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Financial Privacy & Security

 

Loose restrictions and a lack of transparency and oversight have allowed for financial institutions to engage in extremely risky practices including the buying and packaging of sub-prime mortgage-backed securities.

Americans can't stand by as risks are taken by those in the financial sector, and then rescued by "bailouts" using taxpayers' hard-earned dollars.



Current Campaigns

Reining In Wall Street

For too long, the rules of Wall Street have been written by the bankers themselves.

This year, that has to change. Read more.

Challenging the Bailout

Since its inception in October of 2008, the Troubled Asset Relief Program (TARP) has expanded and evolved into an alphabet soup of programs and is now known as the Financial Stability Plan.

Most people just think of these programs as "the bailout" of the banks, insurance companies and the auto industries.  

PennPIRG continues to challenge Congress and the Department of Treasury to be more transparent about the bailout programs and to better protect the taxpayers who are paying for them. Read more.

Predatory Lending

Payday lenders, rent-to-own stores, tax refund anticipation loan (RAL) firms, auto title pawn stores and others have built an industry by kicking low-income, working-class and military families when they’re down. Some states have reined in these predatory lenders, but not all—and certainly not Congress. PennPIRG fights to regulate the industry’s misleading promises and triple-digit interest rates, and to educate consumers on how to protect themselves. Read more.

Stop Unfair Bank Fees

ATM fees are only one of 250 types of fees banks are now charging customers. Virtually every bank service, from using a deposit slip to talking with a teller, is being surcharged. Read more.

Identity Theft Protection

In an increasingly high-tech marketplace, we trust businesses with more of our personal information than ever before. Yet many companies aren’t as careful as we think—concealing security breaches or questionable sales of information that make consumers vulnerable to identity theft. Read more.

Overview

Conducting the day-to-day business of our lives shouldn’t come at the cost of our financial security. But too often, the big banks, insurance and investment companies and other firms take advantage of unsuspecting consumers or manipulate the system. PennPIRG fights to make the financial marketplace work fairly, to protect vulnerable Americans from predatory lending terms, to equip consumers with the knowledge to protect their finances, and to expose business practices that make us vulnerable to identity theft, fraud and abusive credit rates.