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News Release | WISPIRG | Financial Reform

SENATE CONFIRMS CFPB DIRECTOR CORDRAY, “GOOD NEWS FOR CONSUMERS AND FIRMS THAT WANT TO PLAY FAIR”

The July 16, 2013 confirmation of Richard Cordray to head the CFPB for a full term is good news for consumers, and for firms that want to play fair in the financial marketplace. The CFPB was created to rein in the reckless Wall Street practices that blew up our economy almost five years ago. Big banks that rely on consumer tricks and schemes to make money have wanted to kill the CFPB ever since, and for good reason: The CFPB has been enforcing critical consumer protection laws, and already forced Capital One to return $140 million in unfair credit card fees to consumers.
 

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Report | WISPIRG | Health Care

Top 20 Pay for Delay Drugs

Too often, consumers are forced to shoulder a heavy financial burden, or even go without needed medicine, due to the high cost of brand-name drugs. Our research indicates that one significant cause is the practice called “pay for delay,” which inflates the drug prices paid by tens of millions of Americans.
 

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News Release | WISPIRG | Health Care

Twenty Top Generic Drugs Delayed By Industry Payoffs

Wisconsinites with cancer, heart disease, epilepsy and other conditions have been forced to pay an average of 10 times more than necessary for at least 20 blockbuster drugs, according to a report released by the Wisconsin Public Interest Research Group (WISPIRG) and Community Catalyst. The report, “Top Twenty Pay-for-Delay Drugs: How Drug Industry Payoffs Delay Generics, Inflate Prices and Hurt Consumers,” reveals that these drugs were subject to an industry practice called “pay for delay,” in which brand name pharmaceutical companies pay off generic drug manufacturers to keep lower cost equivalents off the market, forcing consumers to pay higher brand-name drug prices.
 

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News Release | WISPIRG | Financial Reform

WISCONSINITES TELL SENATOR JOHNSON TO STOP CODDLING PREDATORY LENDERS AND BLOCKING CONSUMER FINANCIAL PROTECTION

The Wisconsin Public Interest Research Group (WISPIRG) and Americans for Financial Reform (AFR) delivered to the office of Sen. Ron Johnson the signatures of 5,180 citizens of Wisconsin, who call on the Senate to confirm Richard Cordray to a full term as director of the Consumer Financial Protection Bureau. Under current Senate rules, 60 votes would be required to confirm the nomination but that favorable outcome for consumers is blocked by Senator Johnson and 42 other Senators who have pledged to oppose Cordray unless the CFPB is first weakened.
 

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Blog Post | Democracy

Wisconsin Bill Would Double Campaign Contribution Limits, Increase Big Money in Politics | Bruce Speight

On June 10, the Wisconsin General Assembly passed a bill that, if passed by the Senate, would double the contribution limits to Wisconsin political campaigns and allow big money to further drown out the voices of Wisconsin voters. The bill also contains a provision to implement an online registration system — a great idea, but not enough to make this big-money bill worth passing.
 

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