Blog

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

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

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.

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

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

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).

House Launches Frenzy of Attacks on CFPB, Public Protections

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

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.

Clean Transportation Doesn’t Need To Be A Distant Utopia

By | John Olivieri
21st Century Transportation Campaign Director

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.

Pages

Subscribe to Blog

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.

Support Us

Your donation supports TexPIRG's work to stand up for consumers on the issues that matter, especially when powerful interests are blocking progress.

Consumer Alerts

Join our network and stay up to date on our campaigns, get important consumer updates, and take action on critical issues.
Optional Member Code