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

Report | Ohio PIRG Education Fund | Consumer Protection

Driving Into Debt

In much of America, access to a car is all but required to hold a job or lead a full and vibrant life. Generations of car-centric transportation policies – including lavish spending on roads, sprawl-inducing land use policies, and meager support for other modes of transportation – have left millions of Americans fully dependent on cars for daily living.

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

Questionable lending drives Americans to record auto debt

The amount of money Americans owe on their cars is now at an all-time high -- up 75 percent since the end of 2009. Americans’ rising indebtedness for cars raises concerns about the financial future of millions of households as lenders extend credit to more and more Americans without the ability to repay, according to a new U.S. PIRG report.

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

Recall of Gold Medal Flour for Salmonella Contamination

General Mills announced Wednesday it is recalling all five-pound bags of Gold Medal Unbleached Flour because of potential Salmonella contamination. U.S. PIRG Consumer Watchdog issued the following statement.

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

Fiat Chrysler Settlement Fails to Protect Consumers

While we are glad that Fiat Chrysler is paying something for damaging the health of Americans and deceiving customers, this settlement does not go far enough. It neither ensures these violations of the public trust won’t happen again nor makes consumers whole.

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

Popular toys contain toxics and other hazards

This holiday season, watch out for dangerous and toxic toys. U.S. PIRG’s 33rd annual Trouble in Toyland report found toxic amounts of boron, which can cause nausea, vomiting and other health issues, in slime products as well as fining that Amazon failed to appropriately label choking hazards.

> Keep Reading

Pages

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.

> Keep Reading

Statement on Walmart’s Decision to Strengthen Chemical Footprint Policy

Ohio 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.

> Keep Reading

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.

> Keep Reading

Statement on Unilever Starting to Disclose Fragrances via SmartLabel

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

> Keep Reading

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.

> Keep Reading

Pages

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 | US PIRG Education Fund

A month after announcing a weak plan to reduce heavy metals in baby food, the Food and Drug Administration (FDA) announced a new plan Thursday aimed at making baby food safer over the next several years.

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.

View AllRSS Feed

Support Us

Your tax-deductible donation supports Ohio PIRG Education Fund's work to educate consumers on the issues that matter, and to stand up to the powerful interests that are blocking progress.

Learn More

You can also support Ohio PIRG Education Fund’s work through bequests, contributions from life insurance or retirement plans, securities contributions and vehicle donations. 




Ohio PIRG Education Fund is part of The Public Interest Network, which operates and supports organizations committed to a shared vision of a better world and a strategic approach to social change.