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Report | WISPIRG Foundation | Financial Reform

Debt Collectors, Debt Complaints

This is the fifth in a series of reports that review complaints to the CFPB nationally and on a state-by-state level. In this report we explore consumer complaints about debt collection, with the aim of uncovering patterns in the problems consumers are experiencing with debt collectors and documenting the role of the CFPB in helping consumers successfully resolve their complaints.

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News Release | WISPIRG Foundation | Financial Reform

Report: Mistaken Identity Tops Debt Collection Complaints

Debt collectors trying to collect debt from the wrong person were the top source of complaints to the Consumer Financial Protection Bureau (CFPB), according to a report released by the WISPIRG Foundation. The report also found that Wisconsin consumers are 40th most likely to file complaints to the CFPB about debt collection, and that debt collection is a top source of complaints.  The report is the final in a series of reports by the WISPIRG Foundation that analyze the complaints in the CFPB’s public Consumer Complaints Database. The CFPB began accepting complaints in July 2011 and now accepts complaints about most financial products and services. Although the CFPB only opened its doors to complaints about debt collection last July, complaints about debt collection have already outpaced those for common products such as credit cards and bank accounts, accounting for the second largest portion of complaints after mortgages between July and January.

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News Release | WISPIRG | Democracy

Citizens United Resolution Introduced in State Senate

State leaders in the Senate have introduced Senate Joint Resolution 68 (SJR68) that, if passed, would bring a statewide referendum to voters in November 2014 asking whether Wisconsin elected leaders should support a constitutional amendment overturning Citizens United.

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Report | WISPIRG | Tax

Closing the Billion Dollar Loophole

Every year, corporations use complicated gimmicks to shift U.S. earnings to subsidiaries in offshore tax havens – countries with minimal or no taxes – in order to reduce their state and federal income tax liability by billions of dollars. Tax haven abusers benefit from America’s markets, public infrastructure, educated workforce, security and rule of law – all supported in one way or another by tax dollars. But they use tax havens to escape supporting these public structures and benefits.

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News Release | WISPIRG Foundation | Tax

Wisconsin could save $27.6 million with simple, proven method to curb offshore tax dodging, new study finds

Wisconsin taxpayers could save $27.6 million from a simple reform to crack down on offshore tax dodging, according to “Closing The Billion-Dollar Loophole: How States Are Reclaiming Revenue Lost to Offshore Tax Havens,” a new report released by WISPIRG. The reform, which has already been proven effective in Montana and passed in Oregon, would require companies to treat profits booked to notorious tax havens as domestic taxable income.  The Legislative Fiscal Bureau estimates that this simple reform would increase state corporate income and franchise tax revenues by $28.8 million.

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News Release | WISPIRG | Financial Reform

SENATE CONFIRMS CFPB DIRECTOR CORDRAY, “GOOD NEWS FOR CONSUMERS AND FIRMS THAT WANT TO PLAY FAIR”

The July 16, 2013 confirmation of Richard Cordray to head the CFPB for a full term is good news for consumers, and for firms that want to play fair in the financial marketplace. The CFPB was created to rein in the reckless Wall Street practices that blew up our economy almost five years ago. Big banks that rely on consumer tricks and schemes to make money have wanted to kill the CFPB ever since, and for good reason: The CFPB has been enforcing critical consumer protection laws, and already forced Capital One to return $140 million in unfair credit card fees to consumers.
 

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News Release | WISPIRG | Health Care

Twenty Top Generic Drugs Delayed By Industry Payoffs

Wisconsinites with cancer, heart disease, epilepsy and other conditions have been forced to pay an average of 10 times more than necessary for at least 20 blockbuster drugs, according to a report released by the Wisconsin Public Interest Research Group (WISPIRG) and Community Catalyst. The report, “Top Twenty Pay-for-Delay Drugs: How Drug Industry Payoffs Delay Generics, Inflate Prices and Hurt Consumers,” reveals that these drugs were subject to an industry practice called “pay for delay,” in which brand name pharmaceutical companies pay off generic drug manufacturers to keep lower cost equivalents off the market, forcing consumers to pay higher brand-name drug prices.
 

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News Release | WISPIRG | Financial Reform

WISCONSINITES TELL SENATOR JOHNSON TO STOP CODDLING PREDATORY LENDERS AND BLOCKING CONSUMER FINANCIAL PROTECTION

The Wisconsin Public Interest Research Group (WISPIRG) and Americans for Financial Reform (AFR) delivered to the office of Sen. Ron Johnson the signatures of 5,180 citizens of Wisconsin, who call on the Senate to confirm Richard Cordray to a full term as director of the Consumer Financial Protection Bureau. Under current Senate rules, 60 votes would be required to confirm the nomination but that favorable outcome for consumers is blocked by Senator Johnson and 42 other Senators who have pledged to oppose Cordray unless the CFPB is first weakened.
 

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News Release | WISPIRG | Higher Ed

Interest Rates for 159,147 Student Loan Borrowers in Wisconsin Set to Double on July 1

Unless Congress acts, on July 1, the interest rate for 159,147 student loan borrowers in Wisconsin will double from 3.4 percent to 6.8 percent. According to an issue brief released today by WISPIRG, the rate increase would hike the cost of Wisconsin students’ loans by $145 million. That translates into a $915 increase in debt per student, per loan.
 

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News Release | WISPIRG Foundation | Transportation

New Report Finds Expensive Highway Projects Might Be Unnecessary

A new report from the WISPIRG Foundation finds that usage of seven recently completed highways has not developed as projected, and questions whether building massive and costly new highways is the best way to spend Wisconsin’s scarce transportation resources. The report, Road Overkill: Wisconsin Spends Big on Questionable Highways Even as Driving Declines, also finds that Wisconsinites are driving less per capita today than we did in 1997, further raising doubts as to whether expensive new highways are the best investments for Wisconsin’s transportation future. 
 

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Report | WISPIRG Foundation | Budget, Tax

The Hidden Cost of Offshore Tax Havens

This report reveals how abuse of tax loopholes hurts taxpayers not just once, but twice, as the state of Wisconsin lost an estimated $814 million in revenue in 2012 due to offshore tax dodging

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Report | WISPIRG Foundation | Transportation

Highway Boom, Budget Bust

This report questions whether the state of Wisconsin might be wasting huge sums of taxpayer money on unnecessary projects by planning to invest heavily in new roads and highway expansions that are out of sync with population and travel behavior trends in the state.  On the one hand, Wisconsin’s population and its volume of driving grow at a relatively slow pace that has slowed over time.

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Report | WISPIRG Foundation, People for the American Way Foundation | Democracy

Outside Spending, Outsized Influence

Super PACs dominated the 2012 Senate election between Tammy Baldwin and Tommy Thompson, providing an avenue for floods of out-of-state money to fill WIsconsin's airwaves with negative ads. Outside groups (not the candidates or party committees) spent almost $32 million and virtually all of that money (99.2%) came from out of state groups. Super PACs allowed big money special interests to flood the Wisconsin elections, blocking regular WI voter out of the political discourse.

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Report | U.S. PIRG Education Fund and Center for Media and Democracy | Democracy

Elections Confidential

Elections Confidential reveals, to the extent possible, the dark side of the post-Citizens United election landscape. Secret donors used "dark money" groups that don't have to disclose their donors, because before Citizens United they weren't allowed to spend on elections in order to hide their identity.

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Report | WISPIRG FOundation and Demos | Democracy

Billion Dollar Democracy

Billion Dollar Democracy is the final edition in our series of reports analyzing the role of money in the 2012 elections. The first presidential election since Citizens United lived up to the hype, with outside groups blowing away previous records for spending. Our discourse got more negative than ever before, with secret organizations allowing anonymous donors to bankroll nasty attack ads. Regular people's voices were drowned out of the process, with big time mega-donors spending millions in their attempt to buy our democracy.

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