TexPIRG Ban Roundup & CFPB Homepage 2017

What's New

Report | U.S. PIRG | Financial Reform

Student, Education, and Consumer Groups Defend CFPB To Congress

On February 13, nearly 60 local, state and national student advocacy, professional, consumer, educational, faith and other organizations sent a letter to Congressional leaders expressing "strong support for the crucial work the Consumer Financial Protection Bureau (CFPB) does on behalf of student loan borrowers." The "borrower-focused" letter also urged Congress "to ensure the agency remains well-positioned to solve borrowers’ problems, which includes protecting the Bureau’s single-Director structure and its independent funding, and maintaining Director Richard Cordray until his term ends.

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News Release | U.S. PIRG | Consumer Protection

Court to Rehear CFPB’s Constitutionality

Statement by Mike Landis, Litigation Director at U.S. PIRG, about today’s decision by the D.C. Circuit Court of Appeals to rehear en banc the panel ruling against the CFPB’s independent leadership. 

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News Release | Consumer Protection

Unilever: Go Toxic-Free

On Valentine’s Day, consumer groups thank Unilever for great first step in disclosing fragrance ingredients and call on personal care giant to go toxic-free.

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Blog Post | Health Care

PIRG applauds decisions blocking health insurance mega-mergers | Jesse Ellis O'Brien

This week, in a big win for consumers, a district court took action to block the proposed merger between health insurance giants Anthem and Cigna. This decision follows a ruling last month that blocked the proposed merger of two more of the nation’s biggest for-profit health insurers, Aetna and Humana. These decisions come after months of work by U.S. PIRG and a broad coalition of consumer and health care groups, urging close scrutiny of the mergers from state and federal regulators and raising questions and concerns about the potential impact of the mergers.

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News Release | Public Health

Statement on Unilever’s Decision to Disclose Fragrance Ingredients in Personal Care Products

TexPIRG applauds personal care product giant Unilever US, the maker of popular brands like Dove and Axe, for its announcement today that it will increase fragrance ingredient transparency in its personal care brands.

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News Release | U.S. PIRG | Financial Reform

Overdrafts continue to hit students hard on campus

Today, the Consumer Financial Protection Bureau (CFPB) released a report shining a spotlight on contracts between banks and colleges to promote debit cards on campus.  Students continue to get hit hard with overdraft fees attached to their campus bank accounts. According to the report, nearly one in ten consumers in the population with student accounts incurred 10 or more  overdrafts per year, paying, on average, $196 in overdraft fees alone. Below is a detailed analysis by US. PIRG's Chris Lindstrom, who championed the protections that the CFPB is reporting on. This report is one more example of why we need a strong CFPB. 

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News Release | U.S. PIRG | Consumer Protection

Consumer Advocates Concerned By Court Ruling Overturning Ban on High-Powered Magnets

We've joined leading consumer and pediatrician organizations in a joint news release with a sharp critique of a U.S. appellate court decision overturning a U.S. Consumer Product Safety Commission ban on the sale of high-powered small magnets (some as small as BBs) that pose a severe ingestion problem for children and youth. As our Trouble In Toyland report released on November 22 pointed out: "Nearly 80 percent of high-powered magnet ingestions require invasive medical intervention, either through an endoscopy, surgery, or both. In comparison, only 10 to 20 percent of other foreign body ingestions require endoscopic intervention and almost none require surgery."

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News Release | U.S. PIRG | Financial Reform

Consumers Should Demand Security Freezes After Massive Yahoo Breach

In the wake of the recently-announced Yahoo data breach -- apparently the largest security breach ever, exposing the personal information of 500 million consumers -- PIRG offers consumer tips, demands that Yahoo provide free security freezes to affected consumers who could be at risk of "phishing" schemes to commit fraud on existing accounts or open new fraudulent accounts.  We also ask: Why did it take Yahoo two years to notify the public?

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News Release | U.S. PIRG | Consumer Protection

CFPB Issues Record $100 Million Fine on Wells Fargo For "Beyond Outrageous" Sales Practices

On September 8 the CFPB announced a record $100 million civil penalty plus consumer restitution against Wells Fargo, among the  nation’s largest banks, for a series of unfair and abusive sales practices by “thousands” of employees that included opening “secret” accounts for “hundreds of thousands” of existing customers, solely to meet sales goals to receive financial incentives. The CFPB action was joined by simultaneous orders announced by the U.S. Office of the Comptroller of the Currency (OCC) ($35 million civil penalty) and the City of Los Angeles ($50 million civil penalty). Our statement follows.

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

Report: Analysis of Payday Complaints Reveals Need for Stronger Federal Protections

Consumer complaints about payday loans to the Consumer Financial Protection Bureau (CFPB) show a critical need for strengthening the agency’s proposed rule to rein in payday loans and other high-cost lending, according to a report released today by the U.S. PIRG Education Fund.

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Report | TexPIRG Education Fund | Transportation

Millennials in Motion

Millennials are less car-focused than older Americans and previous generations of young people, and their transportation behaviors continue to change in ways that reduce driving. Now is the time for the nation’s transportation policies to acknowledge, accommodate and support Millennials’ demands for a greater array of transportation choices.

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Report | TexPIRG Education Fund | Transportation

Highway Boondoggles

Even though the Driving Boom is now over, state and federal governments continue to pour vast sums of money into the construction of new highways and expansion of old ones – at the expense of urgent needs such as road and bridge repairs, improvements in public transportation and other transportation priorities. Eleven proposed highway projects across the country – slated to cost at least $13 billion – exemplify the need for a fresh approach to transportation spending.

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Report | TexPIRG Education Fund | Public Health

Weak Medicine

Antibiotic-resistant bacteria infect more than 2 million people per year in the United States, causing more than 23,000 deaths. State governments, the FDA and other branches of the federal government should take steps to protect human health from the antibiotic-resistant bacteria that can develop on factory farms.

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Report | TexPIRG Education Fund | Public Health

Ending the Abuse of Antibiotics in Livestock Production

Able to combat potentially lethal illnesses such as pneumonia, bacterial meningitis, rheumatic fever and even life-threatening infections developed from simple scrapes or surgery, antibiotics have saved millions of lives and are one of our most important public health tools. Despite their significance, however, overuse and misuse threatens the efficacy of these precious drugs. Among the biggest abuses, often antibiotics are given to healthy animals as a production tool, and not to treat illness.

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Report | TexPIRG Education Fund | Budget

Offshore Shell Games

Many large U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens—countries with minimal or no taxes. By booking profits to subsidiaries registered in tax havens, multinational corporations are able to avoid an estimated $90 billion in federal income taxes each year. These subsidiaries are often shell companies with few, if any employees, and which engage in little to no real business activity.

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Blog Post | Consumer Protection

Delayed CFPB/Other Wall Street Reform Rollbacks Happening Today On House Floor | Ed Mierzwinski

Last month the House canceled floor consideration of the Financial Services and General Government Appropriations bill. FSGG is back on the floor today and tomorrow. We urge support of amendments to protect the Consumer Financial Protection Bureau (CFPB) but, since they won't pass, we urge a no vote on the bill. Here's an updated excerpt from my previous blog.

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Blog Post | Consumer Protection

Court Rejects PIRG-Opposed Swipe Fee Settlement With Visa/Mastercard | Ed Mierzwinski

Today, a panel of the U.S. Court of Appeals for the Second Circuit threw out a preliminary $7.25 billion settlement between Visa and Mastercard and any merchant accepting credit cards (including U.S. PIRG), ruling that despite that seemingly massive payment for past practices that the settlement gave inadequate relief to merchants going forward, as it essentially immunized the networks for any future illegal conduct while providing mostly illusory benefits. Since we accept credit cards from our members, we, joined by Consumer Reports, had formally objected to the settlement as consumer advocates who also happen to be merchant class members (most merchant associations also objected).

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Blog Post | Consumer Protection

House Launches Frenzy of Attacks on CFPB, Public Protections | Ed Mierzwinski

Today and tomorrow the House floor showcases a variety of special-interest backed bills designed to eliminate public protections and weaken financial reform. Action starts soon with an attempt to override the President's veto of legislation to wipe away a new Department of Labor rule designed to protect hard-earned retirement savings from Wall Streeters seeking their "share" of your own share. Then, the House will consider the massive FSGG Appropriations bill, which rolls back the independence and authority of the CFPB and other financial reforms. Finally, they've teed up a bill to eliminate the Supreme Court's long-standing "Chevron doctrine," which says that courts must defer to expert agencies in certain circumstances. Without the doctrine in place, polluters and wrongdoers will have more opportunities to challenge public protections.

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Blog Post | Transportation

Clean Transportation Doesn’t Need To Be A Distant Utopia | John Olivieri

For many, when they think of combating global warming, they think of solar panels on rooftops and eliminating coal fired power plants. But, the truth is, there is not an effective solution to address global warming that does not deal with transportation as well.

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Video Blog | Consumer Protection

Last Week Tonight with John Oliver: The retirement industry is a minefield -- but here’s the answer

In this week’s episode of “Last Week Tonight,” host John Oliver called out three main problems hurting consumers when it comes to retirement: First, financial advisers aren’t currently required to work in their clients’ best interest. Second, high fees compound over time. Third, actively managed investment funds aren’t the answer. 

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Defend the CFPB

Tell your senators to oppose the “Financial CHOICE Act,” which would gut Wall Street reforms and destroy the Consumer Financial Protection Bureau as we know it.

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