Defend the Consumer Bureau

For more than 20 years, Consumer Program Director Ed Mierzwinski has helped us stand up against big banks and credit card companies.

A CONSUMER COP ON THE FINANCIAL BEAT

You work hard to earn your money. You should be able to save, invest and manage your money without fear of being trapped, tricked or ripped off by the institutions you are trusting with your financial future.

That’s why we need strong consumer protections on Wall Street. And from the 2008 economic collapse, we know how big of an impact those institutions can have on our economy when they play fast and loose with our money. It made it clear: Americans need a watchdog agency on Wall Street, devoted to creating and enforcing fair, clear and transparent rules to protect consumers.

So in 2010, we helped create the Consumer Financial Protection Bureau (CFPB) to be our consumer cop on the financial beat.

THE CFPB GETS THE JOB DONE

Despite the fact that the CFPB is not widely known, they’ve been hugely successful at working 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 Consumer Bureau 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:

When American Honda Finance used discriminatory pricing to rip off African-American, Hispanic and Asia/Pacific Island borrowers who paid too much for car loans, the CFPB returned $24 million to these consumers.

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 over half a million Americans.

When it was discovered that Wells Fargo employees were opening unauthorized debit and credit accounts using their customer's information, the CFPB fined Wells Fargo $100 million for fraud.

The CFPB fined Equifax and TransUnion — 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 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. Yet instead of cheering on the agency, the Trump administration and many members of Congress are pushing to weaken or even get rid of it.

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 Financial Protection Bureau to exist: We need to make it even better, by strengthening commonsense consumer protections.

Issue updates

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

Recall of Gold Medal Flour for Salmonella Contamination

General Mills announced Wednesday it is recalling all five-pound bags of Gold Medal Unbleached Flour because of potential Salmonella contamination. U.S. PIRG Consumer Watchdog issued the following statement.

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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.

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

Popular toys contain toxics and other hazards

This holiday season, watch out for dangerous and toxic toys. U.S. PIRG’s 33rd annual Trouble in Toyland report found toxic amounts of boron, which can cause nausea, vomiting and other health issues, in slime products as well as fining that Amazon failed to appropriately label choking hazards.

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News Release | U.S. PIRG | Consumer Protection

Hurricane Michael coverage: Data, resources and interview opportunities

With Hurricane Michael expected to make landfall Wednesday in western Florida as a major, Category 3 hurricane, then continue through the Southeast, The Public Interest Network (which includes U.S. PIRG, Environment America, Environment Florida, Environment Georgia, Environment North Carolina and Environment Virginia, among other organizations) is sharing information to help your readers and viewers contextualize the major environmental, health and consumer concerns posed by Michael.

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News Release | U.S. PIRG | Consumer Protection

U.S. PIRG response to reports of Facebook security breach

Facebook announced today that earlier this week, "attackers exploited a vulnerability in Facebook’s code that impacted “View As”, a feature that lets people see what their own profile looks like to someone else. This allowed them to steal Facebook access tokens which they could then use to take over people’s accounts."

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News Release | Consumer Protection

U.S. PIRG CONSUMER ADVOCATE MIKE LITT TESTIFIES AT CONGRESSIONAL HEARING ON EQUIFAX

Our Consumer Advocate, Mike Litt, was invited by Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, to testify this week at a Congressional hearing on the Equifax data breach. This was a continuation of the committee's previously held hearing on October 5th entitled "Examining the Equifax Data Breach."

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News Release | Consumer Protection

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

Mortgages were the leading source of 72,000 complaints to the Consumer Financial Protection Bureau from consumers 62 years of age and over, followed by complaints about credit reports and debt collection, according to a new report. Further, legislation passed by the 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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Statement on Walmart’s Decision to Strengthen Chemical Footprint Policy

Georgia PIRG Education Fund applauds retail giant Walmart for updating its sustainability policy to restrict toxic chemicals in 90,000 products including cosmetics and skincare items, infant products, and household cleaners.

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Agency votes to begin rulemaking process to protect American children, firefighters from hazardous flame retardant chemicals

Today, the U.S. Consumer Product Safety Commission (CPSC) took three critical steps toward protecting consumers and firefighters from the hazards posed by a class of flame retardant chemicals (known as “organohalogens”). The CPSC directed the Commission’s staff to begin the rulemaking process to ban the sale of four categories of consumer products if they contain these chemicals. Once again, the CPSC has made an important action for consumers.

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Statement on Unilever Starting to Disclose Fragrances via SmartLabel

Statement from Georgia PIRG Education Fund Toxics Advocate Dev Gowda on Unilever Starting to Disclose Fragrances via SmartLabel

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Report | Georgia PIRG Education Fund | Consumer Protection

Trouble in Toyland

Toys are safer than ever before, thanks to decades of work by product safety advocates and parents and the leadership of Congress, state legislatures and the Consumer Product Safety Commission (CPSC). Nevertheless, as parents venture into crowded malls and browse for the perfect toy on the Internet this holiday season, they should remain vigilant about often hidden hazards posed by toys on store shelves.

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Report | Georgia PIRG Education Fund | Consumer Protection

The Right Start

A child’s first few years are an exciting time for parents who hope, if for nothing else, that their child starts his or her life happy and healthy. 

Unfortunately, not all products marketed for children and babies are completely safe for their use. Many contain toxic chemicals that may have detrimental health impacts for children exposed during critical stages of development.

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Report | Georgia PIRG Education Fund | Consumer Protection

Mistakes Do Happen

The most valuable thing we have is our good name. The most common reflection of our reputation as a trustworthy consumer is our credit report. Unfortunately, the information contained in our credit reports, which are bought and sold daily to nearly anyone who requests and pays for them, does not always tell a true story.

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Report | Georgia PIRG Education Fund | Consumer Protection

Deflate Your Rate

At the end of the year 2000, U.S. households were accruing interest on $574 billion of revolving credit card debt, or debt carried over to the next month rather than paid off entirely. The average household with a credit card balance carried revolving debt of nearly $10,000. A household making the minimum payments—commonly only two percent of the unpaid balance or $20, whichever is greater—on this debt would pay nearly $1,500 in interest just in the first year. Nationally, consumers pay interest of more than $87 billion annually on this revolving debt.

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Blog Post

Here’s a guide to your rights depending on how you pay

News Release | US PIRG Education Fund

This FTC settlement must be a wake-up call to phone service providers so they do more to protect consumers. If not, the FTC must be vigilant in going after companies that enable the immoral practice of preying on consumers. And the FCC should require providers to block spoofed calls that we all know are scams.

Blog Post

Being proactive and demanding can help keep you and your family safe

Blog Post

If the COVID-19 pandemic affects your ability to pay, here’s what you need to know

Blog Post

Good news: You may still be able to request a forbearance because of COVID-19

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