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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Letter to the Regulators: AFR, 31 Orgs Support the CFPB’s Student Loan Servicer Data Collection
April 24, 2017 – 4:14 pm

AFR and 30 other organizations sent a sign-on letter to the Consumer Financial Protection Bureau in support of their proposed student loan servicing data collection initiative. Compiling such metrics and borrower outcomes would benefit market participants, federal and state agencies, policymakers, and borrowers. Obtaining a clearer view of the student loan market overall will help inform all market participants on how best to serve student loan borrowers.

AFR in the News: Trump Vows to Unveil Tax Plan (NY Times)
April 23, 2017 – 10:15 pm

“As business groups cheered [deregulation] moves, some skeptics were left questioning whether Mr. Trump was keeping his campaign promises to give working-class Americans a higher priority than Wall Street bankers. ‘From our perspective, it is a direction that is dramatically backwards on financial stability,’ said Lisa Donner, executive director of Americans for Financial Reform.’”

AFR in the News: GOP plan to erase Wall Street rules is more generous than even banks asked for (Washington Post)
April 21, 2017 – 10:17 pm

“Democrats have already promised to fight attempts to weaken the [CFPB’s] powers. ‘We would have a muzzled watchdog at best,’ said Brian Simmonds Marshall, policy counsel for Americans for Financial Reform, a coalition of more than 200 civil rights, consumer- and labor-oriented community groups. ‘You would have an agency that did not have the authorities it needs to protect consumers.’”

AFR in the News: Fighting Financial Abuse in the Trump Era (Huffington Post)
April 18, 2017 – 12:11 pm

“Amanda Jackson, who takes on powerful financial industry forces every day as the Organizing Manager for Americans for Financial Reform, says she’s drawing strength and inspiration from a surge of activism. ‘Trump is forcing people to be more conscious of problems that certain communities have been facing forever,’ Jackson told Inequality.org. ‘There’s no gray area anymore. Either you turn a blind eye to the problems or you answer the call to action. Fortunately, we’re seeing many people answer that call.’”

AFR in the News: Revised GOP bill would destroy the Consumer Bureau (LA Times)
April 18, 2017 – 11:47 am

“The Texas Republican shared a memo with other lawmakers last week outlining changes he plans to make to his so-called Financial CHOICE Act… Impressively, he’s managed to make a bad bill even worse… Marcus Stanley, policy director for the advocacy group Americans for Financial Reform, said Hensarling’s revised bill ‘makes regulators even weaker than they were before the financial crisis…’ Score that a big win for financial firms after years of filling Hensarling’s pockets with money.”

AFR in the News: GOP would give Trump power over Wall Street regulation (CNN Money)
April 18, 2017 – 10:46 am

“‘This latest bill will wind up making regulators weaker than they were before the crisis,’ Marcus Stanley [of] Americans for Financial Reform… told CNNMoney. ‘It’s definitely a shift toward empowering the White House to micromanage consumer protections and enforcement actions.'”

Letter To Regulators: Department of Labor Must Not Weaken The Conflict of Interest Rule
April 18, 2017 – 9:47 am

“On behalf of Americans for Financial Reform, we are writing to express our support for the Department of Labor’s (DOL’s) conflict of interest rule or “Fiduciary Duty” rule and our strong opposition to eliminating or …

Letter to Regulators: Fifty-One Organizations Urge Trump Administration To Protect Investors, Preserve The Conflict of Interest Rule
April 18, 2017 – 9:33 am

“We, the undersigned 51 organizations, are writing to express our strong support for the Department of Labor’s (DOL’s) conflict of interest or “Fiduciary Duty” rule and our strong opposition to eliminating or weakening the rule. …