Financial Reform

News Release | ConnPIRG | 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.

Report | ConnPIRG and Citizens for Tax Justice | 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 | ConnPIRG 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 – Connecticut Public Interest Research Group (ConnPIRG) and Citizens for Tax Justice reveal 30 corporations that spent more to lobby Congress than they did in taxes.

News Release | Financial Reform

Senator Carl Levin Introduces Stop Tax Haven Abuse Act

Statement of ConnPIRG Federal Legislative Office Director Gary Kalman on the introduction of the Stop Tax Haven Abuse Act.

News Release | Financial Reform

Off Shore Tax Havens Cost Connecticut Taxpayers $2 Billion a Year

Major corporations and some individuals avoid a total of as much as $100 billion a year in federal taxes by “off-shoring” the profits they make here in the U.S. or by setting up sham headquarters in tax haven countries. As a result, Connecticut taxpayers are left footing the bill.

News Release | Financial Reform

New Survey Shows Banks Still Hiding Fees From Consumers

A survey of more than 350 bank branches released today by the Connecticut Public Interest Research Group revealed that fewer than half of branches obeyed their legal duty to fully disclose fees to prospective customers, while one in four provided no fee information at all.

News Release | Financial Reform

House Kneecaps Wall Street Reform Funding, But Goal is Worse

New In the Public Interest column today on The Huffington Post by Ed Mierzwinski, Consumer Program Director for U.S. Public Interest Research Group (U.S. PIRG).

News Release | Financial Reform

Consumer Financial Protection Bureau on Track for July Launch

Six months after Wall Street reform legislation creating the new Consumer Financial Protection Bureau (CFPB) was signed, a leading coalition released Halfway to the CFPB: An AFR Progress Report on “Standing Up” the New Consumer Financial Protection Bureau.

Proposed Interchange Fee Reduction is a Win for Consumers

Today ConnPIRG applauded the proposed regulations of the Federal Reserve Board of Governors to decrease swipe fees on debit card transactions.  Consumers however, hope to see the Fed adopt a much greater reduction in interchange fees in the final rule due in April, 2011.

News Release | Democracy, Financial Reform, Tax

Foreign Funds in American Elections

This week we learned that the U.S. Chamber of Commerce could be using money from foreign corporations to fund attack ads in our elections. According to reporting released by Think Progress, the U.S. Chamber of Commerce, collects hundreds of thousands of dollars from foreign owned businesses, including companies owned by foreign governments. The Chamber has already run more than 8,000 attack ads and according to the Washington Post, the U.S. Chamber of Commerce “vows to spend $75 million or more on November's midterm election cycle.”

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