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Blog Post | Consumer Protection

Wall Street Ramps Up Attacks on Wall Street Reform | Ed Mierzwinski

On Friday, the House overwhelmingly approved a Wall Street-driven proposal to weaken oversight of private equity firms, taking a chunk out of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. But wait, there's so much more: On Tuesday the House Financial Services Committee takes up the so-called "Financial Choice Act," which eviscerates most of Dodd-Frank's key reforms, from stripping powers of the Financial Stability Oversight Council to repealing the Volcker Rule, which reins in risky betting practices that use depositors' money. As for the CFPB (which just this week issued its biggest fine to date, $100 million against Wells Fargo Bank for opening hundreds of thousands of fake and secret consumer accounts to meet sales goals), the proposal would defund and defang it and delay or stop its efforts to rein in unfair practices of payday lenders, debt collectors and banks. Many of the Financial Choice Act's provisions also pose threats as budget bill "riders."

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News Release | MASSPIRG | Consumer Protection

Record $100 Million CFPB Penalty Order Against Wells Fargo Bank For Illegal Sales Practices

On September 8 the Consumer Financial Protection Bureau (CFPB) announced a record $100 million civil penalty plus consumer restitution against Wells Fargo, among the nation’s largest banks, for a series of unfair and abusive sales practices by “thousands” of employees that included opening “secret” accounts for “hundreds of thousands” of existing customers, solely to meet sales goals to receive financial incentives. 

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News Release | MASSPIRG EDUCATION FUND | Higher Ed

ITT TECH CAN NO LONGER DECEIVE STUDENT BORROWERS

College’s harmful student practices cause it to shut down.

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News Release | MASSPIRG EDUCATION FUND | Consumer Protection

Report: Analysis of Payday Complaints Reveals Need for Stronger Federal Protections

Consumer complaints about payday loans to the Consumer Financial Protection Bureau (CFPB) show a critical need for strengthening the agency’s proposed rule to rein in payday loans and other high-cost lending.

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News Release | MASSPIRG | Safe Energy

Report Released Documenting Marine Destruction and Pollution of Cape Cod Bay by Entergy’s Pilgrim Nuclear

Cape Cod Bay Watch on released a scathing new report that documents how Entergy Corporation, owner of the Pilgrim Nuclear Power Station in Plymouth, destroys marine life and pollutes Cape Cod Bay by using an outdated “once-through” cooling water system to run Pilgrim.

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News Release | MASSPIRG | Democracy

Bill Introduced in United States Senate to Fight Big Money in Elections

With 2016 candidates already raising record amounts from large donors for their campaigns, U.S. Sen. Richard Durbin introduced legislation today that would give new power to small donors in elections. The Fair Elections Now Act would provide an incentive for more Americans to participate in the electoral process by establishing a $25 “my voice” refundable tax credit. Contributions of less than $150 would be matched with limited public funds at a rate of six-to-one for Senate candidates who agree to turn down big money, amplifying the voices of small donors.  

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News Release | MASSPIRG | Transportation

AMTRAK DERAILMENT HIGHLIGHTS NEED TO FUND RAIL AND TRANSIT AS HOUSE VOTES TO CUT $260 MILLION IN AMTRAK BUDGET

While it’s unclear whether the Amtrak derailment on Tuesday near Philadelphia was directly the result of inadequate maintenance and repair, the tragedy highlights the need for Congress to adequately fund transit infrastructure, repair and maintenance. 

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News Release | MASSPIRG Education Fund | Transportation

Who Pays For Roads?

Many Americans believe that drivers pay the full cost of the roads they use through gas taxes and other user fees. That has never been true, and it is less true now than at any other point in modern times. Today, general taxes paid by all tax- payers cover nearly as much of the cost of building and maintaining highways as the gas tax and other fees paid by drivers.

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Blog Post | Safe Energy

TESTIMONY In support of An Act Relative to Expanding Energy Efficiency in the Commonwealth | Janet Domenitz

As a statewide, member supported, nonpartisan consumer advocacy organization, our agenda is to promote public health, consumer protection, and citizens’ voices in a process often dominated by powerful special interests. This bill, which would expand energy efficiency standards in the Commonwealth, is exactly the kind of solution we need to our energy problems.

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Blog Post | Consumer Protection

Opposition to bills which would weaken or eliminate the food store item pricing law | Deirdre Cummings

I urge you to oppose these measures which undermine consumers’ clout in the market place. Now, more than ever, as we are barraged with more and more sophisticated marketing strategies we should be focused on measures to enhance consumer information – and not diminish it.

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Blog Post | Budget

Testomony is support of Transparency in State Revenues and Expenditures | Deirdre Cummings

The Commonwealth should become a leader in budget transparency. Doing so will help rebuild the frayed public trust in government. It will help us make better choices together about investments in our community.

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Blog Post | Consumer Protection

Testimony In Support of a Car Buyer's Bill of Rights | Elizabeth Weyant

House Bill 242 would protect consumers from deceptive lending and marketing practices, and give consumers more rights when purchasing a car. We hope you will pass this bill favorably from the committee.

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Blog Post | Consumer Protection

Testimony in Favor of Acts: Prohibiting the Use of Health Data for Marketing Purposes, Protecting the Confidentiality of Patient Prescription Records & Prevent the Sharing of Prescription Data | Deirdre Cummings

Regulating the marketing practices of pharmaceutical companies is a necessary step in controlling the skyrocketing costs of health care in the Commonwealth.

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Defend the CFPB

Tell your senators 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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