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 | 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.”

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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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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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News Release | Consumer Protection

REPORT: MORTGAGE ABUSES LEADING SOURCE OF OLDER CONSUMER COMPLAINTS TO CFPB

Mortgages were the leading source of 72,000 complaints to the Consumer Financial Protection Bureau from consumers 62 years of age and over, followed by complaints about credit reports and debt collection, according to a new report. Further, legislation passed by the House and awaiting Senate action intended to cripple the Consumer Bureau would place older consumers at greater risk of harm from financial scammers.

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Report | U.S. PIRG Education Fund & Frontier Group | Consumer Protection

Older Consumers in the Financial Marketplace

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

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News Release | U.S.PIRG Education Fund | Consumer Protection, Make VW Pay

Leading Groups Send Criteria for Evaluating VW Settlement

Four leading consumer, environmental, and public health organizations wrote an open letter in advance of the April 21st deadline set by U.S. District Judge Charles R. Breyer for a proposal that deals with Volkswagen’s emission scandal.

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News Release | NM PIRG Education Fund | Consumer Protection

30th Annual Survey Finds Dangerous Toys on Store Shelves

Dangerous or toxic toys can still be found on America’s store shelves, according to the New Mexico Public Interest Research Group Education Fund’s 30th annual Trouble in Toyland report. The survey of potentially hazardous toys found that, despite recent progress, consumers must still be wary when shopping this holiday season.

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News Release | U.S. PIRG | Consumer Protection

Over 7,000 Comments Submitted to Department of Labor

Every year, over $17 billion is lost from retirement savings to fees and charges, according to the Council of Economic Advisors. Today, we submitted over 7,000 PIRG member comments urging the U.S. Department of Labor to finalize a strong rule requiring retirement advisors to put the interests of their customers first. We also submitted a detailed expert comment of our own in the important "conflicted advice" rulemaking.

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News Release | US PIRG Education Fund | Consumer Protection

Top 10 List: How the CFPB Works for Consumers

The Consumer Financial Protection Bureau (CFPB) turns 4 on July 21st. To celebrate and increase public awareness of the agency, U.S. PIRG Education Fund released a new webpage, “Meet the CFPB: Just Ten of the Ways It Works for You.

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News Release | US PIRG

Beech-Nut will stop selling all single grain rice cereal after Alaska state officials discovered high arsenic levels during routing sampling, the U.S. Food & Drug Administration (FDA) said in a statement released Tuesday.

News Release | US PIRG

The U.S. Consumer Product Safety Commission approved tough new standards Wednesday to regulate several infant sleep products for the first time.

News Release

Being a consumer is a tough job. Really tough. During National Consumer Protection Week, which runs through March 6, the U.S. PIRG Education Fund staff is offering a daily dose of tips and advice to help you navigate life’s biggest consumer challenges.

Report | U.S. PIRG Education Fund

U.S. PIRG Education Fund report documents that complaints to the CFPB, led by complaints about credit bureaus, set new records in 2020.

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