http://www.californiacreditlaw.com/ Published by Anderson, Ogilvie & Brewer LLP en-us 2010-08-17T16:12:49-08:00 http://www.californiacreditlaw.com/2010/08/class_action_alleges_the_aspir_1.html Today, the 9th Circuit Court of Appeal issued a ruling in a case in which the plaintiffs are accusing Aspire VISA, a subprime credit card, its marketing is a violation of the Credit Repair Organization Act. That Act prohibits companies... Credit Card Scams californiacreditlaw-1 2010-08-17T16:12:49-08:00 http://www.californiacreditlaw.com/2010/08/25_of_americans_have_credit_sc.html Yesterday, the Wall Street Journal reported that 25% of Americans now have credit scores less than 600. This compares to 15% before the rescission. This means one in four consumers cannot get a mortgage loans unless they qualify for some... Credit Scores californiacreditlaw-1 2010-08-17T09:41:54-08:00 http://www.californiacreditlaw.com/2010/08/case_before_us_supreme_court_m.html In November of this year, the US Supreme Court hear arguments in AT&T Mobility v. Concepcion, a case that could decide the fate of consumer and employee class actions for years to come. The case involves the widespread practice of... Consumer Credit 101 californiacreditlaw-1 2010-08-09T21:30:25-08:00 http://www.californiacreditlaw.com/2010/08/ftc_rules_will_put_debt_settle.html By October 2010, new FTC rules will prohibit debt settlement companies from collecting fees on the promise they will reduce or settle a consumer debts. The rules are necessary because the debt settlement companies falsely advertise they can drastically reduce... Consumer Debt californiacreditlaw-1 2010-08-02T20:39:05-08:00 http://www.californiacreditlaw.com/2010/07/joe_noceras_terrific_report_on.html NY Time' columinist Joe Nocera's report on the tyranny of credit scores is right on the money. He points out that Fannie, Freddie and the banks that write mortgages depending on one thing--the applicant's credit score. Nocera gives examples of... Credit Scores californiacreditlaw-1 2010-07-24T19:14:16-08:00 http://www.californiacreditlaw.com/2010/07/interesting_interview_with_pro.html Prof Elizabeth Warren is a leading candidate to head the new Consumer Financial Protection Agency that Pres Obama signed into law today. She explains how she envisions the new agency will fulfill its duties in an interesting interview on the... Legislation californiacreditlaw-1 2010-07-21T12:12:36-08:00 http://www.californiacreditlaw.com/2010/07/reform_bill_requires_credit_sc.html Today, the Senate voted to move forward with the Dodd-Frank Wall Street Reform and Consumer Protection Act, 60-38. The bill is now on the way to the President to be signed into law. Today's vote is a victory for consumers.... Legislation californiacreditlaw-1 2010-07-15T12:44:58-08:00 http://www.californiacreditlaw.com/2010/07/reform_bill_addresses_problem_1.html An offical of the US Treasury Department has issued a statement pointing to the sections dealing with the problem of inaccurate credit reports and consumers' inability to easily get the inaccuracies removed. The official notes that credit reports are sometimes... Credit Reports californiacreditlaw-1 2010-07-07T10:12:09-08:00 http://www.californiacreditlaw.com/2010/06/debt_settlement_industry_rips.html Some 250 "debt settlement companies" pray on consumers who are overwhelmed by debts. Consumers are lured by Internet and TV ads promising consumers their debt problems will cease if they just sign up. Typically, the companies require the consumer to... Debt Collection californiacreditlaw-1 2010-06-19T12:17:55-08:00 http://www.californiacreditlaw.com/2010/06/prof_elizabeth_warren_has_been.html Prof Elizabeth Warren has been the leading advocate for creation of a Consumer Financial Protection Agency. The proposed new agency is part of the financial reform bill currently being debated in a Senate House conference committee. Writing on Politico.com, she... Legislation californiacreditlaw-1 2010-06-18T11:56:40-08:00