Financial Reform

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.

Virtual wallet, payment app complaints skyrocket

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

Consumers increasingly are using digital peer-to-peer payment (P2P) apps for convenience. However, that convenience can quickly turn to inconvenience as the result of these apps’ often-confusing design, poor customer service and propensity for being used for scams and fraud. The number of written complaints to the Consumer Financial Protection Bureau (CFPB) about these apps and other financial tools in the “mobile or digital wallet” category has skyrocketed in recent years, reaching new heights in 2021.

Cover photo by grinvalds via IStock 

Bipartisanship Works in State Attorneys General Lawsuits Against Big Tech’s Google and Facebook

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

In late 2020, state and federal consumer cops filed several enforcement actions against the powerful Big Tech platforms Google and Facebook over practices alleged to violate antitrust and competition laws.  What is notable about these efforts is the degree of bipartisanship and collaboration involved. Ideally, Congress will find a way to follow the bipartisan lead of the state consumer cops and make its continued investigations and actions against the Big Tech firms that now dominate the economy more effective.

News Release | U.S. PIRG | Financial Reform

Historic legislation to prevent predatory loans passes Illinois General Assembly

Illiinois PIRG applauds passage of predatory lending reform capping usury ceiling at 36% APR. Measure sent to governor. Illinois will become the 18th state, along with the District of Columbia, that effectively bans payday loans.

News Release | U.S. PIRG | Financial Reform

Federal regulators, states file antitrust lawsuits against Facebook

Statement: "U.S. PIRG welcomes the Facebook lawsuits by 48 state and territorial attorneys general and federal regulators."

Voters support strong CFPB, strong protections against Wall Street, payday lenders

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

Polls show voters, across party lines, want both a strong CFPB and strong Wall Street, payday lender and debt collector oversight. Will the next Congress listen to them and undo this Administration's myriad rollbacks of consumer and investor financial protections?

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

Putting Consumers First

U.S. PIRG Education Fund, the Student Borrower Protection Center and Consumer Action have released a report recommending that  CFPB should use the full extent of its authority to take immediate action to strengthen its consumer complaint tool, hold companies accountable for providing complete and timely responses to consumers, and leverage consumer complaints related to the pandemic to support oversight and regulatory action to protect consumers.

News Release | U.S. PIRG Education Fund | Financial Reform

Americans need stronger consumer protections during COVID-19 crisis

U.S. PIRG Education Fund has released a report with the Student Borrower Protection Center and Consumer Action. The report makes recommendations to the Consumer Financial Protection Bureau (CFPB) to upgrade its consumer complaint tool, including the public consumer complaint database, so COVID19-related complaints can be handled more quickly and tracked better.

Consumer Groups & Bank Associations Urge Congress To Protect COVID19 Checks From Garnishment

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

Yesterday, U.S. PIRG joined leading consumer groups and bank trade associations in a joint letter urging Congress at the soonest possible opportunity to clarify that economic impact payments responding to this public health emergency are exempt from otherwise legally binding garnishment orders.

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