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

High lead levels found in water at hundreds of schools

Hundreds of Massachusetts schools found to have lead in drinking water.

> Keep Reading
News Release | MASSPIRG | Consumer Protection

Latest CFPB Complaints Report Shows 316% Increase in Student Loan Servicing Complaints for Massachusetts Students

United States House of Representatives Financial Services Chairman Jeb Hensarling (TX) will hold a Wednesday hearing on his so-called Financial Choice Act 2.0.  The bill leaves Massachusetts consumers and our economy even more vulnerable to Wall Street's recklessness than before the '08 crisis by taking aim at all of the 2010 Dodd-Frank Act’s protections caused by unfair bank practices abetted by regulatory failures.

> Keep Reading
Blog Post | Consumer Protection

Financial Choice Act: A Cruel Choice for the CFPB & Consumers | Deirdre Cummings

This week, on Wednesday 4/26, the House FInancial Services Committee holds a hearing on Chairman Jeb Hensarling's Financial Choice Act 2.0. It's a brutal un-do of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act that forgets, or ignores, the historical fact that reckless bank practices abetted by loose regulators wrecked our economy in 2008. A key goal of the proposal is to weaken the successful CFPB into an unrecognizable husk incapable of protecting consumers.

> Keep Reading
Blog Post | Consumer Protection

Have A Consumer Problem? | Jeanne Foy

Need Help in Resolving a Consumer Problem?

> Keep Reading
News Release | MASSPIRG | Consumer Protection

New report from leading consumer group shows millions are victims of aggressive tactics from medical debt collectors

MASSPIRG, released the ninth in a series of reports that review complaints to the Consumer Financial Protection Bureau (CFPB).  The latest report explores consumer complaints about medical debt, a major source of problems for consumers, since medical debt items on credit reports are often wrong or about the wrong consumer.  The report also demonstrates the need to defend the CFPB from partisan and special interest attacks.

 

 

> Keep Reading

Pages

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.

> Keep Reading
News Release | MASSPIRG | Consumer Protection

Federal Trade Commission to America’s used car buyers: Drop Dead.

Consumer and safety organizations blasted the FTC Commissioners’ decision, announced today, to finalize consent orders with GM and the Lithia and Koons auto dealership chains that will allow them to advertise that unrepaired recalled used cars with lethal safety defects are “safe,” have been “repaired for safety,” passed a “rigorous inspection” and qualified to be sold as “certified” cars without repairing the safety defects, if they merely include a meaningless disclosure that the cars “may” be under an  open recall.  In addition, FTC has proposed the same settlement with CarMax and  other dealers. 

 

 

> Keep Reading
News Release | MASSPIRG EDUCATION FUND | Consumer Protection

31st Annual Survey Finds Recalled Toys in Online Stores

Some toys that have been recalled for lead, powerful magnets, or other hazards can still be available for sale in online stores, according to Massachusetts Public Interest Research Group Education Fund’s 31st annual Trouble in Toyland report.

> Keep Reading
News Release | MASSPIRG EDUCATION FUND | Consumer Protection

Yahoo Data Breach Presents Opportunity for Strong Response

Yahoo data breach affecting at least 500 million accounts. 

> Keep Reading

Pages

Report | MASSPIRG Education Fund | Consumer Protection

Why You Should Get Security Freezes BEFORE Your Information is Stolen

A never ending stream of news reports about data breaches – including T-Mobile, Target Corporation, the IRS, numerous Blue Cross Blue Shield and other health plans, the University of Maryland, and the U.S. Office of Personnel Management (OPM) - is a constant reminder that you’re at risk of a data breach and therefore, identity theft.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

Mortgages and Mortgage Complaints

The Consumer Financial Protection Bureau (CFPB) was established in 2010 in the wake of the worst financial crisis in decades. Its mission is to identify dangerous and unfair financial practices, to educate consumers about these practices and to regulate the financial institutions that perpetuate them.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

Trouble in Toyland 2014

Among the toys surveyed this year, we found numerous choking hazards and five toys with concentrations of toxics exceeding federal standards. In addition to reporting on potentially hazardous products found in stores in 2014, this installment of the report describes the potential hazards in toys and children’s products.

> Keep Reading
Report | MASSPIRG EDUCATION FUND | Public Health, Consumer Protection

Ending the Abuse of Antibiotics in Livestock Production

The overuse and misuse of antibiotics threathen public health.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

The Unfriendly Skies

An analysis of Five Years of Airline Passenger Complaints to the Department of Transportation.

> Keep Reading

Pages

View AllRSS Feed

Support Us

Your tax-deductible donation supports MASSPIRG 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 MASSPIRG Education Fund’s work through bequests, contributions from life insurance or retirement plans, securities contributions and vehicle donations.