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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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Pass GMO labeling bill in state

Big Ag spending undermines consumer-right-to-know.

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Media Hit | Budget, Tax

JPMorgan should get no tax deduction in settlement deal

Taxpayers should not pay for corporate wrong doing.

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News Release | MASSPIRG EDUCATION FUND | Consumer Protection

New Report Identifies Most Troublesome Private Lenders to Students

A new report analyzing complaints about lenders of private student loans.

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Media Hit | Transportation

Smart Phones: Making Buses Cool Again?

Article highlights our report, "A New Way to Go: The Apps, Maps, and New Technologies that are Giving More Americans Freedom to Drive Less."

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Blog Post | Consumer Protection

Testimony In opposition to HB 1023 | Deirdre Cummings

HB 1023, I believe, is an attempt to bring more insurance companies into the state, unfortunately at a cost that is too high – the elimination of critical consumer protections. Specifically it will: 1. cause higher premiums in general, 2. allow insurers to give much less weight to driving record than currently required and to use discriminatory rating factors,  and 3. cause premiums to increase even for the best drivers in many urban communities.

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Blog Post | Consumer Protection

Testimony In Support of An Act Establishing the Massachusetts Prescription Fair Pricing Program | Deirdre Cummings

Current estimates put the Commonwealth’s spending at $1.2 billion per year on prescription drugs. The results of these growing prescription drug costs are more people without access to necessary drugs, higher premiums for those fortunate enough to have prescription drug coverage, and an increasing burden on the state and other programs to assist those who cannot pay for drugs themselves

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Blog Post | Consumer Protection

MASSPIRG Urges Senate To Oppose Anti-Consumer Bill | Deirdre Cummings

This bill would turn back the clock on consumer protection over a quarter of a century by once again requiring an out-of-pocket loss of money in order for a consumer to collect damages under the state Consumer Protection Act, Chapter 93A. It would also eliminate consumers’ rights to join together to fight unfair practices.

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Blog Post | Consumer Protection

MASSPIRG urges the Division of Insurance to reduce annual auto insurance premiums | Deirdre Cummings

The Division of Insurance should use their authority and resources to Identify and adopt a comprehensive plan to reduce the state's underlying costs, including our high accident rate. The reforms to reduce the state's costs and accident rate must involve state and local government, the insurance industry, police, drivers and insurance regulators.

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Blog Post | Consumer Protection

Testimony in Opposition to bills which would weaken or repeal the Food Store Item Pricing Law | Deirdre Cummings

There’s no question that Massachusetts’s heavily regulated auto insurance system has problems. But our strict regulations are not the cause of its worst feature, the ultra-high premiums drivers pay. The blame for that belongs to Massachusetts’s ultra-high accident rate. Massachusetts has the dubious distinction of having the highest accident rate in the country by far – an astounding 40% higher than the state with the second-highest rate, Rhode Island. Even improving our worst-in-the-nation accident rate to second worst could drop our premiums by nearly 30%, or about $300 on average per car, producing over $1 billion in statewide savings.

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We're calling on big restaurant chains to stop the overuse of antibiotics on factory farms. Tell KFC to stop serving meat raised on routine antibiotics.

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