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Over 80 Groups Oppose S.2155 & its Benefits for the Credit Bureaus

By | Mike Litt
Director, Campaign to Defend the Consumer Bureau

Today, we sent a letter addressed to all members of the House of Represenatives in opposition to S. 2155, or as we call it, the Bank Lobbyist Act. We are joined by 84 other groups and leaders, representing communities, consumers, servicemember, and workers across the country. In particular, this letter explains how the bill benefits Equifax and the other national credit bureaus at the expense of average consumers and our military servciemembers. 

Resource | Financial Reform

Over 80 Groups Oppose S.2155 & its Benefits for the Credit Bureaus

Today, we sent a letter addressed to all members of the House of Represenatives in opposition to S. 2155, or as we call it, the Bank Lobbyist Act. We are joined by 84 other groups and leaders, representing communities, consumers, servicemember, and workers across the country. In particular, this letter explains how the bill benefits Equifax and the other national credit bureaus at the expense of average consumers and our military servciemembers. 

News Release | U.S. PIRG Education Fund | Financial Reform

Consumer Advocates File in Support of Acting CFPB Director Leandra English

This is a joint press release from U.S. PIRG Education Fund and other leading consumer and civil rights organizations explaining our amicus (friend of the court) brief filed today in support of acting CFPB director Leandra English. English was appointed acting director by outgoing director Richard Cordray, but the President has claimed authority to appoint Office of Management and Budget director Mick Mulvaney to simultaneously be acting director of the Consumer Bureau. English seeks a preliminary injunction blocking the Mulvaney appointment.

News Release | U.S. PIRG | Financial Reform

Statement On Departure Today of Consumer Bureau Director Richard Cordray

U.S. PIRG and the state PIRGs commend Rich Cordray for his over six years as the Consumer Financial Protection Bureau’s first director. In its short years as the nation’s top consumer cop, all under Director Cordray, the young Bureau has returned $12 billion dollars to over 29 million consumer victims of financial schemes by wrongdoers ranging from Wall Street banks, mortgage companies and for-profit schools to debt collectors, credit bureaus and payday lenders. FULL STATEMENT FOLLOWS.

Like clockwork, after any big data breach is disclosed, powerful special interests seek to turn the problem into a bigger problem for consumers by  using it as an opportunity to enact some narrow federal legislation that broadly eliminates state data breach notice, state data security and other privacy protections.  I testified yesterday in the House warning of their Trojan Horse efforts, which not only take away existing laws, but deny any new laws, even on new problems identified. 

Media Hit | Financial Reform

Report: Top U.S. companies, including several based in Massachusetts, keeping $2.6 trillion in offshore tax havens

Close to three-quarters of Fortune 500 companies have money in offshore tax havens, according to a report released Tuesday by consumer groups. These companies have $2.6 trillion in offshore profits that are not being taxed in the U.S., according to the report.

News Release | MASSPIRG | Financial Reform

Most Fortune 500 Companies Used Tax Havens in 2016

General Electric and Boston Scientific among the 73 percent of Fortune 500 companies maintaining subsidiaries in offshore tax havens, according to our new report "Offshore Shell Games."

Report | MASSPIRG Education Fund | Financial Reform

Off Shore Shell Games

Seventy three percent of Fortune 500 companies – including General Electric and Boston Scientific maintained subsidiaries in offshore tax havens, according to MASSPIRG's new report - "Offshore Shell Games."

News Release | MASSPIRG | Financial Reform

REPORT: MORTGAGE ABUSES LEADING SOURCE OF OLDER CONSUMER COMPLAINTS TO CFPB

Mortgages were the leading source (31% of 72,000) of complaints to the Consumer Financial Protection Bureau from consumers 62 and over, followed by complaints about credit reports and debt collection, according to a new report. Further, legislation passed by the U.S. House and awaiting Senate action intended to cripple the Consumer Bureau would place older consumers at greater risk of harm from financial scammers.

 

 

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