It hurts children and single mothers by failing to protect child support or alimony payments. Those with the means to abuse the system get a green light, while honest families who face financial crisis because of job loss, medical expenses or other unforeseen circumstance are shut out. Attempts to bring some honesty to credit card statements failed. Attempts to protect kids from credit industry solicitations failed. Congress also closed its eyes as higher fees penalize prudent consumers who pay off their bills.
Voluntary standards are insufficient.
There are no requirements that a bank account that has been wiped out be restored expeditiously. Congress failed to enact desperately needed protections to curb misleading and deceptive practices by banks, even in the wake of mega-financial institution mergers that have made such protections even more vital. Banks that fail to tell consumers that the products they purchase are not-FDIC insured or subject to loss of principal can still escape sanctions. Consumers still have no means of holding plans accountable for the delivery of sub-standard medical care that results in injury or death. Moreover, consumers have no guarantees they can access an independent grievance and appeals system when a health plan denies, terminates, reduces or delays care.