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News Release | U.S. PIRG | Consumer Protection

CFPB Gets Results: Orders Chase Bank to Repay Consumers Over $300 Million Over Sale of Junky Credit Card Add-On Products That Weren’t Even Delivered

Yesterday the CFPB fined Chase Bank $20 million and ordered it to refund over 2 million consumers a total of over $300 million over the sale of junky credit card and debit card add-ons that weren’t even delivered.

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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 Education Fund | Democracy, Tax

Thirty Fortune 500 Companies Paid More to Lobby Congress than they Did in Federal Income Taxes

With the second anniversary approaching of the Supreme Court’s decision in the Citizens United case – which opened the floodgates to corporate spending on elections – U.S. Public Interest Research Group (U.S. PIRG) and Citizens for Tax Justice reveal 30 corporations that spent more to lobby Congress than they did in taxes.

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Media Hit | Tax

CBS News: Big Spenders on Capitol Hill Got Big Tax Breaks

The new report is from the left-leaning U.S. Public Interest Research Group and Citizens for Tax Justice. They highlight companies they call "especially aggressive at dodging taxes and lobbying Congress: the Dirty Thirty."

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Media Hit | Higher Ed

CNN: Consumer Bureau: Now, It Can Do Something

Rich Williams, a higher education advocate for U.S. Public Interest Research Groups (PIRG) said he's looking forward to the consumer bureau's work with student loans, as well as credit cards and debit cards issued on campus. With a director, the bureau can now set rules of the road for all providers of student loans, not just those issued by banks.

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News Release | U.S. PIRG | Financial Reform

U.S. PIRG Applauds President For “Bold and Important” Recess Appointment of Richard Cordray To Head New Consumer Financial Protection Bureau (CFPB)

President Obama is taking a bold and important step to protect consumers from financial tricks and traps by announcing a recess appointment of his well-qualified nominee, Richard Cordray, to head the new Consumer Financial Protection Bureau.

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Media Hit | Financial Reform

LA Times: Richard Cordray Appointment 'Turns Lights On' at Consumer Bureau

"Congress wanted the bureau to protect consumers no matter where they shopped for financial products," said Ed Mierzwinski, consumer program director at the U.S. Public Interest Research Group. "With a director, the public can now have confidence the consumer bureau is ready, willing and able to investigate their financial problems."

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