Quit selling private info. FTC orders

Article Abstract:

Trans Union Corp has been found by the Federal Trade Commission (FTC) to be guilty of violating the Fair Credit Act and has directed the credit reporting agency to cease selling private financial information of consumers to marketing firms. Trans Union contests the ruling of FTC and argues that its practices are within the law becasue it does not reveal details about people's credit status and payment history.

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Pension bill nears Senate vote; critics say it hurts older workers

Article Abstract:

Retiree advocates and employee groups are advocating against the passage of a Senate bill that is expected to legitimize controversial cash balance pension plans and harm low- and moderate-income workers. The plans have become the focus of lawsuits, shareholder resolutions and around 800 age discrimination complaints filed with the Equal Employment Opportunity Commission. As a vote on the bill heads to the Senate, concerns among the groups are gaining urgency.

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Bank reform bill moves close to vote in Congress

Article Abstract:

Congress is expected to pass financial services modernization legislation that is expected to eliminate the barriers between banks, insurance firms and brokerages. While the barriers among financial services industries have already been reduced, the proposed legislation would improve the ability of financial services firms to integrate. The bill requires banks to report their privacy policies annually and prohibits banks from granting loans on condition that borrowers buy insurance.

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