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: FHFA praised for adding language preference question to mortgage form
October 20, 2017 – 3:15 pm

“FHFA made a great decision,” said Amanda Jackson, AFR’s Organizing and Outreach Manager. “Knowing homeowners’ preferred language will help Fannie, Freddie, and mortgage servicers better communicate with their customers and avoid unnecessary – and sometimes devastating – confusion.”

AFR in the News: Ohio Must Reform Payday Lending (Canton Record-Courier)
October 17, 2017 – 9:49 am

“Oversight of payday loans is particularly lax in Ohio… State voters approved reforms in 2008, but the industry found ways around the restrictions on interest rates and other measures designed to protect borrowers… ‘Payday and car title lenders profit from repeatedly dragging hard-pressed people deeper and deeper into debt, and taking advantage of families when they are financially vulnerable,’ Lisa Donner, with Americans for Financial Reform, told the Associated Press. ‘Curbing the ability to push loans that borrowers clearly cannot repay is a key protection.'”

AFR Report: The Same Old Song – Wall Street’s repeatedly discredited but endlessly repeated arguments against common-sense financial regulation
October 13, 2017 – 3:42 pm

A look back at the financial lobby’s robotic opposition to one proposed reform after another, and how Wall Street’s claims have squared with real-world events. This new AFR report homes in on three pre-financial-crisis case studies, involving credit cards, mortgages, and derivatives.

Letter to Congress: AFR Urges House Financial Services Committee To Reject 19 Deregulatory Bills
October 11, 2017 – 1:34 pm

AFR sent the letter below to the House Financial Services Committee urging them to reject nineteen deregulatory bills.
AFR Letter Re HFSC 10-11 Markup

Letter to Regulators: AFR Urges Federal Reserve to Maintain and Expand Accountability for Bank Boards of Directors
October 11, 2017 – 12:28 pm

AFR sent a comment letter to the Federal Reserve Board urging them to modify proposed rules that would reduce accountability for bank Boards of Directors, and also to examine further changes that would expand such …

Letter to Regulator: AFR Opposes FDIC Insurance for Square Inc.
October 10, 2017 – 1:05 pm

“ILC charters exploit a loophole in federal banking laws to gain access to the federal deposit-insurance safety net while avoiding critical federal supervision and regulation. ILCs therefore pose unique risks to the financial system… If these applications are granted, [it] will send a clear signal to the marketplace that the FDIC intends once again to approve ILC deposit insurance applications, potentially unleashing a dangerous avalanche of new applications.”

AFR Statement: New Report on Goldman Sachs and the Trump Administration
October 10, 2017 – 9:12 am

The New York investment bank has had other periods in the sun, but never before have its priorities been so hardwired into an administration in Washington. The report details Goldman’s interests in areas of public policy including financial regulation, tax cuts and infrastructure.

AFR Report: Government Sachs And The Trump Administration
October 10, 2017 – 9:04 am

Goldman Sachs-linked appointees in the Trump administration are pursuing a broad agenda of deregulation and privatization that will directly benefit the New York investment bank.