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

Agency votes to begin rulemaking process to protect American children, firefighters from hazardous flame retardant chemicals

Today, the U.S. Consumer Product Safety Commission (CPSC) took three critical steps toward protecting consumers and firefighters from the hazards posed by a class of flame retardant chemicals (known as “organohalogens”). The CPSC directed the Commission’s staff to begin the rulemaking process to ban the sale of four categories of consumer products if they contain these chemicals. Once again, the CPSC has made an important action for consumers.

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Statement on Unilever Starting to Disclose Fragrances via SmartLabel

Statement from NMPIRG Education Fund Toxics Advocate Dev Gowda on Unilever Starting to Disclose Fragrances via SmartLabel

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Blog Post | Consumer Protection

Consumer Tips and FAQ about the Equifax Breach | Mike Litt

Hackers gained access to the personal data of over 145 million Americans in the Equifax breach. Here are some recommended actions consumers can take to protect themselves and answers to frequently asked questions.

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Texas Chemical Explosions: More Safety Needed Now

Two small explosions last night at a Texas chemical facility highlight that comprehensive emergency regulations need to be enforced more strictly at chemical plants.

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Statement on P&G’s Consumer Product Fragrance Disclosure Announcement

NMPIRG Education Fund applauds consumer product giant Procter & Gamble, the maker of brands like Olay, Old Spice, and Pampers, for its announcement today that it will increase fragrance ingredient transparency in all of its consumer brands.

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News Release | Consumer Protection

Unilever: Go Toxic-Free

On Valentine’s Day, consumer groups thank Unilever for great first step in disclosing fragrance ingredients and call on personal care giant to go toxic-free.

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

Framework for VW Settlement Announced

Statement by Mike Litt, Consumer Program Advocate at U.S. PIRG Education Fund, on todays announced VW settlement. For more details on what a strong settlement agreement ought to look like, please see the open letter that we released earlier this week with other consumer and environmental groups.

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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 | U.S. PIRG Education Fund

Our response to Equifax paying a $650 million penalty for exposing the social security numbers of 148 million Americans to identity theft.

News Release | U.S. PIRG Education Fund

Fisher-Price recalled 4.7 million Rock n’Play baby sleepers on Friday. U.S. PIRG Consumer Watchdog Adam Garber issued a response: "“While we’re pleased that Fisher-Price is finally recalling these dangerous sleepers, 30 deaths in 10 years is 30 deaths too many and 10 years too late."

News Release

Read U.S. PIRG's statement on Wells Fargo eliminating some fees for student on debit cards.

News Release | U.S. PIRG Education Fund

Just seven weeks after Tyson Foods recalled chicken nuggets that could contain rubber, the poultry giant is recalling chicken strips that might contain metal. 

News Release | U.S. PIRG Education Fund

Newly-revealed details by the New York Times about of the crash of two Boeing 737 Max 8 planes may stun even the most hardened observer. The planes lacked a safety feature that may have warned pilots about problems because it was not required and Boeing charged airlines extra to include it. Adam Garber, U.S. PIRG Education Fund Consumer Watchdog issued the following statement.

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