concurrent with belittling the liberal Democratic activist base as ungrateful whiners, the Administration and Democratic leadership has touted Liz Warren and Dodd-Frank as prime examples of accomplishments that should thrill and satisfy the base. But are those “accomplishments” really all that and should they mollify Democrats, at least on financial reform issues? The initial returns indicate no.