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Blog Post | Consumer Protection

On Veterans Day, How The CFPB Helps Veterans, and All of Us | Ed Mierzwinski

Columnist George Will recently (and not for the first time) urged Congress to “abolish the Consumer Financial Protection Bureau.” His reasons may seem to come from his conservative philosophy, but merely pander to the powerful Wall Street interests that left our economy in ruins just a few years ago. As a counterbalance, let’s discuss some recent speeches and statements by CFPB Director Richard Cordray on his vision for the bureau and some of its current work, including – on this Veteran’s Day – its efforts to protect military families from financial predators.

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News Release | U.S. PIRG | Tax

US regulators to strike forex settlement, but will they strike out tax deductions from the deal?

Federal agencies are preparing to settle with several big banks to resolve charges that they manipulated foreign currency exchange rates. Will those banks be allowed to write off the settlement payments as a tax deduction? If so, much of the costs of the payment will be shifted back onto taxpayers.

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News Release | U.S. PIRG | Tax

Statement from U.S. PIRG about agency attempts to toughen up bank settlements

Statement regarding indications some federal agencies may reopen old banking settlements, as reported in yesterday’s New York Times. The SEC is similarly reportedly delaying the final execution of August’s announced $16.65 billion settlement with Bank of America while deliberating about issuing waivers that would soften regulatory repercussions of the deal.

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Media Hit | Tax

Too Big to Tax: Settlements Are Tax Write-Offs for Banks

“When people hear that this stuff is deductible, it just feels like adding insult to injury,” says Phineas Baxandall, a senior policy analyst and tax specialist at U.S. PIRG, a left-leaning consumer protection research group that has written reports on the tax deductions. “And when it’s not transparent, it’s shady.”

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Blog Post | Budget, Tax

It's Not Over Yet | Jaimie Woo

There are 12 days left before the 2014 election, and campaign efforts have hardly let up. Last-minute donations are flooding in, canvassers are knocking on doors, and organizations are registering young people to vote.

But after November 4, Congress will reconvene, and their work will be far from over.

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News Release | U.S. PIRG | Tax

Taxpayers Win, as Justice Department Blocks Credit Suisse Tax Write Off

The Justice Department saved taxpayers $233 million by preventing Credit Suisse bank from writing off its settlement for tax evasion. U.S. PIRG applauds the move and calls on agencies to make this standard practic. Agencies should also be more transparent about the deals they sign with corporations to resolve charges of wrongdoing.

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News Release | U.S. PIRG | Budget, Tax

House Tax Writers Vote to Make Offshore Loopholes Permanent

House tax writers voted to renew and making permanent two expired offshore tax loopholes, forcing average taxpayers and small business owners to pick up the tab for tax dodging by many multinationals for years to come. For all of the talk in Washington about getting our fiscal house in order, the Committee did not consider how to pay for these expensive tax breaks.

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News Release | U.S. PIRG Education Fund | Tax

Poll: Public Wants Federal Agencies to Disclose and Restrict Corporate Tax Write Offs for Out-of-Court Settlements

A new poll shows that Americans want federal agencies to better disclose information about out-of-court settlements with corporations and to restrict companies from writing off these payments as tax deductions.

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News Release | U.S. PIRG | Tax

Offshore Tax Havens Cost Average Taxpayer $1,259 a Year, Small Businesses $3,923

Calculating how much federal and state taxes average tax filers and small businesses would pay to pick up the tab for the billions of revenue lost as a result of offshore tax havens.

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

Report: Spirit Is Most Complained-About Airline

WASHINGTON – Spirit Airlines passengers are most likely to complain about their experience, according to a report released today by the U.S. PIRG Education Fund. Among major airlines, Spirit generates the most complaints for its size and generates an increasing number of complaints each year. Other most-complained about firms include Frontier Airlines, United Airlines, and American Airlines.

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Report | U.S. PIRG Education Fund | Tax

Tax Shell Game: How Much Did Offshore Tax Havens Cost You In 2010?

Tax havens are countries with minimal or no taxes, to which U.S.-based multinational firms or individuals transfer their earnings to avoid paying taxes in the United States. Users of tax havens benefit from access to America’s markets, workforce, infrastructure and security, but pay little or nothing for it—violating the basic fairness of the tax system.

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Report | U.S. PIRG Education Fund | Financial Reform

Big Banks, Bigger Fees

Over the last six months, PIRG staff conducted inquiries at 392 bank branches in 21 states and reviewed bank fees online in 12 others.

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Report | U.S. PIRG Education Fund | Public Health

Growing Up Toxic

In this report, we tell the story of the insidious impact of toxic chemicals, from the plastic ingredient bisphenol A to pesticides, drawing on evidence from more than 200 peer-reviewed scientific papers.

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Report | U.S. PIRG Education Fund | Safe Energy

Unacceptable Risk

American nuclear power plants are not immune to the types of natural disasters, mechanical failures, human errors, and losses of critical electric power supplies that have characterized major nuclear accidents such as the one at Fukushima Daiichi power plant in Japan. Indeed, at several points over the last 20 years, American nuclear power plants have experienced “close calls” that could have led to damage to the reactor core and the subsequent release of large amounts of radiation.

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Report | U.S. PIRG Education Fund | Budget

Following the Money 2011

This report is our second annual ranking of states’ progress toward “Transparency 2.0” – a new standard of comprehensive, one-stop, one-click budget accountability and accessibility.

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Blog Post | Financial Reform

New book on the fight for the CFPB | Ed Mierzwinski

Two academics have published a book chronicling the PIRG-backed fight to establish the Consumer Financial Protection Bureau (CFPB) as a centerpiece of the Wall Street reforms enacted in 2010. Their history of the largely successful efforts of the coalition Americans for Financial Reform and its work alongside Professor Elizabeth Warren has lessons for all advocates seeking to fight city hall or evil empires.

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Blog Post | Democracy

Wisconsin Bill Would Double Campaign Contribution Limits, Increase Big Money in Politics

Wisconsin is the latest state to consider raising contribution limits in a trend that ignores the real problems of our current campaign finance system.

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Blog Post | Democracy

Supreme Court Strikes Down Arizona Law, Protects the Right to Vote

This week, the Supreme Court strengthened our democracy by striking down a burdensome Arizona law that required physical proof of citizenship for voter registration.

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Blog Post | Democracy

Illinois and Delaware 14th and 15th States to Support Constitutional Amendment to Get Big Money Out of Elections

With the votes, Illinois and Delaware joined a steadily growing list, including 13 other states and nearly 500 municipalities, calling for an amendment to overturn the Supreme Court’s decision to equate money as speech and corporations as people.

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Blog Post | Democracy

House Needs to Enhance, Not Eliminate, Programs That Make Elections Work for People

The House Administration Committee is considering legislation this week that would repeal the presidential public financing system and the financing system for conventions, and close the Election Assistance Commission. If passed, these bills would pose a significant threat to the integrity of our campaign finance and election systems.

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Priority Action

The overuse of antibiotics on factory farms is threatening these lifesaving medicines. Call on big restaurants to do their part and stop buying meat raised with critical antibiotics.

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