PennPIRG Ban Roundup & CFPB Homepage 2017

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Report | PennPIRG Education Fund and the Frontier Group | Tax

Following the Money 2016

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Blog Post | Consumer Protection

Time To Defend CFPB as Senate Banking Committee Aims Sights at It | Ed Mierzwinski

UPDATED 12 April: The Senate Banking Committee held a stacked hearing on "Assessing Consumer Regulations" yesterday (5 April), although our one pro-consumer witness and pro-CFPB Senators defended consumer protection ably as three industry-backed witnesses and their supporters on the committee had a great deal of trouble proving their case that the CFPB should be dismantled. Tomorrow morning, (7 April) CFPB Director Richard Cordray will present the statutory "Semi-Annual Report of the CFPB" to the committee. We submitted a statement to be entered into the hearing record, as did other Americans for Financial Reform coalition members.

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News Release | U.S. PIRG | Consumer Protection

The Department of Labor Fiduciary Rule for Investment Advice

U.S. PIRG federal legislative director Jerry Slominski on The Release of the Department of Labor Fiduciary Rule for Investment Advice

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Blog Post | Consumer Protection

What is payday lending? | Kathryn Lee

We are a leading member of Americans for Financial Reform, a coalition that was instrumental in the creation of the Consumer Financial Protection Bureau (CFPB) by Congress in 2010. The CFPB is currently working on a rule to reign in the payday lending industry. We, along with AFR, are working to make sure the rule is a strong one. 

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Blog Post | Consumer Protection

Lowering your APR might be easier than you think | Kathryn Lee

Many Americans are walking around with a balance on their credit card because of high interest rates, or annual percentage rate (APR) charges for unpaid balances. It's best to pay off your balance in full but if you don't or can't, a higher APR makes your debit grow faster. What most people don’t realize is this APR can be negotiated to a lower rate.

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News Release | PennPIRG | Transportation

Transportation Bill is a Step Backwards

Statement by Phineas Baxandall, PennPIRG’s Senior Transportation Analyst, regarding the disappointing federal Transportation Bill as released from conference committee today.

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News Release | PennPIRG | Health Care

Supreme Court Upholds Health Reform

Today’s decision is good news for consumers. Insurance companies can’t go back to the days of dropping your coverage once you become ill, or denying coverage to sick children. And beginning in 2014, the days of insurers being able to deny anyone coverage for “pre-existing conditions” will be history. 

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News Release | PennPIRG | Tax

Flawed Farm Bill Heads Towards Senate Floor

The Senate is moving to vote on the farm bill, S.3240, that would continue the current system of agricultural subsidies to large, profitable, agribusiness.

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Debt Trap: Keep payday and predatory lenders out of Pennsylvania- Editorial

The Patriot-News Editorial board speaks out against a bill that would allow payday lenders to charge triple diget interest rates. This bill is opposed by PennPIRG and a coalition of organizations throughout Pennsylvania.

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News Release | PennPIRG Education Fund | Democracy

Vast Majority of PA College IDs Not Valid for Voting

April 12, PHILADELPHIA - A recent study released today by PennPIRG and a broad coalition of voter protection groups found that Pennsylvania’s new photo ID voting law could potentially disenfranchise more than 80% of the state’s college students. 

 

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Report | PennPIRG Education Fund | Health Care

Health Care in Crisis

Unless the new Congress and Administration act to reduce health care costs, the yearly cost of the average employer-paid family health policy in America is projected to more than double from $11,794 in 2006 to $26,879 by 2016 even after adjusting for inflation. If recent trends continue, wages and household incomes will simply not keep up with these high costs. Nor will the business sector be immune to this crisis.  Unchecked, this cost epidemic could also severely impact the small businesses that drive job creation in the American economy.

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Report | PennPIRG Education Fund | Budget, Transportation

Private Roads, Public Costs

Road privatization is a growing issue in the United States as politicians and transportation officials grapple with budget shortfalls. Toll road privatization takes two forms: the lease of existing toll roads to private operators and the construction of new roads by private entities. In both instances, private investors are granted the right to raise and collect toll revenue, a right that can amount to billions of dollars in profits for the shareholders.

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Report | PennPIRG Education Fund | Safe Energy

The High Cost of Nuclear Power

Nuclear power is among the most costly approaches to solving America’s energy problems.
Per dollar of investment, clean energy solutions – such as energy efficiency and renewable resources – deliver far more energy than nuclear power.

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Report | PennPIRG Education Fund | Consumer Protection

PIRG’s Trouble In Toyland

The recall of 45 million toys and other children’s products in 2007 and continued recalls in 2008 reminded Americans that no government agency tests toys before they are put on the shelves. Specifically, the wave of recalls focused attention on the fact that the agency charged with protecting Americans from unsafe products—the Consumer Product Safety Commission—is a little agency with a very big job to do.

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Blog Post | Consumer Protection

CFPB Begins Payday Regulation Push In Richmond | Ed Mierzwinski

We joined the CFPB in Richmond Thursday for a field hearing on a proposed rule to regulate payday lending and similar high-cost short-term loans. The CFPB's draft rule is comprehensive, covering a variety of loans, but it contains potential loopholes that we and other advocates will urge the bureau to close before it finalizes this important effort. Here's a short blog with some photos from Richmond.

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Blog Post | Consumer Protection

CFPB Adds Consumer Stories to Public Complaint Database | Ed Mierzwinski

Today, the CFPB took a step to make its excellent public database of consumer complaints even better, by adding complaint narratives (stories), but only with the consumer's consent. It's a step we've long urged. It will enrich our research into the marketplace, help consumers make choices and help good-actor firms avoid bad practices by others.

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Blog Post | Financial Reform

As NY Brings Credit Bureaus To Heel, CFPB Arbitration Study Paves Way Toward New Protections | Ed Mierzwinski

Two big consumer stories so far this week offer hope to consumers victimized by credit bureau errors and, more generally, by an inability to take credit bureaus, credit card companies, banks or payday lenders to court when harmed. On Monday, New York's Attorney General Eric Schneiderman signed a groundbreaking agreement with the Big Three credit bureaus, Equifax, Trans Union and Experian. Then today, the CFPB released a report finding that consumer legal rights are infringed by small-print forced arbitration clauses in credit card and other contracts.  The CFPB will hold a webcast public hearing at 11am Eastern time today (Tuesday) to discuss the report's findings and next steps.

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Blog Post | Financial Reform

Is Anyone Protecting Your Privacy Or Wallet? Turbotax? Anthem? Apple? The Government? | Ed Mierzwinski

As if recent privacy breaches at the online tax preparer Turbotax and the health insurer Anthem weren't enough, it turns out that low-tech hacks can trick the vaunted Apple Pay system into giving up cash to thieves, too. Meanwhile, while the administration's blueprint for a Privacy Bill of Rights in 2012 was excellent, its new legislative draft from the Department of Commerce could have been written by the U.S. Chamber of Commerce. There is some good news on privacy, though.

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Blog Post | Consumer Protection

As House Holds Oversight Hearing, 340 Groups Call For Defense of CFPB | Ed Mierzwinski

Today, Consumer Financial Protection Bureau Director Richard Cordray will present the CFPB's sixth semi-annual report to the House Financial Services Committee, whose majority members have been harsh critics of the successful consumer agency. Americans for Financial Reform, joined by the state PIRGs and a total of 340 national, state and local groups, sent Congress a letter explaining why the idea of the CFPB needs no defense, only more defenders.

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