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Media Hit | Tax

Obama didn't put up 'much of a fight' to keep Holder

"Holder faced criticism from consumer advocates, too. He was accused of failing to prosecute bankers responsible for the mortgage meltdown in 2008 — and when he reached civil settlements with major Wall Street institutions, he often allowed them to write off the judgments as business expenses, said Michelle Surka of the U.S. Public Interest Research Group."

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News Release | U.S. PIRG | Consumer Protection

Groups Applaud CPSC for Protecting Kids From Dangerous Magnets

U.S. PIRG and other consumer advocates, joined by pediatricians and pediatric gastroenterologists, today applauded the Consumer Product Safety Commission’s (CPSC) vote to address the hazards posed by high powered magnets.  Children who swallow two or more magnets are at risk of developing serious injuries such as small holes in the stomach and intestines, intestinal blockage, blood poisoning, and even death.

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Blog Post | Consumer Protection

We urge CFPB to add stories to complaint database | Ed Mierzwinski

While Congress gets the bulk of the news, a lot of the work in Washington is done by agencies writing rules or enforcing laws. The rulemaking process is a contentious battle, where powerful special interests mobilize thousands of lawyers and PR flacks to delay or kill efforts to protect consumer, worker and community health and safety or to make markets work. So, we fight back. Yesterday, we urged the CFPB to add consumer stories to its Public Consumer Complaint Database. We've also recently urged other agencies to take action, including asking the DOT to expand airline passenger rights and the FCC to protect a free and open Internet.

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Blog Post | Budget, Tax

Recent Inversion Wave Brings on Slew of Outrage - What's Next? | Jaimie Woo

 

Ten years ago, Republicans and Democrats agreed that corporate tax dodging was a problem, and came together to fix it. But large U.S. corporations got trickier — they sought out new ways to get around paying their taxes on U.S. profits, hiring thousands of tax accountants to take advantage of loopholes in our tax code. The recent fix? Corporate inversions.

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Blog Post | Consumer Protection

CFPB, FTC Take Separate Actions Against Two Illegal Online Payday "Cash-Grab"Schemes | Ed Mierzwinski

Yesterday the CFPB and FTC announced separate actions against two online payday lenders running essentially the same alleged scam. Both "lenders" collected detailed consumer information from lead generation websites or data brokers, including bank account numbers, then deposited purported payday loans of $200-300 into those accounts electronically, and then collected biweekly finance charges "indefinitely,"

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

Report Exposes How Taxpayers Bear Cost of Corporate Settlements

A report released today spotlights a common practice where corporations that commit wrongdoing and agree to financial settlements with the federal government, go on to claim such settlement payments as tax-deductible business expenses. The new study, released by the U.S. Public Interest Research Group (U.S. PIRG), follows a record year of corporate settlements, while many more settlements relating to banking, environmental, and consumer safety issues are expected.

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Wall Street Journal: Consumer Watchdog Readies to Bare Its Teeth

The Consumer Financial Protection Bureau is entering 2013 poised to flex its muscles more vigorously than ever before. [...] The CFPB is "going to be more confident and more aggressive," said Ed Mierzwinski, consumer program director for U.S. Public Interest Research Group, a consumer-advocacy organization.

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Media Hit | Budget, Tax

Washington Post: Government doing more to prevent corporations from deducting settlements

Federal agencies are taking greater steps to prevent companies from claiming tax deductions on settlements reached with the government, though loopholes in the tax code persist, according to a new study by U.S. Public Interest Research Group.

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News Release | U.S. PIRG | Tax

Does UBS Settlement Include $245 Million “Hidden Bank Fee” for Taxpayers?

The following is a statement of Ryan Pierannunzi, Tax and Budget Associate with U.S. PIRG, on the settlement announced today  between UBS and government regulators over the Libor scandal in which UBS and other financial institutions are accused of unlawfully tampering with interest rates. Along with agreeing to this settlement, UBS admitted to charges of fraud. The total settlement amount is $1.5 billion, of which $1.2 billion will be paid to U.S. agencies.

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News Release | U.S. PIRG | Tax

UBS Libor Scandal: Should Taxpayers Have to Pay for Bank Wrongdoing?

The following is a statement of Ryan Pierannunzi, Tax and Budget Associate with U.S. PIRG, on the anticipated upcoming settlement between UBS and government regulators over the Libor scandal in which UBS and other financial institutions are accused of unlawfully tampering with interest rates.

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We're teaming up with big restaurant chains to stop the overuse of antibiotics on factory farms. Call on KFC to stop selling meat raised on routine antibiotics.

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