Updates

CFPB Begins Payday Regulation Push In Richmond

By | Ed Mierzwinski
Consumer Program Director

We joined the CFPB in Richmond Thursday for a field hearing on a proposed rule to regulate payday lending and similar high-cost short-term loans. The CFPB's draft rule is comprehensive, covering a variety of loans, but it contains potential loopholes that we and other advocates will urge the bureau to close before it finalizes this important effort. Here's a short blog with some photos from Richmond.

News Release | U.S. PIRG Education Fund | Transportation

Summary of Convening Organized on the Future of Driving

U.S. PIRG helped convene a dialogue at the Brookings Institution in January 2015 with leading experts and state and federal officials about future directions in the volume of driving, and what changing trends mean for effecient transportation policy.

News Release | US PIRG | Transportation

NEW SURVEY SHOWS OHIO MILLENNIALS WANT TO LOCATE IN CITIES WHERE DRIVING IS OPTIONAL WITH MULTIPLE TRANSPORTATION OPTIONS

A new study presenting a survey of 500 students at 10 of the state’s public and private universities sheds lights on an overlooked issue in debates over Ohio’s “brain drain.”  The report Searching for a Better Ride, from the Ohio PIRG Education Fund shows that the majority of students surveyed value the importance to live in a place where they could get around without driving after graduation. 

News Release | U.S. Public Interest Research Group | Tax

34 Thousand Tell Justice Dept: Deny BP Tax Write Off for Gulf Oil Spill

Today, the U.S. Public Interest Research Group delivered over 34,000 petitions to the Department of Justice calling on the agency to deny British Petroleum (BP) tax deductions for its remaining payments to address the 2010 Gulf Coast oil spill. A forthcoming decision to address BP’s liability under the Clean Water Act could earn the company a $4.9 billion tax windfall if the Justice Department signs an out-of-court settlement and fails to specify that the payments are non-deductible.

CFPB Adds Consumer Stories to Public Complaint Database

By | Ed Mierzwinski
Consumer Program Director

Today, the CFPB took a step to make its excellent public database of consumer complaints even better, by adding complaint narratives (stories), but only with the consumer's consent. It's a step we've long urged. It will enrich our research into the marketplace, help consumers make choices and help good-actor firms avoid bad practices by others.

News Release | U.S. Public Interest Research Group Education Fund | Budget

New Report Ranks All Fifty States on Government Spending Transparency

Government spending transparency is improving, but many states still lag far behind, according to “Following the Money 2015: How the 50 States Rate in Providing Online Access to Government Spending Data,” the sixth annual report of its kind by the U.S. Public Interest Research Group Education Fund. Some states have improved their spending transparency web portals significantly, and even introduced entirely new state-of-the-art transparency sites with innovative features, while others are still barely achieving the minimum standards.

News Release | US PIRG | Transportation

Statement on New Federal Driving Data for 2014

Statement by Phineas Baxandall, Senior Analyst and Transportation Program Director at the U.S. Public Interest Research Group, about the Federal Highway Administration’s release today of data showing an increase in the total number of vehicle miles travelled for 2014.

 

 

Two big consumer stories so far this week offer hope to consumers victimized by credit bureau errors and, more generally, by an inability to take credit bureaus, credit card companies, banks or payday lenders to court when harmed. On Monday, New York's Attorney General Eric Schneiderman signed a groundbreaking agreement with the Big Three credit bureaus, Equifax, Trans Union and Experian. Then today, the CFPB released a report finding that consumer legal rights are infringed by small-print forced arbitration clauses in credit card and other contracts.  The CFPB will hold a webcast public hearing at 11am Eastern time today (Tuesday) to discuss the report's findings and next steps.

Media Hit | Financial Reform

Credit Bureaus’ Deal to Improve Accuracy ‘Huge’ for Consumers

(Bloomberg) -- Buying homes, getting jobs and borrowing money will be easier after an agreement by the three biggest U.S. consumer credit reporting services with New York.[...] “It’s a sea change in the way the credit bureaus treat complaints,” said [U.S. PIRG's Ed] Mierzwinski. “The credit bureaus have been run by computers for years now. They’re going to have to hire more people and actually verify that what a creditor said is true.”

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