Is there a War on Consumer Protection?

While much of the public is focusing on the latest political Twitter storm, Congress is discretely waging a war on consumer protection. Instead of fighting to protect consumers, Congress is siding with large corporations who prioritize profits, often at the expense of everyday Americans.

Removing Protections Against Illegal Pyramid Schemes

The House Appropriations Committee recently passed a bill that effectively prevents the Federal Trade Commission (FTC) from policing illegal pyramid schemes. Sadly, these schemes, disguised as multi-level marketing (MLM) opportunities, frequently target low-income and minority individuals. Thousands of people lose money to these scams, after buying into false promises of high salaries, early retirement and the like. Without the FTC to investigate and shut down these scams, it stands to reason that more Americans will lose money to fraudulent MLM schemes.

Allowing Corporations to Force Arbitration Agreements

The House is also working to repeal a Consumer Financial Protection Bureau (CFPB) rule that curbs forced arbitration agreements for consumers. Instead of backing the CFPB, lawmakers are siding with financial institutions that put profit over the rights of consumers. Taking away an individual’s right to take their concerns to court is a dangerous blow to consumer rights.

Is This What Consumers Want?

One survey shows that two-thirds of voters support the CFPB’s rule against forced arbitration. Another survey, taken when the CFPB was instituted in 2011, showed that 63% of Americans favored more government oversight of financial companies. It seems clear that Congress is choosing to support the whims of greedy corporations, despite the backlash on consumer rights.

“These attacks on basic financial protections are an affront to consumer rights,” said Attorney Walter Clark, founder of Walter Clark Legal Group.

Our firm has been handling personal injury cases throughout the California Low Desert and High Desert communities for over 30 years. With a 95% success rate, the California personal injury attorneys at Walter Clark Legal Group will fight to hold those responsible for your loss accountable and win compensation to cover medical bills, lost wages, and pain and suffering. If you have been injured and want to discuss your legal options, contact us today for a free consultation with an experienced personal injury lawyer. We have offices in Indio, Rancho Mirage, Victorville, and Yucca Valley and represent clients through the entire California Low Desert and High Desert communities.

DISCLAIMER: The Walter Clark Legal Group blog is intended for general information purposes only and is not intended as legal or medical advice. References to laws are based on general legal practices and vary by location. Information reported comes from secondary news sources. We do handle these types of cases, but whether or not the individuals and/or loved ones involved in these accidents choose to be represented by a law firm is a personal choice we respect. Should you find any of the information incorrect, we welcome you to contact us with corrections.

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