Defend the Consumer Bureau

Our Consumer Cop On the Financial Beat

You should be able to save, invest and manage your money without fear of being trapped, tricked or ripped off by the institutions you're trusting with your financial future. That’s why we need strong consumer protections on Wall Street.

The 2008 economic collapse made it even more clear that Americans need a watchdog agency devoted to creating and enforcing fair, clear and transparent rules to protect consumers in the financial marketplace. So in 2010, we helped create the Consumer Financial Protection Bureau (CFPB) to be our watchdog on Wall Street. But now, the Trump administration and Wall Street's allies in Congress are looking to weaken or eliminate the Consumer Bureau. We can't let that happen.

The CFPB Gets the Job Done

Despite the fact that the CFPB is not widely known, it's been a huge success for consumers, returning nearly $12 billion to more than 29 million people who were ripped off by companies that broke the law … in just six years. 

The CFPB holds big banks, debt collectors, and lenders accountable. Here are a few examples of some of the cases the CFPB has taken on to protect consumers: 

In 2015, the Department of Justice and 47 states joined the CFPB in a $216 million action against JP Morgan Chase Bank for illegal debt collection practices affecting more than half a million Americans.
When Wells Fargo employees were caught opening unauthorized debit and credit accounts using their customer's information, the CFPB fined Wells Fargo $100 million for fraud. 
The CFPB fined Equifax andTransUnion — two of the three largest credit reporting agencies — $5 million for selling inflated credit scores to consumers that were different from ones actually used by lenders, and returned $17 million to those consumers harmed by the deception.

In addition, the Consumer Bureau has helped level the financial playing field, educating veterans, senior citizens, new homeowners, college students, and low-income consumers on how to keep their finances secure. 

The Consumer Bureau's success should be earning it applause in Washington. The idea that consumers deserve protection against fraud and other misleading practices shouldn't be controversial.

Yet instead of cheering on the Consumer Bureau, the Trump administration and some members of Congress are pushing to weaken or even get rid of it. 

Senators: Keep our Watchdog on Wall Street

We can keep our consumer cop on the financial beat — but only if we can convince enough senators to stand up and defend the Consumer Bureau, and stop any bad bills that try to roll back or eliminate consumer protections.

Even with the Consumer Bureau on the job, many Americans are still at risk of reckless financial practices that threaten their homes, their retirement savings, and their overall well-being. That’s why we don’t simply need the Consumer Bureau to exist: We need to make it even better, by strengthening commonsense consumer protections, spreading the word about its success and potential, and defending it from constant attacks from Wall Street.   

In the wake of the Great Recession, we helped spearhead the creation of the Consumer Bureau. Now, we need your help to stand up for consumer protection once again, and defend the CFPB from those who would weaken or eliminate it.  

Check out our Reports about the CFPB

In the years since the Consumer Bureau was created, we've worked alongside Frontier Group to research and review the CFPB's Consumer Complaint Database to publish a series of reports documenting the problems consumers are facing in the financial marketplace, how the Consumer Bureau is helping to resolve these issues, and what steps should be taken to ensure consumers are protected. Click through to learn more about each of these reports: 

Medical Debt Malpractice
Big Banks, Big Overdraft Fees
Predatory Loans & Predatory Loan Complaints
Mortgages and Mortgage Complaints
Debt Collectors, Debt Complaints
Credit Cards, Consumer Complaints
Big Credit Bureaus, Big Mistakes

Private Loans, Public Complaints
Big Banks, Big Complaints

Issue updates

Marriott discloses second security breach in 16 months

Marriott, the world’s largest hotel chain in terms of guest rooms, disclosed Tuesday that up to 5.2 million customers were impacted by a security breach related to the company’s loyalty app.

> Keep Reading
News Release | U.S. PIRG Education Fund | COVID-19, Consumer Protection

33 attorneys general demand online marketplaces end coronavirus price gouging

A bipartisan group of attorneys general from 33 states, led by Pennsylvania Attorney General Josh Shapiro, are calling on the country’s top online marketplaces to crack down on price gouging amidst the novel coronavirus (COVID-19) outbreak. In a letter, the group urged the companies -- Amazon, Craigslist, eBay, Facebook and Walmart -- to quickly implement preventative measures on their platforms to ensure that consumers don’t get taken advantage of during this public health crisis.

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Coronavirus worry triggers most surgical mask, sanitizer prices to spike at least 50% on Amazon

As the Coronvirus outbreak became more widespread, the price of most of the sanitizers and masks rose at least 50 percent higher than the 90-day average. Even one in six products sold directly by Amazon saw prices rise at least 50 percent higher in February

> Keep Reading
Blog Post | Financial Reform

CFPB's First Director, Rich Cordray, Publishes "Watchdog" | Ed Mierzwinski

The CFPB's first director, Rich Cordray, has published a book, "Watchdog," explaining efforts to set up and run the Consumer Financial Protection Bureau. I recommend reading the book! The new agency was established as part of the Wall Street Reform and Consumer Protection Act of 2010, enacted after light regulation of reckless Wall Street bank practices led to the financial collapse of 2008 and the ensuing Great Recession. Under Cordray's tenure, the CFPB returned over $12 Billion to over 31 million consumers harmed by big banks, payday lenders, for-profit schools, debt collectors and credit bureaus. 

> Keep Reading

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Marriott discloses second security breach in 16 months

Marriott, the world’s largest hotel chain in terms of guest rooms, disclosed Tuesday that up to 5.2 million customers were impacted by a security breach related to the company’s loyalty app.

> Keep Reading
News Release | U.S. PIRG Education Fund | COVID-19, Consumer Protection

33 attorneys general demand online marketplaces end coronavirus price gouging

A bipartisan group of attorneys general from 33 states, led by Pennsylvania Attorney General Josh Shapiro, are calling on the country’s top online marketplaces to crack down on price gouging amidst the novel coronavirus (COVID-19) outbreak. In a letter, the group urged the companies -- Amazon, Craigslist, eBay, Facebook and Walmart -- to quickly implement preventative measures on their platforms to ensure that consumers don’t get taken advantage of during this public health crisis.

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Coronavirus worry triggers most surgical mask, sanitizer prices to spike at least 50% on Amazon

As the Coronvirus outbreak became more widespread, the price of most of the sanitizers and masks rose at least 50 percent higher than the 90-day average. Even one in six products sold directly by Amazon saw prices rise at least 50 percent higher in February

> Keep Reading
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.

> Keep Reading

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30 years of toy safety

For the past thirty years, our sister organization U.S. PIRG Education Fund has taken a close look at the safety of toys sold in stores. Their reports have led to more than 150 regulatory actions. In November 2015, they released our 30th annual Trouble in Toyland report.

> Keep Reading

Reforming Wall Street

U.S. PIRG’s campaign to win historic Wall Street Reform was recognized by The Hill newspaper as one of the Top 10 lobbying victories of 2010, which wrote that, “[c]onsumer advocacy groups like the U.S. Public Interest Research Group and the Consumer Federation of America won big with the creation of the Consumer Financial Protection Agency.” In addition, we worked to ensure the confirmation of Richard Cordray as director of the CFPB, ensuring that the new agency had the power to carry out its mission.

> Keep Reading

Protecting Consumers from Credit Company Abuses

Credit card companies seeking even higher profits have invented a slew of unfair practices. U.S. PIRG played a crucial role in passing the Credit Card Accountability, Responsibility and Disclosure (CARD) Act, which protects consumers and reins in the credit card companies' most abusive fees and practices.

> Keep Reading
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.

> Keep Reading
Report | Environment America Research & Policy Center and U.S. PIRG Education Fund | Consumer Protection

Electric Buildings

To prevent air and water pollution and the worst impacts of global warming, America must move toward meeting its energy needs with 100 percent renewable energy. Getting there will require that we get the most out of every bit of energy we use – and that we end the burning of fossil fuels in our homes and commercial buildings.

> Keep Reading
Report | U.S. PIRG Education Fund and Consumers for Auto Reliability And Safety (CARS) Foundation | Consumer Protection

Unsafe used cars for sale

AutoNation, which bills itself as “America’s Largest Auto Retailer,” is selling recalled used vehicles that contain dangerous safety defects. In a survey of over 2,400 used vehicles for sale at 28 AutoNation locations, 1 in 9 were found to have unrepaired safety recalls.

> Keep Reading
Report | U.S.PIRG Education Fund and Kids In Danger | Consumer Protection

Recalled Infant Sleepers

Every day, millions of kids are dropped off at child care facilities across the country by parents and caretakers who are looking forward to seeing them safe and sound at the end of the day. But new research found some dangerous recalled products are still in use at child care facilities across the country.

> Keep Reading
Report | U.S. PIRG | Consumer Protection

You're Not Alone

While the Consumer Financial Protection Bureau’s new director entertains removing its consumer complaint database from public view, that website feature is proving its worth. The CFPB published a record 257,000 consumer complaints in 2018, according to a new report by U.S. PIRG Education Fund.

> Keep Reading

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Blog Post | Financial Reform

CFPB's First Director, Rich Cordray, Publishes "Watchdog" | Ed Mierzwinski

The CFPB's first director, Rich Cordray, has published a book, "Watchdog," explaining efforts to set up and run the Consumer Financial Protection Bureau. I recommend reading the book! The new agency was established as part of the Wall Street Reform and Consumer Protection Act of 2010, enacted after light regulation of reckless Wall Street bank practices led to the financial collapse of 2008 and the ensuing Great Recession. Under Cordray's tenure, the CFPB returned over $12 Billion to over 31 million consumers harmed by big banks, payday lenders, for-profit schools, debt collectors and credit bureaus. 

> Keep Reading
Blog Post | Consumer Tips, Public Health, Consumer Protection

Small toys, big hazard

When I got pregnant with my second kid, I was excited and nervous to have a new baby in the house.

> Keep Reading
Blog Post | Financial Reform

Half of CFPB Complaints in 2019 About Credit Reports As House Brings Reforms To Floor | Ed Mierzwinski

On Wednesday, the full U.S. House is expected to vote on a credit reporting reform package, HR 3621, the Comprehensive CREDIT Act. Meanwhile, a PIRG analysis finds that half of all complaints to the CFPB in 2019 concerned credit reporting and the most-complained about companies, in the entire database, were the so-called  Big 3 credit bureaus.

> Keep Reading
Blog Post | Financial Reform

U.S. PIRG and Leading Groups Support Findings of Norwegian Privacy Report | Ed Mierzwinski

In support of a report by colleagues from the Norwegian Consumer Council on whether the data sharing and privacy practices of a number of dating and other smartphone apps were in compliance with European privacy rules (GDPR) or the new California Consumer Privacy Act (CCPA), U.S. PIRG and other leading groups sent joint letters to key policymakers, including the California, Oregon and TexaS Attorneys General, the Federal Trade Commission and all members of the U.S. House and Senate. 

> Keep Reading
Blog Post | Financial Reform

CFPB Appoints Task "Farce" On Consumer Law | Ed Mierzwinski

Last week, CFPB Director Kathy Kraninger appointed four lawyers and professors to a "Taskforce on Federal Consumer Law." To my knowledge, none have worked for consumer protection organizations yet all have worked as industry consultants or been aligned with industry views, although all have previous government experience. I am aware of several distinguished professors with CFPB experience who were rejected. Incredibly, the announcement of this better-described "Task Farce" claimed inspiration from a distinguished bi-partisan commission established by the Consumer Credit Protection Act in 1968." 

> Keep Reading

Pages

Blog Post | Consumer Protection

In the wake of the Capital One data breach, Ed Mierzwinski and Adam Garber explain how to protect your credit

Were you affected by the Capital One breach, one of the largest thefts of data from any bank to date?

> Keep Reading
Blog Post | Consumer Protection

State PIRGs go to Washington for Consumer Lobby Day

Members of Congress hear repeatedly from lobbyists for corporate special interests in their offices and at fundraisers. How can consumer advocates balance the scales?

> Keep Reading
Blog Post | Consumer Protection

Congressional testimony underscores how predatory auto loans are driving Americans into debt

In most of the country, owning a car is all but required. And we're paying for it—to the tune of $1.2 trillion. This is putting the financial well-being of millions of Americans at risk, and U.S. PIRG and our national network are calling for change.

> Keep Reading
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.

> Keep Reading
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.

> Keep Reading
News Release | U.S. PIRG

Marriott, the world’s largest hotel chain in terms of guest rooms, disclosed Tuesday that up to 5.2 million customers were impacted by a security breach related to the company’s loyalty app.

News Release | U.S. PIRG Education Fund

A bipartisan group of attorneys general from 33 states, led by Pennsylvania Attorney General Josh Shapiro, are calling on the country’s top online marketplaces to crack down on price gouging amidst the novel coronavirus (COVID-19) outbreak. In a letter, the group urged the companies -- Amazon, Craigslist, eBay, Facebook and Walmart -- to quickly implement preventative measures on their platforms to ensure that consumers don’t get taken advantage of during this public health crisis.

News Release | U.S. PIRG Education Fund

As the Coronvirus outbreak became more widespread, the price of most of the sanitizers and masks rose at least 50 percent higher than the 90-day average. Even one in six products sold directly by Amazon saw prices rise at least 50 percent higher in February

Blog Post

The CFPB's first director, Rich Cordray, has published a book, "Watchdog," explaining efforts to set up and run the Consumer Financial Protection Bureau. I recommend reading the book! The new agency was established as part of the Wall Street Reform and Consumer Protection Act of 2010, enacted after light regulation of reckless Wall Street bank practices led to the financial collapse of 2008 and the ensuing Great Recession. Under Cordray's tenure, the CFPB returned over $12 Billion to over 31 million consumers harmed by big banks, payday lenders, for-profit schools, debt collectors and credit bureaus. 

Consumer Protection

Food recall failure

Most grocery store chains are not warning their customers about dangerous food recalls. Find out if your store makes the grade.

 

Consumer Protection

More than 165,000 life-threatening infant sleepers recalled

The U.S. Consumer Product Safety Commission (CPSC) announced on Jan. 29 that four companies have issued recalls for more than 165,000 inclined infant sleepers, which fail to meet the safe sleep guidelines recommended by the American Academy of Pediatrics. The CPSC's recall is an important step forward — we're continuing to urge manufacturers to stop producing these sleepers for good.

 

Consumer Protection

How safe is our food?

From chicken with chunks of metal to romaine lettuce with E. coli, our new report shows contaminated food continues to threaten the health of millions of Americans.

 

Consumer Protection

New federal bill will make it easier for consumers to know about unsafe, even deadly products

If you had a product in your home that the government knew could cause injury or death, you'd expect the government to warn you, right? Surprisingly, that's not the case for the Consumer Product Safety Commission. The "Safety Hazard and Recall Efficiency Information Act" seeks to change that.

 
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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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