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PROTECTING YOURSELF IN A COMPLEX MARKETPLACE — Our researchers and attorneys provide key tips for how you can shop for the best bank, get the best car loan, protect against identity theft and more.
In today's marketplace, it takes a savvy, informed consumer to avoid common pitfalls and threats. Financial decisions in particular require assessing a blizzard of advertisements and navigating pages of jargon-laden fine print to make decisions about credit cards, bank accounts, loans, health insurance, and cell phone contracts, among other things.
It’s more important than ever to protect yourself:
- Consumers who finance their cars through a dealership pay more than $25.8 billion in additional hidden interest over the lives of their loans.
- In 2010, more than 8 million households were victims of identity theft, a 33 percent rise since 2005.
- One out of 20 consumers has errors on their credit report significant enough to lead to higher rates on loans.
- Banks made around $30 billion in overdraft fees in 2011. Adding insult to injury, these fees were pitched as “overdraft protection,” which most consumers would be better off without.
That's why the U.S. PIRG Education Fund has compiled recommendations and resources for consumers. Our tip sheets address some of the most common complaints received by the Federal Trade Commission—read on, and protect yourself from becoming a statistic.
- Choosing a bank
- Protecting yourself from identity theft
- Picking a cell phone plan
- Protecting renters
- Avoiding mistakes when buying a car
- Dealing with credit cards
- Avoiding problems when paying taxes
- Avoiding dangerous toys
Note that these tips are not intended as, nor should they be construed as, legal advice. If you need legal advice dealing with a consumer problem, consult an attorney.
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Representatives of several leading U.S. consumer and traveler groups today met with U.S. Department of Transportation (DOT) Secretary Pete Buttigieg to urge action on the most pressing consumer protection priorities affecting consumers flying commercial airlines. It was the first time representatives of consumer groups were granted a meeting with a U.S. Secretary of Transportation in nearly five years.
As the Consumer Financial Protection Bureau (CFPB) turns 10 years old, a new report from the U.S. PIRG Education Fund recaps how the agency has helped consumers over the past decade and the steps under way to refocus the CFPB on its mission after three years of retrograde decisions under the Trump Administration.
This report recaps the Consumer Financial Protection Bureau’s results for consumers over the past 10 years, the steps taken to return the CFPB back to its mission after three years of retrograde decisions under the Trump Administration, and our recommendations for CFPB action moving forward.
Johnson & Johnson Consumer Inc. said Wednesday it’s voluntarily recalling all lots of five types of Neutrogena and Aveeno aerosol sunscreen after internal testing showed “low levels of benzene” -- which can cause cancer -- in some samples. J&J also said consumers should stop using the sunscreen.
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