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Blog Post | Consumer Protection

As CFPB Advances Consumer Protection, Attacks on CFPB Escalate | Ed Mierzwinski

This week, the CFPB took a major step toward establishing a regulation restricting the use of forced arbitration clauses in consumer financial contracts, which give companies what the CFPB's director said was a "free pass from being held accountable by their customers." Meanwhile, on Capitol Hill, powerful bank interests escalated their campaign to defund and defang the bureau, because it works for consumers, not them.

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Media Hit | Tax

These eight Massachusetts companies have used offshore tax havens

 Tax havens are legal, but proponents of tax reform say eight companies headquartered in Massachusetts are using them and costing the state millions of dollars in revenue.

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News Release | MASSPIRG Education Fund | Tax

Study: 72% of Fortune 500 Companies Used Tax Havens in 2014

 

Tax loopholes encouraged more than 72 percent of Fortune 500 companies – including 8 companies head quartered in Massachusetts – to maintain subsidiaries in offshore tax havens as of 2014, according to “Offshore Shell Games,” released today by MASSPIRG Education Fund, and Citizens for Tax Justice. Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 65 percent of the total, or $1.35 trillion.

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Report | MASSPIRG Education Fund | Tax

Biggest Tax Dodgers

 U.S.-based multinational corporations are allowed to play by a different set of rules than small and domestic businesses or individuals when it comes to the tax code. Rather than paying their full share, many multinational corporations use accounting tricks to pretend for tax purposes that a substantial portion of their profits are generated in offshore tax havens, countries with minimal or no taxes where a company’s presence may be as little as a mailbox. Multinational corporations’ use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year.

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Report | MASSPIRG Education Fund | Tax

Offshore Shell Games 2015

U.S.-based multinational corporations are allowed to play by a different set of rules than small and domestic businesses or individuals when it comes to the tax code. Rather than paying their full share, many multinational corporations use accounting tricks to pretend for tax purposes that a substantial portion of their profits are generated in offshore tax havens, countries with minimal or no taxes where a company’s presence may be as little as a mailbox. Multinational corporations’ use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year.

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News Release | MASSPIRG Education Fund and Frontier Group | Transportation

Report Shows Boston Driving Less

Report "Transportation In Transition:  A Look at Changing Travel Patterns in America's Biggest Cities" shows Boston driving less, reducing car commuting and making gains in biking.

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Hazard toys highlighted in MASSPIRG report

Unsafe toys displayed at release of 28th anual toy safety report, "Trouble in Toyland."

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Consumer group draws attention to dangerous toys

MASSPIRG Education Fund displays dangerous toys while releasing 28th anual report "Trouble in Toyland". 

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News Release | MASSPIRG EDUCATION FUND | Consumer Protection

Survey Finds Dangerous Toys on Store Shelves

Dangerous or toxic toys can still be found on America's store shelves. The 28th annual Trouble in Toyland report shows that despite recent progress, consumers must still be wary when shopping this holiday season. 

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News Release | MASSPIRG EDUCATION FUND | Consumer Protection

In Massachusetts Experian Gets Most Complaints

New report found that the most complained-about credit reporting agency in Massachusetts is Experian. 

 

The report used data collected by the Consumer Financial Protection Bureau’s public Consumer Complaints Database, which was created to help consumers resolve problems with their credit reports. The report compared complaints against the three nationwide credit reporting agencies (Equifax, Experian, and TransUnion), commonly referred to as credit bureaus, who were together responsible for 96% of all complaints about credit reporting.

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Blog Post | Consumer Protection

Testimony in Opposition to the "assigned risk plan" and in favor of permanently rescinding the adopted regulation | Deirdre Cummings

In addition, the Governor’s “study group” on auto insurance which issued a report on March 15, 2007, of which I was a participant, recommended that the assigned risk plan not be adopted until further review and evaluation of the new CAR rules aimed at improving the system. Specifically, the commission recommended, “ the Commissioner should delay implementing any assigned risk plan until able to meaningfully evaluate the results of the 2006 redistribution of exclusive (producers) agents and subsequent revisions to the Commonwealth Automobile Reinsurers rules.”

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Blog Post | Financial Reform

Testimony in favor of Combined Reporting Legislation | Phineas Baxandall

In-state businesses are playing on an uneven field, competing against multi-state companies that use high-priced, sophisticated accountants and complex transactions with subsidiaries to avoid paying Massachusetts taxes. While currently legal, some multi-state businesses can shift their Massachusetts profits to out-of-state subsidiaries to avoid paying taxes here; while businesses located only in Massachusetts cannot take advantage of these loopholes or other tax shell games.

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Blog Post

Testiomony Before the Coprorate Tax Commsiion in Favor of Closing Corporate Tax Loopholes | Phineas Baxandall

Businesses should thrive based on their efficiency and innovation, not their opportunities for ‘creative’ tax accounting and tax avoidance.

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Blog Post | Consumer Protection

Testimony in Favor of Fixed and Established Auto-Insurance Rates | Deirdre Cummings

MASSPIRG strongly supports the continued fixed and established rating process for 2008 because at this point it will better protect Massachusetts drivers than a “deregulated” or competitive process.

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Blog Post | Consumer Protection

Testimony in favor of the Cell Phone Users' Bill of Rights (HB 3389 and SB 1982) and An Act Relative to Wireless Service (SB 1945) | Deirdre Cummings

The rising swell of customer dissatisfaction with the cell phone industry demonstrates a need for basic, common-sense consumer protections. While the FCC has taken a "hands-off" approach to wireless regulation, states, including Massachusetts, can play an important role in establishing a set of basic service quality and customer service standards.

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