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Consumer Federation of America – Controlled by Big Banks?

A somewhat remarkable report has been released by the Consumer Federation of America. I first read about it on Inman News and wondered who they were. Was this just another front group (obviously bought and paid for by big banking) like the American Homeowners Grass Roots Alliance? I also first ran across that group on Inman – Inman will almost always find any letter written by Bruce Hahn, the President of the American Homeowners Grass Roots Alliance, worth publishing. As Hahn is so obviously getting funding from some organization with pretty deep pockets, it was easy to spot him and his organization as a front for someone with an agenda they would prefer be kept hidden. I don’t actually know it is Bank of America but, for sure, it is big banking that keeps Mr. Hahn’s “alliance” afloat.

So I am expecting to find something similar when I read about the report issued a couple of weeks ago by the Consumer Federation of America. Surprise, surprise – they really are a “federation” and they really do have lots of links that have nothing to do with real estate sales being regulated by the federal government. For anyone who would like to wade through the entire report from the CFA here is a PDF of it.

For anyone who would care to read excellent expert analysis of the report and the overall “flow” that is coming from the CFA – there are two articles by Blanche Evans that I think are well worth spending the time they will take to read. I read her most recent one first, it was first published December 12. Then the one she wrote on July 25 of this year.

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I would also like to extend a warm welcome to our newest member, Brian Brady. I was surprised (and pleased) to see you on BloodhoundBlog, as I had just found you (on your blog) a couple of weeks ago and really liked what I saw. Also, I just have to commend our “Top Blogger” on BloodhoundBlog (she is the first one on the list). I vote that if any new writer (with a last name starting with “A”) ever joins – Greg needs to find some other way of arranging the list than the alphabet. Is saying aesthetic and charming public fawning? If so, it is alright, I plead guilty.

Related posts:
  • I Still Want to Know Who Pays You, Bruce
  • What’s in a name? That Which We Call a “Job” Summit, by Any Other Name…
  • Niggling Peeves: The NAR and How NOT to Conduct PR

  • 4 comments

    4 Comments so far

    1. Kris Berg December 28th, 2006 9:41 am

      :) I find public fawning a most admirable trait. (And, thank you).

      Kris A’Berg

    2. Brian Brady December 28th, 2006 10:12 pm

      Thanks for the warm welcome, Russell. I’m a long-time admirer of your work as I lived in Phoenix for 12 years. Joe Arpaio is the only Phoenician who comes close to the recognition Mr Shaw has.

      Brian Ady

    3. Bruce Hahn May 18th, 2007 11:22 am

      Russell-

      Thanks for the link to our website!

      If you would have read some of our recent congressional testimony on subprime lending (which is on our web site and is very critical of the banking sector), you would understand why we are not getting any funding from Bank of America or other banks. And if you had gone back in our history to see some of our past Congressional testimony against the banking sector for its legislative efforts to hamstring Freddie and Fannie, you would have no doubts at all.

      We are opposed to “Rotarian Socialism”, as Gregg Swann so aptly described it in his outstanding February 13 Bloodhound post. In it he wisely noted that NAR’s “on-going legislative campaign against banks competing for real estate transactions is just more of the same: “Protecting” mediocrities from fair competition.” Our aforementioned testimony opposing banking practices in the mortgage lending sector simply reflects our opposition to Rotarian Socialism when it occurs in that sector.

      We’re one of the several hundred proud members of the Consumer Federation of America, and like CFA we are deeply engaged in a wide range of issues with significant impact homeowners that don’t have anything to do with banking. They are on our website as well if you care to check.

      Many issues with significant impact on consumers pit one segment of the business community against another, so there will always be some issues that find consumer groups on the same side as some segment of the business community. If they are faithful to their constituents the consumer group will be on the other side of that segment of the business community on other issues.

      Our opposition (and CFA’s) to such Rotarian Socialism practices in the real estate sector as minimum service laws, anti-rebate legislation, and dual agency laws is therefore much more easily understood when viewed from the perspective of what’s best for consumers, as opposed to what corporations might have been willing to contribute to those causes.

      Bruce Hahn
      President
      American Homeowners Grassroots Alliance

      Serving the interests of the nation’s 75 million homeowners and future homeowners since 1984.

      The American Homeowners Grassroots Alliance is a nonpartisan consumer advocacy organization dedicated to assisting the nation’s 75 million homeowners understand significant policy issues affecting homeowners and homeownership, and empowering homeowners to make their voices heard by state and federal officials.

      Visit our web site http://www.americanhomeowners.org. Contact us at: 6776 Little Falls Road, Arlington, VA 22213-1213. Direct Dial: 571-214-1013; Headquarters: 703-536-7776 Fax: 703-536-7079.

    4. [...] Bruce Hahn writes another letter to Inman News. Of course it gets published, Bruce’s letters always get published on Inman News. I’ve posted about Bruce before, in this post and in this one. It is a big secret who pays Bruce. He likes to advance the idea that it doesn’t matter who pays him, only the viewpoint he is forwarding is what matters. I don’t buy it. Say what you will about NAR (I do:-) but how they get their funding isn’t a secret. What agenda they are pushing, or why, isn’t a secret either. [...]