Consumer Protection Updates

Media Hit | Financial Reform

Target Says 40 million credit, debt cards may have been compromised...

Hackers gained access to as many as 40 million credit and debit cards used by customers of Target during the height of the holiday shopping season, the company reported Thursday, in one of the biggest data breaches in history. [ALSO SEE LINK AT END OF CLIP TO U.S. PIRG NEWS RELEASE WITH CONSUMER TIPS.]

News Release | U.S. PIRG | Consumer Protection, Higher Ed

U.S. PIRG Applauds CFPB Call for Greater Disclosure

Washington, DC — Today, the Consumer Financial Protection Bureau (CFPB) called on financial institutions to publicly disclose all of their card agreements with colleges and universities. Currently, institutions only need to disclose agreements regarding credit cards, but not debit, checking, or prepaid cards.

Media Hit | Budget, Tax

Enriquez, Visco: Tax deduction benefits BP in blast settlement

Many companies deduct the cost of settlement payments for misdeeds like the Texas City disaster as an ordinary business expense.

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

Record-Breaking JPMorgan Settlement Contains Protections for Taxpayers

Now that the DOJ has protected taxpayers by addressing the tax deductibility of the penalties, U.S. PIRG is calling on the agency to be fully transparent as to why the remainder of the settlement is deductible.  If the remaining $11 billion is fully deducted, taxpayers deserve to know why they will end up picking up the tab for almost $4 billion in lost revenue.

Media Hit | Tax

JPMorgan pact draws fire

The $13 billion settlement with JPMorgan Chase is drawing some bipartisan fire in Congress where lawmakers say it could leave taxpayers on the hook.

News Release | U.S. PIRG | Tax

JPMorgan’s Tax-Deductible Settlement is Just the Tip of the Iceberg

The corporate practice of taking a tax deduction for settlement payments made to federal agencies is ubiquitous

Media Hit | Tax

Tax Breaks for Corporate Wrongdoing, Part 1: The FTC

The Federal Trade Commission should be set up to ensure that corporate wrongdoers don't get a tax break for their misdeeds.

News Release | U.S. PIRG | Consumer Protection, Financial Reform

CFPB Report Confirms 2009 Credit CARD Act Works to Protect Consumers

“Today’s CFPB report on the Credit CARD Act of 2009 confirms that the law has cleaned up the worst tricks and traps that riddled the credit card marketplace. Those traps saddled consumers with unfair penalty fees and high penalty interest rates, ultimately leading to massive and unsustainable credit card debt and even bankruptcies."

How To: Using the CFPB's Consumer Complaint Database

By | Laura Murray
Consumer Associate

Since June 2011, the Consumer Financial Protection Bureau (CFPB) has been getting results for consumers by allowing them to file complaints about a variety of financial products and services.  The complaint process has helped thousands of consumers settle disputes with their banks and lenders.  Many of these consumers obtain tangible relief through the process.

Feds solve problems for unhappy bank customers

Got a beef with your bank and you can't get it resolved?
Don't sit there steaming. Complain to the Consumer Financial Protection Bureau (CFPB), the federal government's new financial watchdog.

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