Word: brobeck
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...study from the Consumer Federation of America and Catharine P. Montalto, a professor at Ohio State University. The report showed that these women on average have one-half the median income and one-third the net worth of other household heads. As a result, says Stephen Brobeck, director of the Consumer Federation of America, many of them are likely to live on the edge of solvency. Women in these situations need financial guidance so that they don't miss out on the strategies that better-off people use to build long-term assets, like buying a house. Among the places...
...budge? The spread between what banks pay to borrow money and the interest rates they charge on credit cards has grown to nearly 14 percentage points, the widest gap since the deregulation of interest rates in 1982. The chasm has attracted both public scorn and scrutiny. Declares Stephen Brobeck, executive director of the Consumer Federation of America: "Consumers are being gouged by the banks...
...town on a rail." Indeed, the new fees have infuriated politicians and consumer advocates. They maintain that the charges usually hit individuals with $1,000 or less in their accounts, while wealthy depositors pay almost no fees and receive lavish services. Contends Stephen Brobeck, executive director of the Consumer Federation of America: "We are witnessing an increasing denial of banking services to the poor. The trend is toward serving the rich and ignoring the rest...
Both sides agree that what is crimping the consumer movement most is rising worries about broader economic problems. Says President Reagan's consumer adviser Virginia Knauer: "Inflation is the No. 1 consumer concern. It is what the election was all about." Agrees Stephen Brobeck, executive director of the Consumer Federation of America: "We underestimated people's concern with their economic condition. The main issue for most people now is one of economic survival...
...reporters who wanted to hear more, Dr. Brobeck added: "Most scientists don't accept miracles because they are not Christians. But the thoughtful scientist would not say that miracles are impossible, only improbable. Most scientists are not Christians, but not because they're scientists. Most businessmen or most reporters are not Christians either; in fact, most people are not Christians...