Financial Reform

Need Help with A Consumer Problem?

Taking legal action against a business or a service for consumer protection violations may be a long and costly process. Mediation provides a voluntary, informal channel of resolving disputes to reach a mutually agreeable settlement.

News Release | MASSPIRG | Financial Reform

Most Fortune 500 Companies Used Tax Havens in 2016

General Electric and Boston Scientific among the 73 percent of Fortune 500 companies maintaining subsidiaries in offshore tax havens, according to our new report "Offshore Shell Games."

Report | MASSPIRG Education Fund | Financial Reform

Off Shore Shell Games

Seventy three percent of Fortune 500 companies – including General Electric and Boston Scientific maintained subsidiaries in offshore tax havens, according to MASSPIRG's new report - "Offshore Shell Games."

Report | MASSPIRG Education Fund | Financial Reform

Older Consumers in the Financial Marketplace

Mortgages were the leading source (31% of 72,000) of complaints to the Consumer Financial Protection Bureau from consumers 62 and over, followed by complaints about credit reports and debt collection, according to a new report. Further, legislation passed by the U.S. House and awaiting Senate action intended to cripple the Consumer Bureau would place older consumers at greater risk of harm from financial scammers.

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.

Beat High Bank Fees

Banks rely on consumer indifference when they raise fees. They count on consumers not shopping around. PIRG’s Big Banks, Bigger Fees reports routinely find that small banks and credit unions are not following the big banks’ lead; they still offer many free or low cost accounts.

News Release | MASSPIRG | Financial Reform

As CFPB Turns 5 Years Old, MASSPIRG Celebrates Accomplishments

This week, on July 21, the Consumer Financial Protection Bureau turns 5 years old. The CFPB, a brainchild of then-professor Elizabeth Warren, was championed by MASSPIRG and a coalition of civil rights and community groups as part of Wall Street Reform legislation enacted in the wake of the 2008 financial collapse triggered by risky bank practices.

NYT Points Out Overdraft Fees Still A Problem

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

A major article in today's New York Times, "Overdraft Practices Continue to Gut Bank Accounts and Haunt Customers," points out that while 2010 reforms put in place by the pre-CFPB regulators have helped, there's still work to be done to protect consumers from unfair overdraft practices. While years ago banks used "bounced check" fees to deter what was then seen as a negative behavior, more recently they have encouraged overdrafts by offering "standard overdraft protection" as if it is a feature, not a bug. They've made billions.

THE CFPB IS 4 YEARS OLD AND HAS A LOT TO SHOW FOR IT!

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

We're keeping busy promoting the CFPB's 4th birthday. Tuesday, July 21, marks four years to the day since the Consumer Financial Protection Bureau opened its doors to protect consumers and make financial markets work. CFPB was established by Congress just one year before that, with the July 21, 2010 passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the wake of the financial collapse of 2007-2008, caused by a lack of adequate regulation.

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