Consumer Protections on Wall Street

You should be able to save, invest and generally manage your money without fear of being trapped, tricked or ripped off by the institutions you are trusting with your financial future.

It's not just about any one individual being protected in the financial marketplace. The fact is, without clear rules and accountability, financial markets don’t work the way they should. Hundreds of thousands of people can get ripped off, unhealthy risk-taking by big banks can become the norm, and the stability of the whole market can be put in jeopardy. And the 2008 economic collapse made it clear just how big of an impact those conditions can have on our lives, and financial security.

That’s why U.S. PIRG is working toward a system that provides basic fairness to all financial consumers, offers a more level playing field for all financial players, holds any institution that breaks the law accountable, and ensures strong protections for the most vulnerable consumers.

Our Priorities

Defend the Consumer Bureau

The Consumer Financial Protection Bureau is our watchdog on Wall Street, but now some in Washington are trying to weaken or eliminate the Consumer Bureau. Stand with us and make sure we keep our consumer cop on the financial beat.

Keep Retirement Advisors in Check

Right now, retirement advisers can push their clients toward investments with higher fees or lower returns, just because the adviser might get a bigger payout from it. We’re working to require retirement advisers to act in their clients’ best interests.

Stop Predatory Payday Lending

Sky-high interest rates and fees on payday loans can send borrowers into a debt trap. It's time to bring an end to the payday loan industry's unfair and abusive practices, and stop the debt trap once and for all.

Protecting Student Borrowers

It's hard enough for many borrowers to simply pay off their student loans — they shouldn't also have to worry about their loan servicer making it more difficult and expensive for them to do that. We're working to hold those lenders accountable.

Issue updates

News Release | U.S. PIRG Education Fund | Consumer Protection

Trader Joe's jumps to top of food recall notification rankings

Following the release last month of U.S. PIRG’s Education Fund’s Food Recall Failure report, which rated 26 top grocery store chains on their transparency about food recalls, Trader Joe's provided new survey answers and clarified where that information lives online and in its stores.

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Report | U.S. PIRG Education Fund | Consumer Protection, Food

Food Recall Failure

Our research found the majority of grocery stores fail to warn the public about hazardous food recalls. While they collect significant information about Americans shopping habits to sell us more food, they aren't doing enough to use that information to protect the public health.

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News Release | U.S. PIRG Education Fund | Consumer Protection, Food

New investigation: Supermarkets failing to warn public about food recalls

Americans are not hearing about food recalls, and that communication breakdown is having serious repercussions for public health. A new report finds that most grocery stores -- which should be one of the best places to learn about recalls -- don’t make it easy for consumers to uncover this information.

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News Release | U.S. PIRG | Consumer Protection

Hack doesn’t absolve Equifax of being careless with consumers’ data

Congress must hold companies accountable for failing to protect condumers' confidential information.

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News Release | U.S. PIRG | Consumer Protection

New investigation reveals need for long-delayed car seat safety standards

An investigation into EvenFlo's booster seat safety testing for side-impact collisions has emphasized the need for stronger car seat safety regulations.

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News Release | U.S. PIRG | Consumer Protection

New investigation reveals need for long-delayed car seat safety standards

An investigation into EvenFlo's booster seat safety testing for side-impact collisions has emphasized the need for stronger car seat safety regulations.

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News Release | U.S. PIRG | Consumer Tips, Consumer Protection

Statement: U.S. House passes landmark bill to clean up credit bureau mistakes

The U.S. House of Representatives today passed the Comprehensive CREDIT (Credit Reporting Enhancement, Disclosure, Innovation, and Transparency) Act of 2020 (HR3621).

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News Release | U.S. PIRG Education Fund | Consumer Tips, Public Health, Consumer Protection

Recalls announced for more than 165,000 life-threatening infant sleepers

The U.S. Consumer Product Safety Commission (CPSC) announced today that four companies have issued recalls for their inclined infant sleepers.

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News Release | U.S. PIRG | Consumer Protection

Today is the last day to file a claim against Equifax

Today is the final day that the 147 million consumer-victims of the massive Equifax data breach can file a claim against the credit bureau to get compensation of “up to” $125 each. However, so many consumers have already filed claims that when the compensation fund is divided, victims probably won’t get very much cash. 

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News Release | U.S. PIRG Education Fund | Consumer Protection

U.S. PIRG Education Fund files amicus brief in Consumer Financial Protection Bureau case before Supreme Court

Ahead of a U.S. Supreme Court oral argument scheduled for March 3, 2020, U.S. PIRG Education Fund and several other consumer advocacy groups filed an amicus brief today in Seila Law LLC v. Consumer Financial Protection Bureau. The brief argues that long-established principles and Supreme Court precedent support the constitutionality of the CFPB’s leadership structure. The brief also highlights that Congress purposefully created an independent bureau focused on consumer financial protection to avoid a repeat of the 2008 financial crisis.

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Report | U.S. PIRG Education Fund & Frontier Group | Consumer Protection

Older Consumers in the Financial Marketplace

Older consumers are at risk of harm from predatory financial behavior. An analysis of more than 72,000 financial complaints submitted by older consumers (those 62 years of age and older) to the Consumer Financial Protection Bureau (CFPB, or Consumer Bureau) and contained in its Consumer Complaint Database suggests that mistreatment of older consumers by financial companies is widespread.

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Guidance for Utilities Commissions on Time of Use Rates

As rapidly evolving renewable and energy efficiency technologies and economics drive ongoing transformation of America’s power sector, advocates from consumer, clean energy and environmental organizations are working together to provide guidance for utilities commissions and other stakeholders grappling with issues of electricity rate design.

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Protecting Those Who Serve

This report, the tenth in our series on the CFPB's Public Consumer Complaint Database, is called "Protecting Those Who Serve." It is an analysis of more than 44,000 consumer complaints from active-duty servicemembers, veterans and their families. The report also explains the work the CFPB and its Office of Servicemember Affairs does to protect military families in the financial marketplace. Debt problems also are a leading cause of revoking secuirty clearances, which affects military preparedness.

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Report | U.S. PIRG EDUCATION FUND | Consumer Protection

Trouble In Toyland 2016

For more than 30 years, U.S. PIRG Education Fund has conducted an annual survey of toy safety. These reports have led to more than 150 recalls and other regulatory actions over the years, and have helped educate the public and policymakers on the need for continued action to protect the health and wellbeing of children.

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Report | U.S. PIRG & the Breast Cancer Fund | Consumer Protection

Pretty Scary 2: Unmasking Toxic Chemicals in Kids’ Makeup (A Breast Cancer Fund Report)

Findings from the new Breast Cancer Fund report published today and co-released by U.S. Public Interest Research Group (PIRG) show potentially harmful chemicals could be in the products marketed to your kids.

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Blog Post | Consumer Protection

U.S. PIRG Consumer Campaign Director Testifies at Congressional Hearing on Data Security | Mike Litt

U.S. PIRG's Consumer Campaign Director, Mike Litt, was invited to testify at a Congressional hearing yesterday about improving data security at the credit bureaus. Here are his opening remarks. 

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Blog Post | Public Health, Consumer Protection

How safe is our food? Not safe enough, says PIRG Consumer Watchdog team, and it's trending in the wrong direction

Unsafe food recalls in the U.S. are trending the wrong way. From 2013 to 2017, they rose 10 percent overall, and a whopping 83 percent for the most hazardous meat and poultry recalls.

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Blog Post | Consumer Protection

Update to How You Can Change Your Experian Credit Freeze PIN | Mike Litt

Our consumer campaign director provides an update to how you can change your Experian credit freeze PIN after a security flaw was discovered two weeks ago.

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Blog Post | Consumer Protection

1 Year After Equifax Data Breach, Here's Everything You Need To Know

One year after announcing the biggest data breach in history, Equifax still hasn’t been held accountable or provided the information and tools consumers need to protect themselves. Since Equifax won’t help protect consumers, U.S. PIRG is stepping in.

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Blog Post | Public Health, Consumer Protection

Ten year anniversary of safer school supplies: Happy Birthday, CPSIA! | Kara Cook-Schultz

Landmark consumer legislation has had a monumental effect on protecting kids’ health.

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Blog Post

Johnson & Johnson will end the sale of talc-based baby powders--which can be contaminated with asbestos--in the United States and Canada. That’s a big win for consumers, but it’s not enough.

News Release | U.S. PIRG

As the House considers the next coronavirus funding bill, the Heroes Act, an analysis by U.S. PIRG of recent complaints to the U.S. Consumer Financial Protection Bureau (CFPB) shows an alarming need for Congressional action to protect consumers from the pandemic’s repercussions.

News Release | U.S. PIRG

Consumer Reports, U.S. PIRG and a consumer-turned-activist delivered nearly 250,000 petition signatures today to the airlines calling on them to provide full refunds when passengers cancel their flights because of concerns about the coronavirus.

Blog Post

If you’re like me, you’re spending a lot more time cleaning while sheltering in place. My increased time at home cooking, working, and playing with my children makes a lot of mess! I am also cleaning more as a way to reduce the risk of exposure to COVID-19. I enjoy my cleaning routine; in a day full of zoom calls and wrangling small children, it’s nice to take a break to listen to the radio or music while I wipe down the counters or sweep the floor. 

News Release | U.S. PIRG Education Fund

The Small Business Administration (SBA) announced Tuesday that the personal information of nearly 8,000 business owners applying for federal disaster loans had been exposed. The breach affects applicants to the Economic Injury Disaster Loan program (EIDL), and may have included names, Social Security numbers, addresses, birth dates, email addresses, phone numbers, citizenship statuses and insurance information.

Consumer Protection

Record volume of CFPB complaints encapsulates why Americans need greater financial protection

A U.S. PIRG report finds that complaints filed with the Consumer Financial Protection Bureau reached record numbers in April. Credit reporting complaints, which historically top the list, increased by more than 20,000.

 

Consumer Protection

Rich Cordray offers expert consumer tips with U.S. PIRG advocates via Zoom

During an online panel organized by U.S. PIRG, former CFPB Director Rich Cordray warned that this difficult time will likely last longer than most believe, and that consumers need protections such as mortgage relief and a halt on evictions for nonpayment of rent in order to weather it.

 

Consumer Protection

Suppliers are gouging health care providers. 100-plus mayors are calling for federal action.

More than 100 mayors and county executives joined U.S. PIRG in sending a letter to the Trump administration urging the federal government to invoke the Defense Production Act to increase production of critical medical supplies, and to establish a system to distribute those supplies to front line workers.

 

Consumer Protection

Data breach may have exposed personal data of 5.2 million Marriott guests

On March 31, Marriott disclosed its second data breach in 16 months, this time related to its loyalty app. The hack exposed the personal data of 5.2 million guests, putting them at risk of phishing schemes.

 
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DEFEND THE CFPB

Tell your representative to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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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.

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