Financial Reform

Report | U.S. PIRG Education Fund | Financial Reform

The hidden costs of Buy Now, Pay Later

Report on issues with "Buy Now, Pay Later" financing plans.

CFPB focuses on consumer pain points

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

Yesterday’s announcement of a new report finding stupefying amounts of medical debt on consumer credit reports continues the Biden CFPB’s focus on identifying and responding to consumer pain points caused by a financial marketplace that doesn’t always work for consumers. The CFPB has your back!

Photo courtesy Americans for Financial Reform, All rights reserved.

Crypto has gone mainstream. But where are the watchdogs?

By | Adrian Pforzheimer
Policy Analyst, Frontier Group

Matt Damon strides past images of humankind’s boldest explorers: ocean voyagers, early aeronauts, mountaineers in a new cryptocurrency ad. If this were an ad for a new drug, or a regulated financial product, you’d expect the images of boldness and bravery to be accompanied by a lengthy disclaimer. You don't. Find out more.

Image credit Kanchanara via Unsplash

Whacked by bank or credit card junk fees? The CFPB wants to know.

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

If you’ve been whacked by unexpected or unfair penalty or other junk fees by a bank, mortgage company, or credit card company, the CFPB wants to hear from you. You can send the CFPB a comment on its new “initiative to save households billions of dollars a year by reducing exploitative junk fees.” Find out more here. 

Cover photo "Fees Key" by Gotcredit.com via Flickr. Some rights reserved.

CFPB Slams Big 3 Credit Bureaus for Excuses, “Deficiencies” and Failures

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

A major new CFPB report assails the Big 3 credit bureaus for a series of excuses, “deficiencies” and failures. CFPB found that “Equifax, Experian, and TransUnion routinely failed to fully respond to consumers with errors.” Wow.

Cover graphic “Epic Fail” by Dunk via Flickr, some rights reserved.

News Release | U.S. PIRG | Financial Reform

In Response to Suit, CFPB Concedes It Created and Operated Trump-Era Taskforce in Violation of Federal Transparency Law

Coalition press release announcing favorable court-approved settlement reached with the Biden CFPB over Trump CFPB's creation of an illegal TaskForce on Federal Consumer Financial Law.  

The CFPB Wants Your Help Investigating BigTech Payment Apps

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

The CFPB has asked BigTech giants including Amazon, Apple, Facebook, Google, PayPal, and Square to answer questions about their payment system practices. The CFPB has also asked consumers, small businesses and others for comments (including complaints), which are due on December 6. Learn more.

Graphic from the Internet Archive Wayback Machine's first crawl of the new CFPB's new website, February 8, 2011.

CFPB's Chopra Seeks To Increase Competition in Consumer Markets

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

In testimony this morning before the House and tomorrow morning before the Senate, newly-confirmed Consumer Financial Protection Bureau (CFPB) director Rohit Chopra will lay out his vision for the federal financial agency with just one job, protecting consumers.

Broadband is the "new electricity"

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

The House should pass the bipartisan infrastructure bill on the House floor this week. Among other provisions, it allocates $65 billion to make fast broadband more available -- especially in rural and tribal areas -- and more affordable. That total includes about $14 billion to subsidize access and about $42 billion to deploy broadband. Also, broadband providers would be required to use a new pricing label based on the easy-to-read FDA nutrition labels.

Photo of "Rural Broadband Buildout Project" by Maryland GovPics, via Flickr, some rights reserved.

Efforts continue to make climate change a financial regulatory priority

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

Half the country faces fire and wind, the other half wind, rain and flood. Despite nay-saying from some members of Congress, the Biden administration's financial regulators continue to make the global climate change crisis a financial regulatory priority. 

Cover graphic by Ron Mader via Flickr, some rights reserved.

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