Financial Reform

Resource | Financial Reform

Supreme Court Brief of U.S. PIRG Education Fund in ATM Fee case

We've long been involved in fighting against unfair practices by Visa, Mastercard and the big banks that raise the "swipe fees" merchants pay to accept credit and debit cards or that deny entry by lower-cost ATM networks, all resulting in consumers paying more at the store, at the pump and at the ATM machine. Attached is our amicus (friend of the court) brief to the Supreme Court in support of consumers and ATM owners alleging a conspiracy by Visa, Mastercard and the big banks to charge independent ATM owners high fees to join the network, meaning consumers pay higher fees to use fewer available independent ATMs.

News Release | U.S. PIRG | Financial Reform

Consumers Should Demand Security Freezes After Massive Yahoo Breach

In the wake of the recently-announced Yahoo data breach -- apparently the largest security breach ever, exposing the personal information of 500 million consumers -- PIRG offers consumer tips, demands that Yahoo provide free security freezes to affected consumers who could be at risk of "phishing" schemes to commit fraud on existing accounts or open new fraudulent accounts.  We also ask: Why did it take Yahoo two years to notify the public?

In Closing the Hedge Fund Loophole, an Opportunity for Bipartisanship

By | Jeremy Flood
Tax & Budget Digital Campaigner

It’s no secret that neither Congress nor the leaders of the two major parties can agree on much these days. This is perhaps even more true on tax policy than any other issue. So, when there is bipartisan agreement on sensible tax reform, we should not only take notice, but seize the moment to get something done

News Release | U.S. PIRG | Financial Reform

Privacy, Consumer Groups Critical of Facial Recognition Report

We've joined leading privacy and consumer advocates in a news release sharply critical of a supposed "best-practices" report released today by the Telecommunications and Information Administration (NTIA) concerning privacy and facial recognition technology. While the report purports to be the product of a "multi-stakeholder" process, all the leading privacy and consumer stakeholders dropped out of the skewed proceedings many months ago, as the release explains. It concludes: "There is much more lacking in these “best practices,” but there is one good thing: this document helps to make the case for why we need to enact laws and regulations to protect our privacy."

Resource | Financial Reform

Testimony on Need for Strong Consumer Regulations

We've submitted a statement for the record as the Senate Banking Committee holds two important hearings this week, yesterday's hearing on "Assessing Consumer Regulations" and tomorrow's hearing on "Semi-Annual Report of the Consumer Financial Protection Bureau (CFPB)."  Our main message: Defend the CFPB and Defend Consumer Laws.

We oppose latest effort to weaken CFPB, other bank regulators

By | Ed Mierzwinski
Consumer Program Director

Today, the House Financial Services Committee holds its latest cattle-call markup of a package of industry-backed bills designed to weaken consumer, taxpayer, depositor and investor protections. We've signed a letter opposing the so-called TAILOR (Taking Account of Institutions with Low Operation Risk) Act, which piles redundant requirements onto the Consumer Financial Protection Bureau and other regulators to do what they already do by existing law--treat small banks and credit unions differently than mega-banks. Also, the PIRG-backed Americans for Financial Reform sent up a letter opposing the TAILOR Act and 6 more of the 10 bills on the agenda because they are designed to weaken consumer, taxpayer, depositor and investor protections.

Resource | Financial Reform

Letter Opposing House Effort To Hobble Bank Regulators

Today, the House Financial Services Committee holds a cattle-call markup of bills designed to  weaken consumer, taxpayer, depositor and investor protections. As it often does, it claims its efforts are on behalf of small banks and credit unions. But the goal of the Tailor Act is not really to help them, it is to weaken the broad authority regulators have to protect the public. Oh, and they are already required to "tailor" regulations for small or rural banks and credit unions. Download the letter from U.S. PIRG and other Americans for Financial Reform coalition members below.

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

More Than 100 Groups Insist on No Riders in Spending Legislation

The day before the White House is expected to release its fiscal year 2017 budget proposal, a coalition of more than 100 groups, including U.S. PIRG, sent a letter calling on President Barack Obama and all 535 members of Congress to oppose any federal appropriations bill that contains ideological policy riders.

100+ Groups Oppose Provisions That Threaten Public Protections

By | Mike Litt
Consumer Program Advocate

The White House is expected to release its fiscal year 2017 budget proposal tomorrow. U.S. PIRG and various state PIRGs joined a coalition of more than 100 groups that sent the following letter calling on President Barack Obama and all 535 members of Congress to oppose any federal appropriations bill that contains ideological policy riders. 

Today, the CFPB is holding a field hearing in Louisville on problems consumers face when opening bank accounts. It finds that big banks frequently offer consumers expensive accounts where they risk overdraft fees instead of affordable accounts. Further, the CFPB finds that the practices of specialty "bad check" credit bureaus make it harder to open accounts. The CFPB issued warnings to both the banks and credit bureaus while providing consumers with new tips and advice.

Pages

Subscribe to RSS - Financial Reform

Priority Action

We're teaming up with big restaurant chains to stop the overuse of antibiotics on factory farms. Call on KFC to stop selling meat raised on routine antibiotics.

Support Us

Your donation supports U.S. PIRG’s work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates and take action on critical issues.
Optional Member Code