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Media Hit | Tax

Obama didn't put up 'much of a fight' to keep Holder

"Holder faced criticism from consumer advocates, too. He was accused of failing to prosecute bankers responsible for the mortgage meltdown in 2008 — and when he reached civil settlements with major Wall Street institutions, he often allowed them to write off the judgments as business expenses, said Michelle Surka of the U.S. Public Interest Research Group."

With Apple Pay, the tech leader takes its shot at replacing the wallet

We comment in a Washington Post story describing Apple's big product announcements Tuesday. We don't talk about the two new iPhones or even the totally new and much ballyhooed Apple Watch. We talk about Apple Pay, a digital wallet. What are its implications for consumer data security, convenience and choice?

Excerpt: Yet Apple Pay could prove the bigger bet, given its potential to shake up two industries — retail and finance. [...] “Apple’s claiming it’s more secure. We’ll have to see,” said Ed Mierzwinski, consumer program director at U.S. Public Interest Research Group.

Media Hit | Tax

Bank of America’s $16 Billion Mortgage Settlement Less Painful Than It Looks

“The American public is expecting the Justice Department to hold the banks accountable for its misdeeds in the mortgage meltdown,” said Phineas Baxandall, an analyst with the U.S. Public Interest Research Group, a consumer advocacy organization. “But these tax write-offs shift the burden back onto taxpayers and send the wrong message by treating parts of the settlement as an ordinary business expense.”

Media Hit | Tax

Charlotte Observer top article features settlement loophole

Feature article quotes U.S. PIRG to discuss how banking giant may leave taxpayers with part of the bill for their mortgage abuses.

Media Hit | Financial Reform

National data-theft law still a hard sell

The data breach at Target Corp., which exposed millions of credit card numbers, has focused attention on the patchwork of state consumer notification laws and renewed a push for a single national standard. [...] ‘‘From industry’s perspective, whether you’re a bank or a merchant, you don’t want to have to notify consumers,’’ said Ed Mierzwinski, at the US Public Interest Research Group. ‘‘They want to preempt, or override, the best state laws.’’

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