Congress Prevents Consumers from Suing Companies Like Equifax

The Senate voted Tuesday night to eradicate a contentious rule that would have allowed Americans to file class-action suits against banks instead of being coerced in many cases into private arbitration.

No Democrats or independents favored the move. All but two Republicans — John Kennedy of Louisiana and Lindsey Graham of South Carolina — voted to revoke the rule.

George Slover, senior policy counsel for Consumers Union, declared the vote “means that big financial companies can lock the courthouse doors and prevent consumers who’ve been mistreated from joining together to seek the relief they deserve under the law.”

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(URL: https://www.nytimes.com/2017/10/24/business/senate-vote-wall-street-regulation.html )

Are You One of the 143 Million People Affected by Equifax’s Security Breach?

As you have probably heard by now, Equifax, a consumer credit reporting agency , has been hacked. Reportedly, the hackers have accessed personal information, including social security numbers, driver’s license numbers, and credit card numbers for 143 million U.S. customers. That is nearly two-thirds of the adult U.S. population! Identity theft has a crippling effect on individuals and can take years to recover from. An identity theft operation affecting this many people would be unprecedented and could potentially cause major disruptions that would take years to untangle. To find out if you are one of the people whose data was breached, Read More…