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

Blog Post | Consumer Protection

Resources I used to prepare my advance directive | Mike Litt

Advance directives are legal instructions that include a living will (different from a regular will) and a health care proxy. In them, you state what treatments you do or don’t want at the end of your life and who you want making health care decisions for you if you can’t. 

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Blog Post | Consumer Protection

What I decided to do after shopping for long-term care insurance | Mike Litt

Before listening to In Case You Get Hit By a Bus, I didn’t know about insurance that covers the costs of long-term care, such as home health care or nursing home care, for people who need assistance with daily living activities. 

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Blog Post | Consumer Protection

How I’m supercharging my savings with socially responsible investing (SRI) | Mike Litt

Getting my finances in order has been a work in progress over several years, starting with tackling credit card debt, paying off my car loan and then building an emergency fund. 

After clearing those hurdles, I set more defined financial goals and plans in motion this year, including automatic deposits into new investment accounts.

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News Release | Arizona PIRG Education Fund | Consumer Protection

Report: Only one-third of largest phone companies have completely adopted anti-robocall technology

A looming deadline should finally force all U.S. phone companies to take stopping robocalls seriously. However, according to a new report by the Arizona PIRG Education Fund, Make the Ringing Stop: The FCC is Finally Fighting Back Against Robocalls, only one-third of the largest mobile and home phone providers nationwide have installed caller ID verification aimed at squashing illegal robocalls, even though many of those businesses were required to do so by June. The stakes get higher Sept. 28 when phone providers are required to block calls from companies that haven’t at least reported their status to the Federal Communications Commission.

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News Release | Arizona PIRG Education Fund | Consumer Protection

Study: CFPB complaints shattered records in 2020, exposing how the COVID-19 pandemic battered consumer finances

Consumer complaints about problems with financial companies such as banks, credit bureaus and debt collectors rose by more than 50 percent in 2020 and set new records for each month of the year, according to a new report from the Arizona PIRG Education Fund. The report, Consumers In Peril, which analyzed complaints received by the Consumer Financial Protection Bureau (CFPB), was released as part of National Consumer Protection Week.

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News Release | Arizona PIRG Education Fund | Consumer Protection

Arizona Falls Behind for Energy Efficiency

Arizona fell in national rankings for energy efficiency, according to a new report released today by the American Council for an Energy-Efficient Economy (ACEEE). The state is now 23rd in the country, down four spots since last year. The annual scorecard measures states’ progress on a variety of energy efficiency efforts, including utility programs and policies, transportation policies, building energy codes, and state government initiatives.

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News Release | Arizona PIRG Education Fund | Consumer Protection

Help is on the way for Customers Struggling to Pay Utility Bills

Yesterday the Arizona Corporation Commission voted to help ratepayers struggling to pay their electric bill know there is at least a bit of light heading into 2021. Through the Commission’s action, Arizona Public Service, Tucson Electric Power and Unisource Electric will automatically enroll ratepayers behind on their bills who may be subject to disconnection in an eight-month payment plan, starting in January 2021. Utilities also agreed to work with customers who may need more time to catch up on their bills. In addition, qualified low-income customers will receive a discount up to $250 off their bill, due in part to support from APS, TEP and UNSE shareholders.

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News Release | Arizona PIRG Education Fund | Consumer Protection

Arizona Corporation Commission Votes to Expand Energy Efficiency

The Southwest Energy Efficiency Project (SWEEP), Arizona PIRG Education Fund, and Wildfire: Igniting Community Action to End Poverty in Arizona, commended Chairman Bob Burns and Commissioners Boyd Dunn, Sandra Kennedy, and Lea Marquez Peterson - utility regulators at the Arizona Corporation Commission - for voting yesterday to expand Arizona’s Energy Efficiency Standard through 2030.

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News Release | Arizona PIRG Education Fund | Consumer Protection

New Report: COVID-19 Pandemic Worsens Existing Consumer Problems with Car Buying

Consumer complaints to the Consumer Financial Protection Bureau (CFPB) regarding vehicle loans and leases have increased sharply during the coronavirus pandemic, according to a new report by the Arizona PIRG Education Fund and Frontier Group. The analysis suggests that consumers in Arizona and across the United States are facing abusive and deceptive practices from the automobile lending industry. 

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Report | Arizona PIRG Education Fund | Consumer Protection

Protecting those who Serve

The CFPB provides an invaluable service to America’s men and women in uniform. Attempts to weaken or eliminate the CFPB could put those who protect our country in harm’s way, both while serving abroad and here at home, and even threaten national security. The Pentagon has found that financial abuses and credit reporting mistakes can cause service members to lose security clearances, resulting in lower unit preparedness.

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Report | Arizona PIRG Education Fund | Consumer Protection

Medical Debt Malpractice

Medical debt accounts for more than half of all collection items that appear on consumer credit reports. A review of 17,701 medical debt collection complaints submitted to the Consumer Financial Protection Bureau (CFPB) shows that problems with medical debt collection are widespread and harm Americans across the country.

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Report | Arizona PIRG Education Fund | Consumer Protection

Predatory Loans & Predatory Loan Complaints

This is the seventh in a series of reports that review complaints to the Consumer Financial Protection Bureau. In this report, we explore consumer complaints about predatory loans, categorized in the database as payday loans, installment loans, and auto title loans.

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Report | Arizona PIRG Education Fund | Consumer Protection

Trouble in Toyland

For 30 years, the State PIRG’s have conducted an annual survey of toy safety, which has led to over 150 recalls and other regulatory actions over the years, and has helped educate the public and policymakers on the need for continued action to protect the health and wellbeing of children. Among the toys surveyed this year, we found potential choking and noise hazards, one toy that exceeded federal toxic standards, and three toys that preliminary testing showed may exceed federal standards.

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Blog Post | Consumer Protection

Consumer Tips and FAQ about the Equifax Breach | Mike Litt

Hackers gained access to the personal data of over 145 million Americans in the Equifax breach. Here are some recommended actions consumers can take to protect themselves and answers to frequently asked questions.

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Blog Post | Consumer Protection

APS Rate Case: Not over until ACC Votes | Diane E. Brown

The Commissioners, not APS, will ultimately determine whether the monthly basic service charge and the rates of APS customers’ increase; if new customers, not APS, get to choose their initial rate plan; and if residential and small business ratepayers will have more or less ability to control their energy use and therefore save money.

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Blog Post | Public Health, Consumer Protection

#KickTheCan: BPA still found in many grocery stores’ canned foods | Dev Gowda

We’re all told to watch out for BPA in drinking bottles and baby products. But how about BPA in the cans that contain our food? A recent study by Center for Environmental Health (CEH) reveals that the toxic chemical BPA is readily found in canned foods. BPAs are often used in the liners of canned food to keep the aluminum from interacting with the food.

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Blog Post | Consumer Protection

Commissioners: Say No to Proposed APS Bill Increases | Diane E. Brown

As the Arizona Corporation Commission hosts public comment sessions across the state and prepares to vote on the APS rate case, we encourage APS ratepayers to urge the Commission to reject the unjustified rate increase and say no to unfair utility charges.

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Blog Post | Consumer Protection

Consumers Count: Five years of the CFPB standing up for consumers | Kathryn Lee

This week, the Consumer Financial Protection Bureau turns five years old! As part of our efforts to tell more people about the CFPB, we're cross-posting this video blog and comments written by Zixta Q. Martinez of the CFPB (check out the infographic at the end, too!).

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News Release | Arizona PIRG Education Fund

According to a new report by the Arizona PIRG Education Fund, “Ringing in our Fears”, a year after a new federal law aimed at fighting robocalls went into place, the number of phone companies that have adopted the required technology has quadrupled and the volume of scam robocalls has dropped in half. But the Arizona PIRG Education Fund said that spam texts have increased more than tenfold as con artists and identity thieves find alternative ways to steal Americans’ personal information and money.

Report | Arizona PIRG Education Fund

According to a new report by the Arizona PIRG Education Fund, one year after a new law, robocalls are down and phone company compliance is up. However, robotexts are skyrocketing.

News Release | Arizona PIRG Education Fund

According to a new report by the Arizona PIRG Education Fund and Frontier Group, gas pipeline incidents across the U.S. were serious enough to require reporting to the federal government at the equivalent of one every 40 hours from 2010 through nearly the end of 2021. 

Report | Arizona PIRG Education Fund

A new Arizona PIRG Education Fund and Frontier Group report documents that gas pipeline incidents across the U.S. were serious enough to require reporting to the federal government at the equivalent of one every 40 hours from 2010 through nearly the end of 2021. Of the nearly 2,600 incidents reported between 2010 and 2021, 850 resulted in fires and 328 in an explosion. Those incidents killed 122 people and injured more than 600. The total costs to communities from items such as property damage, emergency services, and the value of intentionally and unintentionally released gas, totaled nearly $4 billion.

News Release | Arizona PIRG Education Fund

Consumer, public health, community, business, environmental, clean energy, and faith-based entities along with residents of Randolph and SRP ratepayers applauded the Commission for once again rejecting Salt River Project’s proposal to add 16 gas units at a cost of nearly $1 billion in ratepayer money.

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