In the annual State of the Union Address, President Obama proposed measures to bring relief to almost 8 million students who will see their student loan interest rates double on new loans starting July 1st, 2012.
2012 has already brought a tremendous victory for students and families.
Today the President appointed Richard Cordray as the director of the new Consumer Financial Protection Bureau (CFPB). The CFPB will rein in the bad business practices of banks, lenders, and credit card companies.
Today Facebook settled a privacy complaint with the Federal Trade Commission. The FTC says Facebook "deceived consumers by telling them they could keep their information on Facebook private, and then repeatedly allowing it to be shared and made public." Read the FTC's full statement here.
We've joined two other leading consumer groups-- the Consumer Federation of America and Consumers Union (the advocacy arm of Consumer Reports magazine) -- in a letter to Congress in opposition to the so-called Stop Online Privacy Act, HR 3261 (SOPA).