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Blog Post | Consumer Protection

CFPB gets results for consumers, slams Chase for deceptive card add-ons | Ed Mierzwinski

Earlier this week, USPIRG Education Fund released "Big Banks, Big Complaints," a report documenting how the CFPB is helping bank customers with its public complaint database. Today, the CFPB announced it had imposed a $20 million civil penalty on JP Morgan Chase and ordered it to refund $309 million to over 2 million consumers for deceptively marketing junky credit card add-on products, some of which consumers didn't even receive. The CFPB is getting results.

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News Release | U.S. PIRG | Budget, Tax

Senator Levin Introduces Bill to Crack Down on Tax Haven Abuse

Senator Carl Levin (D-MI), joined by cosponsors Sheldon Whitehouse (D-RI), Mark Begich (D-AK), and Jeanne Shaheen (D-NH), introduced the Stop Tax Haven Abuse Act, which would save $220 billion over the next ten years. U.S. PIRG draws attention to the abuse by shipping more than 700 postcards to a Bank of American P.O. box in the Cayman Islands, a well-known tax haven. 

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News Release | U.S. PIRG | Budget, Tax

JPMorgan Shouldn’t Receive Tax Windfall for London Whale Penalty

Unless regulators forbid JPMorgan Chase from writing off an $800 million settlement as a tax deduction, taxpayers could end up shouldering 35 percent of the cost of the settlement.

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News Release | US PIRG Education Fund | Consumer Protection

New Report Identifies Banks Consumers Complain About Most

WASHINGTON – Thousands of Americans are using the Consumer Financial Protection Bureau’s public Consumer Complaints Database to settle disputes with their banks, according to a new report from the US PIRG Education Fund. The report highlights banks that generated the most complaints through their various banking services in each state.

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News Release | U.S. PIRG | Budget, Food, Tax

Groups, Lawmakers Demand Cuts to Ag Subsidies, Deliver Petitions from 278,000 Citizens, 1,000 Small Farmers

Representatives Ron Kind (D-WI) and Tom Petri (R-WI) joined groups from across the political spectrum to deliver petitions and call on Congress to end subsidies to large agribusinesses, which are a part of the Farm Bill that is set to expire at the end of this month. 

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News Release | U.S. PIRG | Higher Ed

New Financial Aid Shopping Sheet Helps Students Know Before They Owe

“The good news today is that students have another tool to help keep skyrocketing student loan debt in check.  

“College students need to understand how much college costs and how much they will owe after graduation.  However, financial aid award letters often make it hard for students to answer these questions. 

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News Release | U.S. PIRG | Higher Ed

President to Sign Bill Preventing Student Loan Interest Rates from Doubling

Statement of Rich Williams, U.S. PIRG Higher Education Advocate, on the signing of bipartisan legislation to prevent subsidized Stafford student loan interest rates from doubling:

“Students can breathe a sigh of relief today.  At least for the next year, already debt-strapped students will get a temporary reprieve from doubling interest rates. 

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News Release | U.S. PIRG | Higher Ed

Responding to Students, Congress Extends Low College Loan Rate

Statement of Rich Williams, U.S. PIRG Higher Education Advocate, on the Congressional passage of bipartisan legislation to prevent subsidized Stafford student loan interest rates from doubling:

Congress listened to students and their families and delivered a bill that stops student loan interest rates from doubling. Students already face unprecedented student loan debt and adding an additional $1,000 more would not only crunch individual borrowers, but would have further weighed down the recovering economy. We applaud Congress for coming together to pass this much-needed legislation.

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News Release | U.S. PIRG | Transportation

Transportation Bill is a Step Backwards

Statement by Phineas Baxandall, U.S. PIRG’s Senior Transportation Analyst, regarding the disappointing federal Transportation Bill as released from conference committee today.

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News Release | U.S. PIRG | Health Care

Supreme Court Upholds Health Reform

Today’s decision is good news for consumers. Insurance companies can’t go back to the days of dropping your coverage once you become ill, or denying coverage to sick children. And beginning in 2014, the days of insurers being able to deny anyone coverage for “pre-existing conditions” will be history. 

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