Consumer Protection Updates

U.S. PIRG, along with Consumers for Auto Reliability and Safety (CARS) and the Center for Auto Safety, is challenging in court recent actions by the Federal Trade Commission that put the health and safety of millions of Americans at risk. This week, we amended our previous court filings because the FTC has now filed unacceptable decrees with six, not three, used car dealers.

Do Consumers Need the CFPB?

By | Elizabeth Ridlington
Policy Analyst

The Consumer Financial Protection Bureau helps protect consumers in the financial marketplace, which includes banks, debt collectors, mortgage and vehicle lenders, credit card companies, credit bureaus, payday lenders, student loan servicers, and other financial actors. The CFPB protects all consumers by implementing fair, clear and transparent rules to protect consumers in the financial marketplace.

Banks Cook Books To Promote Wrong Choice Act, Attack CFPB

By | Ed Mierzwinski
Consumer Program Director

Today the House Financial Services Committee takes up the so-called Financial Choice Act, which we call the Wrong Choice Act, to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and leave the CFPB an unrecognizable husk incapable of protecting consumers. Some 52 state bank associations urged support of the bill, based on a "cook-the-history-books" analysis of bank consolidation, which has not increased since 2010, even though they make the claim based on preposterous math.

How Has the CFPB Helped Consumers?

By | Elizabeth Ridlington
Policy Analyst

The Consumer Financial Protection Bureau has helped consumers reclaim billions of dollars lost through unfair financial practices. As of the end of 2016, the CFPB had returned more than $11.8 billion to 29 million customers.

Prepaid card consumer protections on the chopping block

By | Anna Low-Beer
Digital Campaigner

Commonsense consumer protections for prepaid cards against fraud, hidden fees and overdraft charges are on the Congressional chopping block. Resolutions have been introduced in both the House and the Senate that would roll back an important prepaid card rule created by the Consumer Financial Protection Bureau last year.

News Release | U.S. PIRG | Financial Reform

Financial “CHOICE” Act is “Cruel Choice” for CFPB & Consumers & Students

U.S. PIRG release opposing new Financial Choice Act 2.0 to be considered soon in House. Our release points out that just today, the CFPB proved yet again that it is needed to protect consumers, in this case, student consumers, since student loan complaints are spiking.

Financial Choice Act: A Cruel Choice for the CFPB & Consumers

By | Ed Mierzwinski
Consumer Program Director

UPDATED 4/25 with link to our letter to Congress. This week, on Wednesday 4/26, the House FInancial Services Committee holds a hearing on Chairman Jeb Hensarling's Financial Choice Act 2.0. It's a brutal un-do of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act that forgets, or ignores, the historical fact that reckless bank practices abetted by loose regulators wrecked our economy in 2008. A key goal of the proposal is to weaken the successful CFPB into an unrecognizable husk incapable of protecting consumers.

News Release | U.S. PIRG | Financial Reform

New report shows victims of aggressive tactics from medical debt collectors

A new U.S. PIRG Education Fund Report documents consumer complaints to the Consumer Financial Protection Bureau about medical debt. Most complaints are about debt never owed, already paid, or not verified as the consumer's debt. The report demonstrates the ongong need to defend CFPB from speical-interest attacks.

Report | U.S. PIRG Education Fund | Financial Reform

Medical Debt Malpractice

Millions of Americans are contacted by debt collectors every year over debt related to medical expenses. "Medical Debt Malpractice" is the latest (9th) in our series based on analysis of complaints in the Consumer Financial Protection Bureau's public complaint database. The report demonstrates that the CFPB is a critical agency protecting consumers against unfair financial practices and needs to be defended against special interest attacks.

Last year, an Environmental Protection Agency (EPA) panel found that a chemical pesticide, chlorpyrifos, is unsafe to ingest at any level. So in November of 2016, the EPA proposed to completely ban its use. But last week the EPA changed course: Scott Pruitt announced that EPA will let Big Ag keep using this chemical on food.

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DEFEND THE CFPB

Tell your representative 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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