Consumer Tips

PROTECTING YOURSELF IN A COMPLEX MARKETPLACE — Our researchers and attorneys provide key tips for how you can shop for the best bank, get the best car loan, protect against identity theft, and more.

The Best Ways to Protect Yourself

Being a consumer in today’s marketplace can be tough. Financial decisions in particular often require navigating a torrent of misleading advertisements and pages of jargon-filled small print. Even the simplest choices — everyday financial decisions like opening a credit card, creating a bank account, applying for a loan, or sorting through cell phone contracts — can take time, energy and knowledge that too many of us don’t have.
   
Many financial institutions don’t set out to make it easier for their customers:

  • 1 out of every 20 Americans — millions of consumers — have errors on their credit reports significant enough to raise their rate on loans.
  • Financing cars through dealerships costs consumers more than $25.8 billion in additional hidden interest.
  • From 2005 to 2010, identity theft rose by 33%. In 2012, an estimated 12.6 million Americans became victims. That is 1 victim every 3 seconds. 
  • Banks made around $11 billion in overdraft fees in 2015, fees they pitched as “overdraft protection” but actually cost consumers more.

Despite these practices, there are ways to protect yourself. We want to help. This is why we’ve created the following tip sheets based on common complaints to the Consumer Financial Protection Bureau and the Federal Trade Commission. Read on. Protect yourself from becoming a statistic.

File a complaint if you have a problem

For all sorts of everyday consumer problems, there are government resources that can help. Federal agencies like the Consumer Financial Protection Bureau and Consumer Product Safety Commission exist to protect us from unfair or dangerous products. Submitting complaints to government agencies can help resolve your problem AND it helps these agencies hold companies accountable for unfair practices. For more information, consult our tip sheet on the subject, which includes information on how to contact the CFPB with financial complaints, the CPSC with toy and other product safety complaints, the NHTSA with car safety complaints, and DOT with air travel complaints: How to File a Consumer Complaint and Use Government Databases.

Keeping Track of Your Money:

Credit Reports, Credit Scores, and Identity Theft:

Common Consumer Problems:

Please note that these tips are not intended as, nor should they be construed as, legal advice. If you need legal advice dealing with a consumer problem, consult an attorney.

Issue updates

News Release | CoPIRG Foundation | Consumer Protection

31st Annual Survey Finds Recalled Toys in Online Stores

Some toys that have been recalled for lead, powerful magnets, or other hazards can still be available for sale in online stores, according to CoPIRG Foundation’s 31st annual Trouble in Toyland report. The survey of potentially hazardous toys found that consumers should be wary when shopping this holiday season.

The report lists toys recalled by the Consumer Product Safety Commission (CPSC) from January 2015 to October 2016 with the message to consumers that these recalled toys may still be in homes. For large items such as cars, when they get recalled, owners will usually be contacted immediately through VIN numbers. However, that’s not the case with toy recalls.

> Keep Reading
Report | CoPIRG Foundation | Consumer Protection

Trouble in Toyland

CoPIRG Foundation staff examined toys recalled by the CPSC between January 2015 and October 2016 and looked at whether they appeared to still be available for sale online. Since January 2015, the CPSC, in cooperation with manufacturers and distributors, has announced over 40 recalls of toys and children’s products totaling over 35 million units. We found that over a dozen recalled toys appeared to be available for sale. Also, parents should watch out for recalled toys that could still be in their homes.

> Keep Reading
News Release | CoPIRG Foundation | Consumer Protection

Analysis of Payday Complaints Reveals Need for Stronger Federal Protections

Consumer complaints about payday loans to the Consumer Financial Protection Bureau (CFPB) show a critical need for strengthening the agency’s proposed rule to rein in payday loans and other high-cost lending, according to a report released today by the CoPIRG Foundation.

> Keep Reading
Report | CoPIRG Foundation | Consumer Protection

Predatory Loans & Predatory Loan Complaints

This is the seventh in a series of reports that review complaints to the Consumer Financial Protection Bureau. In this report, we explore consumer complaints about predatory loans, categorized in the database as payday loans, installment loans, and auto title loans.

> Keep Reading
Blog Post | Consumer Protection

Consumers Count: Five years of the CFPB standing up for consumers | Kathryn Lee

This week, the Consumer Financial Protection Bureau turns five years old! As part of our efforts to tell more people about the CFPB, we're cross-posting this video blog and comments written by Zixta Q. Martinez of the CFPB (check out the infographic at the end, too!).

> Keep Reading

Pages

News Release | CoPIRG Foundation | Consumer Protection, Health Care

CoPIRG Foundation Helps Colorado Students Navigate New Health Insurance Landscape

With the main parts of the Affordable Care Act now going into effect, the CoPIRG Foundation has launched a statewide education campaign reaching out to students with facts about the changes, and tips to help them find the right coverage for themselves. 

> Keep Reading
News Release | CoPIRG Foundation | Consumer Protection

Survey Finds Toxic or Dangerous Toys on Store Shelves

Dangerous or toxic toys can still be found on America’s store shelves, according to a The Colorado Public Interest Research Group (CoPIRG’s) 26th annual Trouble in Toyland report.

> Keep Reading

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Blog Post

In response to a tidal wave of unfair marketplace practices, the CFPB asked the public to submit comments on the impact of junk fees on their lives. Some 2,500 comments later, consumers have described the pain points caused by unfair junk fees.

Cover graphic courtesy Student Borrower Protection Center, used by permission

News Release | CoPIRG Foundation and U.S. PIRG Education Fund

When the COVID-19 pandemic turned life upside down in early 2020 and commercial flights came to a near-halt, the U.S. government gave the airline industry $50 billion to save jobs and keep the industry afloat. Since then, despite surviving because of their customers’ tax dollars, the airlines repeatedly have canceled and delayed flights, denied refunds and failed at customer service, according to complaints filed with the U.S. Department of Transportation (DOT). Not First Class: Flyer complaints soar as airlines cancel flights, deny refunds, ruin plans, a new report released Thursday by CoPIRG Foundation analyzes more than 200,000 DOT complaints going back to 2016. 

Report | CoPIRG Foundation and U.S. PIRG Education Fund

We looked at the data around more than 200,000 complaints against the airline industry and the data around flight departures and arrivals starting in January 2016. This analysis should help consumers to take as much as possible into account when deciding where to fly and through which airline.

Blog Post

Even with the knowledge I’ve gained working as a consumer advocate for several years, getting my finances in order has been a work in progress. 

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