Financial Reform

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.”

News Release | Financial Reform

Senate Financial Reform Bill - Some Improvements, More Needed

The Connecticut Public Interest Research Group applauds Chairman Christopher Dodd and a majority of the Senate Banking Committee for Monday evening’s vote to move a Wall Street reform package to the Senate floor.

News Release | Financial Reform

ConnPIRG Statement on Chairman Dodd's Wall Street and Consumer Protection Reform

We applaud Chairman Dodd of the U.S. Senate Banking Committee for moving forward towards passage of legislation to protect American consumers and increase the stability of the economy. We expect that Wall Street bankers who wrecked the economy and were then bailed out by the taxpayers will continue to try to delay or kill this reform designed to protect people on Main Street

News Release | Financial Reform

New Legislation Would Protect Shareholders Rights

Rep. Mike Capuano (D-MA) has introduced a bill – the Shareholder Protection Act [H. R. 4537] – which requires shareholder approval of political spending, and today, the bill receives a hearing in the House Financial Services Committee.

News Release | Democracy, Financial Reform

Citizen United Solution Unveiled

Senator Chuck Schumer and Representative Chris Van Hollen introduced a series of strong reforms in response to the Supreme Court’s disastrous Citizens United ruling.

Citizens United Opinion Widens Corporate "Personhood" Rights

Today’s Supreme Court decision in Citizen’s United vs. Federal Election Commission will significantly expand the role that the most powerful corporations play in election financing. In a shocking burst of judicial activism, the Supreme Court decided that corporations should be treated in the same manner as ordinary citizens and be allowed to spend the massive amounts of money they accumulate on direct attack ads for or against Members of Congress.

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