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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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Wall Street Journal: Consumer Watchdog Readies to Bare Its Teeth

The Consumer Financial Protection Bureau is entering 2013 poised to flex its muscles more vigorously than ever before. [...] The CFPB is "going to be more confident and more aggressive," said Ed Mierzwinski, consumer program director for U.S. Public Interest Research Group, a consumer-advocacy organization.

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Media Hit | Budget, Tax

Washington Post: Government doing more to prevent corporations from deducting settlements

Federal agencies are taking greater steps to prevent companies from claiming tax deductions on settlements reached with the government, though loopholes in the tax code persist, according to a new study by U.S. Public Interest Research Group.

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News Release | U.S. PIRG | Tax

Does UBS Settlement Include $245 Million “Hidden Bank Fee” for Taxpayers?

The following is a statement of Ryan Pierannunzi, Tax and Budget Associate with U.S. PIRG, on the settlement announced today  between UBS and government regulators over the Libor scandal in which UBS and other financial institutions are accused of unlawfully tampering with interest rates. Along with agreeing to this settlement, UBS admitted to charges of fraud. The total settlement amount is $1.5 billion, of which $1.2 billion will be paid to U.S. agencies.

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News Release | U.S. PIRG | Tax

UBS Libor Scandal: Should Taxpayers Have to Pay for Bank Wrongdoing?

The following is a statement of Ryan Pierannunzi, Tax and Budget Associate with U.S. PIRG, on the anticipated upcoming settlement between UBS and government regulators over the Libor scandal in which UBS and other financial institutions are accused of unlawfully tampering with interest rates.

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Media Hit | Higher Ed

CNN: Consumer Bureau: Now, It Can Do Something

Rich Williams, a higher education advocate for U.S. Public Interest Research Groups (PIRG) said he's looking forward to the consumer bureau's work with student loans, as well as credit cards and debit cards issued on campus. With a director, the bureau can now set rules of the road for all providers of student loans, not just those issued by banks.

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News Release | U.S. PIRG | Financial Reform

U.S. PIRG Applauds President For “Bold and Important” Recess Appointment of Richard Cordray To Head New Consumer Financial Protection Bureau (CFPB)

President Obama is taking a bold and important step to protect consumers from financial tricks and traps by announcing a recess appointment of his well-qualified nominee, Richard Cordray, to head the new Consumer Financial Protection Bureau.

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Media Hit | Financial Reform

LA Times: Richard Cordray Appointment 'Turns Lights On' at Consumer Bureau

"Congress wanted the bureau to protect consumers no matter where they shopped for financial products," said Ed Mierzwinski, consumer program director at the U.S. Public Interest Research Group. "With a director, the public can now have confidence the consumer bureau is ready, willing and able to investigate their financial problems."

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News Release | U.S. PIRG | Higher Ed

New Consumer Finance Chief Can Lower Student Debt

President Obama is taking a bold step to protect student consumers from financial tricks and traps by announcing a recess appointment of his well-qualified nominee, Richard Cordray, to head the new Consumer Financial Protection Bureau.

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News Release | U.S. PIRG Education Fund | Financial Reform

New Report Highlights Reasons for New Consumer Protections

The report outlines predatory financial practices that hurt consumers and led to the collapse the economy, costing us eight million jobs, millions of foreclosed homes and trillions of dollars in lost home and retirement values.

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Priority Action

The overuse of antibiotics on factory farms is threatening the effectiveness of lifesaving antibiotics. Call on the Obama administration to put an end to the worst practices.

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