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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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Blog Post | Consumer Protection

FTC seeks information from data brokers | Ed Mierzwinski

Today, the Federal Trade Commission (FTC) issued nine administrative orders seeking information to analyze the "Data Broker Industry’s Collection and Use of Consumer Data." The questions being asked track closely the questions posed both in a forthcoming U.S. PIRG/Center for Digital Democracy law review article and in similar information requests from the Bi-Partisan Congressional Privacy Caucus.

 

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Blog Post | Consumer Protection

CFPB's #2 is leaving, replacement must meet standards to become #1 | Ed Mierzwinski

The industry trade press is all a-flutter with demands that when CFPB Deputy Director Raj Date leaves, that be replaced with what they characterize as "another" bank-friendly regulator when he leaves. Raj Date wasn't selected as CFPB special advisor and then deputy director because he had a banking background; he was selected because his additional consumer background made him qualified to become director.

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News Release | U.S. PIRG | Budget

Facebook’s Tax Dodge Stands to Make Billions for Company and Zuckerberg

U.S. Senator Carl Levin isn’t necessarily the man you’d look to for the latest news about Facebook. The 77-year old was described by Time magazine as “pudgy, balding and occasionally rumpled, and he constantly wears his glasses at the very tip of his nose.” However, today he broke some shocking news on the Senate floor about special tax favors that Facebook and its CEO, Mark Zuckerberg, will enjoy at great cost to the U.S. Treasury.

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Media Hit | Public Health

Asbury Park Press: Pallone calls for regulation of lead, arsenic in apple juices

Pallone joined with Karina Wilkinson of the Food & Water Watch, Gideon Weissman of the New Jersey Public Interest Research Group, Chuck Bell from Consumers Union and concerned New Jersey parents to demand action to prevent high toxin levels in drinks, and now food, primarily consumed by children.

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News Release | U.S. PIRG | Tax

White House Plan to Close Special Interest Tax Loopholes Is the Right Approach to Reform, But Details Matter

The President has put forward the beginnings of a tax reform plan that takes the right approach, but is still missing critical details. America needs a level playing field where businesses succeed by being more productive and innovative, not by hiding profits in the Cayman Islands or other tax havens. By ending special-interest tax preferences, the administration plan could help the economy and reduce debt, while addressing public outrage about large companies dodging their taxes.

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News Release | U.S. PIRG | Budget

White House Plan to Close Special Interest Tax Loopholes Is the Right Approach to Reform, But Details Matter

Statement by Phineas Baxandall, Senior Tax and Budget Analyst for the U.S. Public Interest Research Group, in response to the White House announcement today proposing to eliminate tax loopholes and preferences.

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News Release | U.S. PIRG | Financial Reform

U.S. PIRG Applauds CFPB Proposal To Regulate Biggest Credit Bureaus

“Last summer over 10,000 PIRG members submitted comments to the Consumer Financial Protection Bureau (CFPB) urging strict regulation of credit bureaus and credit scoring firms. We applaud the CFPB for its proposal today to subject the nation’s largest credit bureaus and credit scoring firms to full scrutiny as “larger participants” (CFPB pdf) in the financial marketplace."

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