Will Consumer Rights Take a Hit in 2018?
Consumer rights took several big hits in 2017, and experts say 2018 is likely to be worse. With deregulation being an obvious goal of the current administration, countless consumer protections are at risk.
Some of the most notable blows to consumer rights in 2017 included:
- The Equifax security breach exposed 145 million consumers’ information.
- Wells Fargo admitted to creating millions of unauthorized accounts, and was also accused of charging customers extra mortgage fees.
- Congress repealed a Consumer Financial Protection Bureau rule protecting consumers from forced arbitration agreements.
Watch Out for Preemption
Consumer rights experts are concerned that this trend favoring corporations and endangering consumers will continue in the new year. F. Paul Bland, executive director at Public Justice, says a big concern in 2018 will be preemption—that is, federal laws written to override state laws.
Preemption was a major contributor to the 2008 financial crisis, according to Bland. Federal rules allowed mortgage issues to essentially commit fraud. Regardless of state laws on the matter, they were protected by federal law.
“Consumer rights advocates are rightfully concerned about what will happen to protections this year. The current climate is not favorable for the rights of the average American,” 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 at (760) 777-7777 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.