Consumer Tips

PROTECTING YOURSELF IN A COMPLEX MARKETPLACE — Our researchers and attorneys provide key tips for how you can shop for the best bank, get the best car loan, protect against identity theft, and more.

The Best Ways to Protect Yourself

Being a consumer in today’s marketplace can be tough. Financial decisions in particular often require navigating a torrent of misleading advertisements and pages of jargon-filled small print. Even the simplest choices — everyday financial decisions like opening a credit card, creating a bank account, applying for a loan, or sorting through cell phone contracts — can take time, energy and knowledge that too many of us don’t have.
   
Many financial institutions don’t set out to make it easier for their customers:

  • 1 out of every 20 Americans — millions of consumers — have errors on their credit reports significant enough to raise their rate on loans.
  • Financing cars through dealerships costs consumers more than $25.8 billion in additional hidden interest.
  • From 2005 to 2010, identity theft rose by 33%. In 2012, an estimated 12.6 million Americans became victims. That is 1 victim every 3 seconds. 
  • Banks made around $11 billion in overdraft fees in 2015, fees they pitched as “overdraft protection” but actually cost consumers more.

Despite these practices, there are ways to protect yourself. We want to help. This is why we’ve created the following tip sheets based on common complaints to the Consumer Financial Protection Bureau and the Federal Trade Commission. Read on. Protect yourself from becoming a statistic.

File a complaint if you have a problem

For all sorts of everyday consumer problems, there are government resources that can help. Federal agencies like the Consumer Financial Protection Bureau and Consumer Product Safety Commission exist to protect us from unfair or dangerous products. Submitting complaints to government agencies can help resolve your problem AND it helps these agencies hold companies accountable for unfair practices. For more information, consult our tip sheet on the subject, which includes information on how to contact the CFPB with financial complaints, the CPSC with toy and other product safety complaints, the NHTSA with car safety complaints, and DOT with air travel complaints: How to File a Consumer Complaint and Use Government Databases.

Keeping Track of Your Money:

Credit Reports, Credit Scores, and Identity Theft:

Common Consumer Problems:

Please note that these tips are not intended as, nor should they be construed as, legal advice. If you need legal advice dealing with a consumer problem, consult an attorney.

Issue updates

News Release | Illinois PIRG Education Fund | Consumer Protection

Testing Finds 7 out of 10 Baby Products Contain Toxic Flame Retardants

In its new report, "Testing for Toxics," Illinois PIRG shows the results of testing of baby products from the Chicago area for chlorinated Tris, a flame retardant that is a proven mutagen and likely carcinogen.  Seven out of ten products found at popular chains contained  the chemical, and two of those had no label indicating its presence.  These products included diaper changing kits, car seats and cradle pads.   

> Keep Reading
Report | Illinois PIRG Education Fund | Consumer Protection

Testing for Toxics

In an effort to better understand the prevalence of toxic chemicals that pose a risk to children’s health, Illinois PIRG Education Fund purchased ten common baby products and tested these products for chlorinated Tris, or TDCPP, a chemical that has been linked to cancer, mutagenicity, hormone disruption, neurological damage, and infertility.

> Keep Reading
Report | Illinois PIRG Education Fund | Consumer Protection

Trouble in Toyland

The 2011 Trouble in Toyland report is our 26th annual survey of toy safety. In this report, we provide safety guidelines for consumers when purchasing toys for young children and provide examples of toys currently on store shelves that may pose potential safety hazards.

> Keep Reading

Big Banks, Bigger Fees

Since Congress largely deregulated consumer deposit (checking and savings) accounts beginning in the early 1980s, the PIRGs have tracked bank deposit account fee changes and documented the banks’ long-term strategy to raise fees, invent new fees and make it harder to avoid fees. 

> Keep Reading

Big Banks, Bigger Fees

Since Congress largely deregulated consumer deposit (checking and savings) accounts beginning in the early 1980s, the PIRGs have tracked bank deposit account fee changes and documented the banks’ long-term strategy to raise fees, invent new fees and make it harder to avoid fees. 

> Keep Reading

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News Release | U.S. PIRG Education Fund

U.S. PIRG Education Fund has released a report with the Student Borrower Protection Center and Consumer Action. The report makes recommendations to the Consumer Financial Protection Bureau (CFPB) to upgrade its consumer complaint tool, including the public consumer complaint database, so COVID19-related complaints can be handled more quickly and tracked better.

News Release | Illinois PIRG Education Fund

The Chicago City Council today passed a resolution calling on Gov. J.B.  Pritzker and the Illinois General Assembly to reform the troubled Peoples Gas pipe replacement program. The program has been beset by management missteps, cost overruns, and an inability to reduce pipeline failure rates. The program is increasingly unaffordable for many Chicago residents: in 2019, Chicagoans fell $60 million behind on their heating bills and Peoples Gas sent out more than 300,000 disconnection notices. 

News Release | Illinois PIRG Education Fund

The Illinois Commerce Commission has agreed to settle a lawsuit filed by Illinois PIRG Education Fund and GlidePath that alleged it deliberately excluded select consumer advocates and industry experts from participating in its NextGrid Study process, while allowing ComEd and Ameren to fund, shape, and approve a report designed to influence Illinois energy policy. 

News Release | Illinois PIRG Education Fund

Illinois Attorney General Kwame Raoul is calling on the country’s top online marketplaces to crack down on price gouging amidst the novel coronavirus (COVID-19) outbreak. Raoul joined a bipartisan group of 33 attorneys general, led by Pennsylvania Attorney General Josh Shapiro along with co-leading Attorneys General Hector Balderas (NM), William Tong (CT), and T.J. Donovan (VT), in sending a letter today urging the companies -- Amazon, Craigslist, eBay, Facebook and Walmart -- to quickly implement preventative measures on their platforms to ensure that consumers don’t get taken advantage of during this public health crisis.

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