Updates

Last week, the U.S. Treasury Department came out with a report mandated by a Presidential executive order. As feared, the report is a Wall Street wish list, with a few crumbs thrown to small banks. The CFPB and investor protections are left in ruins.

In the past year, we’ve seen a lot of progress. Consumers are at the forefront of making that happen, and I’m proud that we’ve been able to harness consumer preferences and push several companies to do better. Here’s what’s happened over the past year.

News Release | U.S. PIRG | Financial Reform

Best Interest Retirement Rule Takes Effect Today

Today, the Labor Department’s rule requiring retirement advisers to make 401-k and IRA investment recommendations to you based on a fiduciary standard, or in your “best-interest,” not theirs, goes into effect after a 2-month delay imposed by the Trump administration. Read our statement.

Disenfranchised voters deserve action

By | Sean Doyle
Democracy Digital Organizer

At least 26,000 voters in Pennsylvania were disenfranchised, through no fault of their own, before the last election due to problems processing their voter registration applications. What happened?

News Release | U.S. PIRG | Financial Reform

What Could Possibly Go Wrong?

Our statement on House passage of the Wrong Choice Act. The bill dismantles the successful CFPB and repeals most Dodd-Frank Act protections against another financial collapse. What could possibly go wrong if Wall Street banks and predatory payday lenders are allowed to run amok again?

UPDATED: Added House Floor Letter Opposing HR 10, Wrong Choice Act, Link:

Yesterday we released a report showing how the CFPB works to protect servicemembers, veterans and their families from financial predators that “line up outside our military bases like bears on a trout stream.” Today the House begins floor debate on the so-called Financial Choice Act. This Wrong Choice Act, incredibly, turns the CFPB into an unrecognizable husk incapable of protecting anyone, including servicemembers.

Protecting Those Who Serve

This report, the tenth in our series on the CFPB's Public Consumer Complaint Database, is called "Protecting Those Who Serve." It is an analysis of more than 44,000 consumer complaints from active-duty servicemembers, veterans and their families. The report also explains the work the CFPB and its Office of Servicemember Affairs does to protect military families in the financial marketplace. Debt problems also are a leading cause of revoking secuirty clearances, which affects military preparedness.

News Release | Consumer Protection

REPORT: DEBT COLLECTION ABUSES LEADING SOURCE OF SERVICE MEMBER AND VETERAN COMPLAINTS TO CFPB

Debt collection abuses were the leading source (32%) of 44,000 service member complaints to the Consumer Financial Protection Bureau, according to a new report. Further, legislation on the House floor this week intended to dismantle the CFPB would place service members, veterans and their families in “financial harm’s way,” thereby threatening unit preparedness.

Men: The Lead in Your Hair Dye Could be Harming You

By | Kara Cook-Schultz
Toxics Program Director

Lead acetate is a substance used since the Roman Empire added it as a sweetener to food and drinks. But today we don’t drink it — we know that lead acetate can cause serious health problems. Some health risks posed include lung irritation, abdominal pain, nausea, high lead levels in blood and urine, cancer, and even death in the most serious cases.

News Release | Public Health, Antibiotics

Maryland’s Keep Antibiotics Effective Act Goes Into Law without Governor’s Signature

The Keep Antibiotics Effective Act has gone into law without a signature from Governor Larry Hogan, making Maryland the second state in the country after California to meaningfully address the widespread misuse of antibiotics in livestock and poultry. The new law will prohibit the routine use of antibiotics on animals that are not sick, a practice public health experts say can fuel the spread of drug resistant bacteria.

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DEFEND THE CFPB

Tell your senators 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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