News

2008

December

09

• Mortgage modifications show limited success. A new government report released yesterday underscored the limited success of industry efforts to reduce foreclosures by modifying mortgage loans, offering fuel for both sides in the debate over whether modification efforts should be redoubled

07

• Burglaries may increase during downturn. They're holiday rituals of the Grinchy sort, annual warnings from local police telling us how to protect ourselves from burglary and theft during the dark, wintry days of the holiday season. Basically, their advice is

04

• Treasury weighs action on mortgage rates. The Treasury Department is strongly considering a plan to intervene directly in the mortgage industry to dramatically force down rates and stimulate the moribund housing market, according to sources familiar with the proposal. Under the

November

30

• US not getting health care we 'pay for'. Talk to the chief executives of America's preeminent health-care institutions, and you might be surprised by what you hear: When it comes to medical care, the United States isn't getting its money's worth. Not even

25

• The car of the future -- but at what cost?. Many members of Congress believe they know what the car company of the future should look like. "A business model based on gas -- a gas-guzzling past -- is unacceptable," Sen. Charles E. Schumer (D-N

24

• More firms offering health services for workers at office. Even as employers push a greater share of rising medical costs on to workers, a growing number of companies also are providing services like free check-ups, screening exams and prescription drugs that potentially can save

23

• How new bank deposit coverage may affect you. If the beaten-down stock market has got you seeking a haven for your cash, there's some good news. The financial system bailout legislation enacted last month boosted limits on federal insurance for bank deposits, increasing

• Banking regulator played advocate over enforcer. When Countrywide Financial felt pressured by federal agencies charged with overseeing it, executives at the giant mortgage lender simply switched regulators in the spring of 2007. The benefits were clear: Countrywide's new regulator, the Office of

21

• Buscan ahorro en el seguro del auto. El 27 por ciento de los hispanos en EU planea reducir el gasto de sus seguros de automóvil el próximo año, tres veces más que la cifra nacional como resultado de la

20

• Health insurance deductibles march higher. Employers are dramatically shifting healthcare costs onto workers, so much so that the average annual deductible for an individual surpassed $1,000 for the first time this year, according to a new study. Millions of workers --

• Treasury's Bailouts Are Getting Us Chumped. I usually don't enjoy watching congressional hearings. They are often packed with blustering, long-winded, self-serving speeches that are nap-inducing. But a recent hearing before the domestic policy subcommittee of the House Oversight and Government Reform

16

• What happens if your insurer goes under?. Ever since the problems at the American International Group burst into the consciousness of everyday consumers two months ago, a sort of low-grade fear has set in among policyholders at insurance companies of all kinds.

• Keeping your cash safe. Many depositors feel safer now that the Federal Deposit Insurance Corp. has, at least through 2009, raised insurance limits from $100,000 to $250,000 per individual account. Joint accounts are covered at $250,000 per co-owner; retirement accounts, up to $250,000; and

• Know before you borrow mortgage money. Exotic mortgages, as well as some lenders, are a thing of the past. But the need to borrow to buy a home is very much present. The lending landscape keeps changing fast, economists, mortgage brokers

12

• Insurance Issue [Fall 2008]. In the Fall 2008 issue, Consumer Action focuses on insurance. The results of an online poll reveal details about consumers and insurance coverage, including the downsides to filing a claim. Other topics include credit car rental car coverage, how to add "riders" to policies, the privacy implications of "pay-as-you-drive" insurance, increased FDIC deposit insurance, rental insurance and news of a new insurance web site created by Consumer Action. For much more, see the Table of Contents below.

• New plan for at-risk mortgages. Who is participating: Fannie Mae, Freddie Mac and many major lenders and mortgage servicers, effective Dec. 15. The servicer is the company to which you send your payments. Who is eligible: If the property is a

10

• Government to grant AIG larger bailout. The federal government today announced an expanded effort to bail out American International Group, including a partial government takeover of the company, as the troubled insurance giant disclosed massive losses over the past three months.

05

• New website provides consumer education on insurance (Consumer Action debuts Insurance-Education.org 'sub site'). Consumer Action’s new Insurance Education website (www.insurance-education.org) is a free online clearinghouse for educational materials about the multitude of consumer insurance products and the need for adequate insurance coverage. Consumer Action believes

04

• La guía para manejarte en la crisis. Cuando preguntamos a los norteamericanos sobre su mayor preocupación actual, nos respondieron fuerte y claro: tener suficiente dinero para jubilarse, el valor de sus ahorros y su hogar, y el precio de todo desde

03

• Consumer Action insurance poll highlights downsides to filing a claim (Widespread misunderstanding of rental car insurance also found). More than two-thirds of respondents had their homeowner’s insurance premiums increased after they filed a claim, according to an online insurance poll released today. One in five respondents said that the insurance company did