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LATimes: Obama's consumer protection legacy defined by aggressive agency

[This weekend, the Los Angele Times chronicled President Obama's consumer protection record, with heavy emphasis on the history and fight over the Consumer Financial Protection Bureau (CFPB):]

"[...] Launched in the wake of the 2008 financial crisis, the bureau is one of President Obama’s signature accomplishments. [...] “I think you have to consider him a tremendous president for consumers,” said Ed Mierzwinski, consumer program director at the U.S. Public Interest Research Group."

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Blog Post | Transportation

A World Without Carbon Pollution – Closer Than You Might Think | John Olivieri

For many, a world without carbon pollution seems like a distant utopia. To some, this even seems unobtainable. The size and scope of the challenge before us can be daunting, yet, there is good news -- a world without carbon pollution is closer than you think.

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Blog Post | Consumer Protection

As CFPB Escalates Drive Toward Protections, Study Finds CFPB Enforcement Works | Ed Mierzwinski

This month the CFPB issued its proposed rule prohibiting class action bans in small-print mandatory arbitration clauses; in June it is expected to release its high-cost small dollar lending (payday and auto title loan) proposed rule. Meanwhile, as CFPB's industry opponents hide behind astroturf front groups and Congressional opponents use backdoor attacks, a law professor has released a major report finding that "from its inception [in 2011] through 2015 the agency had a 122-and-0 track record in its publicly announced enforcement actions" and that 93% (over $10.5 billion) of funds recovered for consumers have been for deceptive practices -- "[f]ar from a novel legal theory."

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Blog Post | Transportation

Why Is Our Infrastructure So Terrible? | Sean Doyle

America is facing a $1.4 trillion infrastructure funding crisis. This isn't some distant problem; it's already having a real effect on everyday Americans.

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Blog Post | Transportation

Good Things Come to Those On Bikes | Sean Doyle

Pull the bike out of the closet, pump up those tires, and dust off the helmet because it's Bike to Work Week!

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Media Hit | Budget

R.I. earns ‘D-’ in transparency

PROVIDENCE – Rhode Island is one of the worst states in the nation at providing its residents with clear access to government spending data, according to a new report by the Rhode Island Public Interest Research Group.

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News Release | RIPIRG | Financial Reform

Robo-Signing Settlement With Big Banks Is Important Step

Today's settlement by the U.S. and 49 state attorneys general with the 5 biggest mortgage servicers - the big banks Citibank, Bank of America, Wells Fargo and JP Morgan Chase, along with Ally Financial - is an important and enforceable first step toward holding the big banks accountable for not only wrecking the economy but using a variety of unfair foreclosure practices to ruin the lives of millions of Americans and, in many cases, taking their homes illegally.

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News Release | RIPIRG Education Fund | Democracy

New Report Released: Auctioning Democracy

Today RIPIRG Education Fund and Demos released a new analysis of the funding sources for the campaign finance behemoths, Super PACs. The findings confirmed what many have predicted in the wake of the Supreme Court’s damaging Citizens United decision: since their inception in 2010, Super PACs have been primarily funded by a small segment of very wealthy individuals and business interests, with a small but significant amount of funds coming from secret sources.

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News Release | RIPIRG and Citizens for Tax Justice | Financial Reform

Thirty Fortune 500 Companies Paid More to Lobby Congress than they Did in Federal Income Taxes

With the second anniversary approaching of the Supreme Court’s decision in the Citizens United case – which opened the floodgates to corporate spending on elections – Rhode Island Public Interest Research Group (RIPIRG) and Citizens for Tax Justice reveal 30 corporations that spent more to lobby Congress than they did in taxes.

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News Release | RIPIRG | Consumer Protection

A Lower Standard for Lead Poisoning

RIPIRG applauds the Advisory Committee on Childhood Lead Poisoning and Prevention of the Centers for Disease Control and Prevention in their important decision to protect the safety and well-being of our littlest consumers: children. The Panel recommended the government lower the threshold of lead in blood that qualifies as lead poisoning in children.

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Blog Post | Financial Reform

As NY Brings Credit Bureaus To Heel, CFPB Arbitration Study Paves Way Toward New Protections | Ed Mierzwinski

Two big consumer stories so far this week offer hope to consumers victimized by credit bureau errors and, more generally, by an inability to take credit bureaus, credit card companies, banks or payday lenders to court when harmed. On Monday, New York's Attorney General Eric Schneiderman signed a groundbreaking agreement with the Big Three credit bureaus, Equifax, Trans Union and Experian. Then today, the CFPB released a report finding that consumer legal rights are infringed by small-print forced arbitration clauses in credit card and other contracts.  The CFPB will hold a webcast public hearing at 11am Eastern time today (Tuesday) to discuss the report's findings and next steps.

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Blog Post | Financial Reform

Is Anyone Protecting Your Privacy Or Wallet? Turbotax? Anthem? Apple? The Government? | Ed Mierzwinski

As if recent privacy breaches at the online tax preparer Turbotax and the health insurer Anthem weren't enough, it turns out that low-tech hacks can trick the vaunted Apple Pay system into giving up cash to thieves, too. Meanwhile, while the administration's blueprint for a Privacy Bill of Rights in 2012 was excellent, its new legislative draft from the Department of Commerce could have been written by the U.S. Chamber of Commerce. There is some good news on privacy, though.

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Blog Post | Consumer Protection

As House Holds Oversight Hearing, 340 Groups Call For Defense of CFPB | Ed Mierzwinski

Today, Consumer Financial Protection Bureau Director Richard Cordray will present the CFPB's sixth semi-annual report to the House Financial Services Committee, whose majority members have been harsh critics of the successful consumer agency. Americans for Financial Reform, joined by the state PIRGs and a total of 340 national, state and local groups, sent Congress a letter explaining why the idea of the CFPB needs no defense, only more defenders.

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Blog Post | Consumer Protection

Coalition Launched To Protect Retirement Savings from Wall Street Loopholes | Ed Mierzwinski

We've joined AARP, the Consumer Federation of America, AFL-CIO, Americans for Financial Reform and other leading groups to support an imminent Department of Labor rule to require retirement advisors to put consumers first. Wall Street brokerages and insurance companies have already launched a fierce lobbying attack, since they've been using loopholes to put themselves first to the tune of an estimated $17 billion/year by pocketing what should be your retirement income.

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Blog Post | Financial Reform

Anthem Customers and Others: Some Advice On Steps To Take After Data Breach | Ed Mierzwinski

UPDATED (9 Feb.) Retail store data breaches make a mess, but an easy one to clean up and the few consumers who become fraud victims are quickly made whole. The Anthem hackers, on the other hand, reportedly obtained a mother lode of information that could be used to commit a variety of serious frauds, including obtaining your tax refund. Read our tips here. Here's the first: Don't click on any emails claiming to be from Anthem; some may be malicious.

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