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

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

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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

 

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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. 

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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.

 

 

 

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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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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.

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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.

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Blog Post | Consumer Protection

TIPS TO STAY SECURE ONLINE | Jeanne Foy

Staying vigilant online in the face of growing cyberattacks.  

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