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Blog Post | Financial Reform

House Floor Vote on Budget Delayed over Special Interest "Riders" From Wall Street, Other Powerful Interests | Ed Mierzwinski

UPDATED: Opposition to a controversial provision authored by Citibank forced House leaders to delay consideration of the "CRomnibus" appropriations package just hours before funding for the federal government expired at midnight Thursday. Eventually the bill passed narrowly with the Wall Street provision intact. Action now shifts to the Senate, which has a 48-hour window to pass the bill, but any one Senator can block it under Senate rules. The provision would again allow Wall Street banks to place risky bets with taxpayer-backed funds, and require taxpayers to bail them out if the bets fail, repealing a key protection added in the 2010 Wall Street reform law. 

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News Release | U.S. PIRG | Democracy

Congress considers giving megadonors an even louder voice in our elections

Proposed revisions to campaign finance rules would allow big donors to give over $200,000 to party committees.  

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News Release | U.S. PIRG | Financial Reform

U.S. PIRG Condemns Backdoor, Backroom Appropriations Proposal To Gut Wall Street Reform

We join others, including Americans for Financial Reform and the Leadership Conference on Civil and Human Rights, in condemning this backdoor, backroom appropriations "rider" to weaken the Wall Street reform law's protections for taxpayers and Main Street from the risky derivatives swaps that led to the 2008 financial collapse and recession.

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News Release | U.S. PIRG | Tax

Senator Coburn (R-OK) Slams Corporate Deductions of Legal Damages

Senator Coburn publishes a guide to American taxation that describes how Congress and federal agencies should prevent corporations accused of wrongdoing from writing off their out-of-court settlements as a tax deduction.

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News Release | U.S. PIRG | Tax

Tax deal to put grab bag of tax breaks on the nation's credit card

U.S. PIRG urged the Senate to reject the House’s proposed one-year retroactive tax extender package, which would add approximately $45 billion to the federal deficit, while overwhelmingly catering to special interests and failing to prioritize public benefits

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News Release | Corporate Reform Coalition, U.S. PIRG | Democracy

New Report: Sunlight State by State After Citizens United

In the wake of the U.S. Supreme Court’s ruling in Citizens United v. Federal Election Commission, which allows corporations to spend unlimited amounts from their treasuries to influence elections, states have passed a variety of innovative measures to regulate corporate cash in elections, a new report by the Corporate Reform Coalition shows.

The report, “Sunlight State by State After Citizens United,” details the steps, legislative and otherwise, that each state took to respond to the Citizens United decision and grades them on transparency in spending. It also points to a need for more sweeping federal reform.

 

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Media Hit | Higher Ed

New York Times: On Campus, New Deals With Banks

“Campus debit cards are wolves in sheep’s clothing,” Rich Williams, higher education advocate for U.S. Public Interest Research Group Education Fund and lead author of the report, said in releasing the report. “Students think they can access their dollars freely, but instead their aid is being eaten up in fees.”

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News Release | U.S. PIRG | Higher Ed

BANKS SKIM MILLIONS IN FEES FROM STUDENT AID USING DEBIT-CARD-LINKED STUDENT IDS

Washington, D.C. – Over 9 million students are at risk for increased educational debt, due to bank-affiliated student debit cards that come with high fees, insufficient consumer protections, and few options.  Financial institutions now have affinity partnerships with almost 900 campuses nationwide, grafting bank products onto student IDs and other campus cards to become the primary recipient of billions in federal financial aid to distribute to students.

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News Release | U.S. PIRG | Health Care

Senate Approves S.3187 the Food and Drug Administration Safety and Innovation Act S. 3187

The Senate Passage of the Prescription Drug User Fee Act (PDUFA) not Strong Enough to Ensure Sufficient Consumer Safety from Drugs and Medical devices

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News Release | U.S. PIRG | Higher Ed

There is no 'A' for effort

"It seems safe to say that the more than seven million students who will be taking out Stafford student loans for the next school year, join our disappointment that today the Senate could not pass a bill to keep interest rates from doubling on July 1.  

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