Updates

We oppose merger between giants Comcast & Time Warner Cable

By | Ed Mierzwinski
Consumer Program Director

We have joined the Consumer Federation of America in a petition to deny the merger of cable/Internet giants Comcast & Time Warner Cable.

 

News Release | Tax

Bank of America settlement loophole creates at least $4 billion burden for taxpayers

        
The Justice Department allows Bank of America to write off most of its legal settlement for mortgage abuses as a tax deduction, shifting at least $4 billion back onto taxpayers.

News Release | Maryland PIRG | Consumer Protection

SHAREHOLDER RESOLUTION ASKS SAFEWAY TO LABEL ITS FOOD FOR GMOs

At its annual meeting this Friday, shareholders and advocacy groups will urge Safeway to label store brand products containing genetically modified organisms (GMOs). Green Century Capital Management filed a shareholder proposal with Safeway, citing unprecedented public demand for GMO labeling as a reason for Safeway to voluntarily provide this information.

The CFPB at Three: A Child Prodigy

By | Ed Mierzwinski
Consumer Program Director

The Consumer Financial Protection Bureau turned just three years old Monday, July 21st, but when you look at its massive and compelling body of work, you must wonder: Are watchdog years like plain old dog years? Is the CFPB now a full-sized, 21-year-old adult?

CFPB Faces A "Death of a Thousand Cuts" Today

By | Ed Mierzwinski
Consumer Program Director
Today, at 10 AM, the U.S. House Financial Services Committee considers a package of over a dozen anti-consumer, anti-investor, anti-taxpayer bills. U.S. PIRG and other members of Americans for Financial Reform have urged a no vote on all the bills targeted at weakening the Consumer Financial Protection Bureau (CFPB).
Report | Maryland PIRG Foundation and Citizens for Tax Justice | Tax

Offshore Shell Games

Many large U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens – countries with minimal or no taxes. By booking profits to subsidiaries registered in tax havens, multinational corporations are able to avoid an estimated $90 billion in federal income taxes each year. These subsidiaries are often shell companies with few, if any employees, and which engage in little to no real business activity. 

News Release | Maryland PIRG Foundation and Citizens for Tax Justice | Tax

Study: 70% of Fortune 500 Companies Used Tax Havens in 2013

Tax loopholes encouraged more than 70 percent of Fortune 500 companies – including Stanley Black & Decker in Maryland – to maintain subsidiaries in offshore tax havens as of 2013, according to “Offshore Shell Games,” released today by the Maryland PIRG Foundation and Citizens for Tax Justice (CTJ). Collectively, the companies reported booking nearly $2 trillion offshore for tax purposes, with just 30 companies accounting for 62 percent of the total, or $1.2 trillion.

News Release | Consumer Protection

Credit CARD Act Saves Consumers $12.6 Billion Annually

On May 22, the fifth anniversary of the Credit CARD Act of 2009, consumer advocates applaud the Act’s success in saving Americans billions of dollars in predatory and excessive fees. By one estimate, the CARD Act has saved consumers $12.6 billion annually in lower fees and interest charges; a recent report from the Consumer Financial Protection Bureau identifies nearly $4 billion annual savings in fees alone.

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