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

MULVANEY SAYS HE'LL "FIX" CFPB, WARREN TO JOIN PROTEST TUESDAY

Mick Mulvaney has  "inherent conflicts"  in running the CFPB. First, he runs the White House budget office, and the CFPB was designed to be an independent agency, and second, he has nothing but disdain for the agency's work  in protecting consumers, saying the office was "sad, sick and a joke".

> Keep Reading
News Release | MASSPIRG Education Fund | Consumer Protection

32nd Annual “Trouble in Toyland” Survey Finds Dangerous Toys on Store Shelves

Stores nationwide are still offering dangerous and toxic toys this holiday season and, in some cases, ignoring explicit government safety regulations in the process.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

Trouble in Toyland

Stores nationwide are still offering dangerous and toxic toys this holiday season and, in some cases, ignoring explicit government safety regulations in the process. 

> Keep Reading
News Release | MASSPIRG | Consumer Protection

GROUPS DEMAND TO KNOW HOW MUCH MONEY EQUIFAX MAKING OFF DATA BREACH

Send Letter To Big 3 Credit Bureau CEOs For Answer: Are They Profiteering?

> Keep Reading

Pages

MULVANEY SAYS HE'LL "FIX" CFPB, WARREN TO JOIN PROTEST TUESDAY

Mick Mulvaney has  "inherent conflicts"  in running the CFPB. First, he runs the White House budget office, and the CFPB was designed to be an independent agency, and second, he has nothing but disdain for the agency's work  in protecting consumers, saying the office was "sad, sick and a joke".

> Keep Reading
News Release | MASSPIRG Education Fund | Consumer Protection

32nd Annual “Trouble in Toyland” Survey Finds Dangerous Toys on Store Shelves

Stores nationwide are still offering dangerous and toxic toys this holiday season and, in some cases, ignoring explicit government safety regulations in the process.

> Keep Reading
News Release | MASSPIRG | Consumer Protection

GROUPS DEMAND TO KNOW HOW MUCH MONEY EQUIFAX MAKING OFF DATA BREACH

Send Letter To Big 3 Credit Bureau CEOs For Answer: Are They Profiteering?

> Keep Reading
News Release | MASSPIRG Education Fund | Consumer Protection

Target Removes Lead-Laden Fidget Spinner from Website, But Still Available for Sale In-Store

Target Removes Lead-Laden Fidget Spinner from Website, But Still Available for Sale In-Store

CPSC Commissioner states that it is obvious that fidget spinners are toys

 

> Keep Reading
News Release | MASSPIRG Education Fund | Consumer Protection

High Levels of Lead Found in Fidget Spinners

Boston– The MASSPIRG Education Fund found fidget spinners with high levels of lead for sale at Target stores across the country. Parents and consumers need to know about these lead-laden toys, especially because we alerted Target and the toy’s distributor, Bulls i Toy, to our findings, but they refused to address the problem. The toxic fidget spinners are still available both in toy aisles at Target stores and on its website. Incredibly, Target and Bulls i Toy defend their inaction by pointing to the Consumer Product Safety Commission’s (CPSC) declaration that fidget spinners are NOT technically “children’s products” subject to legal limits for lead. 

> Keep Reading

Pages

Report | MASSPIRG Education Fund | Consumer Protection

Trouble in Toyland

Stores nationwide are still offering dangerous and toxic toys this holiday season and, in some cases, ignoring explicit government safety regulations in the process. 

> Keep Reading
Report | MASSPIRG Education Fund | Public Health, Consumer Protection

Lead in Fidget Spinners

The MASSPIRG Education Fund found fidget spinners with high levels of lead for sale at Target stores in Massachusetts and across the country.

> Keep Reading
Report | MASSPIRG Ed Fund, CARS Foundation, Center for Auto Safety | Consumer Protection

Used Car Roulette

One in four vehicles surveyed at eight CarMax locations contain dangerous, unrepaired safety recalls, a significant increase from 2015.

 

 

 

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection, Financial Reform

Protecting the People Who Protect US

How the CFPB protects and serves our military service members and their families.

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Report | MASSPIRG Education Fund | Consumer Protection

Medical Debt Malpractice

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.

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Pages

Blog Post | Consumer Protection

Statement on resignation of CFPB Director | Deirdre Cummings

Richard Coudray, Director of CFPB, stepping down.

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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.

> Keep Reading
Blog Post | Consumer Protection

Verizon Security Breach: Steps to Take to Protect Yourself | Jeanne Foy

A security lapse at Verizon has exposed data from millions of Verizon customers - leaking names, addresses and personal identification numbers (PINs). Steps to protect your identity and account information.

> Keep Reading
Blog Post | Consumer Protection

TIPS TO STAY SECURE ONLINE | Jeanne Foy

Staying vigilant online in the face of growing cyberattacks.  

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