Financial Reform

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."

News Release | WashPIRG | Financial Reform

Keeping Foxes In Charge of the Chicken Coop

With overwhelming public support that continues, Congress in July 2010 passed important new financial rules and created the Consumer Financial Protection Bureau (CFPB) to oversee and regulate financial services from a consumer-based perspective. Now, less than two months before the landmark consumer cop takes over, the U.S. House of Representatives is poised to “stick a knife in its ribs,” in the words of Elizabeth Warren, who has been tasked by President Obama with running the CFPB.

News Release | WashPIRG | Financial Reform

Two Years After Passing the Credit CARD Act, Congress Steps Up Attacks on Consumer Cop Designed to Enforce It

“The Credit CARD Act of 2009 has eliminated numerous credit card tricks and traps without causing skyrocketing interest rates or any of the other horrible side-effects that the banks once warned about.  In spite of that success, the banks and their Congressional allies are now seeking to eliminate the CFPB, the new consumer cop created to enforce the CARD Act and protect consumers from other tricks of the trade, like deceptive mortgage practices and unfair overdraft fees.

News Release | WashPIRG | Financial Reform

Off-shore tax havens cost each WA taxpayer $390 extra this year

Major corporations, including Boeing, avoid a total of up to $100 billion each year in federal taxes by “off-shoring” the profits they make in the U.S. or by setting up sham headquarters in tax haven countries. As a result, Washington taxpayers are left to make up the difference.

Media Hit | Financial Reform

On Tax Day, consumer group urges state taxpayers to protest corporate tax loopholes

Big corporations, including The Boeing Co., avoid up to $100 billion each year in federal taxes by “off-shoring” the profits they make in the United States or by setting up sham headquarters in tax haven countries. As a result, Washington taxpayers are left to make up the difference, according to the Washington Public Interest Research Group.

Media Hit | Financial Reform

Join Efforts to Pass Bank Reform

WashPIRG is calling on consumers to help bring an end to the deceptive practices and wild speculation that brought down the economy.

Media Hit | Financial Reform

Questioning the role of wealthy corporations in our tax structure

Yesterday was the last day for filing federal tax returns for most Americans. A number of anti-tax groups chose the day to stage modern day “Tea Parties.”

Beat High Bank Fees

Banks rely on consumer indifference when they raise fees. They count on consumers not shopping around. PIRG’s Big Banks, Bigger Fees reports routinely find that small banks and credit unions are not following the big banks’ lead; they still offer many free or low cost accounts.

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