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Ed Mierzwinski
Senior Director, Federal Consumer Program

Today, a panel of the U.S. Court of Appeals for the Second Circuit threw out a preliminary $7.25 billion settlement between Visa and Mastercard and any merchant accepting credit cards (including U.S. PIRG), ruling that despite that seemingly massive payment for past practices that the settlement gave inadequate relief to merchants going forward, as it essentially immunized the networks for any future illegal conduct while providing mostly illusory benefits. Since we accept credit cards from our members, we, joined by Consumer Reports, had formally objected to the settlement as consumer advocates who also happen to be merchant class members (most merchant associations also objected).

 | by
Ed Mierzwinski
Senior Director, Federal Consumer Program

Today and tomorrow the House floor showcases a variety of special-interest backed bills designed to eliminate public protections and weaken financial reform. Action starts soon with an attempt to override the President's veto of legislation to wipe away a new Department of Labor rule designed to protect hard-earned retirement savings from Wall Streeters seeking their "share" of your own share. Then, the House will consider the massive FSGG Appropriations bill, which rolls back the independence and authority of the CFPB and other financial reforms. Finally, they've teed up a bill to eliminate the Supreme Court's long-standing "Chevron doctrine," which says that courts must defer to expert agencies in certain circumstances. Without the doctrine in place, polluters and wrongdoers will have more opportunities to challenge public protections.

For many, when they think of combating global warming, they think of solar panels on rooftops and eliminating coal fired power plants. But, the truth is, there is not an effective solution to address global warming that does not deal with transportation as well.

This election cycle news about money in politics, election fiascos and voting rights is breaking at the speed of, well, Twitter. If you want to stay up-to-date, we’ve got your back.

With antibiotics, we can all enjoy the summer free from the worry that a stumble on the sidewalk or a minor burn from the grill could turn into a serious illness. So what could be a better centerpiece to the picnic table than meat raised without routine antibiotics?

In this week’s episode of “Last Week Tonight,” host John Oliver called out three main problems hurting consumers when it comes to retirement: First, financial advisers aren’t currently required to work in their clients’ best interest. Second, high fees compound over time. Third, actively managed investment funds aren’t the answer. 

For many, a world without carbon pollution seems like a distant utopia. To some, this even seems unobtainable. The size and scope of the challenge before us can be daunting, yet, there is good news -- a world without carbon pollution is closer than you think.

 | by
Ed Mierzwinski
Senior Director, Federal Consumer Program

This month the CFPB issued its proposed rule prohibiting class action bans in small-print mandatory arbitration clauses; in June it is expected to release its high-cost small dollar lending (payday and auto title loan) proposed rule. Meanwhile, as CFPB's industry opponents hide behind astroturf front groups and Congressional opponents use backdoor attacks, a law professor has released a major report finding that "from its inception [in 2011] through 2015 the agency had a 122-and-0 track record in its publicly announced enforcement actions" and that 93% (over $10.5 billion) of funds recovered for consumers have been for deceptive practices -- "[f]ar from a novel legal theory."

America is facing a $1.4 trillion infrastructure funding crisis. This isn't some distant problem; it's already having a real effect on everyday Americans.

Pull the bike out of the closet, pump up those tires, and dust off the helmet because it's Bike to Work Week!