Message to Congress: The CFPB Has Our Back!
April 11, 2016 – 4:21 pm | Comments Off on Message to Congress: The CFPB Has Our Back!

What made the latest congressional hearings on the Consumer Financial Protection Bureau different from other hearings? A delegation of consumer advocates from around the country wearing lime-green t-shirts that said “Stand Up for the CFPB” and “The CFPB Has My Back.” They were there to remind lawmakers that the great majority of Americans, across party lines, don’t just like the idea of such an agency; they also support the major steps it has taken to bring a sense of fair play to the financial marketplace.

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AFR Statement: Stop Senate Rush to Roll Back Protection from Forced Arbitration
September 25, 2017 – 5:32 pm

This rush toward a vote in the Senate is a cynical attempt to roll back an important consumer protection before anyone gets straight answers from Equifax and Wells Fargo about the damage they’ve done to the financial lives of millions of Americans.

AFR in the News: Ex-federal officials form group to combat rollback of consumer protections in higher ed (Washington Post)
September 22, 2017 – 8:14 am

“A cadre of attorneys and policy advisers from the Obama administration is teaming up to do what they say Education Secretary Betsy DeVos seems incapable of doing: protecting students. ‘Rather than collaborating to get more relief to students who’ve fallen prey to industry scams, and to prevent future abuses, DeVos has chosen to make oversight more difficult and accountability harder to come by,’ said Alexis Goldstein, senior policy analyst at the progressive Americans for Financial Reform.”

TOWS Joint Statement: Groups demand Wall Street pay its fair share in taxes
September 19, 2017 – 5:01 pm

Washington DC – On Tuesday, groups with the Take on Wall Street campaign made their voices heard outside a Senate Finance Committee hearing, opposing tax cuts for millionaires, billionaires, and wealthy corporations, and demanding that …

AFR in the News: Gary Cohn is Giving Goldman Sachs Everything It Ever Wanted (The Intercept)
September 18, 2017 – 3:32 pm

“No other piece of Dodd-Frank “mattered to Goldman quite like the Volcker Rule, which would protect banks’ solvency by limiting their freedom to make speculative trades with their own money. Unless Goldman could initiate what [AFR Policy Director Marcus] Stanley called the ‘complexity two-step’ — win a carve-out so a new rule wouldn’t interfere with legitimate business and then use that carve-out to render a rule toothless — Volcker would slam the door shut on the entire direction in which Blankfein and Cohn had taken Goldman.”

Joint Statement: House Approves Special Protections for Payday Lenders
September 15, 2017 – 2:27 pm

“The vote [came] during the debate over the Financial Services and General Government bill, which funds some basic functions of the federal government, including the Treasury Department… Rep. Keith Ellison (D-Minn.) introduced an amendment to take this language out of the appropriations bill and continue to allow the CFPB to regulate payday lenders as it regulates all financial services businesses. The amendment failed with four Republicans joining Ellison to protect borrowers and three Democrats choosing to side with payday predators.”

AFR Statement: Delay of Fiduciary A Ripoff of Retirement Savers, Gift to Wall Street’s Financial Advisers
September 15, 2017 – 10:39 am

Retirement savers need the fiduciary rule, fully enforced, to help ensure they can enjoy a dignified retirement. See the story of Steve Wingate to learn what happens without this common-sense protection.

AFR Comment: Don’t Delay the Fiduciary Rule, Don’t Try to Kill It Either
September 15, 2017 – 10:33 am

The Department of Labor should simply let the fiduciary rule, as written, take full effect. The effort to delay is nothing but an effort to buy time for creating a rationale to roll back the rule, and an abuse of a regulatory process set down in law. Enough.

SOR Statement: Don’t Delay the Fiduciary Rule, Protect American Retirement Savers
September 15, 2017 – 10:31 am

Members of the Save Our Retirement coalition speak out forcefully against the Department of Labor’s proposed delay of the fiduciary rule, a common-sense protection that would ensure savers get the best advice possible.