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 | U.S. PIRG Education Fund | Consumer Protection

Fisher-Price recalls nearly 5 million potentially deadly Rock n’Play sleepers

Fisher-Price recalled 4.7 million Rock n’Play baby sleepers on Friday. U.S. PIRG Consumer Watchdog Adam Garber issued a response: "“While we’re pleased that Fisher-Price is finally recalling these dangerous sleepers, 30 deaths in 10 years is 30 deaths too many and 10 years too late."

> Keep Reading
News Release | Consumer Protection

Statement on Wells Fargo’s response to “Debit Cards on Campus” report

Read U.S. PIRG's statement on Wells Fargo eliminating some fees for student on debit cards.

> Keep Reading
News Release | U.S. PIRG Education Fund | Public Health, Consumer Protection

Tyson chicken strips recalled, may contain pieces of metal

Just seven weeks after Tyson Foods recalled chicken nuggets that could contain rubber, the poultry giant is recalling chicken strips that might contain metal. 

> Keep Reading
News Release | U.S. PIRG Education Fund | Consumer Protection

Boeing Max planes have ‘optional’ safety mechanisms

Newly-revealed details by the New York Times about of the crash of two Boeing 737 Max 8 planes may stun even the most hardened observer. The planes lacked a safety feature that may have warned pilots about problems because it was not required and Boeing charged airlines extra to include it. Adam Garber, U.S. PIRG Education Fund Consumer Watchdog issued the following statement.

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News Release | CoPIRG Foundation and the Financial Equity Coalition | Consumer Protection

Prohibition on triple-digit payday loan rates goes into effect Feb 1st

Tomorrow, Colorado joins fifteen other states and the District of Columbia in stopping predatory payday lenders from charging Coloradans triple-digit rates to borrow small loans of $500 or less. Starting February 1st, payday loan companies can no longer charge interest and fees that add up to over 200% APR but must abide by Colorado’s usury cap of 36%. The change comes after 77% of voters passed Proposition 111 in November, ending an era of predatory payday lending practices that targeted low-income borrowers, veterans, and communities of color. Coloradans will save an expected $50 million per year in payday loan fees.

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News Release | U.S. PIRG Education Fund | Consumer Protection

Target Removes Lead-Laden Fidget Spinner From Website, But Still Available For Sale In-Store

Since late yesterday afternoon, Target appears to have made the 33,000 ppm-lead containing Fidget Wild Premium Spinner Brass unavailable for sale on its website. U.S. PIRG Education Fund staff went to a Target store today and found the Fidget Wild Premium Spinner Brass was still available for sale in-store, despite the website saying it was unavailable there. Also yesterday, one of the CPSC’s Commissioners, Elliot F. Kaye, re-stated his opposition to the CPSC’s guidance and the acting chairman's statement when he tweeted, “Seems obvious fidget spinners are toys and should comply with all applicable federal safety standards.”

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News Release | Consumer Protection

U.S. PIRG CONSUMER ADVOCATE MIKE LITT TESTIFIES AT CONGRESSIONAL HEARING ON EQUIFAX

Our Consumer Advocate, Mike Litt, was invited by Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, to testify this week at a Congressional hearing on the Equifax data breach. This was a continuation of the committee's previously held hearing on October 5th entitled "Examining the Equifax Data Breach."

> Keep Reading
News Release | CoPIRG Foundation and Frontier Group | Consumer Protection

Colorado Ranks Ninth for Most Consumer Complaints Per Capita by Older Americans

Colorado ranked 9th for most complaints per capita by older Americans according to an analysis of the Consumer Financial Protection Bureau’s (CFPB) consumer complaint database. Mortgages were the leading source of 72,000 national complaints to the CFPB and the leading source of the over 1,300 complaints from older Coloradans. Complaints about credit reports, debt collection, and credit cards rounded out the top four according to the analysis from the CoPIRG Foundation and the Frontier Group. 

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Statement on Walmart’s Decision to Strengthen Chemical Footprint Policy

CoPIRG Foundation applauds retail giant Walmart for updating its sustainability policy to restrict toxic chemicals in 90,000 products including cosmetics and skincare items, infant products, and household cleaners.

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Agency votes to begin rulemaking process to protect American children, firefighters from hazardous flame retardant chemicals

Today, the U.S. Consumer Product Safety Commission (CPSC) took three critical steps toward protecting consumers and firefighters from the hazards posed by a class of flame retardant chemicals (known as “organohalogens”). The CPSC directed the Commission’s staff to begin the rulemaking process to ban the sale of four categories of consumer products if they contain these chemicals. Once again, the CPSC has made an important action for consumers.

> 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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