Blog Posts By:

Ed Mierzwinski,
Senior Director, Federal Consumer Program

We're co-sponsoring a zoom webinar Wednesday, June 24, at noon ET on two ways consumers and patients are harmed by drug industry price manipulation and lack of competive restraints. Consumers don't get a fair price and don't always get an effective drug. Find out how to register for the "Rebate Walls and Step Therapy" event featuring leading experts. 

Public health experts have made it abundantly clear that to safely lift stay-at-home rules we must have four key things we don’t yet have. We need fast, accurate and widely available testing. We need a better plan for isolating and supporting people who have COVID-19. We need sufficient hospital capacity, including medical and protective equipment, to treat all patients safely. And we need more contact tracing. This blog explains U.S. PIRG's support for automated warning and contact tracing, subject to appropriate privacy and civil liberties protections, which can provide critical information quickly about who has potentially been exposed.

We've joined leading consumer, civil rights, labor and older American organizations in a comment letter urging the Securities and Exchange Commission (SEC) to strengthen its proposed "Regulation Best Interest" intended to ensure that all broker-dealers and other individuals and firms offering investment advice act do so in a fiduciary capacity, or in the best interest of their investor-clients. (Right now, it doesn't).

We joined leading consumer organizations to criticize the national bank regulator OCC's new proposal to charter non-bank fintech companies. We called it both illegal and a gateway for online predatory lenders to enter states where high-cost payday lending is banned. Leading state bank regulatory officials also opposed the OCC move, which is also one of the recommendations in a controversial Treasury Department report released the same day.

In response to a Request for Information from the Department of Health and Human Services (HHS) to comment on its "Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs", we joined Consumers Union and other leading groups in a comment letter. In particular, we detail ways to rein in abusive and anti-competitive practices of both Pharmacy Benefit Managers (PBMs) and Big Pharma's brand name drug companies that force American consumers to pay too much for health care. Our comments support many of the proposals from Secretary Azar and HHS.

Monday, June 4, at midnight (ET) marks the deadline for filing public comments on the Consumer Financial Protection Bureau’s latest inward-facing Request For Information (RFI); this one is on the future of the public Consumer Complaint Database, which has been disparaged for years by various bank industry actors and their coin-operated think tanks but most recently by the CFPB’s acting director, Mick Mulvaney. Here's why we are fighting to keep the database public.

This month, Scott Tucker, a payday lender who used his proceeds to fund a LeMans racing team, was sentenced to 16 years in jail on federal racketeering and other charges.   Last fall, his former business partner Charles Hallinan, known as the Philadelphia Main Line "godfather" of payday lending, was also convicted of federal racketeering charges. Tucker and Hallinan's main business model? Their claim that their payday loan enterprises were for the benefit of Native American tribal partners and therefore subject to tribal immunity. The authoritative public interest law firm Public Justice speculates: "Tribal Immunity" may no longer be a Get-Out-of-Jail Free Card for payday lenders." It's about time.

You may have heard that Congress just voted to take away many of your online broadband privacy protections. After a little background, we will give you some tips on how to protect what’s left.

We joined Consumer Financial Protection Bureau Director Richard Cordray and Washington, DC Attorney General Karl Racine for release of new CFPB data on debt collector abuses. Fully 1 in 4 consumers feel "threatened" by abusive, possibly illegal, debt collector tactics. The release also included an emphasis on problems with the "debt buyer" industry, comprised of firms that buy older, uncollected debt for as little as less than a penny on the dollar.

This month, we published our 8th report based on analyzing consumer complaints collected in the CFPB's Public Consumer Complaint Database. The release of "Big Banks, Big Overdraft Fees" provides a good year-end opportunity to summarize a few of the reasons to be thankful for the Consumer Financial Protection Bureau, which took over in July 2011 as the first federal regulator with just one job: protecting consumers from unfair financial practices. The idea of the CFPB needs no defense, only more defenders.