Consumer Protection News

OSPIRG today said that several leaked draft proposals to make the proposed Consumer Financial Protection Agency (CFPA) subservient to other bank regulators that would have veto power over its decisions “won’t do the job and will let reckless Wall Street banks win over consumers living on Main Street.”

The new financial reform legislation passed by the House of Representatives on Friday is an important step towards protecting consumers and taxpayers from reckless financial practices, according to U.S. Public Interest Research Group, a national consumer organization and OSPIRG, the Oregon State Public Interest Research Group.

A leading consumer group today urged all members of the House of Representatives to oppose bank-backed efforts that would gut the Consumer Financial Protection Agency, centerpiece of Wall Street reform efforts on the House floor this week.

Today, the U.S. House Financial Services Committee approved a bill to create an independent agency with broad authority to protect consumers in the financial marketplace.

Statement of OSPIRG Consumer Advocate Matt Wallace on Bank of America and Chase announcements of changes to their overdraft policies

As the legislative session drew to a close, Oregon lawmakers took action to address the foreclosure crisis by passing SB 628.

Today the Public Safety Subcommittee of Ways and Means passed an amended version of SB 628-- a bill to address the foreclosure crisis in Oregon.

OSPIRG commends the Senate on overwhelming passage of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act.

Major US corporations avoid as much as $100 billion a year in federal taxes by hiding profits in foreign countries. According to a new OSPIRG report released today, this tax loophole results in over $940 million in additional tax burdens for taxpayers here in Oregon.

In honor of National Consumer Protection Week, OSPIRG today released a new compilation of tips and information designed to help consumers avoid ripoffs, fraud, and unfair practices made worse by the recession.

Hazardous toys are still sold in stores across the country, despite a new law overhauling the nation’s product safety watchdog agency, according to the 23rd annual toy safety survey released today by the Oregon Student Public Interest Research Group (OSPIRG).

Hazardous toys are still sold in stores across the country, according to the 22nd annual toy safety survey released today by OSPIRG. “While we have seen progress after more than two decades of advocacy on behalf of America’s littlest consumers, OSPIRG’s researchers still found trouble in toyland on store shelves this month,” said Matt Wallace, OSPIRG Consumer Associate. “But recent high profile product recalls have given us a chance to urge Congress to pass strong product safety reforms, and give kids the best holiday gift of all.”

SALEM—Today, Governor Kulongoski signed four bills into law to protect consumers from predatory financial services, and put an end to payday and title loans’ triple-digit percent interest rates.

College students are still paying too much for their textbooks, as book prices skyrocket at four times the rate of inflation, according to a new report released by the Oregon State Public Interest Research Group (OSPIRG) and Oregon Student Association.

Consumer advocates vow to fight on to protect Oregon consumers even though the insurance industry spent $5 million to kill Measure 42, a consumer protection measure to stop insurance companies from using credit scores to raise insurance rates.