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

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

Blood pressure medication recalled for 75th time in 8 months

The presence of chemicals that likely cause cancer has prompted the U.S. Food and Drug Administration (FDA) to announce another recall of the blood pressure medication Valsartan. In response, U.S. PIRG Consumer Watchdog Adam Garber released the following statement. 

> Keep Reading

FDA tests prompt Claire’s to pull asbestos-laden kids’ makeup from shelves

The mall chain store Claire’s is removing from shelves three talc-based products — eye shadows, compact powder and contour powder — that the U.S. Food and Drug Administration said earlier this week contain asbestos.

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

Consumers Take a Back Seat at CFPB as Kathy Kraninger Testifies

Here is our statement about tomorrow's Congressional hearing on the Consumer Financial Protection Bureau. 

> Keep Reading
News Release | US PIRG Education Fund | Public Health, Consumer Protection

FDA finds asbestos in Claire’s makeup sold to children, confirming U.S. PIRG test results

 Nearly a year after a U.S. PIRG Education Fund study showed that U.S.-based retailer Claire’s has been selling makeup contaminated with carcinogenic asbestos, the U.S. Food & Drug Administration (FDA) has confirmed our test results. Both PIRG Education Fund and the FDA found asbestos contamination in some of Claire’s makeup products marketed to children.

> Keep Reading

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

New report: Hazardous Meat & Poultry Recalls Nearly Double

From E. coli-infected romaine lettuce to Salmonella-tainted beef, contaminated foods lead to illnesses that sicken as many as 1 in 6 Americans annually. U.S. PIRG Education Fund’s new report How Safe is Our Food?, released today, reveals how fundamental flaws in our current food safety system have led to a jump in these recalls since 2013.

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

Fiat Chrysler Settlement Fails to Protect Consumers

While we are glad that Fiat Chrysler is paying something for damaging the health of Americans and deceiving customers, this settlement does not go far enough. It neither ensures these violations of the public trust won’t happen again nor makes consumers whole.

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

Drivers still at risk as more Ford cars recalled

On Friday, Ford expanded a recall of its cars with Takata airbag inflators for the fourth time, broadening it by an additional 953,000 vehicles. Tano Toussaint, Consumer Watchdog Associate, responds.

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

Wells Fargo Reaches $575 Million Settlement With 50 States and D.C. Over Fake-Accounts and Other Consumer Scandals

Here is our statement about today's announced Wells Fargo settlement.

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

Investigation alleges Facebook violates consumers’ privacy -- and an FTC consent decree against deception

Yesterday, The New York Times published the results of an investigation alleging that Facebook allowed big tech partners including Netflix and Spotify to access users’ personal data -- including private Facebook messages -- and ignored an FTC consent decree requiring users’ consent.

> Keep Reading

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Report | U.S. PIRG Education Fund and Center for Digital Democracy | Financial Reform

Big Data Means Big Opportunities and Big Challenges

This report examines the growing use of "Big Data" in financial decision-making, especially in a digital marketplace characterized more and more by the use of mobile phones. It explains the opportunities to use Big Data to promote financial opportunity and the threat of financial exclusion, discrimination or higher prices for some consumers if Big Data is not used properly. The report makes recommendations to advocates, industry and regulators.

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

Debt Collectors, Debt Complaints

This is the fifth in a series of reports that review complaints to the CFPB nationally and on a state-by-state level. In this report we explore consumer complaints about debt collection, with the aim of uncovering patterns in the problems consumers are experiencing with debt collectors and documenting the role of the CFPB in helping consumers successfully resolve their complaints.

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

Trouble in Toyland 2013

The 2013 Trouble in Toyland report is the 28th annual U.S. Public Interest Research Group (PIRG) survey of toy safety. In this report, U.S. PIRG provides safety guidelines for consumers when purchasing toys for small children and provides examples of toys currently on store shelves that may pose potential safety hazards.

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

Big Banks, Bigger Fees

Over the last six months, state PIRG staff conducted inquiries at 250 bank and 116 credit union branches in 17 states and the District of Columbia and reviewed bank fees online in these and 7 other states. They found that free checking remains available at more than 6 out of 10 small banks and credit unions but was only found at one-quarter of surveyed big banks (those with over $10 billion in deposits).

> Keep Reading
Report | U.S. PIRG Education Fund | Consumer Protection, Higher Ed

The Campus Debit Card Trap

Banks and other financial firms are taking advantage of a variety of opportunities to form partnerships with colleges and universities to produce campus student ID cards and to offer student aid disbursements on debit or prepaid cards. In addition to on-campus services, such as student ID functions offered on the card, some cards offer traditional debit card services linked to bank accounts; other cards provide additional reloadable prepaid card functions. The disbursement of financial aid and university refunds is the most significant partnership identified.

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Blog Post | Financial Reform

We Join Groups in FTC Privacy Complaints Against Facebook and Google's YouTube | Ed Mierzwinski

We've joined complaints that two behemoth firms are in violation of Federal Trade Commission privacy rules. In the first, U.S. PIRG joins the Electronic Privacy Information Center and other groups claiming that a number of Facebook's practices - particularly, its use of facial recognition techniques without consent -- violate a previous 2011 privacy order. The facial recognition practice may also violate PIRG-backed Illinois law. Second, we join the Center for Digital Democracy's filing alleging that Google's YouTube collects information about kids in violation of the Children's Online Privacy Protection Act (COPPA). And we haven't forgotten about Equifax.

> Keep Reading
Blog Post | Financial Reform

32 state Attorneys General to Congress: Don't replace our stronger privacy laws! | Mike Litt

Some 32 Democratic and Republican state Attorneys General have sent a strong letter to the bi-partisan sponsors of a draft federal data breach and data security bill. The weak, industry-backed proposal from Rep. Blaine Luetkemeyer (R-MO) and Carolyn Maloney (D-NY) would override, or preempt, numerous better state privacy laws and, importantly, prevent states from ever again acting to protect their citizens' financial DNA better. We don't like the bill either.

> Keep Reading
Blog Post | Financial Reform

Did Facebook Violate An FTC Privacy Order When It Did Business With Cambridge Analytica? | Ed Mierzwinski

Recent news stories about Facebook providing personal information to the data broker Cambridge Analytica raise a question: Is Facebook in violation of a 2011 Privacy Order with the Federal Trade Commission? We've joined leading consumer and privacy groups in a letter to the FTC raising issues for an investigation.

> Keep Reading
Blog Post | Financial Reform

We Signed A Letter In 2014 But That Doesn't Mean We Support The Bank Lobbyist Act | Mike Litt

Why would we support an amendment to make a bad bill worse? We wouldn't. Here's our explainer on how our signature on a 2014 letter should not have been used to somehow imply we supported an amendment to S2155 on credit scoring favoring Equifax and the other Big 3 credit bureaus.

> Keep Reading
Blog Post | Public Health, Consumer Protection

PIRG Consumer Watchdog: Asbestos Found In Children's Products | Dev Gowda

The PIRG Consumer Watchdog team recently found that three different products sold by national retail brand Claire’s contain alarming amounts of asbestos. The Food and Drug Administration (FDA) considers it “unacceptable” for cosmetic talc to be contaminated with asbestos, and doctors say that there is no safe limit of asbestos.

> Keep Reading

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News Release

Statement of Higher Ed Campaign Director Kaitlyn Vitez on the reintroduction of the Overdraft Protection Act, which would improve consumer disclosures and limit excessive fees. 

Blog Post

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

News Release | U.S. PIRG

Google will pay a $170 million penalty to settle claims that YouTube “illegally collected personal information from children without their parents’ consent” through its advertising practices, the Federal Trade Commission announced today.

News Release | U.S. PIRG Education Fund

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.

Report | U.S.PIRG Education Fund and Kids In Danger

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.

Consumer Protection | U.S. PIRG

Campus debit cards cost students over $24 million in fees

Report shows how campus debit cards — along with how they are marketed — are putting students' financial well-being at risk across the country.

 

Consumer Protection | U.S. PIRG

The real price of medications

The results of our investigation of variations in prescription drug prices may surprise you.

 

Consumer Protection | U.S. PIRG

Driving into debt

The hidden costs of risky auto loans to consumers and our communities

 

Consumer Protection

Congressional investigation concludes that Equifax breach was entirely preventable

The worst data breach in history could have been prevented with some basic security measures.

 
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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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