Urge Congress to protect consumers with regulatory reform regarding Consumer Warranties and Vehicle Service Contracts

Consumer warranties and vehicle service contracts need regulatory reform to provide consumers with a formalized set of standards to protect consumers. These companies are often cited by the Federal Trade Commission, Better Business Bureau and Consumer Reports as some of the worst "insurance" products sold to the public. Currently, contracts are written to benefit the warranty company - who can legally provide kickbacks to the seller (e.g. car dealerships) after selling the product to the consumer. The industry is currently an $11 billion industry - the same size as the plastic surgery industry with very little regulatory oversight. Urge Congress to pass regulation to empower the FTC and as recommended by the BBB to protect consumers (including the acceptance/denial % paid out on avg).