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Video Blog | Consumer Protection

Last Week Tonight with John Oliver: The retirement industry is a minefield -- but here’s the answer

In this week’s episode of “Last Week Tonight,” host John Oliver called out three main problems hurting consumers when it comes to retirement: First, financial advisers aren’t currently required to work in their clients’ best interest. Second, high fees compound over time. Third, actively managed investment funds aren’t the answer. 

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News Release | U.S.PIRG | Consumer Protection

Strong National Payday Rule Could Save Consumers Billions

Today, the Consumer Financial Protection Bureau (CFPB) released its draft high cost small dollar lending (payday and auto title) loan rule for public comment. 

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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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News Release | RIPIRG Education Fund | Budget, Tax

Rhode Island Receives a “D-” in Annual Report on Transparency of Government Spending

Rhode Island received a “D-” when it comes to government spending transparency, according to “Following the Money 2013: How the States Rank on Providing Online Access to Government Spending Data,” the fourth annual report of its kind by the RIPIRG Education Fund.

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News Release | RIPIRG Education Fund | Budget, Tax

New Analysis Compares Providence to Other Cities on Spending Transparency

Today, the Rhode Island Public Interest Research Group (RIPIRG) Education Fund released an analysis which gives Providence a grade of “D+” when compared to spending transparency in the nation’s thirty largest cities. This Providence analysis follows a national report, released in January, which evaluated each city’s progress toward comprehensive, one-stop, one-click budget accountability and accessibility.

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News Release | RIPIRG Education Fund | Budget, Tax

Offshore Tax Dodging Blows a $229 Million Hole in Rhode Island Budget

Today the Rhode Island Public Interest Research Group (RIPIRG) Education Fund released a new study revealing that Rhode Island lost $229 million due to offshore tax dodging in 2012. Many of America’s wealthiest individuals and largest corporations use tax loopholes to shift profits made in America to offshore tax havens, where they pay little to no taxes.

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News Release | RIPIRG | Budget, Tax

First Step to Avoid the Fiscal Cliff: Close Offshore Tax Loopholes

With Congress scrambling to agree on ways to reduce the deficit, RIPIRG released a new analysis pointing out a clear first step to avoid the “fiscal cliff”: closing offshore tax loopholes. Many of America’s largest corporations and wealthiest individuals use accounting gimmicks to shift profits made in America to offshore tax havens, where they pay little to no taxes. This tax avoidance costs the federal government $150 billion in tax revenue each year.  RIPIRG released new data illustrating the size of this loss with 16 dramatic ways $150 billion could be spent.

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News Release | RIPIRG | Budget, Food

Small Farmers and Citizens Speak Out Against Agricultural Subsidies in Farm Bill

Small farmers and ordinary citizens across the country are taking a stand against wasteful agricultural subsidies in the federal Farm Bill. With only a few weeks left before they adjourn for the election, reauthorizing or extending the Farm Bill is one of Congress’s top priorities.

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Report | RIPIRG | Higher Ed

Cutting Interest Rates, Lowering Student Debt Updated

In 21st century America, a college education is critical for individual success and the strength of our nation. Higher education is associated with better health, greater wealth and more vibrant civic participation, as well national economic competitiveness in today’s global environment. As the need for a college degree has grown, however, so has the cost of obtaining that education. The result is increased reliance on loans to pay for college.

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Report | RIPIRG | Consumer Protection

The Campus Credit Card Trap

Credit card lending is enormously profitable. According to annual Federal Reserve Board of Governors’ (FRB) Reports to Congress, it is the most profitable form of banking. But the credit card industry is saturated. The average adult had nearly five credit cards in 2006 and the average household received 5.7 credit card solicitations monthly in 2004, according to the 2007 FRB report.1 Banks seeking even greater profits from credit cards have several options.

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Report | RIPIRG | Transportation

A Better Way To Go

America’s automobile-centered transportation system was a key component of the nation’s economic prosperity during the 20th century. But our transportation system is increasingly out of step with the challenges of the 21st century. Rising fuel prices, growing traffic congestion, and the need to address critical challenges such as global warming and America’s addiction to imported oil all point toward the need for a new transportation future.

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Report | U.S. PIRG | Health Care

Paying the Price

As this report shows, high prescription drug prices are a problem for Americans of all ages, particularly for the uninsured.

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Blog Post | Financial Reform

House Committee Launches Trojan Horse Assault On State Privacy Laws | Ed Mierzwinski

This afternoon (Tuesday, 8 December), the U.S. House Financial Services Committee launches a massive attack on state privacy laws. Hidden inside a seemingly modest proposal to establish federal data breach notice requirements is a Trojan Horse provision designed to to take state consumer cops off the privacy beat, completely and forever. That's wrong, because the states have always been key first responders and leaders on privacy threats that Congress has ignored, from credit report accuracy and identity theft to data breaches and do-not-call lists.

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Blog Post | Public Health

The Phantom, and Other Menaces | Anya Vanecek

In the midst of warnings that the post-antibiotic era is quickly approaching, we see evidence that it has already arrived.

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Blog Post | Transportation

Pulling a FAST one on our Transportation Future | Sean Doyle

For the first time in a decade, and after roughly three dozen short-term extensions, Congress has pulled together and passed a transportation-funding law lasting longer than two years. There is only one problem: the new law is the wrong deal for the country.

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Blog Post | Public Health

Not-so-secret-Santas in Congress Using Spending Bill To Roll Back Health, Safety, Wallet Protections | Ed Mierzwinski

With spending authorization for the federal government set to end on December 11, Congressional leaders are working with powerful special interests on their not-so-Secret-Santa lists to use spending bills as vehicles to gut health, safety and wallet protections popular with the general public but not with Wall Street or the U.S. Chamber of Commerce. They know they cannot win a fair fight. So they’re loading up the must-pass funding bill with so-called “riders,” which are unrelated policies that couldn’t get passed on their own. Everything we fought for in Wall Street reform, including the CFPB, is on the chopping block. So are many other PIRG health, safety, wallet and democracy priorities.

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Blog Post | Consumer Protection

30 Years of "Trouble in Toyland," 30 Years of Safety Improvements | Anna Low-Beer

Every year, U.S. PIRG Education Fund releases Trouble in Toyland, a report on toy safety which examines toys bought at major national retailers, looking for safety hazards including toxic toys, choking hazards, labeling violations, powerful magnets, and excessibely loud toys. We continue to find these hazards on store shelves, which indicates the need for continued vigilance and adequate enforcement of safety regulations. But despite lingering dangers, in the last 30 years, we've come a long way in terms of both policy and compliance with standards.

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DEFEND THE CFPB

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