August 10, 2011, 08:16 pm
By Drew Edwards, CEO and founder of Chexar Networks, Inc.
Banks have always talked about "banking the unbanked,” however, what they meant was "how can (they) educate these consumers so they can become bankable." Banks have never been willing to change their product offerings to meet the real needs of this massive consumer group by adding services such as check cashing, money transfers, walk up bill payments, and now prepaid Visa/MC debit cards.
More and more today banks are focused on redefining their product set to meet the needs of these consumers by offering them the services they are buying today at the corner check casher or market. This shift in mentality has been pushed along by recent legislative changes in Washington (Durbin, etc.) that will significantly reduce the fee income these banks generate from deposit accounts, debit cards, and credit cards.
August 02, 2011, 01:32 pm
By Gigi B. Sohn, president and co-founder of Public Knowledge
On Friday, August 5, Christine Varney will leave her post as assistant attorney general for antitrust just as her staff is in the middle of evaluating one of the most significant transactions this country has seen in decades.
AT&T's proposed $39 billion takeover of national rival T-Mobile would, if approved reshape the telecommunications landscape, handing AT&T and Verizon control over 80 percent of this country's wireless market.
The good news about Varney's departure is that the Antitrust Division's professional staff is well along in its analysis of the deal. The bad news is that her departure presents the opportunity for mischief, which should be denied at all costs.
August 01, 2011, 02:46 pm
By Rep. Mike Honda (D-Calif.)
How many electronic devices do you have in your home? How many televisions, computers, iPods, video games, and telephones do you use on a daily basis? Electronic gadgets already account for about 15 percent of household electric consumption, and as these gadgets proliferate, their energy use continues to grow.
The International Energy Agency (IEA) estimates that by 2030, new electronic gadgets will triple their energy consumption to 1,700 terawatt hours, the equivalent of the home electricity consumption of the US and Japan combined. According to the IEA, the international community will have to build over 15,000 wind turbines (or 200 nuclear power plants) to power all the TVs, iPods, PCs and other home electronics expected to be plugged in by 2030. The electric bill to power all household electronics will top $200 billion a year, compared with last year’s bill of $80 billion. Most of this increase in consumer electronics will occur in developing countries, where economic growth is outpacing developed nations and ownership rates of gadgets are lowest.
Last week, the House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade held a markup on H.R. 2577, the SAFE Data Act.
Unfortunately, the name of the bill is quite deceiving. Passage of the bill will not make consumer data safer. Instead, it preempts important state laws in this area and leaves a weak federal one in their place.
This bill does not even address the recent data breaches at Sony and Epsilon, the very data breaches that prompted the Committee to act in the first place. Both of those breaches involved email addresses; H.R. 2577 does not require companies to secure consumers’ email addresses or to inform them if they’re taken by hackers.
In today’s world, Smartphones with accessibility features make it possible for people who are blind to use mobile apps to identify money and have their e-mails read aloud. And, with augmentative communications technologies, a person who has difficulty speaking can now fully participate in their community. Mobile technologies and services, once only dreamed of in science fiction movies, today are helping transform the way people with disabilities interact within society, improving their lives dramatically.
At the National Council on Independent Living, we are dedicated to creating a society in which people with disabilities can live independently and fully participate and engage in their communities. Today marks the 21st anniversary of the passage of the Americans with Disabilities Act, a day when we can reflect on the progress that has been made and look forward to the promise that tomorrow holds. Communications technology and mobile broadband in particular, has been instrumental in improving the lives of people with disabilities, enabling technologies used in everyday life that much of the population may not even realize exist.
American consumers are under constant assault. As quickly and quietly as a wallet can be stolen by a skilled pickpocket, your personal identity can be hijacked without you knowing it by online hackers and cyber thieves.
Every year, for millions of Americans, identity theft has become the bogeyman in the closet. It’s a crime that lurks in the shadows and strikes without warning, often leaving its victims trapped in a real-life nightmare where they can spend years trying to recover stolen assets, restore their credit and resume a normal life – if they’re lucky.
Mobile broadband usage is projected to grow by 35 times from 2009 to 2014. The explosion of wireless broadband demand created by the growth of smartphones, tablets, and wirelessly connected laptops will fast outstrip the current capacity of the wireless spectrum. The demand placed on the wireless spectrum by a single smartphone is the equivalent of 24 traditional cellular phones; a tablet, 122 cell phones.
For this reason, as a part of the 2009 National Broadband Plan, the Federal Communications Commission is working towards making 500 megahertz of additional spectrum available over the next decade, 300 megahertz of which will be made available by 2014. The government, however, remains embroiled in the process of developing a plan to repurpose spectrum from its current uses for wireless broadband.
Last week, I had the great privilege of attending President Obama's “Twitter Town Hall" on jobs and the economy. While comics and critics like Bill Maher poked fun at the White House for hosting this new media extravaganza, the truth is that the event made headlines because, for the first time in digital history, the audience had the chance to "#TalktoBarack."
Unlike FDR's Fireside Chats, Twitter gave average citizens an opportunity to speak directly to the president. While Obama only responded to a handful of the more than 100,000 tweets, the 90-minute virtual "feedback loop" gave everyone from John Boehner to pot-smokers an opportunity to join the conversation. In fact, according to Mashable, the most frequently tweeted question dealt with marijuana as a source of revenue. Now, one can debate whether that question is relevant during a discussion about jobs, but there is no denying that this "Tweet-ocracy" gave everyone a chance to voice his or her opinion.
Telephone companies have opened their billing and collection systems to third-party companies, and some of those companies have quietly been swindling consumers out of tens of millions of dollars each year. They trick phone providers into adding unauthorized charges on bills for services either not ordered, agreed to, or used. The amounts are often small enough, like $2, that people don’t notice.
But the money adds up big-time. By some estimates, consumers are paying tens of millions a year for unauthorized charges in a practice called “cramming.” Various estimates say between six-and- 20 million Americans may get hit each year. This is why the Senate Commerce Committee on which I serve has conducted a year-long investigation.
For two decades, American consumers, businesses, and even government agencies have been paying for a scam that has cost them billions of dollars.
It’s called “cramming.” It refers to the mysterious charges that appear on Americans’ phone bills for services they do not want or use.
The companies responsible for these cramming charges don’t sell legitimate products. Most of them don’t seem to sell anything at all. Their sole purpose is to place bogus charges on your telephone bill, and hope that you will pay your bill every month without looking at it too closely.