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

Getting good data on rate designs is worth the effort | Diane Brown

There’s been good national conversation in recent years around the need for transparency and responsiveness from electric utilities and regulators when it comes to data on rates and pilots, assessing impacts on consumers, and consumer outreach and education. At the local level, though, it can take quite a bit of work to turn guidelines into reality. 

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Blog Post | Consumer Protection

Tucson Unanimously Adopts the 2018 International Energy Conservation Code | Aaron Kane

Last night, Mayor Rothschild and the Tucson City Council unanimously adopted the 2018 International Energy Conservation Code as recommended by the Tucson-Pima County Joint Consolidated Code Committee. The Committee’s recommendation was developed as a result of a rigorous, ten-month-long stakeholder process open to all interested participants. We are quite pleased with this vote.

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Blog Post | Consumer Protection

Let's Celebrate Energy Efficiency | Aaron Kane

Energy Efficiency Day celebrates and recognizes energy efficiency as the quickest, cheapest, and cleanest way to address our growing energy needs. With technological advances and increased energy consciousness, consumers now have more ways than ever to make our homes and businesses more efficient, reduce our energy usage, and save money on our electric bills.

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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 | Arizona PIRG Education Fund | Consumer Protection

New Report: Protecting Consumers One Year After Equifax Breach

Just over a year ago, Equifax announced that hackers had breached its system and accessed the data of nearly 150 million U.S. consumers. To mark the anniversary of that notorious announcement, the Arizona PIRG Education Fund released a report containing suggestions on how elected officials and consumers can safeguard personal informatio

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News Release | Arizona PIRG Education Fund | Consumer Protection

SUVs, CROSSOVERS AND PICKUPS WITH HIGH MPG PERCENT INCREASES SELL BETTER

A new analysis by the Consumer Federation of America shows that SUVs, pickups and crossovers, whose MPGs (miles per gallon) increased by over 15% between 2011 to 2017, had a 70% increase in sales. On the other hand, those same vehicles with less than a 15% increase in MPGs from 2011 to 2017 only experienced a 50% increase in sales, 20% less. 

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News Release | Arizona PIRG Education Fund | Consumer Protection

Tenth anniversary for life-saving protections for children’s products celebrated

The number of recalls for lead-contaminated toys has dropped by 97 percent in the United States in the decade since Congress passed the Consumer Product Safety Improvement Act (CPSIA). The CPSIA empowered the Consumer Product Safety Commission (CPSC) to protect children from lead-contaminated toys and other dangerous toys, cribs and car seats. 

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

32nd Annual “Trouble in Toyland” Survey Finds Dangerous Toys on Store Shelves

Stores nationwide are still offering dangerous and toxic toys this holiday season and, in some cases, ignoring explicit government safety regulations in the process, according to U.S. Public Interest Research Group (PIRG) Education Fund’s 32nd annual Trouble in Toyland report. The survey of potentially hazardous toys found that, despite recent progress, consumers must still be wary when shopping for children’s gifts.

 

 

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

Target Removes Lead-Laden Fidget Spinner From Website, But Still Available For Sale In-Store

Since late yesterday afternoon, Target appears to have made the 33,000 ppm-lead containing Fidget Wild Premium Spinner Brass unavailable for sale on its website. U.S. PIRG Education Fund staff went to a Target store today and found the Fidget Wild Premium Spinner Brass was still available for sale in-store, despite the website saying it was unavailable there. Also yesterday, one of the CPSC’s Commissioners, Elliot F. Kaye, re-stated his opposition to the CPSC’s guidance and the acting chairman's statement when he tweeted, “Seems obvious fidget spinners are toys and should comply with all applicable federal safety standards.”

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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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Report | Arizona PIRG Education Fund | Consumer Protection

Big Banks, Big Complaints

The CFPB’s searchable complaint database is the newest of a set of federal government consumer complaint databases that help consumers make better economic and safety choices by reviewing other’s experiences and searching for problems or product recalls. The transparency also helps firms improve their products and services. In short, transparency improves the way markets work.

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Report | Arizona PIRG Education Fund | Consumer Protection

Trouble In Toyland

The 2012 Trouble in Toyland report is the 27th annual PIRG survey of toy safety. In this report, the Arizona PIRG Education Fund provides safety guidelines for consumers when purchasing toys for small children and provides examples of toys currently on store shelves that may pose potential safety hazards.

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Report | Arizona PIRG Education Fund | Consumer Protection

Big Banks Bigger Fees 2012

Since Congress largely deregulated consumer deposit (checking and savings) accounts beginning in the early 1980s, the state PIRGs have tracked bank deposit account fee changes and documented the banks’ long-term strategy to raise fees, invent new fees and make it harder to avoid fees.

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Report | Arizona PIRG Education Fund | Consumer Protection

The Campus Debit Card Trap

Banks and other financial firms are taking advantage of a variety of opportunities to form partnerships with colleges and universities to produce campus student ID cards and to offer student aid disbursements on debit or prepaid cards. In addition to on-campus services, such as student ID functions offered on the card, some cards offer traditional debit card services linked to bank accounts; other cards provide additional reloadable prepaid card functions. The disbursement of financial aid and university refunds is the most significant partnership identified.

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Report | Arizona PIRG Education Fund | Consumer Protection

Getting All the Cards on the Table:

States do have options to increase transparency so consumers have better information and are better protected against unreasonable rate increases. One important opportunity is through a process called rate review, which can potentially empower consumers by requiring insurers to make information on why rates are increasing publically available.

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Blog Post | Consumer Protection

How to protect yourself from the security bug Heartbleed | Diane Brown

Heartbleed is a recently discovered hole in the security software used by most major websites – everyone from Amazon to Yahoo to eBay – that may have allowed hackers to access consumers’ passwords or credit card information. Here are our recommendations for protecting yourself.

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Blog Post | Consumer Protection

Target says "Oops, 70-110 million consumers hacked." | Diane E. Brown

Target is now saying, reports the New York Times, that "a range of 70 million to 110 million people," not the original 40 million customers, had their credit or debit card numbers hacked in December (or possibly at other times). Even worse, Target is admitting that the database stolen from the big-box retailer included a lot more than credit or debit card numbers and their associated security codes and expiration dates.

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Blog Post | Consumer Protection

The CFPB is now taking your credit bureau complaints | Diane E. Brown

Excellent news! The Consumer Financial Protection Bureau is now taking your complaints about credit bureaus and credit reports. Click here to go to the CFPB credit bureau complaint page.

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News Release | U.S. PIRG Education Fund

The U.S. Food and Drug Administration (FDA) has confirmed today that the drug manufacturers Dr. Reddy’s and Perrigo have initiated a voluntary recall of all of their generic versions of Zantac (ranitidine) -- commonly used to treat heartburn -- due to carcinogen contamination.

News Release | U.S. PIRG Education Fund

Despite more than 50 infant deaths from inclined sleepers, including the Fisher-Price Rock ‘n Play and the Kids II Rocking Sleeper, many versions of this type of product remain for sale and in homes. The U.S. Consumer Product Safety Commission (CPSC) is proposing a new rule that would virtually end the sale of inclined sleepers. 

News Release | Arizona PIRG Education Fund

A new report from Arizona PIRG Education Fund and Frontier Group highlights municipalities across the country that are making the switch to electric buses and reaping the benefits on dual fronts -- reducing emissions as well as operating expenses.

News Release | U.S. PIRG Education Fund

A new analysis of publicly available information from the FDA by U.S. Public Interest Research Group Education Fund finds only 26 percent of a class of recalled blood pressure medications have been assessed for carcinogen contamiantion -- and the majority had some lots with higher levels than the FDA considers safe.

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