Financial Reform

Issue | Health Care

Fighting The High Cost Of Rx Drugs

Brand-name drug companies have been paying off generic drug makers to delay competition and keep prices high. This widespread pay-for-delay scheme needs to be put to an end. 

News Release | WashPIRG Foundation | Consumer Protection, Financial Reform

New Survey Shows Free Checking Widely Available At Small Banks But Banks Still Hiding Fees from Consumers

A survey of hundreds of banks and credit unions in 24 states and the District of Columbia found that free checking remains available at more than 6 out of 10 small banks and credit unions but was only found at one-quarter of surveyed big banks (those with over $10 billion in deposits). The survey released today by the WashPIRG Foundation also revealed that fewer than half of branches surveyed obeyed their legal duty to fully disclose fees to prospective customers on the first request, while 12% provided no fee information at all.

Report | WashPIRG Foundation | Financial Reform

Big Banks, Bigger Fees: A National Survey of Fees and Disclosure Compliance

A survey of hundreds of banks and credit unions in 24 states and the District of Columbia found that free checking remains available at more than 6 out of 10 small banks and credit unions but was only found at one-quarter of surveyed big banks (those with over $10 billion in deposits). The survey also revealed that fewer than half of branches surveyed obeyed their legal duty to fully disclose fees to prospective customers on the first request, while 12% provided no fee information at all.

News Release | WashPIRG | Financial Reform

Robo-Signing Settlement With Big Banks Is Important Step

Today's settlement by the U.S. and 49 state attorneys general with the 5 biggest mortgage servicers - the big banks Citibank, Bank of America, Wells Fargo and JP Morgan Chase, along with Ally Financial - is an important and enforceable first step toward holding the big banks accountable for not only wrecking the economy but using a variety of unfair foreclosure practices to ruin the lives of millions of Americans and, in many cases, taking their homes illegally.

News Release | WashPIRG and Citizens for Tax Justice | Financial Reform

Thirty Fortune 500 Companies Paid More to Lobby Congress than they Did in Federal Income Taxes

With the second anniversary approaching of the Supreme Court’s decision in the Citizens United case – which opened the floodgates to corporate spending on elections – Washington Public Interest Research Group (WashPIRG) and Citizens for Tax Justice reveal 30 corporations that spent more to lobby Congress than they did in taxes.

Report | WashPIRG Foundation | Financial Reform

Representation Without Taxation

Marking the second anniversary of the Supreme Court’s decision in the Citizens United vs. Federal Election Commission case, this report takes a hard look at the lobbying activities of profitable Fortune 500 companies that exploit loopholes and distort the tax code to avoid billions of dollars in taxes.

News Release | WashPIRG | Consumer Protection, Financial Reform

WashPIRG Statement of Support for Confirmation of Richard Cordray as Director of CFPB

On Tuesday, Sept. 6 the US Senate is set to begin hearings on the confirmation of President Obama’s choice of Richard Cordray as Director of the Consumer Financial Protection Bureau, and The Washington Public Interest Research Group (WashPIRG) is calling on Senators Patty Murray and Maria Cantwell for their support of this outstanding nominee. 

Report | WashPIRG | Financial Reform

Ten Reasons Why We Need the Consumer Financial Protection Bureau Now

This report outlines predatory financial practices that hurt consumers and helped collapse the economy, costing us eight million jobs, millions of foreclosed homes and trillions of dollars in lost home and retirement values. It explains these and other emerging problems as “10 Reasons We Need The Consumer Financial Protection Bureau Now.”

Media Hit | Financial Reform

Senate needs to move forward on confirming new chief for the Consumer Financial Protection Bureau

The good news is that on July 21 the landmark Consumer Financial Protection Bureau (CFPB) takes over as the nation’s chief consumer bank regulator. The bad news is that because no director has been confirmed, the Bureau will not be able to effectively protect consumers in the financial marketplace that includes payday lenders, mortgage companies, and credit bureaus.

News Release | WashPIRG | Financial Reform

WashPIRG Statement on the Introduction of the Stop Tax Haven Abuse Act

“No company or individual should be able to game the tax system to avoid paying what they legitimately owe. And, yet, establishing shell companies in off-shore havens for the purpose of tax avoidance is becoming more the rule than the exception for at least 83 of the nation’s top 100 publicly traded companies."

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