State lawmakers considering several consumer bills
There are several bills moving through Olympia that directly effect consumers in Washington state, starting with the bill that encouraged insurance companies to offer mileage-based policies so people who don't drive much could get a break. It looks like the mileage based insurance bill just got hijacked.
Under current law, insurance companies can offer usage-based policies as long as they publicly disclose all the factors used in determining your premiums so you'll know why you're paying the rate you pay. The original mileage based insurance bill proposed in Olympia last month allowed state regulators to established rules and standards for setting those mileage based premiums.
But the original bill, SB5730, just got kicked to the curb and rewritten. Under the new bill, companies can offer usage-based policies by monitoring (including electronically) how and when you drive with no requirement to disclose the factors in determining your premium.
The insurance commissioner is concerned about secrecy. Privacy advocates don't like the electronic monitoring and potential tracking of where you go. Even some insurance companies are opposed to the newly written bill. Proponents say exempting insurers from disclosing what goes into setting usage-based rates, will protect proprietary technology used to monitor driver habits.
Wireless gift cards not really gift cards?
Another bill flying under the radar could be bad news for people who use pre-paid minutes for their cell phones. Right now, you can buy those pre-paid minutes with gift cards. But under the pre-paid wireless bill, HB1867, cell phone cards would no longer qualify as gift cards. Which means users could potentially be charged fees or lose minutes for inactivity. And in some cases, stored minutes could expire.
The first public hearing on the pre-paid wireless cards was this afternoon in Olympia, but most people don't even know the bill exists. If you know anyone who uses pre-paid wireless services, consider this a heads-up.
Mandatory foreclosure mediation
You should also know about the foreclosure mediation bill, SB5275. This bill gives thousands more homeowners in Washington additional time to avoid foreclosure, and puts tighter reins on lenders so they can't rush to sell your home. Right now, lenders are under no mandatory obligation to mediate, and the requirement to "meet and confirm" with homeowners, only applies to borrowers who took out sub-prime loans between 2003 and 2007.
SB5275 applies to all mortgage holders and requires lenders to give 30 days notice before issuing a notice of default. The homeowner then has the right to respond to either the lender, a housing counselor or an attorney, and has an additional 60 days to get a referral for mandatory mediation. Mediation could result in a variety of options, including cash for keys or deed in lieu.
You can track state bills by entering the bill number. The website also allows you to sign up for e-mail alerts you can more easily follow the bills you're interested in, contact legislators, and find out in advance about public hearings where your voice can be heard.
Under current law, insurance companies can offer usage-based policies as long as they publicly disclose all the factors used in determining your premiums so you'll know why you're paying the rate you pay. The original mileage based insurance bill proposed in Olympia last month allowed state regulators to established rules and standards for setting those mileage based premiums.
But the original bill, SB5730, just got kicked to the curb and rewritten. Under the new bill, companies can offer usage-based policies by monitoring (including electronically) how and when you drive with no requirement to disclose the factors in determining your premium.
The insurance commissioner is concerned about secrecy. Privacy advocates don't like the electronic monitoring and potential tracking of where you go. Even some insurance companies are opposed to the newly written bill. Proponents say exempting insurers from disclosing what goes into setting usage-based rates, will protect proprietary technology used to monitor driver habits.
Wireless gift cards not really gift cards?
Another bill flying under the radar could be bad news for people who use pre-paid minutes for their cell phones. Right now, you can buy those pre-paid minutes with gift cards. But under the pre-paid wireless bill, HB1867, cell phone cards would no longer qualify as gift cards. Which means users could potentially be charged fees or lose minutes for inactivity. And in some cases, stored minutes could expire.
The first public hearing on the pre-paid wireless cards was this afternoon in Olympia, but most people don't even know the bill exists. If you know anyone who uses pre-paid wireless services, consider this a heads-up.
Mandatory foreclosure mediation
You should also know about the foreclosure mediation bill, SB5275. This bill gives thousands more homeowners in Washington additional time to avoid foreclosure, and puts tighter reins on lenders so they can't rush to sell your home. Right now, lenders are under no mandatory obligation to mediate, and the requirement to "meet and confirm" with homeowners, only applies to borrowers who took out sub-prime loans between 2003 and 2007.
SB5275 applies to all mortgage holders and requires lenders to give 30 days notice before issuing a notice of default. The homeowner then has the right to respond to either the lender, a housing counselor or an attorney, and has an additional 60 days to get a referral for mandatory mediation. Mediation could result in a variety of options, including cash for keys or deed in lieu.
You can track state bills by entering the bill number. The website also allows you to sign up for e-mail alerts you can more easily follow the bills you're interested in, contact legislators, and find out in advance about public hearings where your voice can be heard.
Learn about changes coming to commenting