Student Consumer Action Network

Don't Get Ripped Off

After Wall Street practices brought down the entire U.S. and parts of the world economies, Congress finally stepped up in July 2010 and enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act. The centerpiece of this landmark legislation is the creation of the Student PIRG-backed Consumer Financial Protection Bureau (CFPB), a new agency that will act as a counterbalance to the banks and ensure that the credit cards, mortgages, and student loans that consumers use are safe and easy to understand. As of July 21, 2010, when you have a complaint about a bank or credit card company, you can call on the new CFPB, which is already online at www.ConsumerFinance.gov. 

Campaign Updates

Toy Safety Tips

Summary

From toxic chemicals to choking hazards to dangerous magnets, see what dangerous toys to watch out for while you shop.

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Trouble in Toyland

The 2012 Trouble in Toyland report is the 27th annual U.S. Public Interest Research Group survey of toy safety. In this report, U.S. PIRG provides safety guidelines for consumers when purchasing toys for small children and provides examples of toys currently on store shelves that may pose potential safety hazards.

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News Release | Student PIRGs | Consumer Protection, Higher Ed, Student Debt

Banks Skim Millions in Fees from Student Aid Using Debit-Card-Linked Student IDs

Washington, D.C. – Over 9 million students are at risk for increased educational debt, due to bank-affiliated student debit cards that come with high fees, insufficient consumer protections, and few options. Financial institutions now have affinity partnerships with almost 900 campuses nationwide, grafting bank products onto student IDs and other campus cards to become the primary recipient of billions in federal financial aid to distribute to students.

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The Campus Debit Card Trap

Banks and other financial firms are taking advantage of a variety of opportunities to form partnerships with colleges and universities to produce campus student ID cards and to offer student aid disbursements on debit or prepaid cards. In addition to on-campus services, such as student ID functions offered on the card, some cards offer traditional debit card services linked to bank accounts; other cards provide additional reloadable prepaid card functions. The disbursement of financial aid and university refunds is the most significant partnership identified.

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