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CFPB Report Finds 1 In 4 Consumers Feel "Threatened" By Debt Collector Tactics | Ed Mierzwinski

We joined Consumer Financial Protection Bureau Director Richard Cordray and Washington, DC Attorney General Karl Racine for release of new CFPB data on debt collector abuses. Fully 1 in 4 consumers feel "threatened" by abusive, possibly illegal, debt collector tactics. The release also included an emphasis on problems with the "debt buyer" industry, comprised of firms that buy older, uncollected debt for as little as less than a penny on the dollar.

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News Release | U.S. PIRG | Financial Reform

CFPB Taps Former Pentagon Legal Official to Head Office of Servicemember Affairs

We join National Consumer Law Center, Americans for Financial Reform and other leading groups in a release commending the appointment of senior Pentagon official Colonel Paul Kantwill (U.S. Army, Retired) to lead the Consumer Financial Protection Bureau’s (CFPB) Office of Servicemember Affairs. The CFPB plays an important role in protecting servicemembers, veterans and their families from financial predators.

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Blog Post | Financial Reform

CFPB Slams Two Credit Bureaus For Deceptive Marketing, Expect Experian Next | Ed Mierzwinski

This week, the Consumer Financial Protection Bureau nailed two "big 3" credit bureaus --Trans Union and Equifax -- for deceptive marketing of their over-priced, under-performing credit monitoring subscription products.  Combined fines and consumer restitution total $23 million. I predict that the CFPB will also bring a case against the remaining bureau, Experian, and that it will pay much more, because Experian really has led the way in aggressively marketing these tawdry products. They don't prevent identity theft, nor do they always accurately disclose your credit score, at fees of up to $16.95/month or more. Yikes!

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Blog Post | Consumer Protection

This New Year, Celebrate the CFPB | Ed Mierzwinski

This month, we published our 8th report based on analyzing consumer complaints collected in the CFPB's Public Consumer Complaint Database. The release of "Big Banks, Big Overdraft Fees" provides a good year-end opportunity to summarize a few of the reasons to be thankful for the Consumer Financial Protection Bureau, which took over in July 2011 as the first federal regulator with just one job: protecting consumers from unfair financial practices. The idea of the CFPB needs no defense, only more defenders.

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Statement on Procter & Gamble’s New Preservative Tracker in Personal Care Products

Personal care product giant Procter & Gamble (P&G) recently unveiled a new preservative tracker, which lets consumers know which preservatives are included in various categories of P&G’s products, such as baby wipes, skin care, and hair care products. Consumers can search the tracker by ingredient or by product type.

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News Release | MoPIRG | Health Care

Supreme Court Upholds Health Reform

Today’s decision is good news for consumers. Insurance companies can’t go back to the days of dropping your coverage once you become ill, or denying coverage to sick children. And beginning in 2014, the days of insurers being able to deny anyone coverage for “pre-existing conditions” will be history. 

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News Release | MoPIRG | Democracy

First-of-its-kind “Refrain From Political Spending” Resolution to Be Voted on at Bank of America Shareholder Meeting

On Wednesday, May 9, shareholders at Bank of America will vote “yea” or “nay” on a first-of-its-kind “refrain from political spending” resolution. Resolutions addressing political spending are among the most popular in the 2012 shareholder season, many dealing with disclosure of such spending. This is the first shareholder season for this groundbreaking resolution which was introduced by socially responsible investment firms Trillium Asset Management at Bank of America and 3M Corporation and by Green Century Capital Management at Target Corporation.

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News Release | MoPIRG | Budget

New Report: Missouri Receives a “C” in Annual Report on Transparency of Government Spending

Missouri received a “C” when it comes to government spending transparency, according to Following the Money 2012: How the States Rank on Providing Online Access to Government Spending Data, the third annual report of its kind by the United States Public Interest Research Group (U.S. PIRG) and the Missouri Public Interest Research Group (MoPIRG).

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News Release | MoPIRG | Financial Reform

Robo-Signing Settlement With Big Banks Is Important Step

Today's settlement by the U.S. and 49 state attorneys general with the 5 biggest mortgage servicers - the big banks Citibank, Bank of America, Wells Fargo and JP Morgan Chase, along with Ally Financial - is an important and enforceable first step toward holding the big banks accountable for not only wrecking the economy but using a variety of unfair foreclosure practices to ruin the lives of millions of Americans and, in many cases, taking their homes illegally.

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News Release | MoPIRG Foundation | Democracy

New Report Released: Auctioning Democracy

Today MoPIRG Foundation and Demos released a new analysis of the funding sources for the campaign finance behemoths, Super PACs. The findings confirmed what many have predicted in the wake of the Supreme Court’s damaging Citizens United decision: since their inception in 2010, Super PACs have been primarily funded by a small segment of very wealthy individuals and business interests, with a small but significant amount of funds coming from secret sources.

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