Financial Reform

CFPB Criticizes Banks Re Account Opening and Overdrafts, Offers Consumer Tips

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

Today, the CFPB is holding a field hearing in Louisville on problems consumers face when opening bank accounts. It finds that big banks frequently offer consumers expensive accounts where they risk overdraft fees instead of affordable accounts. Further, the CFPB finds that the practices of specialty "bad check" credit bureaus make it harder to open accounts. The CFPB issued warnings to both the banks and credit bureaus while providing consumers with new tips and advice.

Debating trade and consumer protection in Brussels today

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

I am in Brussels today debating consumer protection and the proposed US-European trade treaty known as the TransAtlantic Trade and Investment Partnership or TTIP. Today's public event, and a second public meeting tomorrow (Wednesday with live webstream 9am-noon DC time) comparing the CFPB to its European counterparts, are sponsored by the PIRG-backed TransAtlantic Consumer Dialogue.

News Release | WISPIRG | Financial Reform

Bills Would Encourage Predatory Lawsuits Against WI Consumers

A pair of bills currently making its way through the state legislature would drastically reduce the proof requirements for debt collection lawsuits against Wisconsin consumers and open the door for out-of-state debt buyer companies to clog the state’s courts with unsubstantiated, frivolous lawsuits. Senate Bill 92 is to be heard in committee on Tuesday, 12/15. Its Assembly companion, AB 117, was passed in November. Governor Walker’s Department of Financial Institutions voiced serious concerns about a similar bill in 2014.

House Committee Launches Trojan Horse Assault On State Privacy Laws

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

This afternoon (Tuesday, 8 December), the U.S. House Financial Services Committee launches a massive attack on state privacy laws. Hidden inside a seemingly modest proposal to establish federal data breach notice requirements is a Trojan Horse provision designed to to take state consumer cops off the privacy beat, completely and forever. That's wrong, because the states have always been key first responders and leaders on privacy threats that Congress has ignored, from credit report accuracy and identity theft to data breaches and do-not-call lists.

Privacy, We've Got Tips and Ideas For You, Congress and Regulators, Too

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

Problems with privacy and data security are all over the news these days. We've got you covered, from releasing a new report and consumer tips on the security freeze today to testifying to Congress (last week) on payment card security and speaking on a panel at the FTC tomorrow on Internet lead generation (what's that?). Oh, and we're waiting for answers to our questions to the CFPB about the credit bureau Experian joining the ranks of the breached. We've been busy as we explain in this "roundup" blog entry.

Resource | Financial Reform

Letter to CFPB & FTC on Experian/T-Mobile Data Breach

Following a breach of a subsidiary of the nationwide credit bureau Experian affecting 15 million customers and applicants of T-Mobile, a number of state PIRGs have joined other leading privacy and consumer groups in a request for investigations by the CFPB and FTC.

News Release | WISPIRG Foundation | Financial Reform

Top 10 List: How the CFPB Is Working for Consumers

The Consumer Financial Protection Bureau (CFPB) turns four years old on July 21. To celebrate and increase public awareness of the agency, WISPIRG Foundation has created a new webpage, “Meet the CFPB: Just Ten of the Ways It Works for You.”

News Release | WISPIRG Foundation | Financial Reform

New Report: Mortgage Problems Rank #1 at CFPB for Consumer Complaints

Mortgage problems were the top source of complaints to the Consumer Financial Protection Bureau (CFPB), according to a report released today by WISPIRG Foundation. The report also found that Bank of America was the most complained about company in Wisconsin for mortgage problems. 

Report | WISPIRG Foundation | Financial Reform

Mortgages and Mortgage Complaints

This is the sixth in a series of reports that review complaints to the CFPB nationally and on a state-by-state level. In this report we explore consumer complaints about mortgages, with the aim of uncovering patterns in the problems consumers are experiencing with mortgage originators and servicers.

Report | WISPIRG Foundation | Financial Reform, Tax

Picking Up The Tab 2015

Every year, corporations and wealthy individuals use complicated gimmicks to shift U.S. earnings to subsidiaries in offshore tax havens – countries with minimal or no taxes – in order to reduce their federal and state income tax liabilities by billions of dollars. While tax haven abusers benefit from America’s markets, public infrastructure, educated workforce, security and rule of law – all supported in one way or another by tax dollars – they continue to avoid paying for these benefits.

Pages

Subscribe to RSS - Financial Reform

Support us

Your donation supports WISPIRG'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