Financial Reform

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.

House Committee Launches Trojan Horse Assault On State Privacy Laws

By | Ed Mierzwinski
Consumer Program Director

This afternoon (Tuesday, 8 December), the U.S. House Financial Services Committee launches a massive attack on state privacy laws. Hidden inside a seemingly modest proposal to establish federal data breach notice requirements is a Trojan Horse provision designed to to take state consumer cops off the privacy beat, completely and forever. That's wrong, because the states have always been key first responders and leaders on privacy threats that Congress has ignored, from credit report accuracy and identity theft to data breaches and do-not-call lists.

Resource | Financial Reform

Letter to CFPB & FTC on Experian/T-Mobile Data Breach

Following a breach of a subsidiary of the nationwide credit bureau Experian affecting 15 million customers and applicants of T-Mobile, a number of state PIRGs have joined other leading privacy and consumer groups in a request for investigations by the CFPB and FTC.

THE CFPB IS 4 YEARS OLD AND HAS A LOT TO SHOW FOR IT!

By | Ed Mierzwinski
Consumer Program Director

We're keeping busy promoting the CFPB's 4th birthday. Tuesday, July 21, marks four years to the day since the Consumer Financial Protection Bureau opened its doors to protect consumers and make financial markets work. CFPB was established by Congress just one year before that, with the July 21, 2010 passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the wake of the financial collapse of 2007-2008, caused by a lack of adequate regulation.

News Release | Financial Reform

LOOKING BACK AT 2014: YEAR OF STOCKING STUFFERS FOR CRIMINAL CORPORATIONS

This was the year that billion-dollar settlements paid by corporations to atone for wrongdoing became normal -- and so many of those deals gave the corporations huge tax write offs at the expense of ordinary taxpayers.

News Release | MASSPIRG | Financial Reform

Statement of MASSPIRG Executive Director Janet Domenitz Opposing “CRomnibus” Appropriations "Rider" to Repeal the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act

We join others, including Americans for Financial Reform and the Leadership Conference on Civil and Human Rights, in condemning this backdoor, backroom appropriations "rider" to weaken the Wall Street reform law's protections for taxpayers and Main Street from the risky derivatives swaps that led to the 2008 financial collapse and recession.

Sovereign near top of regulator’s list of bank complaints

Two of the region’s biggest banks are near the top of a list of the most complained-about banks in the country.

3 Boston area banks ranked among worst on complaints

New MASSPIRG Education Fund Report report ranks banks' record in generating and resolving consumer complaints. 

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