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

Blog Post | Consumer Protection

AutoNation: Stop selling recalled used cars, don’t spam | Adam Garber

When our new report revealed every single one of the 28 AutoNation dealerships we surveyed across the country was selling a recalled car with a dangerous safety defect you’d hope their response would be: “we’re on it.” It wasn't.

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

Investigation finds 1 in 9 used cars for sale at AutoNation have unrepaired safety recalls

AutoNation, America’s largest auto retailer, is selling used vehicles with unrepaired safety recalls including explosive Takata airbags, faulty GM ignition switches and defects with no fix available.

> Keep Reading
Blog Post | Financial Reform

Questions Congress Should Ask CFPB Director Next Week | Ed Mierzwinski

CFPB Director Kathy Kraninger will deliver the statutory “Semi-Annual Report of the CFPB” to the House Financial Services (10/16) and Senate Banking (10/17) Committees next week. Here are some helpful questions for committee members to ask.

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

New analysis uncovers unsafe blood pressure medication distributed in US

A new analysis of publicly available information from the FDA by U.S. Public Interest Research Group Education Fund finds only 26 percent of a class of recalled blood pressure medications have been assessed for carcinogen contamiantion -- and the majority had some lots with higher levels than the FDA considers safe.

> Keep Reading

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

College students can save hundreds as they head back to school

College is expensive, requiring many students to take out significant loans to afford an education. On top of that, students have to deal with the additional costs of textbooks, computers and other critical supplies. As students head back to school -- or to school for the first time -- U.S. PIRG Education Fund is releasing a money-saving guide to help them cut those additional costs.

> Keep Reading
News Release | U.S. PIRG Education Fund & Kids in Danger | Consumer Protection

1 in 10 surveyed daycares still using deadly, recalled infant sleepers

Three months after nearly 5.4 million infant sleepers were recalled for causing 36 infant deaths, a new survey by the U.S. Public Interest Research Group Education (U.S. PIRG) and Kids in Danger (KID) revealed that many child care facilities continue to use these dangerous inclined sleepers.

> Keep Reading
News Release | U.S. PIRG | Consumer Tips, Consumer Protection

Largest bank hack ever, of Capital One, exposes 100 million to identity theft

Everyone should assume that their social security number has been exposed between this breach and breaches of other major companies’ databases, such as Equifax’s. With that in mind, U.S. PIRG recommends all Americans should use their right by law to freeze their credit reports for free

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

Equifax penalty is a “sweetheart deal” that leaves consumers at risk

Our response to Equifax paying a $650 million penalty for exposing the social security numbers of 148 million Americans to identity theft.

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

CVS-Aetna merger will increase prescription drug costs for many

CVS-Aetna lawyers, consumer advocates and health care organizations gathered in Washington for oral arguments on whether the Department of Justice’s proposed final judgment in the CVS-Aetna matter is in the public interest. 

> Keep Reading

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Report | U.S. PIRG Education Fund | Financial Reform

Medical Debt Malpractice

Millions of Americans are contacted by debt collectors every year over debt related to medical expenses. "Medical Debt Malpractice" is the latest (9th) in our series based on analysis of complaints in the Consumer Financial Protection Bureau's public complaint database. The report demonstrates that the CFPB is a critical agency protecting consumers against unfair financial practices and needs to be defended against special interest attacks.

> Keep Reading
Report | U.S. PIRG | Financial Reform

Student, Education, and Consumer Groups Defend CFPB To Congress

On February 13, nearly 60 local, state and national student advocacy, professional, consumer, educational, faith and other organizations sent a letter to Congressional leaders expressing "strong support for the crucial work the Consumer Financial Protection Bureau (CFPB) does on behalf of student loan borrowers." The "borrower-focused" letter also urged Congress "to ensure the agency remains well-positioned to solve borrowers’ problems, which includes protecting the Bureau’s single-Director structure and its independent funding, and maintaining Director Richard Cordray until his term ends."

> Keep Reading
Report | U.S. PIRG | Financial Reform

PIRG, Consumer Advocates Join Fight to Protect CFPB in Court

Here is a copy of the motion filed today by U.S. PIRG and other groups in the DC Circuit, U.S. Court of Appeals, seeking to intervene in defense of the CFPB in the case PHH vs. CFPB. 

> Keep Reading
Report | U.S. PIRG Education Fund and Frontier Group | Financial Reform

Big Banks, Big Overdraft Fees

Overdraft fees are a major source of consumer pain, since they are borne disproportionately by Americans with few financial resources. Through the first three quarters of 2016, 626 large banks reported collecting $8.4 billion in revenue from overdraft and NSF fees, an increase of 3.6 percent over the same period in 2015. American consumers should look to the Consumer Financial Protection Bureau (CFPB), which has already enforced overdraft regulations and returned millions of dollars to consumers, to take new action to prevent unfair overdraft fees.

> Keep Reading
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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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. 

> Keep Reading
Blog Post | Financial Reform

CFPB's Kraninger Provides Opaque Statement To Committee; Questions and Second Panel Will Be Critical | Ed Mierzwinski

Today, new CFPB director Kathy Kraninger testifies to Congress for the first time. The House Financial Services Committee will need to drill down with tough questions. Why? Kraninger's written pre-filed statement reads like an answer to a warped question from old television's Sergeant Joe Friday: "Just the irrelevant, off-point facts, ma'am." The committee should also look to the cogent testimony of consumer, civil rights, military family and student advocates also appearing today.

> 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 | Financial Reform

Mulvaney Lobs One Last Softball To Industry Opponents of CFPB | Ed Mierzwinski

As the year 2018 came to an end, U.S. PIRG, Americans for Financial Reform and AFR members filed the last in in a seemingly interminable series of Consumer Financial Protection Bureau Requests for Information. Although there was no clear intent to this "Data Collection" RFI, we, and allied academic scholars who filed a separate comment, both inferred it as another opportunity for industry opponents of the CFPB to attack the Bureau's consumer protection mission -- this time by challenging its collection and use of data to evaluate and respond to financial marketplace problems that harm consumers. 

> Keep Reading
Blog Post | Financial Reform

EU NGOs Blast Google Locational Data Collection as US Groups Blast FTC on Privacy | Ed Mierzwinski

Today, 7 member groups of the European Consumer Organization (BEUC) asked each of their national Data Protection Authorities to investigate Google Android's smartphone locational data collection practices following an investigative report by the Norwegian Consumer Council (Forbrukerrådet) finding that Google may be in violation of the new European GDPR privacy law. All the groups are members of the U.S. PIRG-backed TransAtlantic Consumer Dialogue, which itself  followed up on the report and EU actions with a letter to the U.S. Federal Trade Commission. Meanwhile, as the Senate prepared for an afternoon FTC oversight hearing today where Facebook may be a focus, we joined leading groups in a separate letter to complain to the FTC about its biased staff report that adopts unsubstantiated industry claims in defense of an FTC call to the administration for weak baseline privacy choices. 

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Blog Post

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. 

Blog Post

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." 

News Release | U.S. PIRG

U.S. Rep. Bobby Rush releases legislation to increase transparency around important product injury and death data. 

Blog Post

Parents don’t usually expect the toys they buy to threaten their kid’s health -- especially when that toy is a smiling train from a popular kids show.

News Release | U.S. PIRG

Consumer, public health and voter advocacy -- often from the national nonpartisan group U.S. PIRG and its affiliates -- moved the ball forward at the state level in 2019. 

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.

 

Consumer Protection

The Trump administration's Consumer Bureau just appointed a task "farce" on consumer law

The Trump administration's Consumer Financial Protection Bureau just appointed a new task force on consumer law — but according to senior director of PIRG's federal consumer program, Ed Mierzwinski, this task force isn't set up to be on the side of consumers. "It is a task farce," he said.

 

Consumer Protection

Ed Mierzwinski and Katie Murtha named top lobbyists of 2019

PIRG Federal Consumer Program Senior Director Ed Mierzwinski and Vice President of Federal and Government Affairs Katie Murtha have been recognized as being among the top lobbyists in Washington, D.C.

 

Consumer Protection

Watch out for unsafe toys this holiday season

Our annual “Trouble in Toyland” report found toys with choking hazards, recalled toys still for sale, toxics in slime and more.

 
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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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