News Releases

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.

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

First Step to Avoid the Fiscal Cliff: Close Offshore Tax Loopholes

With Congress scrambling to agree on ways to reduce the deficit, U.S. PIRG released a new analysis pointing out a clear first step to avoid the “fiscal cliff”: closing offshore tax loopholes. Many of America’s largest corporations and wealthiest individuals use accounting gimmicks to shift profits made in America to offshore tax havens, where they pay little to no taxes. This tax avoidance costs the federal government an estimated $150 billion in tax revenue each year.  U.S. PIRG’s new data illustrates the size of this loss with 16 dramatic ways $150 billion could be spent.

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

When Schapiro Steps Down, SEC Should Step Up on Political Spending Disclosure

As Chairwoman Mary Schapiro ends her term at the Securities and Exchange Commission, U.S. PIRG urges President Obama to appoint a chairperson who will prioritize rulemaking that would bring post-Citizens United “dark money” corporate political spending into the light.

News Release | U.S. PIRG Education Fund | Public Health

Survey Finds Dangerous Toys on Store Shelves

Dangerous or toxic toys can still be found on America’s store shelves, according to U.S. Public Interest Research Group’s 27th annual Trouble in Toyland report. It reveals the results of laboratory testing on toys for lead, cadmium and phthalates, all of which have been proven to have serious adverse health impacts on the development of young children. The survey also found small toys that pose a choking hazard, extremely loud toys that threaten children’s hearing, and toy magnets that can cause serious injury.

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

New Survey Shows Free Checking Widely Available At Small Banks But Banks Still Hiding Fees from Consumers

A survey of hundreds of banks and credit unions in 24 states and the District of Columbia found that free checking remains available at more than 6 out of 10 small banks and credit unions but was only found at one-quarter of surveyed big banks (those with over $10 billion in deposits). The survey released today by the U.S. Public Interest Research Group also revealed that fewer than half of branches surveyed obeyed their legal duty to fully disclose fees to prospective customers on the first request, while 12% provided no fee information at all.

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