Financial Reform

At a news conference in NYC today, Director Richard Cordray of the new Consumer Financial Protection Bureau (CFPB) will announce a major investigation of bank overdraft fee practices and propose a model "penalty box" disclosure to appear on bank statements. The investigation could end the $39 latte-- $4 bucks for the coffee, $35 for the debit card overdraft fee.

News Release | MASSPIRG | Financial Reform

Victory for the American Public, first step to making Big banks accountable

 

Banks will make $25 billion downpayement on penalties owed to the American people in a robo-signing lawsuit settelement, and they can still be held accountable for other violations. MASSPIRG Attorney comments on this victory for the American public.

 

News Release | MASSPIRG | Consumer Protection, Financial Reform

President Gives Consumer Watchdog the Teeth it Needs

MASSPIRG Applauds Bold and Important Recess Appointment of Richard Cordray to Head New Consumer Financial Protection Bureau

College Textbooks: Money-Saving Tips

Being a smart consumer could save you hundreds of dollars every year.  Follow these tips to save on textbooks!

News Release | MASSPIRG | Consumer Protection, Financial Reform

MASSPIRG urges Senator Brown to vote for Wall Street Reform

We are here today to urge Congress to pass the Wall Street Reform and Consumer Protection Act approved last Friday in Conference Committee.

News Release | MASSPIRG | Consumer Protection, Financial Reform

AG Coakley Announces Big Bank Foreclosure Suit

The reckless and predatory Wall Street practices collapsed our economy in 2008, causing trillions of dollars in lost savings, jobs and home ownership.  Today, Massachusetts Attorney General Martha Coakley filed suit against five national banks in connection with their roles in pursuing illegal foreclosures on properties in Massachusetts.

News Release | MASSPIRG | Financial Reform

Insurers Barred from Using Credit Scores In Setting Auto Insurance Rates

MASSPIRG is continuing to  push for reforms prohibiting insurers from using other rating  factors not related to consumers’ driving record   including  type of employment,  and home ownership. 

 

 

News Release | MASSPIRG | Consumer Protection, Financial Reform

Bank of America Cancels Monthly Debit Card Fees As Consumers Vote With Feet

When Bank of America recently announced its $5 monthly debit card fee, MASSPIRG called it excessive. We also reminded consumers that if ever there was a time to find a new local bank or credit union this would be it.

News Release | MASSPIRG | Consumer Protection, Financial Reform

Another Big Bank Charging Big Fees

As their latest entry into the bank fee frenzy, Bank of America (BofA) is rolling out a new $5/month debit card fee.

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