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Blog Post | Financial Reform

Federal Reserve Questions Administration, Congressional Rollbacks of Wall Street Reform That Threaten CFPB | Ed Mierzwinski

Recently released minutes of the July meeting of the Federal Open Market Committee, comprised of Fed governors and regional Fed Bank presidents, show its concern that Wall Street reform rollbacks proposed by Congress, Treasury Department and the White House could allow "a reemergence of the types of risky practices that contributed to the crisis." Meanwhile, Fed vice-chair Stanley Fisher repeated his warnings that risks from the proposed rollbacks were "mind-boggling."

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Blog Post | Financial Reform

Well, Well, Wells Fargo! Poster Child for Defending CFPB, Dodd-Frank. | Ed Mierzwinski

As the big Wall Street banks, payday lenders and other opponents of consumer protection intensify pressure on Congress to weaken financial reform and gut the CFPB like a fish, numerous reports of further Wells Fargo malfeasance serve as a warning that the Consumer Financial Protection Bureau and the rest of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act are needed more than ever.

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Blog Post | Financial Reform

CFPB Finds So-Called Overdraft Protection Costs Some $450/Year | Ed Mierzwinski

This week, the Consumer Financial Protection Bureau (CFPB) rolled out draft "Know Before You Owe" disclosures for banks marketing so-called "Standard Overdraft Protection," a controversial product that requires consumers to "opt-in" for the "privilege" of overdrafting debit and ATM transactions for a so-called convenience fee averaging $34. It also  released a study that finds that at-risk consumers who opt-in pay $450/year more in fees than other at-risk consumers.

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News Release | U.S. PIRG | Public Health, Health Care

Our Statement on the Failure of the US Senate Health Care Bill

American consumers can breathe a sigh of relief today. The legislation that was narrowly defeated in the US Senate last night threatened to spark chaos in health insurance markets, raise costs, degrade quality of care, weaken protections for people with pre-existing conditions, and cause millions of Americans to lose health coverage.

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Blog Post | Financial Reform

It Makes No Sense to Eliminate Successful CFPB, Weaken Wall Street Reforms | Ed Mierzwinski

The successful CFPB turns 6 years old tomorrow, July 21. It's already returned nearly $12 Billion to over 29 million consumers harmed by unfair financial practices. Here is a birthday look at the Consumer Bureau's body of work so far and why it makes no sense for Congress to roll it back at the request of Wall Street lobbyists and other special interests.

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News Release | OSPIRG Foundation | Democracy

New Study: Small Donor Matching Program Would Incentivize Shift in 2016 Presidential Fundraising Strategies

Candidates in the 2016 presidential race would see a dramatic shift in fundraising success under a proposed small donor public financing system, according to a study released on Wednesday by OSPIRG Foundation.

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News Release | OSPIRG | Public Health

Subway to Eliminate Antibiotics from Meat

The country’s largest restaurant chain, Subway, announced this morning that they plan to eliminate  antibiotic use in all of its meat supplies, according to the Wall Street Journal and ABC News. According to news reports, the chain will shift its entire chicken supply by the end of 2016; transition its entire turkey supply within two to three years; and transition its pork and beef within six years after the turkey shift is completed or by 2025. What follows is a statement from OSPIRG executive director Dave Rosenfeld:

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News Release | OSPIRG | Transportation

OSPIRG Endorses Ballot Measure 24-388

The public interest group OSPIRG (Oregon State Public Interest Research Group) urged local voters in the Cherriots transit district to approve a measure to restore weekend and evening bus service. 

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Report | OSPIRG | Tax

Picking Up the Tab

When corporations and wealthy individuals hide their billions of dollars in offshore tax havens, average Oregonians pick up the tab.  Oregon taxpayers and small businesses end up paying for these lost billions through higher taxes, cuts in public services or increasing the national debt—the equivalent of $309 per Oregon taxpayer in 2011, or $931 million for all of Oregon.

 

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Report | OSPIRG Foundation | Transportation

Transportation and the New Generation

Federal and local governments have historically made massive investments in new highway capacity on the assumption that driving will continue to increase at a rapid and steady pace. The changing transportation preferences of young people—and Americans overall—throw those assumptions into doubt. The time has come for transportation policy to reflect the needs and desires of today’s Americans—not the worn-out conventional wisdom from days gone by.

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Report | OSPIRG Foundation | Health Care

Comments on PacificSource's Small Business Rate Hike Proposal

PacificSource is proposing to increase rates 5.56% on average, affecting 35,224 Oregonians enrolled in small business plans. If approved, this rate increase will have wide ranging impacts. Most enrollees will see increases of between 6% and 10%. Some will see increases of up to 11.2%. Over 27% will see increases of between 8% and 14%.

 

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Report | OSPIRG Foundation | Budget

Following the Money 2012

This report is OSPIRG Foundation’s third annual ranking of states’ progress toward “Transparency 2.0” – a new standard of comprehensive, one-stop, one-click budget accountability and accessibility. The past year has seen continued progress, with new states providing online access to government spending information and several states pioneering new tools to further expand citizens’ access to spending information and engagement with government.

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Report | OSPIRG Foundation | Budget, Tax

Revealing Tax Subsidies

Last year, Oregon took an important first step towards showing the public whether the hundreds of millions of tax dollars spent on corporate economic development tax subsidies are worth the money. House Bill 2825 went into effect at the close of 2011, requiring disclosure of twelve corporate tax subsidy programs estimated to cost taxpayers nearly $530 million in the 2011-2013 biennium.

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Blog Post | Health Care

Tax Season and Health Care: What You Need to Know | Jesse Ellis O'Brien

Tax season is here, and many Oregonians may have questions about new tax forms and provisions, including health premium tax credits and the new requirement to purchase health insurance. Here’s what you need to know.

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Blog Post | Financial Reform

House Floor Vote on Budget Delayed over Special Interest "Riders" From Wall Street, Other Powerful Interests | Ed Mierzwinski

UPDATED: Opposition to a controversial provision authored by Citibank forced House leaders to delay consideration of the "CRomnibus" appropriations package just hours before funding for the federal government expired at midnight Thursday. Eventually the bill passed narrowly with the Wall Street provision intact. Action now shifts to the Senate, which has a 48-hour window to pass the bill, but any one Senator can block it under Senate rules. The provision would again allow Wall Street banks to place risky bets with taxpayer-backed funds, and require taxpayers to bail them out if the bets fail, repealing a key protection added in the 2010 Wall Street reform law. 

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Blog Post | Health Care

Open Enrollment: Here’s What You Need to Know | Jesse Ellis O'Brien

The countdown is on for enrolling in health insurance for 2015. With all of the changes coming to health care in Oregon, it’s more important than ever to get the facts about what’s happening and how you and your family can get coverage that works for you. Here’s our guide to Oregon’s open enrollment period, which starts November 15.

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Blog Post | Health Care

Health Insurance Rates for 2015 Announced Today | Jesse Ellis O'Brien

Today, the Oregon Insurance Division—the state’s insurance regulator—announced its decisions on health insurers’ rate proposals for next year. These decisions come after OSPIRG Foundation’s in-depth analysis raised numerous questions about some of the larger proposed rate increases.

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Blog Post | Health Care

The Whole Shebang at a Glance: Proposed Health Insurance Rates for 2015 | Jesse Ellis O'Brien

Here’s the skinny on OSPIRG Foundation’s new analysis of 2015 rates proposed by four Oregon insurers—Moda, PacificSource, United and Health Net. There’s some good news, some concerning news, and some very concerning news, but the best news of all is that thanks to Oregon’s health insurance rate review process, the insurers don’t get the last word.

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