Consumer Defense

There are those who argue that over-regulation is weakening the economy and stifling opportunity. And there certainly are examples of laws that go too far, regulations we could do without, and rules that are downright ridiculous. Maybe you’ve heard about the case of the little girl needing a $3,500 permit to operate a lemonade stand?

But right now in the name of regulatory reform, Wall Street, big banks and their allies in Congress are working to strip away vital consumer protections we rely on every day. Protections that keep Wall Street in check, and keep our retirement savings and college accounts safe. Protections that ensure financial services are offered at a fair price and with the consumers' best interests in mind. Laws that help ensure our personal financial data is accurate and kept secure. Even rules that ensure airline passengers have basic rights when they travel.

CONSUMER PROTECTIONS AT RISK

Our cop on the financial beat

What’s at stake: After the 2008 economic collapse, our 501 (c)(4) sister organization U.S. PIRG helped create the Consumer Financial Protection Bureau (CFPB), the only agency devoted to creating and enforcing fair, clear and transparent rules to protect consumers in the financial marketplace. Wall Street and their allies in Congress are pushing to weaken or even get rid of the CFPB.

What we're doing: We’ve launched a campaign to defend the Consumer Bureau, keeping an eye on policies that threaten it and educating the public about its immense value. Learn more.

CONSUMER PROTECTIONS AT RISK

When credit bureaus make mistakes

What’s at stake: If Equifax, Experian or TransUnion make a mistake or mishandle personal information that results in financial harm, we should be able to sue them for appropriate damages. New proposals would limit civil penalties from lawsuits, severely reducing the incentives for credit bureaus to fix their mistakes.

What we’re doing: We’re educating the public and working for reform that would compel the credit bureaus to improve the accuracy of credit reports and credit scores and fix mistakes more quickly.

When financial data gets hacked

What’s at stake: From Target to Home Depot to Equifax, hackers have breached the security systems of some of the largest companies and credit agencies and stolen personal financial information. When our data is stolen, it shouldn’t be up to the company to decide whether to tell us. It should be the law.

What we’re doing: We’re educating consumers on how to freeze their credit and protect themselves in the wake of a data breach. Learn more.

When banks gouge merchants

What’s at stake: Visa, Mastercard, Discover and American Express charge merchants “swipe fees.” Those fees really add up, and usually get passed on to consumers, including cash customers. Many merchants pay more in bank fees than they do in rent or employee costs.

What we’re doing: We’re educating decision-makers and the public on unfair bank and credit card swipe fees and practices. Learn more.

Investment advice should be in our best interest

What’s at stake: It should be a requirement that any time an investment broker pitches stocks or other financial products to you, they must use a high standard that ensures the advice is in your best interest. Yet, the Trump administration replaced a strong Labor Department rule that protected small investors with a weak, industry-supported SEC rule that doesn’t.

What we’re doing: We’re educating policymakers about the need to protect small investors, not brokers.

Airline passenger rights

What’s at stake: Our sister organization U.S. PIRG helped establish the Airline Passengers’ Bill of Rights, which guarantees that passengers trapped on the tarmac for three hours or more have certain right, including potable water and the ability to leave the plane. The airline lobby is working to roll back these and other protections.

What we’re doing: We’re informing passengers on what their rights are when flying, and what to do if they find themselves in one of these situations.

LEARN MORE

Defending consumer protections in Washington, D.C.

U.S. PIRG Education Fund’s Watchdog team is on the ground in Washington, D.C., keeping an eye on policy that threatens commonsense consumer protections or puts consumers at risk, and our network’s state office directors around the country are building the climate of support necessary to prevent these threats from coming to fruition.

Through our research and public education, we’re also working to make sure that, when it comes to consumer protections, decision-makers such as agency officials have all the facts, citizens stay informed, and decisions that affect all of us are made in the open. And when consumer protections are threatened, we work with the media to get the word out, and we give Americans the tools and information they need to convince our leaders to do the right thing.

Our focus is on making a difference in public policy and in our lives. We look for the places where our combination of advocacy, grassroots action and policy expertise can make the biggest impact.

Top photo: The White House