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

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

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.

Debating trade and consumer protection in Brussels today

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

I am in Brussels today debating consumer protection and the proposed US-European trade treaty known as the TransAtlantic Trade and Investment Partnership or TTIP. Today's public event, and a second public meeting tomorrow (Wednesday with live webstream 9am-noon DC time) comparing the CFPB to its European counterparts, are sponsored by the PIRG-backed TransAtlantic Consumer Dialogue.

The foundation is crumbling

By | Bill Wenzel
Director, Healthy Farms, Healthy Families Campaign

What was missing from President Obama's visionary plan for medical progress? 

House Tees Up VW Bailout and Other Attacks on Public Protections, Consumer Rights

By | Ed Mierzwinski
Senior Director, Federal Consumer Program

(Updated 8 January to add vote results): You've probably heard that the House is soon planning to again repeal the Affordable Care Act (Obamacare). That bill will certainly be vetoed. But the House has other anti-consumer, anti-environmental bills scheduled for floor action this week and next. The bills take aim at agency health, financial and safety regulations and also consumer rights to band together as a class to take their grievances against corporate wrongdoers to court. That last bill would immunize Volkswagen from having to compensate VW Diesel owners for being deceptively sold cars designed to "defeat" air pollution requirements.

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