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Report | WISPIRG Foundation | Financial Reform

Predatory Loans & Predatory Loan Complaints

This is the seventh in a series of reports that review complaints to the CFPB. In this report we explore consumer complaints about predatory loans, categorized in the database as payday loans, installment loans, and auto title loans. This is our first report to incorporate an analysis of consumer narratives or written explanations of problems—an addition to the database we advocated for with Americans for Financial Reform and achieved last year.

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Blog Post | Public Health

Calling for Big Action on Antibiotics in the Big Apple | Steve Blackledge

Last week, we were in New York City, where the United Nations General Assembly spent an entire day discussing antibiotic resistance, “the biggest threat to modern medicine.” Experts estimate that more than 700,000 people worldwide die from antibiotic-resistant infections each year, including 23,000 in the United States—a number that could grow to 10 million globally by 2050.

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Blog Post | Consumer Protection

Will Wells Fargo CEO Tell Senate "No Clawbacks" of Exec's Golden Parachute? | Ed Mierzwinski

Wells Fargo CEO John Stumpf goes before the Senate Banking Committee Tuesday (9/20) to explain the recent $185 million in combined civil penalties by the CFPB and other regulators over a sales goals incentive scandal that led to employees opening some 2 million fake, secret accounts without the knowledge of customers. How will he respond to the growing public clamor for a clawback of bonuses paid his top retail executive Carrie Tolstedt, whose retirement with a $125 million golden parachute package had been announced earlier this summer? 

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Blog Post | Budget, Transportation

Community Forums this Fall: Transportation and Equity in Wisconsin | Peter Skopec

This fall, WISPIRG and our partners at the Sierra Club, 1000 Friends of Wisconsin and WISDOM are hosting a series of community events across Wisconsin. As state leaders begin to debate the future of transportation funding in Wisconsin, we'll explore the impacts of the transportation system on communities in our state and discuss the importance of investing in local priorities. Join us for an event near you by RSVPing at tinyurl.com/TranspoForumsWI!

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Blog Post | Consumer Protection

Wall Street Ramps Up Attacks on Wall Street Reform | Ed Mierzwinski

On Friday, the House overwhelmingly approved a Wall Street-driven proposal to weaken oversight of private equity firms, taking a chunk out of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. But wait, there's so much more: On Tuesday the House Financial Services Committee takes up the so-called "Financial Choice Act," which eviscerates most of Dodd-Frank's key reforms, from stripping powers of the Financial Stability Oversight Council to repealing the Volcker Rule, which reins in risky betting practices that use depositors' money. As for the CFPB (which just this week issued its biggest fine to date, $100 million against Wells Fargo Bank for opening hundreds of thousands of fake and secret consumer accounts to meet sales goals), the proposal would defund and defang it and delay or stop its efforts to rein in unfair practices of payday lenders, debt collectors and banks. Many of the Financial Choice Act's provisions also pose threats as budget bill "riders."

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News Release | WISPIRG Foundation | Transportation

New Report: Unneeded Wisconsin Highway Expansions Will Waste Billions That Should Be Spent on Badly Needed Local Road Repairs, Other Transportation Statewide

A new WISPIRG Foundation report offers a simple, common-sense way to reform transportation spending in Wisconsin.  The state is currently slated to spend nearly $3 billion on four unneeded highway expansion projects, such as the double decker expansion of I-94 in Milwaukee.  Meanwhile, local transportation infrastructure is in disrepair.  We could implement all the recommendations of the 2013 bi-partisan Transportation Policy and Finance Commission for local road repair, transit, bicycle and pedestrian infrastructure, and the rehabilitation of state-owned roads, for the next 10 years, for just over $1 billion. The report, Fork in the Road: Will Wisconsin Waste Money on Unneeded Highway Expansion or Invest in 21st Century Transportation Priorities?, makes clear the choice before state leaders – either spend taxpayer dollars on these highly questionable highway expansion projects, or invest in urgent and underfunded local and state-owned road repair and other 21st century priorities.  

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News Release | WISPIRG Foundation | Public Health

Stop the Superbugs

Local doctors in Wisconsin are calling upon the Obama Administration to immediately restrict the use of antibiotics on factory farms when animals are not sick. The doctors are part of a nationwide coalition of more than 2,000 medical professionals working against the declining effectiveness of antibiotics due to overuse and misuse.

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News Release | WISPIRG Foundation | Budget

Study: 70% of Fortune 500 Companies Used Tax Havens in 2013

Tax loopholes encouraged more than 70 percent of Fortune 500 companies – including Johnson Controls here in Wisconsin – to maintain subsidiaries in offshore tax havens as of 2013, according to “Offshore Shell Games,” released today by WISPIRG Foundation and Citizens for Tax Justice. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 62 percent of the total, or $1.2 trillion.

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News Release | WISPIRG Foundation | Transportation

New Survey: Wisconsin Brain Drain Partly Because Youth Seek Alternatives to Driving?

For the last decade, Wisconsin has been experiencing a “brain drain,” with more college graduates leaving the state than staying. One factor could be our crumbling transit infrastructure and lack of driving alternatives, according to a new WISPIRG Foundation report.  The new survey revealed that most Wisconsin college students want the ability to get around without a car, and many may leave Wisconsin without that option. This demand starkly contrasts with Wisconsin transportation policies, which often favor extravagant highway expansion projects over critical transit upgrades.

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News Release | WISPIRG | Tax

New Report: Offshore Tax Dodging Hurts Wisconsin Taxpayers, Businesses

A new report by WISPIRG estimates the fiscal impact of closing one loophole in the state tax code on Wisconsin taxpayers and the services they depend on, including education, public safety, and transportation. The report, The Tax Haven Tradeoff: How Offshore Tax Haven Abuse Hurts Wisconsin Taxpayers and Businesses, found that closing the “water’s edge” loophole would save Wisconsin taxpayers $28.8 million annually. 

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Report | WISPIRG Foundation | Safe Energy

The High Cost of Nuclear Power

With the state considering solutions to reduce our global warming pollution, a new WISPIRG report finds that renewable energy sources can produce far more electricity than nuclear plants for less money.

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Report | WISPIRG Foundation | Democracy

Saving Dollars, Saving Democracy

In this report, WISPIRG Foundation finds that a more streamlined and automatic system linking existing databases with the state voter rolls could free up significant resources at the local level.

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Report | WISPIRG | Transportation

Spending the Stimulus

This report highlights the tremendous opportunity Wisconsin has to fund projects that repair crumbling roadways and bridges, provide low cost transportation choices, retrofit streets for safe walking and biking, advance energy independence, and generally put thousands of Americans to work during the current economic crisis and in order to jump-start a 21st century transportation system.

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Report | WISPIRG | Budget

Failing the Bailout

Without better oversight, the TARP bank bailout program will continue to fail, according to a report from a watchdog group.  But U.S. PIRG, the Washington D.C. office of WISPIRG, expects today’s expected TARP reform announcements from the Obama Administration will include major improvements in oversight and accountability that will also benefit from continued use of the new U.S. PIRG TARP report card for evaluation.

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Report | WISPRIG Foundation | Health Care

Health Care in Crisis

This report examines three important sources of unproductive spending in health care. We conclude with a package of urgently needed reforms which target those causes, improve quality of care, and rein in unnecessary spending. As part of comprehensive health reform, these policies will enable America to emerge from this crisis with a health system that consumers and businesses can afford and families can depend on.

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Blog Post | Financial Reform

President’s Recess Appointment Gives Watchdog Teeth It Needs To Protect Consumers From Wall Street or Payday Lender Financial ShenanigansBruce SpeightEd Mierzwinski

Kudos to President Obama for standing up for consumers this week by making a recess appointment of former Ohio Attorney General Richard Cordray to head the new Consumer Financial Protection Bureau. The President’s action means that the CFPB now has all its powers to protect the public from unfair financial practices, whether by banks or other financial firms, such as payday lenders and credit bureaus.

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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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