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News Release | U.S. PIRG | Financial Reform

CFPB Taps Former Pentagon Legal Official to Head Office of Servicemember Affairs

We join National Consumer Law Center, Americans for Financial Reform and other leading groups in a release commending the appointment of senior Pentagon official Colonel Paul Kantwill (U.S. Army, Retired) to lead the Consumer Financial Protection Bureau’s (CFPB) Office of Servicemember Affairs. The CFPB plays an important role in protecting servicemembers, veterans and their families from financial predators.

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Blog Post | Financial Reform

CFPB Slams Two Credit Bureaus For Deceptive Marketing, Expect Experian Next | Ed Mierzwinski

This week, the Consumer Financial Protection Bureau nailed two "big 3" credit bureaus --Trans Union and Equifax -- for deceptive marketing of their over-priced, under-performing credit monitoring subscription products.  Combined fines and consumer restitution total $23 million. I predict that the CFPB will also bring a case against the remaining bureau, Experian, and that it will pay much more, because Experian really has led the way in aggressively marketing these tawdry products. They don't prevent identity theft, nor do they always accurately disclose your credit score, at fees of up to $16.95/month or more. Yikes!

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News Release | U.S. PIRG | Consumer Protection

Consumer Bureau Under Attack

Statement by Mike Litt, Consumer Advocate, at U.S. PIRG about expected attacks against the Consumer Bureau in the 115th Congress.

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Blog Post | Consumer Protection

Guest post: To President-elect Trump: What if Everything You’ve Been Told about the DOL Fiduciary Rule is Wrong?

With the DOL fiduciary rule already delivering real benefits to retirement savers, will the Trump administration give in to special interest pressure and snatch those benefits away?

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Blog Post | Consumer Protection

U.S. SUPREME COURT TO DECIDE WHETHER CREDIT CARD COMPANIES CAN CONTINUE TO OBSCURE THE TRUE COST OF CREDIT | Michael Landis

Credit cards are convenient. But using them is expensive. The problem is that most consumers don’t know just how expensive it is. That might change in some states after the U.S. Supreme Court weighs in on a case currently pending before it.

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News Release | U.S. PIRG | Consumer Protection

CFPB Issues Record $100 Million Fine on Wells Fargo For "Beyond Outrageous" Sales Practices

On September 8 the CFPB announced a record $100 million civil penalty plus consumer restitution against Wells Fargo, among the  nation’s largest banks, for a series of unfair and abusive sales practices by “thousands” of employees that included opening “secret” accounts for “hundreds of thousands” of existing customers, solely to meet sales goals to receive financial incentives. The CFPB action was joined by simultaneous orders announced by the U.S. Office of the Comptroller of the Currency (OCC) ($35 million civil penalty) and the City of Los Angeles ($50 million civil penalty). Our statement follows.

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News Release | U.S. PIRG & Public Citizen | Democracy

Fort Myer Construction and Associates Gave More Than $130,000 to D.C. Council in Past Five Years

Top executives and their families at Fort Myer Construction – the D.C.-based construction company involved in a contracting controversy with Mayor Muriel Bowser’s office – have donated at least $130,000 to 18 candidates since 2011. They used contributions from 11 sources, according to research by the U.S. Public Interest Research Group (U.S. PIRG) and Public Citizen. The case highlights the need for public financing of elections.

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News Release | U.S. PIRG | Democracy

California legislature opens door to citizen-funded elections

 

On Wednesday, the California State Senate passed SB 1107, a bill to lift California’s ban on small donor empowerment programs, following passage in the State Assembly. Small donor empowerment programs provide limited public matching funds for small contributions to qualifying lawmakers. SB 1107 received bipartisan support from two-thirds of state legislators in the Senate and Assembly and now heads to California Governor Jerry Brown for consideration.

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

Report: Analysis of Payday Complaints Reveals Need for Stronger Federal Protections

Consumer complaints about payday loans to the Consumer Financial Protection Bureau (CFPB) show a critical need for strengthening the agency’s proposed rule to rein in payday loans and other high-cost lending, according to a report released today by the U.S. PIRG Education Fund.

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Report | U.S. PIRG Education Fund | Budget, Tax

Transparency in City Spending

The ability to see how government uses the public purse is fundamental to democracy. Transparency in government spending checks corruption, bolsters public confidence, improves responsiveness, and promotes greater effectiveness and fiscal responsibility.

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Report | U.S. PIRG Education Fund | Democracy

Elections Confidential

“Elections Confidential” describes how secret donors poured hundreds of millions into the 2012 election through social-welfare groups that are really political vehicles and via shell corporations formed as conduits to hide a funder’s identity. The first post-Citizens United presidential election cycle was bought and paid for by a handful of wealthy donors, but the corrosive influence of money in politics was amplified by the fact that we don’t know who – or what – actually provided much of the funding.

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Report | U.S. PIRG Education Fund, Demos | Democracy

Billion-Dollar Democracy

The first presidential election since Citizens United lived up to its hype, with unprecedented outside spending from new sources making headlines.

Demos and U.S. PIRG analysis of reports from campaigns, parties, and outside spenders to the Federal Election Commission found that our big money system distorts democracy and creates clear winners and losers.

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Report | U.S. PIRG Education Fund | Budget, Tax

Subsidizing Bad Behavior

BP’s recent $4.5 billion legal settlement with the Justice Department for its misdeeds in the Gulf oil spill was historic for being the largest ever criminal settlement. But it was historic for another reason as well—none of it is allowed to be tax deductible. Unfortunately, too many settlements for wrongdoing end up as tax deductions.

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Report | U.S. PIRG Education Fund | Budget, Tax

What America Could Do With $150 Billion Lost to Offshore Tax Havens

Many corporations and wealthy individuals use offshore tax havens—countries with minimal or no taxes—to avoid paying $150 billion in U.S. taxes each year. By shielding their income from U.S. taxes, corporations and wealthy individuals shift the tax burden to ordinary Americans, who must pick up the tab in the form of cuts to public services, more debt, or higher taxes. The $150 billion lost annually to offshore tax havens is a lot of money, especially at a time of difficult budget choices. To put this sum in perspective, we present 16 potential ways that income could be used.

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Blog Post | Democracy

Losing the Voting Rights Act: A Timeline | Sarah Friedman

A historic piece of legislation, the Voting Rights Act has protected fair access to the polls since 1965. But recent changes have gutted critical protections offered by the VRA. Here's what you need to know.

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Blog Post | Public Health, Food

Food recall season off to a big start | Anya Vanecek

Once again, the shift from spring to summer has carried with it a string of contamination-related food recalls. Twenty in the last month -- and that number is climbing.

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Blog Post | Tax

It’s Time for the U.S. to Lead on Public Registries for Anonymous Shell Companies | Jeremy Flood

The UK and Australia have already agreed to disclose the true owners of anonymous shell companies. It's time for the United States to get serious about incorporation transparency. 

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Blog Post | Democracy

The Senate just introduced major election reforms, but will they be enough? | Olivia Lutwak

The money in politics legislation introduced today in the Senate is a major step in the right direction -- but will it be enough to put everyday Americans in control of our elections?

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Blog Post | Public Health

Statement on Toxic Substances Control Act (TSCA) Passage from U.S. Public Interest Research Group Toxics Campaign Director Carli Jensen | Carli Jensen

U.S. PIRG is disappointed with the TSCA bill that was passed today by the Senate and will soon be sent to the President.

The bill preempts state action to regulate a chemical while the EPA is merely assessing its safety – a years-long process that will leave us all at risk. The bill also preempts state laws after the E.P.A. has issued a final regulation, preventing states from enacting additional protections. When it comes to health protections, the federal government should set a floor, not a ceiling.

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DEFEND THE CFPB

Tell your representative to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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