WashPIRG Ban Roundup & CFPB Homepage 3.16.17

What's New

Letter: Protecting the FTC from Special Interest Attacks

While much of our work has been in defense of the Consumer Financial Protection Bureau (CFPB), we also support the efforts of the over-100 year old Federal Trade Commission.

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Blog Post | Consumer Protection

Delayed CFPB/Other Wall Street Reform Rollbacks Happening Today On House Floor | Ed Mierzwinski

Last month the House canceled floor consideration of the Financial Services and General Government Appropriations bill. FSGG is back on the floor today and tomorrow. We urge support of amendments to protect the Consumer Financial Protection Bureau (CFPB) but, since they won't pass, we urge a no vote on the bill. Here's an updated excerpt from my previous blog.

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Blog Post | Consumer Protection

Court Rejects PIRG-Opposed Swipe Fee Settlement With Visa/Mastercard | Ed Mierzwinski

Today, a panel of the U.S. Court of Appeals for the Second Circuit threw out a preliminary $7.25 billion settlement between Visa and Mastercard and any merchant accepting credit cards (including U.S. PIRG), ruling that despite that seemingly massive payment for past practices that the settlement gave inadequate relief to merchants going forward, as it essentially immunized the networks for any future illegal conduct while providing mostly illusory benefits. Since we accept credit cards from our members, we, joined by Consumer Reports, had formally objected to the settlement as consumer advocates who also happen to be merchant class members (most merchant associations also objected).

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Blog Post | Consumer Protection

House Launches Frenzy of Attacks on CFPB, Public Protections | Ed Mierzwinski

Today and tomorrow the House floor showcases a variety of special-interest backed bills designed to eliminate public protections and weaken financial reform. Action starts soon with an attempt to override the President's veto of legislation to wipe away a new Department of Labor rule designed to protect hard-earned retirement savings from Wall Streeters seeking their "share" of your own share. Then, the House will consider the massive FSGG Appropriations bill, which rolls back the independence and authority of the CFPB and other financial reforms. Finally, they've teed up a bill to eliminate the Supreme Court's long-standing "Chevron doctrine," which says that courts must defer to expert agencies in certain circumstances. Without the doctrine in place, polluters and wrongdoers will have more opportunities to challenge public protections.

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Blog Post | Public Health, Antibiotics

Grilling to protect public health | Anya Vanecek

With antibiotics, we can all enjoy the summer free from the worry that a stumble on the sidewalk or a minor burn from the grill could turn into a serious illness. So what could be a better centerpiece to the picnic table than meat raised without routine antibiotics?

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News Release | WashPIRG | Tax

Deepwater Horizon Settlement Comes with $5.35 Billion Tax Windfall

Today’s announcement by the U.S. Department of Justice of a proposed $20.8 billion out-of-court settlement with BP to resolve charges related to the Gulf Oil spill allows the corporation to write off $15.3 billion of the total payment as an ordinary cost of doing business tax deduction. The majority of the settlement is comprised of tax deductible natural resource damages payments, restoration, and reimbursement to government, with just $5.5 billion explicitly labeled a non-tax-deductible Clean Water Act penalty. This proposed settlement would allow BP to claim an estimated $5.35 billion as a tax windfall, significantly decreasing the public value of the agreement, and nearly offsetting the cost of the non-deductible penalty.

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News Release | WashPIRG | Consumer Protection

Statement on Experian Breach of T-Mobile Customer Data

In the wake of a massive data breach affecting Experian’s computers holding 15 million files of T-Mobile hacked customers and applicants, we question why the firms are offering credit monitoring instead of paying to place credit, or security, freezes on all three of each victim’s credit reports. Only the security or credit freeze, available in any state, stops new account identity theft. Potential victims should freeze all of their “Big 3” credit reports from Experian, Equifax and TransUnion.

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News Release | WashPIRG Foundation | Democracy

New study shows potential impact of a small donor matching program on 2016 presidential race

Candidates in the 2016 presidential race would see a dramatic shift in their fundraising, and have a powerful incentive to focus more on small donors under a proposed small donor public financing system, according to a study released on Tuesday by the U.S. Public Interest Research Group (U.S. PIRG). Using candidate filings with the Federal Election Commission (FEC) through July, “Boosting the Impact of Small Donors: How Matching Funds Would Reshape the 2016 Presidential Election” examines the impact of a program that matches small contributions with limited public funds for candidates who agree not to accept large donations.

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News Release | WashPIRG Foundation | Consumer Protection

New Report: Mortgage Problems Rank #1 at CFPB for Consumer Complaints

Mortgage problems were the top source of complaints to the Consumer Financial Protection Bureau (CFPB), according to a report released by the WashPIRG Foundation. The report also found that Bank of America was the most complained about company in Washington for mortgage problems. 

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News Release | WashPIRG | Transportation

Transportation Deal Wasteful, Misguided, Environmentally Irresponsible

WashPIRG is calling on state representatives to reject the transportation deal, as wasteful and full of misplaced priorities.  WashPIRG has opposed previous iterations of the transportation package because they would increase taxes to pay overwhelmingly for highway expansions that are largely unjustified, and would worsen pollution and climate change emissions – all while shortchanging funding for the repair and maintenance of our existing roads and bridges.  The deal crafted by state leaders will worsen the state of repair of Washington’s transportation system – reducing the ratio of funding to bridge repair and maintenance and doubling down on funding for questionable projects such as the Puget Sound Gateway.  

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Report | WashPIRG Foundation | Democracy

McCutcheon Money

We project that striking the aggregate limit would bring more than $1 billion in additional campaign contributions from elite donors through the 2020 election cycle.

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Report | WashPIRG Foundation | Transportation

A New Way to Go

Early evidence suggests that new innovations in technology and social networking are beginning to change America’s transportation landscape. New transportation services are providing people with an abundance of new options, helping to overcome barriers to the use of non-driving forms of transportation, and shifting the economics behind individuals’ travel choices. Collectively, they are also opening up the opportunity for more Americans to adopt “car-free” and “car-light” lifestyles with dramatically less driving.

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Report | WashPIRG Foundation | Consumer Protection

Big Banks, Big Complaints

The Consumer Financial Protection Bureau (CFPB) was established in 2010 in the wake of the worst financial crisis in decades. Its mission is to identify dangerous and unfair financial practices, to educate consumers about these practices, and to regulate the financial institutions that perpetuate them. 

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Report | WASHPIRG Foundation | Transportation

Moving Off the Road

Americans have cut their per-person driving miles in 46 states plus Washington, D.C., since the middle of the last decade. The states with the biggest reductions in driving miles generally were not the states hit hardest by the economic downturn. The majority—almost three-quarters—of the states where per-person driving miles declined more quickly than the national average actually saw smaller increases in unemployment compared to the rest of the nation.In Washington state, driving per person in has fallen nearly 9 percent since 1999—it's peak driving year.

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Report | WashPIRG | Tax

Offshore Shell Games

Many large U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens – countries with minimal or no taxes. By booking profits to subsidiaries registered in tax havens, multinational corporations are able to avoid an estimated $90 billion in federal income taxes each year. These subsidiaries are often shell companies with few, if any employees, and which engage in little to no real business activity. 

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Blog Post | Public Health

The Flint Water Crisis: What You Need to Know | Anna Low-Beer

With President Obama clearing the way for federal aid in Flint, Michigan last month, the water crisis is receiving immediate attention. The city was badly in need of a short-term fix, but what about the future of affected Flint citizens?

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Blog Post | Consumer Protection, Financial Reform

100+ Groups Oppose Provisions That Threaten Public Protections | Mike Litt

The White House is expected to release its fiscal year 2017 budget proposal tomorrow. U.S. PIRG and various state PIRGs joined a coalition of more than 100 groups that sent the following letter calling on President Barack Obama and all 535 members of Congress to oppose any federal appropriations bill that contains ideological policy riders. 

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Blog Post | Financial Reform

CFPB Criticizes Banks Re Account Opening and Overdrafts, Offers Consumer Tips | Ed Mierzwinski

Today, the CFPB is holding a field hearing in Louisville on problems consumers face when opening bank accounts. It finds that big banks frequently offer consumers expensive accounts where they risk overdraft fees instead of affordable accounts. Further, the CFPB finds that the practices of specialty "bad check" credit bureaus make it harder to open accounts. The CFPB issued warnings to both the banks and credit bureaus while providing consumers with new tips and advice.

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Blog Post | Public Health

Nicely Done, Attorneys General | Steve Blackledge

This month 12 state attorneys general highlighted the importance of state power to regulate toxic chemicals. We thank them for their efforts. 

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Blog Post | Public Health

Five Things You Should Know About DuPont Chemical Company | Anna Low-Beer

DuPont Chemical Company knew it was polluting communities with a toxic chemical, but kept it quiet for decades. Here's what else you need to know about the industry giant. 

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Priority Action

We're calling on big restaurant chains to stop the overuse of antibiotics on factory farms. Tell KFC to stop serving meat raised on routine antibiotics.

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