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


Unfixed Recalled GM Cars Still On Dealer Lots In Denver

“When there’s been a problem clearly identified that is linked to injuries and fatalities, they need to get those cars off the road immediately, and it doesn’t look like that’s happening fast enough,” Danny Katz with the Colorado Public Interest Research Group (CoPIRG) said.

> Keep Reading

GM to pay maximum fine of $35 million over delayed recall

General Motors agreed to pay a $35 million fine to settle a federal probe into the 10-year delay of its ignition switch recall, federal safety regulators announced Friday.

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Congress to seeks answers about why GM, gov't didn't act sooner to recall cars with defect

New General Motors CEO Mary Barra has been cooperative with members of Congress investigating why the company did not act sooner to address a potentially deadly defect in some of its small cars, U.S. Rep. Diana DeGette said.

> Keep Reading

Net neutrality: How it might affect consumers, startups and Level 3

CBS is broadcasting Sunday's Denver Broncos playoff game and also streaming it live over the Internet for viewers without access to a TV. Imagine a scenario where CenturyLink broadband subscribers receive an uninterrupted stream of the game on their Web browser while customers of Comcast, owner of rival network NBC, are intentionally stuck with choppy Internet footage.

> Keep Reading

Most complained-about credit card companies

Thousands of Americans are lodging complaints with the government’s financial watchdog about their credit cards, and some issuers are being griped about a lot more than others.

Of the more than 25,000 credit card complaints the Consumer Financial Protection Bureau has processed between the November 2011 launch of its complaint database and last September, Capital One received the biggest share, according to new analysis from the U.S. Public Interest Research Group.

> Keep Reading


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