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Blog Post | Financial Reform

Financial follies update: Discover Card pays deceptive marketing penalty | Ed Mierzwinski

Discover Card has paid a $14 million civil penalty to the CFPB and FDIC, plus refunded over $200 million to ripped-off consumers, in the latest case involving useless, junk credit insurance and credit monitoring add-ons that consumers didn't buy, but pay for, to credit card bills. Read more for that and other weekend financial follies.

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Media Hit | Tax

Trenton Times: Cut Pork From Federal Farm Bill

The Farm Bill sets our nation’s agricultural and food policy, including a raft of food-related programs such as food assistance and rural development programs. But it also authorizes a set of misguided agricultural subsidy programs that lavish billions of taxpayer dollars on large, profitable agribusinesses.

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Report | NJPIRG Law & Policy Center | Budget, Food, Tax

Apples to Twinkies 2012:

At a time when America is facing an obesity epidemic, crushing debt and a weak economy, billions of taxpayer dollars are subsidizing junk food ingredients.

In this report, we find that in 2011, over $1.28 billion in taxpayer subsidies went to junk food ingredients, bringing the total to a staggering $18.2 billion since 1995. To put that figure in perspective, $18.2 billion is enough to buy 2.9 billion Twinkies every year - 21 for every single American taxpayer.

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News Release | NJPIRG | Budget, Food, Tax

Ag Subsidies Pay for 21 Twinkies per Taxpayer, But Only Half of an Apple Apiece

PARAMUS – Federal subsidies for commodity crops are subsidizing junk food additives like high fructose corn syrup, enough to pay for 21 Twinkies per taxpayer every year, according to NJPIRG’s new report, Apples to Twinkies 2012. Meanwhile, limited subsidies for fresh fruits and vegetables would buy one half of an apple per taxpayer.

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News Release | NJPIRG | Higher Ed

Congress Votes for Lower Student Loan Rates

 Congress listened to students and their families and delivered a bill that stops student loan interest rates from doubling. Students already face unprecedented student loan debt and adding an additional $1,000 more would not only crunch individual borrowers, but would have further weighed down the recovering economy. We applaud Congress for coming together to pass this much-needed legislation.

 

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Priority Action

The overuse of antibiotics on factory farms is threatening these lifesaving medicines. Call on big restaurants to do their part and stop buying meat raised with critical antibiotics.

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