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Blog Post | Consumer Protection

This week, CFPB Sues TCF Bank for overdraft schemes and loan servicer Navient for "failing" students | Ed Mierzwinski

Despite an escalation of threats to exterminate the Consumer FInancial Protection Bureau, CFPB continues to protect consumers well. This week it sued TCF Bank over deceptive overdraft marketing schemes and it sued Navient, the student loan servicer and Sallie Mae spinoff, for "failing" students at every step of the repayment process. The TCF complaint notes that its CEO brazenly named his boat "Overdraft."

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Blog Post | Consumer Protection

CFPB Report Finds 1 In 4 Consumers Feel "Threatened" By Debt Collector Tactics | Ed Mierzwinski

We joined Consumer Financial Protection Bureau Director Richard Cordray and Washington, DC Attorney General Karl Racine for release of new CFPB data on debt collector abuses. Fully 1 in 4 consumers feel "threatened" by abusive, possibly illegal, debt collector tactics. The release also included an emphasis on problems with the "debt buyer" industry, comprised of firms that buy older, uncollected debt for as little as less than a penny on the dollar.

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News Release | U.S. PIRG | Financial Reform

CFPB Taps Former Pentagon Legal Official to Head Office of Servicemember Affairs

We join National Consumer Law Center, Americans for Financial Reform and other leading groups in a release commending the appointment of senior Pentagon official Colonel Paul Kantwill (U.S. Army, Retired) to lead the Consumer Financial Protection Bureau’s (CFPB) Office of Servicemember Affairs. The CFPB plays an important role in protecting servicemembers, veterans and their families from financial predators.

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Blog Post | Financial Reform

CFPB Slams Two Credit Bureaus For Deceptive Marketing, Expect Experian Next | Ed Mierzwinski

This week, the Consumer Financial Protection Bureau nailed two "big 3" credit bureaus --Trans Union and Equifax -- for deceptive marketing of their over-priced, under-performing credit monitoring subscription products.  Combined fines and consumer restitution total $23 million. I predict that the CFPB will also bring a case against the remaining bureau, Experian, and that it will pay much more, because Experian really has led the way in aggressively marketing these tawdry products. They don't prevent identity theft, nor do they always accurately disclose your credit score, at fees of up to $16.95/month or more. Yikes!

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Blog Post | Consumer Protection

This New Year, Celebrate the CFPB | Ed Mierzwinski

This month, we published our 8th report based on analyzing consumer complaints collected in the CFPB's Public Consumer Complaint Database. The release of "Big Banks, Big Overdraft Fees" provides a good year-end opportunity to summarize a few of the reasons to be thankful for the Consumer Financial Protection Bureau, which took over in July 2011 as the first federal regulator with just one job: protecting consumers from unfair financial practices. The idea of the CFPB needs no defense, only more defenders.

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News Release | PIRGIM Education Fund | Budget

Michigan Receives an “A-” in Annual Report on Transparency of Government Spending

Michigan received an “A-” 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 PIRGIM Education Fund. 

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News Release | PIRGIM Education Fund | Consumer Protection

Survey Finds Dangerous Toys on Store Shelves

Dangerous or toxic toys can still be found on America’s store shelves, according to The Public Interest Research Group in Michigan’s 27th annual Trouble in Toyland report.

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News Release | PIRGIM Education Fund | Democracy

Big Money and Secret Spending Distorting Democracy

A new analysis of pre-election data from the Federal Election Commission (FEC) and other sources by PIRGIM Education Fund and Demos shows that outside spending in the first presidential election since Citizens United is living up to its hype: new waves of “outside spending” have been fueled by dark money and unlimited fundraising from a small number of wealthy donors. Outside spending organizations reported $1.11 billion in spending to the FEC through the final reporting deadline in the 2012 cycle. That’s already a 200% increase over total 2008 outside spending.

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News Release | PIRGIM Education Fund | Consumer Protection

New Report: American Lives at Risk from Unsafe Foods

Despite government commitments to address the problem, food recalls are on the rise and our food safety systems are broken, according to a new report by PIRGIM and U.S. PIRG.  Contaminated food makes 48 million Americans sick every year and costs over $77 billion in aggregated economic costs.

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Media Hit | Democracy

Mlive.com: East Grand Rapids grad's super PAC: Good for Romney, bad for democracy?

 An East Grand Rapids native’s role in heading the country’s largest Super PAC was profiled Wednesday by The Detroit News... But Super PACs like Restore Our Future are drawing criticism for how they allegedly give rich people a bigger voice in election campaigns than the average Joe.

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Blog Post | Democracy

Live from Lansing: the Latest Attempt to Undo Campaign Finance Law | Eric Mosher

As the Michigan House prepares to vote on legislation (S.B. 661) that would water down campaign finance regulation and decrease oversight of dark money in elections, PIRGIM fights back.

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