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News Release | U.S. PIRG | Democracy

Shareholders Offer Nearly 100 Political Spending Disclosure Resolutions

At companies ranging from Chevron to Pfizer, shareholders are urging corporations to disclose their lobbying and contributions to political groups.

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News Release | U.S. PIRG | Democracy

In First Congressional Primaries, Big Money Wins 88% of Races

On Super Tuesday, Alabama, Arkansas, and Texas competed in the first congressional primary races of 2016. Better-funded candidates won 87.5% of their congressional races.

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Blog Post | Financial Reform

We oppose latest effort to weaken CFPB, other bank regulators | Ed Mierzwinski

Today, the House Financial Services Committee holds its latest cattle-call markup of a package of industry-backed bills designed to weaken consumer, taxpayer, depositor and investor protections. We've signed a letter opposing the so-called TAILOR (Taking Account of Institutions with Low Operation Risk) Act, which piles redundant requirements onto the Consumer Financial Protection Bureau and other regulators to do what they already do by existing law--treat small banks and credit unions differently than mega-banks. Also, the PIRG-backed Americans for Financial Reform sent up a letter opposing the TAILOR Act and 6 more of the 10 bills on the agenda because they are designed to weaken consumer, taxpayer, depositor and investor protections.

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Blog Post | Consumer Protection

20 groups call on FTC to protect consumers and prohibit the sale of certified used cars with unrepaired safety recalls | Deirdre Cummings

U.S. PIRG joined more than 20 consumer organizations in calling on the Federal Trade Commission (FTC) to prohibit the practice of selling “certified” used cars with unrepaired safety recalls. The formal comments were in response to the FTC's proposed settlements with General Motors, Jim Koons Management, and Lithia Motors. 

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Blog Post | Public Health

Progress in the chicken industry | Bill Wenzel

One thing is for sure: when it comes to chicken, the industry changing, and consumers can take a lot of credit.

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News Release | U.S. PIRG | Tax

Bank of America settlement loophole creates at least $4 billion burden for taxpayers

 The Justice Department allows Bank of America to write off most of its legal settlement for mortgage abuses as a tax deduction, shifting at least $4 billion back onto taxpayers.

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Media Hit | Tax

Bank of America’s $16 Billion Mortgage Settlement Less Painful Than It Looks

“The American public is expecting the Justice Department to hold the banks accountable for its misdeeds in the mortgage meltdown,” said Phineas Baxandall, an analyst with the U.S. Public Interest Research Group, a consumer advocacy organization. “But these tax write-offs shift the burden back onto taxpayers and send the wrong message by treating parts of the settlement as an ordinary business expense.”

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News Release | U.S. PIRG | Tax

Taxpayers could be burdened with Bank of America’s upcoming Justice Department settlement

To understand how significant the BoA settlement really is, people need to ask how many billions the bank is allowed to write off as tax deductions, and how much of the announced figure includes ‘fake costs’ — costs the bank would have incurred anyway to protect its bottom line.

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Media Hit | Tax

Charlotte Observer top article features settlement loophole

Feature article quotes U.S. PIRG to discuss how banking giant may leave taxpayers with part of the bill for their mortgage abuses.

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News Release | U.S. PIRG | Consumer Protection

U.S. PIRG’s Christine Lindstrom Testifies before U.S. Senate Banking Committee on Campus Debit Cards

U.S. PIRG Higher Education Program Director Chris Lindstrom testified before the Senate Banking Committee today on campus banking issues, private student loans and other issues concerning financial products on campus.

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Blog Post | Higher Ed

Students to Congress: Don’t Double Our Rates | Chris Lindstrom

Earlier this week, the Education and Workforce Committee in the U.S. House held a hearing to purportedly “strengthen” the federal student loan program. Sadly, the proposals put forth by leaders in the hearing do anything but help solve the problem of high cost federal student loans. What the hearing did do was serve as a grave reminder that on July 1, student loan interest rates on subsidized Stafford student loans will double from 3.4 percent to 6.8 percent—driving up the cost of higher education for 8 million students by $1,000 per loan.

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Blog Post | Public Health

Meat Industry Admits: We Need Food Safety Inspectors | Nasima Hossain

We’ve already written about the impact that sequestration’s across-the-board cuts will have on food safety. Consumers are understandably troubled, and now it seems that even the meat industry is concerned enough about this problem to write to the President.

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Blog Post | Public Health

Dangers on Our Dinner Tables | Nasima Hossain

Sequestration is one of the hottest topics in D.C. right now, but one consequence that has been largely overlooked is the impact that these budget cuts would have on our dinner tables and our health.

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Blog Post | Consumer Protection

Senators Hold CFPB Director Hostage, Roil Markets | Ed Mierzwinski

On Friday, most Senate Republicans again sent the President a letter saying they would not confirm Richard Cordray to a full term as CFPB director unless the agency's powers and independence were first gutted. Their intransigence contributes to market uncertainty that ignores at least three things: The CFPB is here to stay; the public wants the CFPB; and, banks lose to payday lenders if the director is not confirmed.

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Blog Post | Consumer Protection

Will Consumers Face Credit Card Surcharges? No. | Ed Mierzwinski

On behalf of the big banks, the credit card companies Visa and Mastercard charge unfair fees to merchants. Some are speculating that as a result of a court settlement over these "swipe fees" that consumers will end up paying more when they make a credit card purchase. We don't think surcharging will spread. Here's why.

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DEFEND THE CFPB

Tell your senators to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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