Defend the Consumer Bureau

For more than 20 years, Consumer Program Director Ed Mierzwinski has helped us stand up against big banks and credit card companies.

A CONSUMER COP ON THE FINANCIAL BEAT

You work hard to earn your money. You should be able to save, invest and manage your money without fear of being trapped, tricked or ripped off by the institutions you are trusting with your financial future.

That’s why we need strong consumer protections on Wall Street. And from the 2008 economic collapse, we know how big of an impact those institutions can have on our economy when they play fast and loose with our money. It made it clear: Americans need a watchdog agency on Wall Street, devoted to creating and enforcing fair, clear and transparent rules to protect consumers.

So in 2010, we helped create the Consumer Financial Protection Bureau (CFPB) to be our consumer cop on the financial beat.

THE CFPB GETS THE JOB DONE

Despite the fact that the CFPB is not widely known, they’ve been hugely successful at working for consumers, returning nearly $12 billion to more than 29 million people who were ripped off by companies that broke the law … in just six years.

The Consumer Bureau holds big banks, debt collectors and lenders accountable. Here are a few examples of some of the cases the CFPB has taken on to protect consumers:

When American Honda Finance used discriminatory pricing to rip off African-American, Hispanic and Asia/Pacific Island borrowers who paid too much for car loans, the CFPB returned $24 million to these consumers.

The Department of Justice and 47 states joined the CFPB in a $216 million action against JP Morgan Chase Bank for illegal debt collection practices affecting over half a million Americans.

When it was discovered that Wells Fargo employees were opening unauthorized debit and credit accounts using their customer's information, the CFPB fined Wells Fargo $100 million for fraud.

The CFPB fined Equifax and TransUnion — two of the three largest credit reporting agencies — $5 million for selling inflated credit scores to consumers that were different from ones actually used by lenders and returned $17 million to those harmed by the deception.

In addition, the Consumer Bureau has helped level the financial playing field, educating veterans, senior citizens, new homeowners, college students and low-income consumers on how to keep their finances secure.

The Consumer Bureau's success should be earning it applause in Washington. Yet instead of cheering on the agency, the Trump administration and many members of Congress are pushing to weaken or even get rid of it.

Even with the Consumer Bureau on the job, many Americans are still at risk of reckless financial practices that threaten their homes, their retirement savings and their overall well-being. That’s why we don’t simply need the Consumer Financial Protection Bureau to exist: We need to make it even better, by strengthening commonsense consumer protections.

Issue updates

News Release | U.S. PIRG Education Fund | Consumer Protection

Coronavirus worry triggers most surgical mask, sanitizer prices to spike at least 50% on Amazon

As the Coronvirus outbreak became more widespread, the price of most of the sanitizers and masks rose at least 50 percent higher than the 90-day average. Even one in six products sold directly by Amazon saw prices rise at least 50 percent higher in February

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News Release | U.S. PIRG Education Fund | Consumer Protection

Trader Joe's jumps to top of food recall notification rankings

Following the release last month of U.S. PIRG’s Education Fund’s Food Recall Failure report, which rated 26 top grocery store chains on their transparency about food recalls, Trader Joe's provided new survey answers and clarified where that information lives online and in its stores.

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Report | U.S. PIRG Education Fund | Consumer Protection, Food

Food Recall Failure

Our research found the majority of grocery stores fail to warn the public about hazardous food recalls. While they collect significant information about Americans shopping habits to sell us more food, they aren't doing enough to use that information to protect the public health.

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News Release | U.S. PIRG Education Fund | Consumer Protection, Food

New investigation: Supermarkets failing to warn public about food recalls

Americans are not hearing about food recalls, and that communication breakdown is having serious repercussions for public health. A new report finds that most grocery stores -- which should be one of the best places to learn about recalls -- don’t make it easy for consumers to uncover this information.

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News Release | Consumer Protection

Statement: Consumer Financial Protection Bureau agrees to retain consumer complaint database and enhance elements of the key resource

The Consumer Financial Protection Bureau announced today it would continue to maintain its public consumer complaint database, and that it also plans to make a number of “enhancements” to the database. These include: providing financial information and details into the complaint process to both better address questions and inform consumers before issuing a complaint; and adding materials to help consumers who seek answers to specific questions from financial companies.

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News Release | U.S. PIRG Education Fund | Consumer Tips, Consumer Protection, Higher Ed

College students can save hundreds as they head back to school

College is expensive, requiring many students to take out significant loans to afford an education. On top of that, students have to deal with the additional costs of textbooks, computers and other critical supplies. As students head back to school -- or to school for the first time -- U.S. PIRG Education Fund is releasing a money-saving guide to help them cut those additional costs.

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News Release | U.S. PIRG Education Fund & Kids in Danger | Consumer Protection

1 in 10 surveyed daycares still using deadly, recalled infant sleepers

Three months after nearly 5.4 million infant sleepers were recalled for causing 36 infant deaths, a new survey by the U.S. Public Interest Research Group Education (U.S. PIRG) and Kids in Danger (KID) revealed that many child care facilities continue to use these dangerous inclined sleepers.

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News Release | U.S. PIRG | Consumer Tips, Consumer Protection

Largest bank hack ever, of Capital One, exposes 100 million to identity theft

Everyone should assume that their social security number has been exposed between this breach and breaches of other major companies’ databases, such as Equifax’s. With that in mind, U.S. PIRG recommends all Americans should use their right by law to freeze their credit reports for free

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News Release | U.S. PIRG Education Fund | Consumer Protection, Financial Reform

Equifax penalty is a “sweetheart deal” that leaves consumers at risk

Our response to Equifax paying a $650 million penalty for exposing the social security numbers of 148 million Americans to identity theft.

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Report | U.S. PIRG Education Fund | Consumer Protection

A Public Interest Internet Agenda

A Public Interest Internet Agenda prescribes broadband policy solutions that are tied to the common good and our nation’s prosperity. Connecting our entire nation to the Internet at broadband speed is the key to economic development, improved healthcare and education, energy efficiency, robust democracy and open government.

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Report | U.S. PIRG Education Fund | Consumer Protection

Online Behavorial Tracking and Targeting, Legislative Primer

Consumers are increasingly relying on the Internet and other digital services for a wide range of transactions and services, many of which involve their most sensitive affairs, including health, financial, and other personal matters. At the same time many companies are now engaging in behavioral advertising, which involves the surreptitious tracking and targeting of consumers.

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Report | U.S. PIRG Education Fund | Consumer Protection

Mixed Signals

In an effort to determine America’s preparedness for the transition, the U.S. Public Interest Research Group (PIRG) Education Fund conducted a “secret shopper” survey at 132 locations of five leading national electronics retailers in ten states. The survey found that retail electronic store staff are largely uninformed and are not adequately preparing consumers for the impending transition to digital television.

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Blog Post | Consumer Protection

Fight Against Unfair ATM Surcharge Fees Heads to the U.S. Supreme Court | Michael Landis

Forcing consumers to pay twice to withdraw their money once is wrong. And blocking ATM owners from lowering their fees? That’s absurd, and it’s why we weighed in with a legal “friend of the court” brief.

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Blog Post | Consumer Protection

Consumers Count: Five years of the CFPB standing up for consumers | Kathryn Lee

This week, the Consumer Financial Protection Bureau turns five years old! As part of our efforts to tell more people about the CFPB, we're cross-posting this video blog and comments written by Zixta Q. Martinez of the CFPB (check out the infographic at the end, too!).

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Blog Post | Consumer Protection

You might not know this about overdraft fees | Kathryn Lee

Did your bank sell you on the idea that it’s embarrassing for you to have your debit card declined for a $3 cup of coffee, and that you should pay them $35 each time for “overdraft protection”? Those big fees are what’s embarrassing. Unless you say yes to allow fees, you cannot be charged for over-drafting your debit card.

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Blog Post | Consumer Protection

Lowering your APR might be easier than you think | Kathryn Lee

Many Americans are walking around with a balance on their credit card because of high interest rates, or annual percentage rate (APR) charges for unpaid balances. It's best to pay off your balance in full but if you don't or can't, a higher APR makes your debit grow faster. What most people don’t realize is this APR can be negotiated to a lower rate.

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Blog Post | Consumer Protection

30 Years of "Trouble in Toyland," 30 Years of Safety Improvements | Anna Low-Beer

Every year, U.S. PIRG Education Fund releases Trouble in Toyland, a report on toy safety which examines toys bought at major national retailers, looking for safety hazards including toxic toys, choking hazards, labeling violations, powerful magnets, and excessibely loud toys. We continue to find these hazards on store shelves, which indicates the need for continued vigilance and adequate enforcement of safety regulations. But despite lingering dangers, in the last 30 years, we've come a long way in terms of both policy and compliance with standards.

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News Release | US PIRG

During this time of year, families are thinking about the children going back to school, and for parents who are sending their kids to college, it can be a bit overwhelming. A key to addressing those concerns is making sure their teens are prepared for “adulting” -- in other words, taking care of their own lives.

News Release | US PIRG

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.

Report | U.S. PIRG Education Fund

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.

News Release | U.S. PIRG Education Fund

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.

News Release | US PIRG

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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