Reining in Wall Street

STANDING AGAINST THE BIG BANKS AND WALL STREET—For more than 20 years, Consumer Program Director Ed Mierzwinski has helped us stand up against big banks and credit card companies.

OUR FISCAL FUTURE

For years federal bank regulators ignored numerous warnings of increasingly predatory mortgage practices, credit card tricks and unfair overdraft policies used by the big Wall Street banks. They also ignored warnings of risky securities being packaged and sold to investors.

Since winning federal Wall Street reform, we’ve been working to defend those reforms from the industry’s attempts to defang, defund or delay them, in particular the Consumer Financial Protection Bureau, which is the centerpiece of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.

We’re working to:

Put consumers and taxpayers before big banks. Check irresponsible financial practices with new rules and stronger, independent enforcement by the Consumer Financial Protection Bureau.

Cover all players and transactions. Rein in hedge funds and reckless investments that escaped regulations, and traded without oversight on “shadow markets.” 

Control corporations that are “too big to fail.” Banks shouldn’t be able to freely gamble with taxpayer money covering the bets. We must rein in institutions whose risky investments threaten the larger economy.

In short, we’re fighting for a financial regulatory system that guarantees consumers and taxpayers are protected from the predatory practices at the heart of this problem. And we need to provide consumers a seat at the table when it comes to oversight of the nation’s financial system.

Issue updates

News Release | RIPIRG | Financial Reform

Senator Carl Levin Introduces Stop Tax Haven Abuse Act

Statement of RIPIRG Federal Legislative Office Director Gary Kalman on the introduction of the Stop Tax Haven Abuse Act.

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Report | RIPIRG | Financial Reform

Big Banks, Bigger Fees

Since Congress largely deregulated consumer deposit (checking and savings) accounts beginning in the early 1980s, the PIRGs have tracked bank deposit account fee changes and documented the banks’ long-term strategy to raise fees, invent new fees and make it harder to avoid fees. 

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News Release | RIPIRG | Financial Reform

RIPIRG Applauds President For “Bold and Important” Recess Appointment of Richard Cordray To Head New CFPB

President Obama is taking a bold and important step to protect consumers from financial tricks and traps by announcing a recess appointment of his well-qualified nominee, Richard Cordray, to head the new Consumer Financial Protection Bureau.

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News Release | RIPIRG | Financial Reform

Statement of U.S. PIRG Consumer Program Director Ed Mierzwinski on Final Passage of Wall Street Bailout Legislation Today

U.S. PIRG is deeply disappointed that Congress punted on enacting critical protections for taxpayers and homeowners in the Wall Street bailout legislation passed today. 

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News Release | RIPIRG | Financial Reform

Statement: Defeat of Wall Street Bailout

Today the House of Representatives listened to concerned Main Street voters and taxpayers and defeated a defective Wall Street bailout.

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News Release | RIPIRG | Financial Reform

Statement of U.S. PIRG Consumer Program Director Ed Mierzwinski on Final Passage of Wall Street Bailout Legislation Today

U.S. PIRG is deeply disappointed that Congress punted on enacting critical protections for taxpayers and homeowners in the Wall Street bailout legislation passed today. 

> Keep Reading
News Release | RIPIRG | Financial Reform

Statement: Defeat of Wall Street Bailout

Today the House of Representatives listened to concerned Main Street voters and taxpayers and defeated a defective Wall Street bailout.

> Keep Reading

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