Financial Reform

NYT Points Out Overdraft Fees Still A Problem

By | Ed Mierzwinski
Consumer Program Director

A major article in today's New York Times, "Overdraft Practices Continue to Gut Bank Accounts and Haunt Customers," points out that while 2010 reforms put in place by the pre-CFPB regulators have helped, there's still work to be done to protect consumers from unfair overdraft practices. While years ago banks used "bounced check" fees to deter what was then seen as a negative behavior, more recently they have encouraged overdrafts by offering "standard overdraft protection" as if it is a feature, not a bug. They've made billions.

UPDATED (9 Feb.) Retail store data breaches make a mess, but an easy one to clean up and the few consumers who become fraud victims are quickly made whole. The Anthem hackers, on the other hand, reportedly obtained a mother lode of information that could be used to commit a variety of serious frauds, including obtaining your tax refund. Read our tips here. Here's the first: Don't click on any emails claiming to be from Anthem; some may be malicious.

A New Direction In Driving Trends

After a 60 year boom, driving is on the decline in the U.S. and no likely scenario shows it returning to previous levels of growth. 

CFPB announces major investigation of bank overdraft fee practices

By | Diane E. Brown
Executive Director

Today, the Consumer Financial Protection Bureau will announce overdraft fee investigation, unveil "penalty box" disclosure, and possibly end $39 lattes.

News Release | Arizona PIRG Education Fund | Financial Reform

New Consumer Agency Takes Over as Nation’s Consumer Bank Cop

As the Consumer Financial Protection Bureau (CFPB) officially opened its door today, the Arizona PIRG Education Fund and consumer groups across the nation issued a report documenting “10 reasons” consumers need the new CFPB.

Report | Arizona PIRG Education Fund | Financial Reform

Ten Reasons We Need The CFPB Now

As the Consumer Financial Protection Bureau (CFPB) officially opened its door today, the Arizona PIRG Education Fund and consumer groups across the nation announced the results of a poll showing that an overwhelming majority of likely voters both support a new consumer agency (74%) and want Wall Street held “accountable” (77%).  In addition, the groups issued a report documenting “10 reasons” consumers need the new CFPB.

News Release | Arizona PIRG Education Fund | Financial Reform

Professor Elizabeth Warren and New Consumer Bureau Launch Website – ConsumerFinance.gov

The new Consumer Financial Protection Bureau (CFPB) has something new for American consumers. ConsumerFinance.gov is a government website that actually says ‘come on in and talk with us’ instead of one that says ‘go away, we cannot help.’

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