Defend the Consumer Bureau

For more than 20 years, Consumer Program Director Ed Mierzwinski has helped us stand up against big banks and credit card companies.

A CONSUMER COP ON THE FINANCIAL BEAT

You work hard to earn your money. You should be able to save, invest and manage your money without fear of being trapped, tricked or ripped off by the institutions you are trusting with your financial future.

That’s why we need strong consumer protections on Wall Street. And from the 2008 economic collapse, we know how big of an impact those institutions can have on our economy when they play fast and loose with our money. It made it clear: Americans need a watchdog agency on Wall Street, devoted to creating and enforcing fair, clear and transparent rules to protect consumers.

So in 2010, we helped create the Consumer Financial Protection Bureau (CFPB) to be our consumer cop on the financial beat.

THE CFPB GETS THE JOB DONE

Despite the fact that the CFPB is not widely known, they’ve been hugely successful at working for consumers, returning nearly $12 billion to more than 29 million people who were ripped off by companies that broke the law … in just six years.

The Consumer Bureau holds big banks, debt collectors and lenders accountable. Here are a few examples of some of the cases the CFPB has taken on to protect consumers:

When American Honda Finance used discriminatory pricing to rip off African-American, Hispanic and Asia/Pacific Island borrowers who paid too much for car loans, the CFPB returned $24 million to these consumers.

The Department of Justice and 47 states joined the CFPB in a $216 million action against JP Morgan Chase Bank for illegal debt collection practices affecting over half a million Americans.

When it was discovered that Wells Fargo employees were opening unauthorized debit and credit accounts using their customer's information, the CFPB fined Wells Fargo $100 million for fraud.

The CFPB fined Equifax and TransUnion — two of the three largest credit reporting agencies — $5 million for selling inflated credit scores to consumers that were different from ones actually used by lenders and returned $17 million to those harmed by the deception.

In addition, the Consumer Bureau has helped level the financial playing field, educating veterans, senior citizens, new homeowners, college students and low-income consumers on how to keep their finances secure.

The Consumer Bureau's success should be earning it applause in Washington. Yet instead of cheering on the agency, the Trump administration and many members of Congress are pushing to weaken or even get rid of it.

Even with the Consumer Bureau on the job, many Americans are still at risk of reckless financial practices that threaten their homes, their retirement savings and their overall well-being. That’s why we don’t simply need the Consumer Financial Protection Bureau to exist: We need to make it even better, by strengthening commonsense consumer protections.

Issue updates

Blog Post | Consumer Protection

ID Theft & Privacy Checklists | Mike Litt

Today, we're releasing our revamped Identity Theft and Online Privacy resources.

> Keep Reading
Blog Post | Consumer Protection

Protecting Consumer Privacy in the Courts | Abe Scarr

 

Along with other consumer and privacy advocacy organizations, we filed an amicus brief defending Illinois' unique-in-the-nation biometric privacy law.

> Keep Reading
Blog Post | Consumer Protection

The most efficient policeman | Abe Scarr

This morning, Illinois PIRG Education Fund and Glidepath Development, a renewable energy and energy storage developer, filed a complaint in Cook County Circuit Court against the Illinois Commerce Commission. The complaint alleges that the Commission has violated the Illinois Open Meetings Act in its management of the Next Grid study.

> Keep Reading
Blog Post | Consumer Protection

Update on Troubled Peoples Gas Pipe Replacement Program | Abe Scarr

This morning, the Illinois Commerce Commission (ICC) approved a settlement regarding 2014 spending on its troubled pipe replacement program. The settlement itself is a good outcome for ratepayers, but a far cry from the necessary reforms to the pipe replacement program itself.

> Keep Reading
News Release | Illinois PIRG Education Fund | Consumer Protection

Illinois Commerce Commission OK's Budget Busting Peoples Gas Pipe Program

The Illinois Commerce Commission voted Wednesday to approve a plan from Peoples Gas to increase spending on its troubled pipe replacement program. The vote concludes a two year investigation initiated after a 2015 audit found widespread program mismanagement.

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News Release | Illinois PIRG Education Fund | Consumer Protection

Illinois Commerce Commission OK's Budget Busting Peoples Gas Pipe Program

The Illinois Commerce Commission voted Wednesday to approve a plan from Peoples Gas to increase spending on its troubled pipe replacement program. The vote concludes a two year investigation initiated after a 2015 audit found widespread program mismanagement.

> Keep Reading
News Release | Illinois PIRG Education Fund | Consumer Protection

32nd Annual “Trouble in Toyland” Survey Finds Dangerous Toys on Store Shelves

Stores nationwide are still offering dangerous and toxic toys this holiday season and, in some cases, ignoring explicit government safety regulations in the process, according to Illinois Public Interest Research Group (PIRG) Education Fund’s 32nd annualTrouble in Toyland report

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Target Removes Lead-Laden Fidget Spinner From Website, But Still Available For Sale In-Store

Since late yesterday afternoon, Target appears to have made the 33,000 ppm-lead containing Fidget Wild Premium Spinner Brass unavailable for sale on its website. U.S. PIRG Education Fund staff went to a Target store today and found the Fidget Wild Premium Spinner Brass was still available for sale in-store, despite the website saying it was unavailable there. Also yesterday, one of the CPSC’s Commissioners, Elliot F. Kaye, re-stated his opposition to the CPSC’s guidance and the acting chairman's statement when he tweeted, “Seems obvious fidget spinners are toys and should comply with all applicable federal safety standards.”

> Keep Reading
News Release | Consumer Protection

U.S. PIRG CONSUMER ADVOCATE MIKE LITT TESTIFIES AT CONGRESSIONAL HEARING ON EQUIFAX

Our Consumer Advocate, Mike Litt, was invited by Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, to testify this week at a Congressional hearing on the Equifax data breach. This was a continuation of the committee's previously held hearing on October 5th entitled "Examining the Equifax Data Breach."

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Statement on Walmart’s Decision to Strengthen Chemical Footprint Policy

Illinois PIRG Education Fund applauds retail giant Walmart for updating its sustainability policy to restrict toxic chemicals in 90,000 products including cosmetics and skincare items, infant products, and household cleaners.

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Report | Illinois PIRG Education Fund | Consumer Protection

Trouble in Toyland 2017

For over 30 years, U.S. PIRG Education Fund has conducted an annual survey of toy safety, which has led to over 150 recalls and other regulatory actions over the years, and has helped educate the public and policymakers on the need for continued action to protect the health and wellbeing of children.

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Report | U.S. PIRG Education Fund | Consumer Protection

Lead In Fidget Spinners

While lead in toys has become less prevalent in recent years, U.S. PIRG Education Fund tested several models of one of today’s hottest toys, fidget spinners, for the toxic heavy metal. Laboratory results indicated that two fidget spinners purchased at Target and distributed by Bulls i Toy, L.L.C. contained extremely high levels of lead. U.S. PIRG Education Fund calls on Target and Bulls i Toy to immediately recall these two fidget spinners and investigate how such high levels of lead were found in these toys. Also, we call on the U.S.

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Report | Illinois PIRG Education Fund | Consumer Protection

Older Consumers in the Financial Marketplace

Older Americans are at risk of harm from predatory financial behavior. An analysis of more than 72,000 financial complaints submitted by older Americans (those 62 years of age and older) to the Consumer Financial Protection Bureau (CFPB) and contained in its Consumer Complaint Database suggests that mistreatment of older Americans by financial companies is widespread.

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

Protecting Those Who Serve

An analysis of more than 44,000 complaints submitted by active duty servicemembers and military veterans to the Consumer Financial Protection Bureau (CFPB) and contained in its Consumer Complaint Database finds that mistreatment of servicemembers by financial companies is widespread.

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Report | Illinois PIRG Education Fund | Consumer Protection

Medical Debt Malpractice

Millions of Americans are contacted by debt collectors every year over debt related to medical expenses. "Medical Debt Malpractice" is the latest (9th) in our series based on analysis of complaints in the Consumer Financial Protection Bureau's public complaint database. The report demonstrates that the CFPB is a critical agency protecting consumers against unfair financial practices and needs to be defended against special interest attacks.

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Pages

Blog Post | Consumer Protection

ID Theft & Privacy Checklists | Mike Litt

Today, we're releasing our revamped Identity Theft and Online Privacy resources.

> Keep Reading
Blog Post | Consumer Protection

Protecting Consumer Privacy in the Courts | Abe Scarr

 

Along with other consumer and privacy advocacy organizations, we filed an amicus brief defending Illinois' unique-in-the-nation biometric privacy law.

> Keep Reading
Blog Post | Consumer Protection

The most efficient policeman | Abe Scarr

This morning, Illinois PIRG Education Fund and Glidepath Development, a renewable energy and energy storage developer, filed a complaint in Cook County Circuit Court against the Illinois Commerce Commission. The complaint alleges that the Commission has violated the Illinois Open Meetings Act in its management of the Next Grid study.

> Keep Reading
Blog Post | Consumer Protection

Update on Troubled Peoples Gas Pipe Replacement Program | Abe Scarr

This morning, the Illinois Commerce Commission (ICC) approved a settlement regarding 2014 spending on its troubled pipe replacement program. The settlement itself is a good outcome for ratepayers, but a far cry from the necessary reforms to the pipe replacement program itself.

> Keep Reading
Blog Post | Consumer Protection

Public Comment on the Peoples Gas Accelerated Main Replacement Program | Abe Scarr

I prepared a public comment before the Illinois Commerce Commission, opposing their plan to approve an increase in spending on the troubled Peoples Gas pipe replacement program. The Commission denied my request to make an oral comment. They did not give me a reason why.

> Keep Reading

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