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Blog Post | Consumer Protection

House holds stacked hearing to attack retirement savings rule proposal | Ed Mierzwinski

The House Financial Services Committee is holding a typically stacked hearing -- one consumer-side witness against four Wall Street-backed lobbyists  -- to attack the important retirement savings rule proposed by the Department of Labor. The rule simply requires retirement advisors to put the customer's needs  -- not their own compensation -- first.

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Blog Post | Consumer Protection

Court Reinstates Case Against Bank That Aided Senior Citizen Fraud | Ed Mierzwinski

This week, the 3rd Circuit, U.S. Court of Appeals overturned a lower court decision that had denied class action status to victims of a scheme targeting senior citizens who were suing Zions Bank and its payment processor affiliates for aiding the fraudsters. U.S. regulators led by the Department of Justice have been fighting this and similar schemes, yet powerful special interests have managed to create a false narrative in Washington, DC that has been picked up by opponents of consumer protection laws. They falsely claim that the government's target is "legitimate" payday lenders and gun dealers. Wrong, the target is financial crimes against consumers, many consumers.

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Blog Post | Consumer Protection

IRS Admits Data Breach Worse Than Thought, Will Congress Do Wrong Thing Anyway? | Ed Mierzwinski

This week, the IRS has admitted that thieves accessed the personal information -- enough to allow them to take your tax refund -- of an additional 220,000 taxpayers, on top of the 114,000 reported in May. Meanwhile, we remain  concerned that Congress will use continued publicity about the Target breach and other breaches as an excuse to pass dangerous data security legislation. Dangerous? Yes, because it would only protect against limited financial identity theft harms, but eliminate stronger state protections against the harms posed by the IRS breach, the health insurance breaches and the OPM breach.

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News Release | Illinois PIRG | Public Health, Consumer Protection, Safe Energy

Clean Power Plan Great News for Illinois

The Clean Power Plan is the single biggest action our nation has ever taken on climate and is great news for Illinois. The Illinois General Assembly and Governor Rauner can jump start strong state implementation of the Clean Power Plan by passing the Illinois Clean Energy Jobs Bill, which will save consumers money, protect our families' health, and ensure a safer climate for the future.

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Blog Post | Consumer Protection

House To Vote On Godzilla-Sized Rule Blocker, As Financial Committee Considers Smaller Rollbacks | Ed Mierzwinski

UPDATED: REINS Approved, near party line vote. Today, the House Financial Services Committee takes up a package of smaller rollback bills, many of which are opposed by Americans for Financial Reform and the PIRGs. Meanwhile, the House will bring up the Godzilla of all anti-health and safety bills, the REINS Act. Fortunately, the President has promised a veto.

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News Release | Illinois PIRG | Budget

Amendment Passes to Crack Down on Offshore Tax Cheats

A statement from Illinois PIRG on the passage of the Senate Amendment 1818, introduced by Senators Levin, Conrad, and Whitehouse to the Transportation Bill, which will stop foreign financial institutions in places like the Cayman Islands from aiding U.S. tax cheats.

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Media Hit | Tax

We want our money back

Good-governance groups are fighting back against companies that take state subsidies and then head out of town.

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News Release | Illinois PIRG | Budget

Facebook’s Tax Dodge Stands to Make Billions for Company and Zuckerberg

U.S. Senator Carl Levin isn’t necessarily the man you’d look to for the latest news about Facebook. However, today he broke some shocking news on the Senate floor about special tax favors that Facebook and its CEO, Mark Zuckerberg, will enjoy at great cost to the U.S. Treasury.

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News Release | Illinois PIRG | Tax

Progress Report: Promised Reforms to Protect Chicago Tax Dollars ‘Incomplete’

 

Yesterday, Mayor Rahm Emanuel announced that he will be immediately implementing some of the reforms proposed by his TIF Reform Panel five months ago. Today, watchdog group Illinois PIRG released a report on the need to fix TIF and called for all of the Mayor’s recommendations to become law.

 

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